Vanguard Total International Bond ETF
The Vanguard Total International Bond ETF (BNDX) provides exposure to non-US investment-grade bonds. It tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index, covering government, agency, and corporate bonds from developed and emerging markets outside the United States.
Key Features:
- International Bond Exposure: Hedged USD exposure to global bond markets
- Investment Grade Focus: Primarily invests in high-quality sovereign and corporate bonds
- Currency Hedged: Uses currency hedging to minimise USD exchange rate impact
- Diversification: Over 3,000 holdings across multiple countries and issuers
Expense Ratio: 0.07%
Number of Holdings: ~3,000+ non-US investment-grade bonds
Portfolio Context:
BNDX maps to 4 Fidelity funds including Euro Bond, Global Bond, and European High Yield funds.
This ETF is part of the Vanguard ETF Portfolio vs Equivalent Fidelity Funds comparison, where it serves as the Vanguard equivalent for one or more Fidelity funds.
Portfolio Composition
| Bond Segment | Weight |
|---|---|
| Government / Treasury | ~55% |
| Government-Related | ~15% |
| Corporate | ~20% |
| Securitized | ~10% |
Credit Quality: ~90% investment-grade (BBB or higher)
Average Duration: ~7–8 years
Top Regions: Europe (~40%), Asia-Pacific (~25%), Americas (ex-US) (~15%), Middle East (~10%), Other (~10%)