Bonds · Corporate issuer
Royal Bank of Canada bonds RY
Who owns Royal Bank of Canada's debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. RY stock page.
Held by funds
$2.77B
124 bonds, fund marks Jul 2026
Fund holders
685
+30 vs prior quarter
USD spread over Treasuries
52 bp
+4 bp in a month · fund-reported
USD yield
4.78%
median yield to maturity · fund-reported
Distance-to-default
n/a
financial company: model not applied
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 78017DAE8 | 4.086% floating | 2026-08-03 | USD | 100.00 | — | — | 2 | $23.5M | Jul 2026 |
| C79849PK2 | 205.09% fixed | 2026-08-07 | USD | 90.18 | — | — | 1 | $2.3M | Jul 2026 |
| C79849PL0 | 192.82% fixed | 2026-08-12 | USD | 92.80 | — | — | 1 | $1.9M | Jul 2026 |
| C79849PM8 | 191.09% fixed | 2026-08-17 | USD | 102.71 | — | — | 1 | $2.0M | Jul 2026 |
| C79849PN6 | 143.69% fixed | 2026-08-18 | USD | 94.40 | — | — | 1 | $1.4M | Jul 2026 |
| C79849PP1 | 197.57% fixed | 2026-08-18 | USD | 102.47 | — | — | 1 | $1.9M | Jul 2026 |
| C79849PQ9 | 0% floating | 2026-08-20 | USD | 101.03 | — | — | 1 | $2.5M | Jul 2026 |
| C79864606 | 8.5% fixed | 2026-08-20 | USD | — | — | — | 1 | $4.3M | Jun 2026 |
| C79849PR7 | 203.48% fixed | 2026-08-21 | USD | 104.15 | — | — | 1 | $2.8M | Jul 2026 |
| 78011GCC9 | 0% fixed | 2026-08-24 | USD | 171.23 | — | — | 1 | $20.2M | Jul 2026 |
| C79849PS5 | 180.83% fixed | 2026-08-24 | USD | 102.66 | — | — | 1 | $2.4M | Jul 2026 |
| XS2385061234 | 1% fixed | 2026-09-09 | GBP | 98.81 | 4.38% | — | 1 | $739K | Apr 2026 |
| 780082AH6 | 1.05% fixed | 2026-09-14 | USD | 99.39 | 4.04% | 38 bp | 3 | $19.5M | Jun 2026 |
| YK0529379 | 13.39% fixed | 2026-09-18 | USD | — | — | — | 2 | $10.4M | Jul 2026 |
| 78015JPU5 | 0.039% variable | 2026-10-02 | USD | 100.04 | — | — | 2 | $30.0M | May 2026 |
| YK5775332 | 17% fixed | 2026-10-09 | USD | — | — | — | 1 | $1.4M | Jul 2026 |
| 78011GCE5 | 0% fixed | 2026-10-30 | USD | 171.06 | — | — | 1 | $29.3M | Jul 2026 |
| 78016EZZ3 | 1.4% fixed | 2026-11-02 | USD | 99.34 | 4.03% | 30 bp | 3 | $12.9M | Jul 2026 |
| 78016EYD3 | 4.217% floating | 2026-11-02 | USD | 100.08 | — | — | 4 | $25.2M | Jul 2026 |
| 78015JRQ2 | 4% floating | 2026-11-12 | USD | 100.04 | — | — | 4 | $11.0M | Jul 2026 |
| 78015JRU3 | 3.97% floating | 2026-11-13 | USD | 100.06 | — | — | 1 | $2.0M | Jun 2026 |
| C79865835 | 10% fixed | 2026-11-16 | USD | — | — | — | 2 | $8.2M | Jun 2026 |
| YJ9850274 | 14.42% fixed | 2026-11-16 | USD | — | — | — | 2 | $11.7M | Jul 2026 |
| DA3435850 | 16.92% fixed | 2026-11-23 | USD | — | — | — | 1 | $1.5M | Jul 2026 |
| 78015MC81 | 3.95% floating | 2026-12-11 | USD | 100.12 | — | — | 4 | $16.0M | Jun 2026 |
| ZG5724148 | 4.851% fixed | 2026-12-14 | USD | 100.29 | 4.19% | 47 bp | 1 | $8.9M | Jun 2026 |
