Switzerland government bonds
Switzerland'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 |
|---|---|---|---|---|---|---|---|---|
| CHF Own-currency bonds | own currency: yield only, no default number | 22 | — | — | — | — | -2.53% | $1.41B |
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.
Switzerland's CHF curve
Yield to maturity of each CHF bond US funds hold (25 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Switzerland's debt
Fund series holding Switzerland's government and government-related bonds in their latest quarterly report: 30 now, 31 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 | 32 | $417.2M | $541.8M |
| Permanent Portfolio | 2026-07-31 | 5 | $435.0M | $538.9M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 29 | $348.2M | $459.9M |
| Fidelity Series International Developed Markets Bond Index Fund | 2026-06-30 | 18 | $284.5M | $390.1M |
| iShares Core International Aggregate Bond ETF | 2026-07-31 | 7 | $42.6M | $51.4M |
| Fidelity Advisor Strategic Income Fund | 2026-06-30 | 1 | $30.0M | $45.4M |
| Six Circles Global Bond Fund | 2026-06-30 | 17 | $33.5M | $42.2M |
| Nuveen International Aggregate Bond ETF | 2026-06-30 | 16 | $28.9M | $39.0M |
| BNY Mellon Global Fixed Income Fund | 2026-06-30 | 1 | $14.4M | $18.3M |
| State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF | 2026-06-30 | 20 | $8.2M | $11.3M |
| Nuveen International Bond Fund | 2026-06-30 | 2 | $7.8M | $9.9M |
| Fidelity International Bond Index Fund | 2026-06-30 | 9 | $6.1M | $7.7M |
| iShares Global Government Bond USD Hedged Active ETF | 2026-07-31 | 11 | $5.1M | $6.6M |
| VIP Strategic Income Portfolio | 2026-06-30 | 1 | $3.2M | $4.8M |
| International Bond Fund | 2026-07-31 | 3 | $2.9M | $3.7M |
| Columbia Diversified Fixed Income Allocation ETF | 2026-07-31 | 2 | $2.4M | $3.4M |
| Empower Global Bond Fund | 2026-06-30 | 2 | $2.3M | $3.2M |
| SIT International Fixed Income Fund | 2026-06-30 | 1 | $1.7M | $2.5M |
| Frost Total Return Bond Fund | 2026-07-31 | 1 | $10.0M | $2.4M |
| College Retirement Equities Fund - Core Bond Account | 2026-06-30 | 1 | $1.7M | $2.1M |
ETFs holding Switzerland'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 | 29 | $459.9M | 0.38% |
| IAGG iShares Core International Aggregate Bond ETF | 2026-07-31 | 7 | $51.4M | 0.46% |
| NXUS Nuveen International Aggregate Bond ETF | 2026-06-30 | 16 | $39.0M | 1.01% |
| BWX State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF | 2026-06-30 | 20 | $11.3M | 0.84% |
| DIAL Columbia Diversified Fixed Income Allocation ETF | 2026-07-31 | 2 | $3.4M | 0.89% |
| BWZ State Street(R) SPDR(R) Bloomberg Short Term International Treasury Bond ETF | 2026-06-30 | 1 | $1.4M | 0.49% |
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.