International Treasury Bonds
International Treasury bond ETFs hold sovereign debt issued by developed-market governments outside the United States — Japan, Germany, the UK, France, and others. They offer geographic diversification away from US fiscal and monetary policy and a way to express views on foreign currencies, since most are unhedged.
Maturity Ladder
SPDR Bloomberg Short-Term Intl Treasury
SPDR
iShares 3 Year International Treasury
iShares
South Africa 10-Year Govt Bond
SPDR Bloomberg Intl Treasury Bond
SPDR
iShares International Treasury Bond
iShares
Frequently Asked Questions
What is an international Treasury bond ETF?▼
An ETF that holds sovereign (government-issued) debt from countries other than the United States. The largest funds in this category include IGOV (developed markets) and BWX (Bloomberg International Treasury Bond Index). They give US investors exposure to foreign interest rates and currencies.
Are international Treasury bond ETFs hedged to USD?▼
Most major international Treasury ETFs (IGOV, BWX) are UNHEDGED — your returns include both the bond performance and currency movements relative to the dollar. Hedged share classes exist (e.g., BWX has BWZ for short-term) but most flagship products keep currency exposure.
Why hold international Treasuries if US Treasuries are safer?▼
For diversification. US rates do not move in lockstep with European, Japanese, or UK rates, so international Treasuries can rally when US bonds sell off. They also provide exposure to currency moves if you expect the dollar to weaken.
Other Fixed Income Categories
Treasury yields and ETFs from 1-month bills to 30-year bonds.
Total-market bond ETFs spanning Treasuries, corporates, and mortgages.
Investment-grade corporate debt, sliced by maturity.
Below-investment-grade corporate debt with elevated yields.
Treasuries whose principal adjusts with CPI inflation.
State and local government debt — federal-tax-exempt income.
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