| 780082AQ6 | 4.851% fixed | 2026-12-14 | USD | 100.29 | 4.19% | 47 bp | 3 | $12.0M | Jun 2026 |
| 78016HZU7 | 4.575% floating | 2027-01-19 | USD | 100.29 | — | — | 7 | $53.3M | Jul 2026 |
| 78016HZT0 | 4.875% fixed | 2027-01-19 | USD | 100.28 | 4.26% | 44 bp | 3 | $10.0M | Jul 2026 |
| XS2104915207 | 0.01% fixed | 2027-01-21 | EUR | 98.12 | 2.65% | — | 1 | $576K | Apr 2026 |
| 78016EYV3 | 2.05% fixed | 2027-01-21 | USD | 98.99 | 4.23% | 41 bp | 2 | $4.0M | Jul 2026 |
| 78016EYZ4 | 4.335% floating | 2027-01-21 | USD | 100.21 | — | — | 6 | $35.5M | Jul 2026 |
| 78015JXG7 | 3.95% floating | 2027-01-22 | USD | 100.03 | — | — | 3 | $4.0M | Jul 2026 |
| C79874670 | 24.18% fixed | 2027-01-25 | USD | — | — | — | 1 | $922K | Jul 2026 |
| 780086RQ9 | 2.328% fixed | 2027-01-28 | CAD | 99.78 | 2.78% | — | 1 | $142K | Jul 2026 |
| 78014XSP3 | 3.94% floating | 2027-02-05 | USD | 100.02 | — | — | 1 | $600K | Jul 2026 |
| YI6678233 | 14% fixed | 2027-02-12 | USD | — | — | — | 1 | $19.9M | Jul 2026 |
| C79874878 | 12.08% fixed | 2027-02-18 | USD | — | — | — | 1 | $17.9M | Jul 2026 |
| YI8287371 | 12.59% fixed | 2027-02-18 | USD | — | — | — | 1 | $13.9M | Jul 2026 |
| 780086UF9 | 4.2% variable | 2027-02-24 | CAD | 99.00 | — | — | 1 | $1.3M | Jun 2026 |
| C79875172 | 14.81% fixed | 2027-02-26 | USD | — | — | — | 1 | $18.9M | Jul 2026 |
| C79875180 | 18.67% fixed | 2027-02-26 | USD | — | — | — | 1 | $10.6M | Jul 2026 |
| C8S08NBZ3 | 0.125% fixed | 2027-04-26 | EUR | 97.41 | 2.82% | — | 1 | $915K | Apr 2026 |
| 78016EZD2 | 3.63% fixed | 2027-05-04 | USD | 99.52 | 4.28% | 33 bp | 3 | $9.8M | Jul 2026 |
| 78017UFN5 | 20.75% fixed | 2027-05-06 | USD | 99.88 | 20.77% | 1691 bp | 1 | $599K | Jun 2026 |
| C79875800 | 19.23% fixed | 2027-05-10 | USD | — | — | — | 1 | $752K | Jul 2026 |
| 78017W437 | 2158.69% floating | 2027-05-12 | USD | — | — | — | 2 | $3.2M | Jun 2026 |
| 78015JAR8 | 3.97% floating | 2027-06-03 | USD | 99.98 | — | — | 5 | $5.0M | Jul 2026 |
| BX0416772 | 3.625% fixed | 2027-06-14 | GBP | 99.23 | 4.53% | — | 1 | $425K | Jul 2026 |
| C79876402 | 16.57% fixed | 2027-06-17 | USD | — | — | — | 1 | $1.3M | Jul 2026 |
| C79876501 | 15.42% fixed | 2027-06-30 | USD | — | — | — | 1 | $16.6M | Jul 2026 |
| 78015JBZ9 | 4.44% fixed | 2027-07-20 | USD | 100.08 | 4.35% | 32 bp | 1 | $15.0M | Jul 2026 |
| 78016HZY9 | 4.42% floating | 2027-07-23 | USD | 100.03 | — | — | 10 | $121.6M | Jun 2026 |
| 78016HZX1 | 5.069% variable | 2027-07-23 | USD | 100.05 | — | — | 14 | $97.5M | Jun 2026 |
| 780086VK7 | 4.612% fixed | 2027-07-26 | CAD | 101.49 | 3.07% | — | 1 | $362K | Jul 2026 |
| 78011GCF2 | 0.01% fixed | 2027-07-29 | USD | 97.63 | 2.44% | -161 bp | 1 | $26.5M | Jul 2026 |
| 78016FZS6 | 4.24% fixed | 2027-08-03 | USD | 99.93 | 4.31% | 26 bp | 9 | $38.4M | Jul 2026 |
