Fund Evaluator:
Dodge & Cox Income X (DOXIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
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| 4.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 4.7% | Carillon Reams Core Plus Bond I (SCPZX) |
| 4.7% | Cavanal Hill Strategic Enhanced Yld Inv (APENX) |
Fund Details
Dodge & Cox Income X Overview
Dodge & Cox Income X (DOXIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Dodge & Cox launched the fund in 2022.
The investment seeks a high and stable rate of current income, consistent with long-term preservation of capital; a secondary objective is capital appreciation. The fund invests in a diversified portfolio of bonds and other debt securities. The fund will invest at least 80% of its total assets in (1) investment-grade debt securities and (2) cash equivalents. "Investment grade" means securities rated Baa3 or higher by Moody's Investors Service, or BBB- or higher by Standard & Poor's Ratings Group or Fitch Ratings, or equivalently rated by any nationally recognized statistical rating organization, or, if unrated, deemed to be of similar quality by Dodge & Cox.
About Dodge & Cox Income X (DOXIX)
There are 6 members of the management team with an average tenure of 11.14 years: Anthony Brekke (2008), Adam Rubinson (2010), Lucinda Johns (2012), Michael Kiedel (2018), Nils Reuter (2018), Jose Ursua (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Dodge & Cox Income X has 1616 securities in its portfolio. The top 10 holdings constitute 13.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Dodge & Cox Income X is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Dodge & Cox Income X has 13.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.0% (84.6% domestic bond, 13.4% foreign bond and 0.8% convertible bond). Dodge & Cox Income X has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $24 billion in total assets, which is above the $1 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DOXIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Dodge & Cox Income X expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. Dodge & Cox Income X has an expense ratio of 0.33%, which is 58% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Dodge & Cox Income X has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 180% for the Intermediate Core-Plus Bond category.
Recently, in the month of June 2026, Dodge & Cox Income X returned 0.3%, which earned it a grade of B, as the Intermediate Core-Plus Bond category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Dodge & Cox Income X has a trailing yield of 4.39%, which is above the 4.29% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Dodge & Cox Income X Grades
Year to date, the fund has returned 0.9%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 4.8% over the past year (grade of A), 5.3% over the past three years (grade of A) and 1.4% per year over the past five years (grade of A) and 3.0% per year over the past 10 years (grade of A).
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DOXIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DOXIX Return (NAV) | 0.3% | 0.8% | 4.8% | 5.3% | 1.4% | 3.0% |
| DOXIX Grade | B | D | A | A | A | A |
| +/- Category | 0.1% | -0.2% | 0.8% | 0.7% | 1.1% | 0.9% |
| Intermediate Core-Plus Bond Avg | 0.3% | 0.9% | 3.9% | 4.7% | 0.3% | 2.1% |
| DOXIX Tax Cost Ratio | na | na | 1.8% | 1.7% | na | na |
DOXIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DOXIX Return (NAV) | 0.9% | 8.4% | 2.3% | 7.8% | -10.8% | -0.9% | 9.5% | 9.7% | -0.3% | 4.4% | 5.6% |
| DOXIX Grade | B | A | C | A | A | C | B | B | B | C | A |
| +/- Category | 0.1% | 1.1% | 0.1% | 1.6% | 2.6% | -0.3% | 0.8% | 0.6% | 0.6% | -0.1% | 1.3% |
| Intermediate Core-Plus Bond Avg | 0.7% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.9% |
| Total Risk Index: | 0.49 - Below Average |
| Category Risk Index: | 1.07 - High |
| Category Risk Grade: | F (84% Rank) |
| Beta: | 1.07 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $109268 Mil |
| Fund Total Assets: | $24,166 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 18.2 years | |||
| Average Tenure: 11.1 years | |||
| Managers (Year): Brekke Anthony (2008), Rubinson Adam (2010), Johns Lucinda (2012), Kiedel Michael (2018), Reuter Nils (2018), Ursua Jose (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 1616 |
| % in Top 10 Holdings: | 13.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 84.6% |
| Foreign Bond: | 13.4% |
| Convertible Bond: | 0.8% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | Dodge & Cox |
| Phone Number: | 800-621-3979 |
| Website: | www.dodgeandcox.com |
| Status: | Open |
| Inception Date: | May 2, 2022 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.33% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Dodge & Cox Income I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
