Bulgaria government bonds
Bulgaria's bonds as US funds mark them in their filings (SEC Form N-PORT), by currency. Fund marks as of Jul 2026; they lag the market by about two months.
By currency
| Bonds | Measured against | Count | Spread | 10-year spread | Priced-in 5y odds | 1-month change | Median yield | Held by US funds |
|---|---|---|---|---|---|---|---|---|
| EUR Euro bonds of non-euro countries | vs German Bunds | 15 | 75 bp | 81 bp | 6.1% | -3 bp | 3.88% | $403.5M |
| USD Emerging markets, US-dollar bonds | vs US Treasuries | 1 | n/a | — | — | — | — | $48.9M |
Priced-in odds = spread ÷ (1 − 40% recovery) over five years; it includes a risk premium and overstates actual defaults. Own-currency bonds get a yield and no odds: a government can print its own currency.
EUR spread history
Median spread vs German Bunds, month-ends with complete filings. Fund-reported.
USD spread history
Median spread vs US Treasuries, month-ends with complete filings. Fund-reported.
Bulgaria's EUR curve
Yield to maturity of each EUR bond US funds hold (15 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Bulgaria's debt
Fund series holding Bulgaria's government and government-related bonds in their latest quarterly report: 117 now, 111 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND | 2026-07-31 | 9 | $146.5M | $167.4M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 9 | $120.5M | $138.5M |
| T. Rowe Price International Bond Fund (USD Hedged) | 2026-06-30 | 2 | $52.5M | $59.0M |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 2026-06-30 | 2 | $33.2M | $36.7M |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 1 | $31.3M | $29.8M |
| T. Rowe Price Emerging Markets Bond Fund | 2026-06-30 | 2 | $22.0M | $22.1M |
| MFS Emerging Markets Debt Fund | 2026-07-31 | 1 | $16.7M | $18.8M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND | 2026-07-31 | 1 | $15.5M | $17.9M |
| Six Circles Credit Opportunities Fund | 2026-06-30 | 2 | $12.2M | $13.6M |
| THE HARTFORD BALANCED INCOME FUND | 2026-07-31 | 5 | $10.7M | $11.1M |
| PIMCO Emerging Markets Bond Fund | 2026-06-30 | 2 | $9.7M | $10.0M |
| Capital World Bond Fund | 2026-06-30 | 3 | $8.5M | $9.6M |
| PGIM Global Total Return Fund | 2026-07-31 | 1 | $8.2M | $8.9M |
| American Funds Global Balanced Fund | 2026-07-31 | 1 | $7.3M | $8.8M |
| VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 1 | $7.5M | $7.1M |
| Nuveen International Aggregate Bond ETF | 2026-06-30 | 11 | $6.9M | $6.9M |
| iShares Core International Aggregate Bond ETF | 2026-07-31 | 13 | $5.9M | $6.6M |
| VANGUARD STAR CORE-PLUS BOND FUND | 2026-07-31 | 1 | $5.3M | $6.0M |
| T. Rowe Price International Bond Fund | 2026-06-30 | 2 | $5.2M | $5.9M |
| AST PGIM Aggressive Multi-Asset Portfolio | 2026-06-30 | 3 | $4.5M | $5.4M |
ETFs holding Bulgaria's bonds
From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Value | % of net assets |
|---|---|---|---|---|
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 9 | $138.5M | 0.11% |
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 1 | $29.8M | 0.20% |
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 1 | $7.1M | 0.11% |
| NXUS Nuveen International Aggregate Bond ETF | 2026-06-30 | 11 | $6.9M | 0.18% |
| IAGG iShares Core International Aggregate Bond ETF | 2026-07-31 | 13 | $6.6M | 0.06% |
| JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 4 | $3.0M | 0.69% |
| BWX State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF | 2026-06-30 | 5 | $2.4M | 0.18% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $1.7M | 0.00% |
| EMBD Global X Emerging Markets Bond ETF | 2026-05-31 | 1 | $1.1M | 0.42% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 4 | $423K | 0.04% |
| EMHC State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF | 2026-06-30 | 1 | $369K | 0.14% |
| HTRB Hartford Total Return Bond ETF | 2026-07-31 | 1 | $286K | 0.01% |
| CGIB Capital Group International Bond ETF (USD-Hedged) | 2026-06-30 | 1 | $273K | 0.10% |
| JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 2026-05-31 | 1 | $195K | 0.30% |
| BWZ State Street(R) SPDR(R) Bloomberg Short Term International Treasury Bond ETF | 2026-06-30 | 1 | $115K | 0.04% |
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.