| C79876725 | 18.08% fixed | 2027-08-13 | USD | — | — | — | 1 | $1.3M | Jul 2026 |
| C8S08PMK9 | 2.375% fixed | 2027-09-13 | EUR | 99.39 | 2.93% | — | 2 | $9.1M | Jul 2026 |
| C4R461QE6 | 1.5% fixed | 2027-09-15 | EUR | 98.43 | 2.94% | — | 3 | $23.7M | Jul 2026 |
| 78017GQ46 | 0% fixed | 2027-09-25 | USD | 105.93 | — | — | 1 | $7.9M | Jul 2026 |
| 78017FZR7 | 4.364% floating | 2027-10-18 | USD | 100.07 | — | — | 5 | $57.5M | Jul 2026 |
| 78017FZQ9 | 4.51% fixed | 2027-10-18 | USD | 100.02 | 4.48% | 40 bp | 2 | $4.0M | Jul 2026 |
| 78016FZU1 | 6% fixed | 2027-11-01 | USD | 101.87 | 4.44% | 35 bp | 8 | $15.0M | Jul 2026 |
| 78016FZW7 | 4.9% fixed | 2028-01-12 | USD | 100.61 | 4.46% | 33 bp | 8 | $9.4M | Jul 2026 |
| 780086WG5 | 4.642% fixed | 2028-01-17 | CAD | 101.78 | 3.38% | — | 5 | $32.2M | Jul 2026 |
| ZM4793802 | 5% fixed | 2028-01-24 | GBP | 100.25 | 4.82% | — | 4 | $18.4M | Jul 2026 |
| XS2595029344 | 3.63% fixed | 2028-03-07 | EUR | 100.84 | 3.07% | — | 1 | $349K | Jul 2026 |
| 78017DAG3 | 4.47% floating | 2028-03-27 | USD | 100.23 | — | — | 3 | $30.1M | Jul 2026 |
| 78017DAF5 | 4.715% fixed | 2028-03-27 | USD | 100.13 | 4.63% | 47 bp | 5 | $82.9M | Jul 2026 |
| 780086XL3 | 4.632% fixed | 2028-05-01 | CAD | 101.98 | 3.45% | — | 5 | $47.1M | Jul 2026 |
| ZJ2436534 | 4.125% fixed | 2028-07-05 | EUR | 101.69 | 3.21% | — | 1 | $235K | Jul 2026 |
| ZJ8788706 | 3.5% fixed | 2028-07-25 | EUR | 100.78 | 3.09% | — | 2 | $16.3M | Jul 2026 |
| 780086TY0 | 1.833% fixed | 2028-07-31 | CAD | 97.63 | 3.07% | — | 1 | $139K | Jul 2026 |
| 78016HZS2 | 5.2% fixed | 2028-08-01 | USD | 101.22 | 4.55% | 33 bp | 11 | $14.1M | Jul 2026 |
| AU3CB0303113 | 5.7% fixed | 2028-10-04 | AUD | 101.05 | 5.20% | — | 1 | $84K | Jun 2026 |
| BR6668239 | 0% fixed | 2028-10-05 | EUR | 187.84 | — | — | 1 | $242K | Jun 2026 |
| C8S08MTP8 | 0.01% fixed | 2028-10-05 | EUR | 93.55 | 3.12% | — | 2 | $475K | Jul 2026 |
| 78017FZU0 | 4.52% floating | 2028-10-18 | USD | 100.29 | — | — | 4 | $75.7M | Jul 2026 |
| 78017FZS5 | 4.522% fixed | 2028-10-18 | USD | 99.86 | 4.59% | 36 bp | 13 | $103.5M | Jul 2026 |
| 78017DAN8 | 4% fixed | 2028-11-03 | USD | 99.22 | 4.36% | 13 bp | 10 | $34.6M | Jul 2026 |
| 78017DAP3 | 4.37% floating | 2028-11-03 | USD | 100.10 | — | — | 5 | $59.6M | Jul 2026 |
| 779926FY5 | 3.626% variable | 2028-12-10 | CAD | 100.27 | — | — | 3 | $33.2M | Jul 2026 |
| 78015QVG3 | 0% fixed | 2028-12-14 | USD | 93.93 | 2.66% | -158 bp | 2 | $12.0M | Jul 2026 |
| 78017DAB4 | 4.483% floating | 2029-01-24 | USD | 100.24 | — | — | 6 | $111.6M | Jul 2026 |
| 78017DAA6 | 4.965% fixed | 2029-01-24 | USD | 100.47 | 4.76% | 52 bp | 14 | $40.0M | Jul 2026 |
| 78016HZV5 | 4.95% fixed | 2029-02-01 | USD | 100.77 | 4.62% | 38 bp | 9 | $12.3M | Jul 2026 |
