Dodge & Cox, Rookies, and Great Owls

Three Dodge & Cox funds …


  • Dodge & Cox Balanced Fund (DODBX)
  • Dodge & Cox Global Stock Fund (DODWX)
  • Dodge & Cox Income Fund (DODIX)


All on Honor Roll, which means they are top quintile in category the past 5, 3, and 1 year periods on an absolute return basis.


David designates funds between 1 and 2 years of age as “Rookie Funds.” Here are some top performers based on risk adjusted return in category, specifically Martin Ratio … max absolute return with min drawdown since inception through October:


  • SPDR S&P 500 High Dividend EtF (SPYD)
  • Intrepid Select Fund; Investor Class Shares (ICMTX)
  • Fidelity SAI US Minimum Volatility Index Fund (FSUVX)
  • T Rowe Price Global Unconstrained Bond Fund (RPIEX)
  • Restaurant EtF (BITE) … Ha!
  • Intrepid International Fund; Investor Class Shares (ICMIX)
  • Grandeur Peak Global Micro Cap Fund; Institutional Class Shares (GPMCX)
  • Eventide Multi-Asset Income Fund; Class I Shares (ETIMX)
  • Grandeur Peak Global Stalwarts Fund; Institutional Class Shares (GGSYX)
  • SPDR DoubleLine Total Return Tactical EtF (TOTL)
  • AQR Equity Market Neutral Fund; Class R6 Shares (QMNRX)
  • Grandeur Peak International Stalwarts Fund; Institutional Class Shares (GISYX)
  • Artisan Developing World Fund; Institutional Shares (APHYX)
  • JOHCM Emerging Markets Small Mid Cap Equity Fund; Institutional Class Shares (JOMMX)
  • Vanguard Alternative Strategies Fund; Investor Class Shares (VASFX)
  • Brown Capital Management International Small Company Fund; Inst Shares (BCSFX)


This month there are 12 funds that are both 20-year Great Owls (top quintile risk adjusted return for past 3, 5, 10 and 20 years) and Honor Roll funds (top quintile absolute return for past 1, 3, and 5 years).


The 20-year GO designation is a remarkable accomplishment in itself … long-term consistently high returns while mitigating drawdown. Add-in Honor Roll designation, which means these funds have continued to generate top returns presently.


Here are four:


  • T Rowe Price Capital Appreciation Fund (PRWCX)
  • Vanguard Wellesley Income Fund; Investor Shares (VWINX)
  • Fidelity Select Retailing Portfolio (FSRPX)
  • Vanguard/Wellington Fund Inc; Investor Shares (VWELX)


The remaining are munis:


  • Vanguard Ohio Long-Term Tax-Exempt Fund; Investor Shares (VOHIX)
  • Fidelity Michigan Municipal Income Fund (FMHTX)
  • Fidelity Ohio Municipal Income Fund (FOHFX)
  • Fidelity Arizona Municipal Income Fund (FSAZX)
  • Vanguard Pennsylvania Long-Term Tax-Exempt Fund; Investor Shares (VPAIX)
  • Fidelity Pennsylvania Municipal Income Fund (FPXTX)
  • New York Long-Term Tax-Exempt Fund; Investor Shares (VNYTX)
  • Nuveen Minnesota Intermediate Municipal Bond Fund; Class I Shares (FAMTX)