DODEX Fees and Costs — Dodge & Cox Emerging Markets Stock Fund
Data updated: 2026-08-28
The net expense ratio is 0.70%: a 0.60% management fee plus 0.22% other expenses, less a 0.12% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $532K in broker commissions, 0.0889% of average net assets, and portfolio turnover was 23%.
DODEX Fees and Expenses
Annual operating expenses and sales charges of DODEX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.12% |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
DODEX Costs Over Time
On $10,000 invested in DODEX, assuming 5% a year before costs, total costs come to $496 over 5 years, cutting the return by 0.83% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.70%) | $74 | $230 | $399 |
| Trading costs (broker commissions) | $9 | $29 | $51 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $272 | $496 |
| Value after costs | $10,417 | $11,304 | $12,267 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
DODEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0889%
- Total broker commissions: $532K
- Bought from dealers (principal trades, not a cost): $4.0B
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
DODEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $82K | 16.58% |
| Sanford C. Bernstein & Co., LLC | $68K | 13.72% |
| Citigroup Global Markets, Inc. | $67K | 13.56% |
| Morgan Stanley & Co. LLC | $66K | 13.30% |
| Jefferies LLC | $49K | 9.80% |
| Goldman Sachs & Co. LLC | $45K | 9.13% |
| UBS Securities LLC | $42K | 8.54% |
| CLSA Calyon Sec Usa (Clsa Americas, LLC) | $33K | 6.61% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $26K | 5.31% |
| HSBC Securities (USA) Inc. | $17K | 3.44% |
DODEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank And Trust Company | $3.9B | 98.42% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $63.0M | 1.58% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.