| BV9821174 | 2.125% fixed | 2029-04-26 | EUR | 96.98 | 3.29% | — | 9 | $31.1M | Jul 2026 |
| XS2488800405 | 1.75% fixed | 2029-06-08 | EUR | 96.08 | 3.21% | — | 1 | $222K | Jul 2026 |
| 779926QY3 | 3.41% variable | 2029-06-12 | CAD | 99.78 | — | — | 4 | $23.2M | Jul 2026 |
| 78017DAY4 | 4.27% floating | 2029-07-10 | USD | 99.93 | — | — | 3 | $42.4M | Jul 2026 |
| 78017DAX6 | 4.65% fixed | 2029-07-10 | USD | 100.01 | 4.65% | 39 bp | 9 | $10.9M | Jul 2026 |
| 78017DAK4 | 4.498% fixed | 2029-08-06 | USD | 99.53 | 4.67% | 41 bp | 20 | $36.6M | Jul 2026 |
| 78017DAL2 | 4.51% floating | 2029-08-06 | USD | 100.33 | — | — | 3 | $39.4M | Jul 2026 |
| C8S08VJF1 | 2.75% fixed | 2030-02-04 | EUR | 98.46 | 3.22% | — | 2 | $7.8M | Jul 2026 |
| YR0349799 | 2.75% fixed | 2030-02-04 | EUR | 198.96 | — | — | 1 | $1.4M | Jun 2026 |
| 779926WD2 | 3.83% fixed | 2030-03-27 | CAD | 100.44 | 3.70% | — | 3 | $28.3M | Jul 2026 |
| 78017DAT5 | 4.4% fixed | 2030-04-17 | USD | 98.70 | 4.78% | 50 bp | 16 | $39.2M | Jul 2026 |
| XS3406773740 | 3.38% fixed | 2030-06-15 | EUR | 99.61 | 3.49% | — | 1 | $603K | Jul 2026 |
| 780086ZH0 | 5.228% fixed | 2030-06-24 | CAD | 105.40 | 3.73% | — | 4 | $11.1M | Jul 2026 |
| 78016HZZ6 | 4.969% fixed | 2030-08-02 | USD | 100.24 | 4.90% | 61 bp | 16 | $114.5M | Jul 2026 |
| C8S08RCQ3 | 4.375% fixed | 2030-10-02 | EUR | 103.38 | 3.49% | — | 4 | $1.4M | Jul 2026 |
| 779926DJ0 | 4% variable | 2030-10-17 | CAD | 100.55 | — | — | 2 | $5.4M | Jul 2026 |
| 78017FZT3 | 4.65% variable | 2030-10-18 | USD | 99.16 | — | — | 18 | $50.0M | Jul 2026 |
| YU7128785 | 4.88% fixed | 2030-11-01 | GBP | 99.22 | 5.08% | — | 1 | $267K | Jul 2026 |
| 78014RD49 | 5% fixed | 2030-12-30 | USD | 99.54 | 5.11% | 119 bp | 1 | $398K | Apr 2026 |
| XS2979759359 | 3.25% fixed | 2031-01-22 | EUR | 99.95 | 3.26% | — | 2 | $4.7M | Jun 2026 |
| BN6164063 | 0% fixed | 2031-01-27 | EUR | 174.61 | — | — | 1 | $599K | Jun 2026 |
| C8S08KPA9 | 0.01% fixed | 2031-01-27 | EUR | 86.40 | 3.32% | — | 1 | $9.0M | Jul 2026 |
| 78017DAD0 | 4.66% floating | 2031-02-04 | USD | 100.61 | — | — | 3 | $12.1M | Jul 2026 |
| 78017DAC2 | 5.153% fixed | 2031-02-04 | USD | 100.41 | 5.05% | 74 bp | 14 | $144.9M | Jul 2026 |
| 78017DAJ7 | 4.76% floating | 2031-05-02 | USD | 100.81 | — | — | 2 | $22.0M | Jul 2026 |
| 78017DAH1 | 4.97% fixed | 2031-05-02 | USD | 99.89 | 4.99% | 67 bp | 9 | $42.4M | Jul 2026 |
| 779926QX5 | 3.985% variable | 2031-07-22 | CAD | 100.31 | — | — | 4 | $17.7M | Jul 2026 |
| 78017DAM0 | 4.696% fixed | 2031-08-06 | USD | 98.72 | 4.99% | 66 bp | 14 | $30.7M | Jul 2026 |
| AU3CB0325751 | 4.738% variable | 2031-09-09 | AUD | 96.84 | — | — | 2 | $4.1M | Jul 2026 |
