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Average Annual Total Return*
For periods ended June 30, 2021 (updated quarterly)
    1 Year†   3 Years   5 Years   10 Years   Since Inception††
Global Stock Fund 54.52%   12.83%   14.68%   10.33%   7.29%
MSCI World Index   39.04%   14.99%   14.83%   10.65%   7.55%
   

Returns represent past performance and do not guarantee future results. Investment return and share price will fluctuate with market conditions, and investors may have a gain or loss when shares are sold. Mutual fund performance changes over time and currently may be significantly lower than stated above. Monthly updates to performance are accessible from the Performance & Prices page.

† Investors should note that the Fund's short-term performance is highly unusual and unlikely to be sustained.
†† The Global Stock Fund’s inception date was May 1, 2008.

   
Fund Characteristics
as of June 30, 2021, unless otherwise noted (updated quarterly)
General Information
Net Asset Value Per Share   $16.09
Total Net Assets (billions)   $11.9
Expense Ratio 0.62%
Portfolio Turnover
(1/1/21 to 6/30/21, unannualized)
  12%
30-Day SEC Yield(a) 0.80%
Active Share(b) 89%
Number of Companies 80
Fund Inception   2008
 
Asset Allocation
Asset Allocation Pie Chart. Equity Securities, 98.3%. Net Cash and Other, 1.7%
Portfolio Characteristics   Fund   MSCI
World
Median Market Capitalization (billions)   $51   $19
Weighted Average Market
Capitalization (billions)
  $195   $342
Price-to-Earnings Ratio(c) 13.2x 19.9x
Countries Represented   19   23
Emerging Markets
(Brazil, China, India, Mexico, Peru, Russia, South Africa, South Korea)(f)(g)
  14.5%   0.0%
region
diversification
(% Market Value)
(f)(g)
  Fund   MSCI world
United States   46.3   67.4
Europe (excluding UK)   19.8   14.7
United Kingdom   10.4   4.2
Asia Pacific (excluding Japan) 9.2 3.4
Latin America 4.2 0.0
Canada 3.7 3.3
Japan   3.1   6.8
Africa   1.0 0.0
Middle East   0.0   0.2
 
   

ten largest equity holdings
(% Market Value)
(d)(g)
Fund
Sanofi (France) 3.5
GlaxoSmithKline PLC (United Kingdom) 3.5
Comcast Corp. (United States)   3.2
Alphabet, Inc. (United States)   3.0
Wells Fargo & Co. (United States) 3.0
Charter Communications, Inc. (United States)   2.9
Novartis AG (Switzerland)   2.6
Glencore PLC (United Kingdom)   2.5
Banco Santander SA (Spain)   2.5
Roche Holdings AG (Switzerland)   2.5
 
 
sector
diversification
(% Market Value)
(g)
  Fund   MSCI world
Financials   25.0   13.6
Health Care   17.9   12.5
Communication Services   14.9   9.1
Information Technology   10.9   22.1
Industrials   6.9   10.6
Energy 6.7 3.2
Consumer Discretionary   6.4 12.0
Materials 5.7 4.4
Consumer Staples 2.6 7.0
Real Estate 0.8 2.7
Utilities 0.0 2.7
 

 

(a) SEC Yield is an annualization of the Fund’s net investment income for the trailing 30-day period. Dividends paid by the Fund may be higher or lower than implied by the SEC Yield.
(b) Active share is a measure of how much an investment portfolio differs from its benchmark index, based on a scale of 0% (complete overlap with the index) to 100% (no overlap). Overlap for each security in the Fund is the lower of either its percentage weight in the Fund or its percentage weight in the relevant index. Active share is calculated as 100% minus the sum of the overlapping security weights.
(c) Price-to-earnings (P/E) ratios are calculated using 12-month forward earnings estimates from third-party sources as of the reporting period. Estimates reflect a consensus of sell-side analyst estimates, which may lag as market conditions change.
(d) The Fund’s portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation to buy, sell, or hold any particular security and is not indicative of Dodge & Cox's current or future trading activity.
(e) Net Cash & Other includes cash, short-term investments, unrealized gain (loss) on derivatives, receivables, and payables.
(f) The Fund may classify a company in a different category than the MSCI World. The Fund generally classifies a company based on its country of incorporation, but may designate a different country in certain circumstances.
(g) Excludes derivatives.

*The Fund's total returns include the reinvestment of dividend and capital gain distributions, but have not been adjusted for any income taxes payable by shareholders on these distributions or on Fund share redemptions. Index returns include dividends but, unlike Fund returns, do not reflect fees or expenses. 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. Results reflect dividends net of withholding taxes.

MSCI World is a service mark of MSCI Barra. This report is not approved, reviewed, or produced by MSCI. Source: MSCI. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent.

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