BNDX:what it yields, how rates move it and what it holds
Vanguard Total International Bond ETF. Portfolio as of July 31, 2026, from the fund's SEC filing (Form N-PORT).
International, other currencies. Issued outside the US, in euros, yen and other currencies. The yield shown is in the bonds' own currencies; when a fund hedges its currency, the yield in dollars differs. BNDX hedges its currency risk into dollars, so its holder earns a dollar return that exchange rates barely move.
Yield to maturity (YTM)
not computed
For much of the fund's bonds the filing does not carry what a yield needs.
- If rates rise 1 pointestimated from its duration, 6.5 years
- -6.5%
- Investment gradeof the credit risk, BBB or better
- 100%
- Size7,380 positions
- $123B
In a few words
BNDX holds 7,380 positions. 74% of the portfolio is government bonds of other countries. We show no yield to maturity, because much of it is in bonds whose yield public data cannot give correctly. Its duration is 6.5 years: if rates rise by 1 percentage point, its price falls about 6.5%. In 2022, when rates rose sharply, its total return was -12.9%.
Every ETF in International, other currenciesIf rates change
A rough estimate, if rates moved at once and equally at every maturity.
Price, at once
-6.5%
Ready-made moves
| Change in rates | At once |
|---|---|
| +6.5% | |
| +3.3% | |
| 0.0% | |
| -3.3% | |
| -6.5% | |
| -13.0% |
Past returns
The ETF's total return, price change plus distributions, as the fund reports it to the SEC.
Last 12 months
+1.2%
3 years, average per year
+3.9%
Worst 12 months
-13.0%
Largest fall from a peak
-14.8%
100 at the start 104.0 at the end, distributions reinvested
What it holds
Portfolio as of July 31, 2026: who issued the bonds, when they mature and the largest issuers.
Who issued the bonds
Largest issuers
The 10 largest are 40.3% of the fund.
When they mature
Details
- Positions
- 7,380
- Average coupon
- 2.72%
- Floating rate
- 3.5%
- In other currencies
- 98.0%
- Currency hedged
- 100%
- Mortgage-backed
- 0.0%
- In default
- 0.00%
- Hard to value
- 0.00%
- Cash and cash funds
- 1.4%
Maturities as stated on the bonds. Mortgage bonds, many corporate bonds and city bonds can be repaid early, so in practice they mature sooner.
Similar bond ETFs
Same kind as BNDX, nearest in rate sensitivity.
- IAGGiShares Core International Aggregate Bond ETFIf rates +1%-5.9%
- EMLCVanEck J.P. Morgan EM Local Currency Bond ETFIf rates +1%-5.4%
| ETF | Yield (YTM) | If rates +1% | 2022 | Size |
|---|---|---|---|---|
| IAGGiShares Core International Aggregate Bond ETF | 3.25% | -5.9% | -10.7% | $11.2B |
| EMLCVanEck J.P. Morgan EM Local Currency Bond ETF | 6.72% | -5.4% | -10.2% | $4.9B |
The full analysis
And what about stocks?
Bonds are only one side of investing. With Ploutos AI you can analyse a company through its official SEC filings, look into its financials and understand what lies behind the numbers. Every finding comes with a reference to its source, so you can check the data behind the analysis.
- A fair value range built from the filings
- Earnings quality, debt and red flags
- Insider and institutional moves
- The case for and the case against
How much would BNDX fall if rates rose?
With a duration of 6.5 years, an immediate one-point rise in rates would take about 6.5% off its price. An equal fall would add about the same.
What is BNDX's yield?
For this fund we show no yield to maturity, because much of it is in bonds whose yield public data cannot give correctly.
How did BNDX do in 2022?
In 2022 BNDX returned -12.9% in total, as the fund reports it.
Related pages
This page describes what bond ETFs hold, based on their SEC filings. Bond prices change every day and past returns do not say what comes next.