- Issuer
- Dodge & Cox
- Inception Date
- May 10, 2021
- Category
- Emerging Markets Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
DODEX Performance Chart
Dodge & Cox Emerging Markets Stock Fund (DODEX) is up 19.9% since the beginning of the year. DODEX is currently trading at $14 per share. Investors who bought $1,000 worth of DODEX shares 5 years ago would now be looking at an investment worth $1,645.
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Returns By Period
Dodge & Cox Emerging Markets Stock Fund (DODEX) has returned 19.88% so far this year and 41.63% over the past 12 months.
Dodge & Cox Emerging Markets Stock Fund
- 1D
- 3.08%
- 1M
- -1.89%
- 6M
- 8.75%
- YTD
- 19.88%
- 1Y
- 41.63%
- 3Y*
- 20.86%
- 5Y*
- 10.47%
- 10Y*
- —
- ALL TIME*
- 8.91%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DODEX Monthly Returns History
Based on dividend-adjusted daily data since May 20, 2021, DODEX's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, an investment would double in approximately 7.0 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2022 with a return of +17.4%, while the worst month was Sep 2022 at -10.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, DODEX closed higher 50% of trading days. The best single day was Mar 16, 2022 with a return of +8.2%, while the worst single day was Apr 4, 2025 at -4.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.24% | 4.80% | -8.27% | 10.23% | 5.77% | 0.41% | -3.37% | 19.88% | |||||
| 2025 | 2.76% | 1.79% | 0.88% | 0.76% | 4.32% | 4.77% | 2.18% | 4.84% | 6.65% | 3.29% | -0.84% | 1.96% | 38.64% |
| 2024 | -3.52% | 4.77% | 3.12% | 0.70% | 1.96% | -0.23% | 0.23% | 1.59% | 8.14% | -5.05% | -2.28% | -1.49% | 7.47% |
| 2023 | 9.57% | -6.64% | 3.03% | -0.26% | -3.21% | 5.70% | 6.64% | -5.17% | -2.35% | -4.57% | 6.78% | 4.76% | 13.37% |
| 2022 | 1.35% | -7.21% | -2.51% | -6.26% | 2.75% | -4.20% | 0.27% | -1.33% | -10.75% | -2.26% | 17.41% | -0.73% | -14.91% |
| 2021 | 1.60% | -0.39% | -6.44% | 0.95% | -3.99% | 2.95% | -5.94% | 1.75% | -9.57% |
Benchmark Metrics
Dodge & Cox Emerging Markets Stock Fund has an annualized alpha of 1.66%, beta of 0.65, and R2 of 0.41 versus S&P 500 Index. Calculated based on daily prices since May 20, 2021.
- This fund participated in 80.29% of S&P 500 Index downside but only 71.57% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.65 may look defensive, but with R2 of 0.41 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.41 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.66%
- Beta
- 0.65
- R²
- 0.41
- Upside Capture
- 71.57%
- Downside Capture
- 80.29%
Expense Ratio
DODEX has an expense ratio of 0.70%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DODEX ranks 86 for risk / return — above 86% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Dodge & Cox Emerging Markets Stock Fund (DODEX) 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.
| DODEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 2.00 | +1.52 |
| Martin ratioReturn relative to average drawdown | 12.12 | 8.49 | +3.62 |
Dividends
Dividend History
Dodge & Cox Emerging Markets Stock Fund provided a 2.36% dividend yield over the last twelve months, with an annual payout of $0.33 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.33 | $0.33 | $0.17 | $0.16 | $0.14 | $0.12 |
Dividend yield | 2.36% | 2.83% | 1.94% | 1.92% | 1.93% | 1.38% |
Monthly Dividends
The table displays the monthly dividend distributions for Dodge & Cox Emerging Markets Stock 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.33 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.17 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
| 2021 | $0.12 | $0.12 |
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 Emerging Markets Stock 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 Emerging Markets Stock Fund was 37.01%, occurring on Oct 24, 2022. Recovery took 487 trading sessions.
The current Dodge & Cox Emerging Markets Stock Fund drawdown is 4.81%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-37.01%Oct 2022 | 1y 4mo | 1y 11mo | 3y 4moJun 2021 - Oct 2024 | Bear market2022 |
-16.15%Apr 2025 | 6mo 2d | 1mo 21d | 7mo 23dOct 2024 - May 2025 | 2025 selloff2025 |
-10.97%Mar 2026 | 1mo 2d | 18d | 1mo 20dFeb 2026 - Apr 2026 | — |
-7.66%Jul 2026 | 1mo 6d | — | 1mo 10dJun 2026 - now | — |
-6.72%Jun 2026 | 7d | 12d | 19dJun 2026 - Jun 2026 | — |
Drawdown Indicators
| DODEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.01% | -56.78% | +19.77% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -9.10% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -16.15% | -18.90% | +2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -33.05% | -25.43% | -7.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -4.81% | -1.58% | -3.23% |
Average DrawdownAverage peak-to-trough decline | -12.50% | -10.70% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.14% | +1.05% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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