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This information should not be considered a solicitation or an offer to purchase shares of Dodge & Cox Worldwide Funds plc or a solicitation or an offer by Dodge & Cox Worldwide Investments and its affiliates to provide any services in any jurisdiction. The views expressed herein represent the opinions of Dodge & Cox Worldwide Investments and its affiliates and are not intended as a forecast or guarantee of future results for any product or service. To obtain more information about the Funds, please refer to the Funds' prospectus at dodgeandcoxworldwide.com.
The MSCI Emerging Markets Index is a broad broad-based, unmanaged equity market index of large-and mid-cap securities aggregated from 27 emerging market country indices. The MSCI EAFE (Europe, Australasia, Far East) Index is a broad-based, unmanaged equity market index aggregated from 21 developed market country indices, excluding the United States and Canada. The MSCI World Index is a broad-based, unmanaged equity market index aggregated from 23 developed market country indices, including the United States and Canada. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This publication is not approved, reviewed, or produced by MSCI. The S&P 500 Index is a market capitalization-weighted index of 500 large-capitalization stocks commonly used to represent the U.S. equity market. The S&P 500 Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Dodge & Cox. Copyright 2021 S&P Dow Jones Indices LLC, a division of S&P Global, Inc. and/or its affiliates.
The Dodge & Cox Worldwide Funds - Emerging Markets Stock Fund is subject to equity risk and market risk, meaning investments in a Fund can be volatile and may decline in value because of changes in the actual or perceived financial condition of their issuers or other events affecting their issuers. Investment prices may increase or decrease, sometimes suddenly and unpredictably, due to general market conditions. Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could also have a significant impact on a Fund and its investments. In addition, investing in non- U.S. securities may entail risk due to foreign economic and political developments; this risk may be higher when investing in emerging markets.
The above information is not a complete analysis of every material fact concerning any market, industry, or investment. Data has been obtained from sources considered reliable, but Dodge & Cox makes no representations as to the completeness or accuracy of such information. Opinions expressed are subject to change without notice. The information provided is historical and does not predict future results or profitability. This is not a recommendation to buy, sell, or hold any security and is not indicative of Dodge & Cox’s current or future trading activity. Any securities identified are subject to change without notice and do not represent a Fund’s entire holdings.
1 The use of specific examples does not imply that they are more or less attractive investments than the portfolio’s other holdings. As of September 30, 2021, Taiwan Semiconductor Manufacturing, Tencent Holdings, Samsung Electronics, and Alibaba Group Holding were the largest companies in the MSCI Emerging Markets Index. The Dodge & Cox Emerging Markets Stock Fund’s top 10 holdings were Samsung Electronics (5.3% of the Fund's market value), Prosus (4.9%), Alibaba Group Holding (4.8%), ICICI Bank (3.9%), Taiwan Semiconductor Manufacturing (3.3%), JD.com (3.2%), Itau Unibanco Holding (3.0%), Glencore (3.0%), Baidu (3.0%), and Magnit (2.6%).
2 MSCI’s official forward price-to-earnings ratio data is available since 30 June 2003.
3 Unless otherwise specified, weightings and characteristics are as of 30 September 2021.
4 The chart shows the top-ten constituents in the MSCI Emerging Markets Index as of 30 September 2021.
5 Performance data for the MSCI Emerging Markets Net Total Return USD Index is first available in Bloomberg starting on December 31, 1998. As a result, the first annual period of performance begins on 31 December 1999.
6 Defined as under $10 billion in market cap.
7 One basis point is equal to 1/100th of 1%. Dodge & Cox has contractually agreed to reimburse the Dodge & Cox Emerging Markets Stock Fund for all ordinary expenses to the extent necessary to maintain total annual fund operating expenses at 0.70% through 30 April 2022. The term of the agreement renews annually thereafter unless terminated with 30 days’ written notice by either party prior to the end of the term. The gross expense ratio for the Fund was 1.92%, annualized from 11 May 2021 through 30 June 2021.
8 Equal weighted average of the lowest cost share class. Prospectus net expense ratio for U.S. domiciled funds within the Morningstar EAA Fund Global Emerging Markets Equity category (excluding index, enhanced index, and fund of funds). Source: Morningstar Direct (data was downloaded on 13 October 2021). © 2021 Morningstar.