- ISIN
- US2562011047
- CUSIP
- 256201104
- Issuer
- Dodge & Cox
- Inception Date
- Jun 25, 1931
- Category
- Diversified Portfolio
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
DODBX Performance Chart
Dodge & Cox Balanced Fund (DODBX) is up 2.3% since the beginning of the year. DODBX is currently trading at $14 per share. Investors who bought $1,000 worth of DODBX shares 5 years ago would now be looking at an investment worth $1,395.
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Returns By Period
Dodge & Cox Balanced Fund (DODBX) has returned 2.26% so far this year and 9.71% over the past 12 months. Over the last ten years, DODBX has returned 9.53% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Dodge & Cox Balanced Fund
- 1D
- -0.15%
- 1M
- -0.15%
- YTD
- 2.26%
- 6M
- 2.26%
- 1Y
- 9.71%
- 3Y*
- 11.24%
- 5Y*
- 6.89%
- 10Y*
- 9.53%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DODBX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1980, DODBX's average daily return is +0.04%, while the average monthly return is +0.78%. At this rate, an investment would double in approximately 7.4 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +12.4%, while the worst month was Mar 2020 at -14.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, DODBX closed higher 48% of trading days. The best single day was Nov 18, 1987 with a return of +9.4%, while the worst single day was Nov 23, 1987 at -9.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.70% | 2.18% | -4.13% | 2.86% | 0.00% | -0.22% | 2.26% | ||||||
| 2025 | 4.07% | 1.93% | -1.19% | -1.18% | 2.21% | 2.54% | -0.79% | 3.22% | 1.06% | -0.62% | 1.45% | 1.05% | 14.44% |
| 2024 | -0.27% | 1.02% | 3.83% | -2.46% | 2.78% | -0.32% | 3.43% | 1.91% | 1.20% | -1.12% | 2.76% | -4.02% | 8.76% |
| 2023 | 5.58% | -2.75% | -0.24% | 1.12% | -2.37% | 4.47% | 3.69% | -1.55% | -2.05% | -2.72% | 5.90% | 4.54% | 13.77% |
| 2022 | 0.58% | -1.66% | 0.38% | -5.79% | 3.00% | -6.46% | 3.91% | -2.37% | -7.10% | 5.94% | 5.62% | -2.45% | -7.30% |
| 2021 | -0.11% | 6.04% | 3.73% | 3.85% | 2.36% | -0.08% | -0.24% | 1.78% | -2.63% | 2.52% | -2.73% | 3.60% | 19.21% |
Benchmark Metrics
Dodge & Cox Balanced Fund has an annualized alpha of 3.64%, beta of 0.55, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since January 02, 1980.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (69.87%) than losses (66.39%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 3.64% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.55 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 3.64%
- Beta
- 0.55
- R²
- 0.62
- Upside Capture
- 69.87%
- Downside Capture
- 66.39%
Expense Ratio
DODBX has an expense ratio of 0.52%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DODBX ranks 24 for risk / return — below 24% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Dodge & Cox Balanced Fund (DODBX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DODBX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.78 | -1.11 |
| Martin ratioReturn relative to average drawdown | 5.87 | 12.44 | -6.57 |
Dividends
Dividend History
Dodge & Cox Balanced Fund provided a 7.06% dividend yield over the last twelve months, with an annual payout of $0.96 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.96 | $1.02 | $1.04 | $0.59 | $1.01 | $1.45 | $0.88 | $1.19 | $1.12 | $1.01 | $0.72 | $0.64 |
Dividend yield | 7.06% | 7.53% | 8.21% | 4.64% | 8.67% | 10.62% | 6.92% | 9.35% | 9.57% | 7.53% | 5.59% | 5.44% |
Monthly Dividends
The table displays the monthly dividend distributions for Dodge & Cox Balanced Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.00 | $0.16 | ||||||
| 2025 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.60 | $1.02 |
| 2024 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.62 | $1.04 |
| 2023 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.28 | $0.59 |
| 2022 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.73 | $1.01 |
| 2021 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $1.12 | $1.45 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Dodge & Cox Balanced Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Dodge & Cox Balanced Fund was 50.20%, occurring on Mar 9, 2009. Recovery took 862 trading sessions.
The current Dodge & Cox Balanced Fund drawdown is 1.60%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -50.20%Mar 2009 | 1y 7mo | 3y 5mo | 5y 20dJul 2007 - Aug 2012 |
COVID crash2020 | -31.29%Mar 2020 | 1mo 9d | 7mo 28d | 9mo 7dFeb 2020 - Nov 2020 |
Black Monday1987 | -21.90%Dec 1987 | 3mo 18d | 1y 4mo | 1y 8moAug 1987 - Apr 1989 |
1982 bear market1982 | -20.05%Jun 1982 | 1y 6mo | 7mo 17d | 2y 1moDec 1980 - Jan 1983 |
Bear market2022 | -17.74%Sep 2022 | 8mo 12d | 1y 2mo | 1y 10moJan 2022 - Dec 2023 |
Drawdown Indicators
| DODBX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.20% | -56.78% | +6.58% |
Max Drawdown (1Y)Largest decline over 1 year | -5.72% | -9.10% | +3.38% |
Max Drawdown (3Y)Largest decline over 3 years | -8.45% | -18.90% | +10.45% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -25.43% | +7.69% |
Max Drawdown (10Y)Largest decline over 10 years | -31.29% | -33.92% | +2.63% |
Current DrawdownCurrent decline from peak | -1.60% | -1.80% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -10.71% | +6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 2.03% | -0.40% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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