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Average Annual Total Return*
For periods ended June 30, 2015 (updated quarterly)
    1 Year   3 Years   5 Years   10 Years   20 Years
Income Fund 0.97% 3.22% 4.31% 5.12% 6.05%
Barclays U.S. Agg Index   1.85%   1.83%   3.36%   4.44%   5.63%

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.

Fund Characteristics
as of June 30, 2015, unless otherwise noted (updated quarterly)
General Information
Net Asset Value Per Share   $13.60
Total Net Assets (billions)   $44.3
30-Day SEC Yield(a) 2.77%
2014 Expense Ratio
(per 5/1/15 Prospectus)
Expense Ratio
(1/1/15 - 6/30/15, annualized)
Portfolio Turnover Rate
(1/1/15 - 6/30/15, unannualized)
Fund Inception   1989
Asset Allocation
Portfolio Characteristics   Fund   Barclays
U.S. Agg
Number of Debt Securities   923   9,496
Effective Duration (years)   4.1   5.6

five largest
corporate Issuers (%)(b)
Bank of America Corp.   1.9
Cox Enterprises, Inc.   1.8
Verizon Communications, Inc.   1.7
Telecom Italia SPA   1.6
Citigroup, Inc.   1.5
Diversification (%)
  Fund   Barclays
U.S. Agg
U.S. Treasury(d)   9.6   36.1
Government-Related   7.2   9.3
Mortgage-Related(f)   33.7   28.2
Corporate   40.4   23.9
  8.0   2.5
Cash Equivalents   1.1   0.0

Credit Quality (%)(c)
Fund Barclays
U.S. Agg
U.S. Treasury/Agency/
GSE (d)
  43.6   67.5
Aaa   5.9   4.9
Aa   0.9   3.5
A   9.1   11.4
Baa   29.5   12.7
Ba   7.4   0.0
B 2.5 0.0
Caa 0.0(e) 0.0
Cash Equivalents   1.1   0.0
  Fund   Barclays
U.S. Agg
0-1 Years to Maturity   3.7   0.0
1-5   51.0   43.9
5-10   28.3   41.2
10-15   1.5   2.5
15-20   4.4   1.6
20-25   6.6   3.5
25 and Over   4.5   7.3


(a) SEC Yield is an annualization of the Fund’s total net investment income per share for the 30-day period ended on the last day of the month.
(b) 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.
(c) The credit quality distributions shown for the Fund and the Index are based on the middle of Moody's, S&P's, and Fitch ratings, which is the methodology used by Barclays in constructing its indices. If a security is rated only by two agencies, the lower of the two ratings is used. Please note that the Fund applies the highest of Moody's, S&P's, and Fitch ratings to determine compliance with the quality requirements stated in its prospectus. On that basis, the Fund held 4.9% in securities rated below investment grade. The credit quality of the investments in the portfolio does not apply to the stability or safety of the Fund or its shares.
(d) Data as presented excludes the Fund's position in Treasury futures contracts.
(e) Rounds to 0.0%.
(f) The Fund holds 0.4% in Agency multifamily mortgage securities; the Index classifies these securities under CMBS — Agency.
(g) Commercial mortgage-backed securities are a component of the Barclays U.S. Aggregate but are not currently held by the Fund.

*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 interest income but, unlike Fund returns, do not reflect fees or expenses. The Barclays U.S. Aggregate Bond Index (Barclays U.S. Agg) is a widely recognized, unmanaged index of U.S. dollar-denominated investment-grade fixed income securities.

Barclays® is a trademark of Barclays Bank PLC.

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