| XS3106098380 | 3.125% variable | 2031-09-27 | EUR | 98.26 | — | — | 3 | $31.8M | Jul 2026 |
| XS3019738452 | 5.1% variable | 2031-10-10 | GBP | 99.72 | — | — | 1 | $13.4M | Jul 2026 |
| 780086UA0 | 2.14% variable | 2031-11-03 | CAD | 99.74 | — | — | 1 | $1.9M | Jun 2026 |
| 78016EYH4 | 2.3% fixed | 2031-11-03 | USD | 88.08 | 4.90% | 55 bp | 9 | $13.4M | Jul 2026 |
| 78017DAQ1 | 4.305% fixed | 2031-11-03 | USD | 97.23 | 4.91% | 56 bp | 9 | $37.2M | Jul 2026 |
| 779926WF7 | 3.572% variable | 2031-12-09 | CAD | 98.52 | — | — | 3 | $25.2M | Jul 2026 |
| C8008HCX0 | 3.125% variable | 2032-02-03 | EUR | 97.77 | — | — | 3 | $28.4M | Jul 2026 |
| 780086UL6 | 2.94% variable | 2032-05-03 | CAD | 53.98 | — | — | 4 | $19.0M | Apr 2026 |
| 78017DAV0 | 4.612% fixed | 2032-05-03 | USD | 97.96 | 5.02% | 64 bp | 16 | $38.0M | Jul 2026 |
| 78016FZQ0 | 3.875% fixed | 2032-05-04 | USD | 94.37 | 5.01% | 63 bp | 6 | $7.9M | Jul 2026 |
| 78014RG53 | 5% fixed | 2032-07-21 | USD | 99.15 | 5.16% | 92 bp | 2 | $595K | May 2026 |
| XS3353857728 | 5.125% variable | 2032-08-01 | GBP | 99.08 | — | — | 2 | $20.0M | Jul 2026 |
| 78017DAZ1 | 4.95% fixed | 2032-08-05 | USD | 99.19 | 5.11% | 71 bp | 11 | $26.7M | Jul 2026 |
| 780086SY1 | 1.67% variable | 2033-01-28 | CAD | 97.88 | — | — | 1 | $140K | Jul 2026 |
| 78016FZX5 | 5% fixed | 2033-02-01 | USD | 99.17 | 5.15% | 72 bp | 11 | $18.4M | Jul 2026 |
| 780086WK6 | 5.01% variable | 2033-02-01 | CAD | 102.16 | — | — | 2 | $11.6M | Jul 2026 |
| DG5078176 | 3% fixed | 2033-03-16 | EUR | 97.63 | 3.40% | — | 3 | $12.1M | Jul 2026 |
| 78016HZQ6 | 5% fixed | 2033-05-02 | USD | 99.15 | 5.15% | 71 bp | 5 | $5.3M | Jul 2026 |
| 78016HZW3 | 5.15% fixed | 2034-02-01 | USD | 100.19 | 5.12% | 64 bp | 12 | $10.7M | Jul 2026 |
| 7800863G7 | 5.096% variable | 2034-04-03 | CAD | 103.07 | — | — | 2 | $533K | Jul 2026 |
| C8008HC93 | 3.75% fixed | 2034-08-03 | EUR | 98.95 | 3.91% | — | 2 | $1.1M | Jul 2026 |
| 7800867G3 | 4.829% variable | 2034-08-08 | CAD | 102.46 | — | — | 3 | $27.5M | Jul 2026 |
| 779926HR8 | 4.28% fixed | 2035-02-04 | CAD | 100.75 | 4.17% | — | 1 | $323K | Jul 2026 |
| 779926NA8 | 4.21% variable | 2035-07-03 | CAD | 100.26 | — | — | 2 | $358K | Jul 2026 |
| 779926DK7 | 4.46% variable | 2035-10-17 | CAD | 100.44 | — | — | 4 | $21.5M | Jul 2026 |
| 779926VM3 | 4.14% variable | 2036-05-05 | CAD | 100.12 | — | — | 3 | $7.6M | Jul 2026 |
| 779926WE0 | 4.371% variable | 2037-05-01 | CAD | 99.04 | — | — | 3 | $10.6M | Jul 2026 |
| 78014RTB6 | 8.5% fixed | 2039-02-28 | USD | 97.88 | 8.78% | 405 bp | 1 | $469K | Jul 2026 |
| 780086TQ7 | 3.65% fixed | 2081-11-24 | CAD | 98.96 | 3.69% | — | 1 | $2.9M | May 2026 |
| 780082AR4 | 7.5% fixed | 2084-05-02 | USD | 103.31 | 7.25% | 215 bp | 17 | $45.2M | Jul 2026 |
