I've held their funds since early 2000s when they could do no wrong. Currently about 15-20% divided between DODBX and DODWX and another 10% in the Income fund. Won't try to regurgitate the numbers, but as you likely know they are dismal, most funds near bottom of peer class going back 5 years and decidedly mediocre over 10 years, though they long held top place at the 10 year period. The income fund DODIX fares considerably better, but has slipped to mediocre past year.
I've followed them pretty close and have read the comments of many fine contributors in the past, including Bob C. Yep, they got bloated. And they got caught in a value trap loading up on financials at just the wrong time. They continue to hold big chunks of earnings challenged HP. As I've observed, they've long been bearish on bonds and are over-weight equities in the Balanced fund which will drag it down in this environment.
My questions remain. Were they that over-rated and over-hyped 10 years ago? That's an awful lot of intelligent observors getting it wrong. Even the launch of DODWX in 2008 was greeted positively by many at FA. Has management changed so much as to cause them to fall off a cliff? How big are outflows and are they contributing to the dismal performance? Could they be correct but early in their long term assessments? Sure, I can move the money. But it would sting to move it and them have DC rebound a year or two later, which I think possible. On the other hand maybe they are fundamentally flawed?