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Average Annual Total Return*
For periods ended March 31, 2014 (updated quarterly)
    1 Year   3 Years   5 Years   10 Years   20 Years
Income Fund 2.41% 4.73% 7.63% 5.15% 6.50%
Barclays U.S. Agg Index   -0.09%   3.76%   4.81%   4.47%   5.99%
   

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 March 31, 2014, unless otherwise noted (updated quarterly)
General Information
Net Asset Value Per Share   $13.69
Total Net Assets (billions)   $25.7
30-Day SEC Yield(a)   2.78%
Expense Ratio   0.43%
2013 Portfolio Turnover Rate   38%
Fund Inception   1989
 
Asset Allocation
Portfolio Characteristics   Fund   Barclays
U.S. Agg
Number of Fixed Income Securities   788   8,441
Effective Maturity (yrs)(b) 7.7 7.7
Effective Duration (yrs)(c)   4.6   5.7

five largest
corporate Issuers (%)(d)
  fund
Verizon Communications, Inc.   2.0
Bank of America Corp.   2.0
Citigroup, Inc.   1.7
Xerox Corp.   1.7
Cox Enterprises, Inc.   1.7
 
Sector
Diversification (%)
  Fund   Barclays
U.S. Agg
U.S. Treasury(b)   7.7   35.6
Government-Related   9.8   10.0
Mortgage-Related   36.5   29.2
Corporate   42.6   23.0
Asset-Backed/
Commercial
Mortgage-Backed(f)
  1.7   2.2
Cash Equivalents   1.7   0.0

Credit Quality (%)(e)
Fund Barclays
U.S. Agg
U.S. Treasury/Agency/
GSE (b)
  44.9   68.7
Aaa   1.7   4.2
Aa   2.0   3.8
A   12.2   11.3
Baa   26.6   12.0
Ba   8.3   0.0
B 2.6 0.0
Caa 0.0(g) 0.0
Cash Equivalents   1.7   0.0
 
Maturity
Diversification (%)
  Fund   Barclays
U.S. Agg
0-1 Years to Maturity   6.4   0.0
1-5   44.4   44.5
5-10(b)   31.7   40.6
10-15   1.3   3.6
15-20   4.3   1.7
20-25   6.6   2.8
25 and Over   5.3   6.8

 

(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) Data as presented excludes the effect of the Fund's short position in 10-year Treasury futures contracts (notional value = 2.4% of the Fund's net assets). If exposure to Treasury futures contracts had been included, the effective maturity would be 0.2 years lower.
(c) Data as presented includes the effect of Treasury futures contracts.
(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) 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 71.2% in securities rated A- or better and 5.8% 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.
(f) Commercial mortgage-backed securities are a component of the Barclays U.S. Agg but are not currently held by the Fund.
(g) Rounds to 0.0%.

*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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