| 780082AT0 | 6.35% fixed | 2084-11-24 | USD | 94.99 | 6.69% | 159 bp | 7 | $3.3M | Jul 2026 |
| 780082AV5 | 6.75% fixed | 2085-08-24 | USD | 101.41 | 6.65% | 155 bp | 23 | $176.5M | Jul 2026 |
| 780082AY9 | 6.5% fixed | 2085-11-24 | USD | 97.14 | 6.69% | 160 bp | 24 | $86.8M | Jul 2026 |
| 780082BA0 | 6.5% fixed | 2086-05-24 | USD | 97.93 | 6.64% | 154 bp | 16 | $42.9M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 124 | $2.77B | 100.02 | 4.78% | 52 bp | 24 |
| Jun 2026 | 89 | $3.71B | 100.13 | 4.64% | 48 bp | 52 |
| May 2026 | 65 | $3.62B | 100.12 | 4.60% | 48 bp | 34 |
| Apr 2026 | 118 | $2.84B | 99.56 | 4.54% | 64 bp | 26 |
| Mar 2026 | 84 | $3.38B | 100.10 | 4.54% | 75 bp | 52 |
| Feb 2026 | 59 | $3.51B | 100.40 | 4.19% | 48 bp | 33 |
| Jan 2026 | 120 | $2.96B | 100.09 | 4.26% | 52 bp | 25 |
| Dec 2025 | 86 | $3.66B | 100.42 | 4.26% | 60 bp | 52 |
| Nov 2025 | 63 | $3.54B | 100.36 | 4.24% | 54 bp | 33 |
| Oct 2025 | 121 | $3.02B | 100.20 | 4.30% | 62 bp | 26 |
| Sep 2025 | 79 | $3.71B | 100.30 | 4.29% | 58 bp | 58 |
| Aug 2025 | 54 | $3.23B | 100.33 | 4.32% | 53 bp | 38 |
| Jul 2025 | 119 | $2.94B | 99.89 | 4.55% | 55 bp | 29 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 202 added, 137 cut, 67 new holders and 37 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $486.7M | $487.7M | -$1.1M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $439.1M | $438.7M | -$45.8M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $362.7M | $359.3M | $7.6M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $354.3M | $356.5M | $1.2M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $327.5M | $324.7M | $18.8M |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $270.4M | $237.0M | $28.4M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $256.2M | $223.0M | $50.7M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $222.9M | $217.8M | -$6.2M |
| iShares Floating Rate Bond ETF iShares Trust | 2026-07-31 | $199.5M | $199.9M | $19.0M |
| PIMCO Enhanced Short Maturity Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $172.3M | $172.5M | -$34.9M |
| Spectrum Preferred and Capital Securities Income Fund Principal Funds, Inc | 2026-05-31 | $156.7M | $156.2M | -$5.0M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $141.8M | $142.2M | $11.8M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $136.3M | $136.0M | -$1.6M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $133.0M | $133.9M | -$1.2M |
| PIMCO Short-Term Floating NAV Portfolio III PIMCO FUNDS | 2026-06-30 | $149.6M | $131.4M | $89.6M |
| Nuveen Preferred Securities and Income Fund Nuveen Investment Trust V | 2026-05-31 | $129.9M | $130.2M | $20.0M |
| JPMorgan Strategic Income Opportunities Fund JPMorgan Trust I | 2026-05-31 | $128.0M | $128.1M | -$29.0M |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $124.6M | $124.4M | $80.1M |
| VANGUARD ULTRA-SHORT-TERM BOND FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $122.7M | $122.8M | -$7.5M |
| Cohen & Steers Preferred Securities & Income Fund, Inc. COHEN & STEERS PREFERRED SECURITIES & INCOME FUND, INC. | 2026-06-30 | $117.8M | $119.4M | $17.4M |
| Victory Pioneer Multi-Asset Income Fund Victory Portfolios IV | 2026-07-31 | $2.5M | $119.3M | $1.6M |
| VANGUARD INSTITUTIONAL INTERMEDIATE-TERM BOND FUND VANGUARD MALVERN FUNDS | 2026-06-30 | $114.5M | $114.2M | $0 |
| Lord Abbett Ultra Short Bond Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $114.0M | $114.1M | -$22.2M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $115.0M | $113.6M | $10.6M |
| Bond Fund of America | 2026-06-30 | $106.1M | $106.4M | $6.8M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Navigator Tactical Fixed Income Fund ($50.0M), PIMCO Total Return Portfolio ($8.2M), PIMCO Total Return Portfolio ($7.2M), iShares Flexible Income Active ETF ($7.1M), DFA Global Core Plus Fixed Income Portfolio ($3.6M), Total Return Portfolio ($3.5M), Six Circles Tax Aware Ultra Short Duration Fund ($3.4M), SIIT CORE FIXED INCOME FUND ($3.3M), Capital Group U.S. Multi-Sector Income ETF ($2.5M), DFA Short-Duration Real Return Portfolio ($2.5M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 8 | $486.7M | $487.7M | 1.27% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 19 | $362.7M | $359.3M | 0.09% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 17 | $354.3M | $356.5M | 0.71% |
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 24 | $256.2M | $223.0M | 0.18% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 5 | $222.9M | $217.8M | 0.32% |
| FLOT iShares Floating Rate Bond ETF | 2026-07-31 | 12 | $199.5M | $199.9M | 1.94% |
| MINT PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 2026-06-30 | 5 | $172.3M | $172.5M | 1.05% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 16 | $141.8M | $142.2M | 0.20% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 23 | $136.3M | $136.0M | 0.10% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 19 | $133.0M | $133.9M | 0.61% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 12 | $115.0M | $113.6M | 0.38% |
| FPE First Trust Preferred Securities and Income ETF | 2026-07-31 | 2 | $93.7M | $93.6M | 1.48% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 10 | $75.0M | $75.3M | 0.71% |
| VUSB VANGUARD ULTRA-SHORT BOND ETF | 2026-06-30 | 7 | $71.1M | $71.2M | 0.80% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 19 | $67.8M | $67.1M | 0.58% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 52 bp spread prices in about 0.9% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Not available.
The stock side: 13F filings
What institutions report holding in RY's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 133 | $3.05B | 0 | — | 0 | — | 1 |
| 2026-06-30 | 981 | $128.26B | 26 | $947.0M | 27 | $1.61B | 1 |
| 2026-03-31 | 934 | $86.13B | 25 | $708.8M | 23 | $1.15B | 1 |
| 2025-12-31 | 904 | $104.27B | 23 | $1.15B | 26 | $1.33B | 1 |
| 2025-09-30 | 826 | $89.53B | 26 | $848.9M | 29 | $1.02B | 1 |
| 2025-06-30 | 790 | $82.76B | 20 | $750.0M | 25 | $898.3M | 1 |
Officials trading RY bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2026-09-17 | Ro Khanna | sale | Royal Bank of Canada | $15,001 - $50,000 | filing |
| 2026-01-07 | Kevin Hern | purchase | Royal Bank of Canada | $250,001 - $500,000 | filing |
| 2026-01-07 | Kevin Hern | purchase | ROYAL BANK OF CANADA 31F DUE 01/10/31 | $250,001 - $500,000 | filing |
| 2026-01-06 | Kevin Hern | purchase | ROYAL BANK OF CANADA 31F DUE 01/10/31 | $250,001 - $500,000 | filing |
| 2025-10-31 | President Donald J. Trump | purchase | ROYAL BANK OF CANADA NTS 04.510% 101827 DTD101824 | $100,001 - $250,000 | filing |
| 2025-10-10 | Kevin Hern | purchase | Royal Bank of Canada | $500,001 - $1,000,000 | filing |
| 2025-10-10 | Kevin Hern | purchase | Royal Bank of Canada | $1,000,001 - $5,000,000 | filing |
| 2023-06-28 | Ro Khanna | sale | Royal Bank of Canada | $1,001 - $15,000 | filing |
| 2023-06-21 | Ro Khanna | purchase | Royal Bank of Canada | $15,001 - $50,000 | filing |
| 2023-06-05 | Ro Khanna | purchase | Royal Bank of Canada | $15,001 - $50,000 | filing |
| 2023-06-05 | Ro Khanna | purchase | Royal Bank of Canada | $100,001 - $250,000 | filing |
| 2023-05-08 | Ro Khanna | purchase | Royal Bank of Canada | $100,001 - $250,000 | filing |
| 2023-05-08 | Ro Khanna | purchase | Royal Bank of Canada | $1,001 - $15,000 | filing |
| 2023-05-08 | Ro Khanna | purchase | Royal Bank of Canada | $15,001 - $50,000 | filing |
| 2023-04-27 | Ro Khanna | purchase | Royal Bank of Canada | $15,001 - $50,000 | filing |
| 2023-04-17 | Ro Khanna | purchase | Royal Bank of Canada | $15,001 - $50,000 | filing |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.