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Bonds · Sovereign

China government bonds

China'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

BondsMeasured againstCountSpread10-year spreadPriced-in 5y odds1-month changeMedian yieldHeld by US funds
CNY Own-currency bonds own currency: yield only, no default number138 — —— —1.49% $4.21B
USD Emerging markets, US-dollar bonds vs US Treasuries15 -24 bp —0.0% +3 bp4.09% $363.0M
EUR Euro bonds of non-euro countries vs German Bunds9 7 bp 10 bp0.6% -11 bp3.13% $5.4M

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.

USD spread history

Median spread vs US Treasuries, month-ends with complete filings. Fund-reported.

-59 bp6 bp71 bpJan 2021Jul 20262021-01-31: 25 bp2021-02-28: 45 bp2021-03-31: 36 bp2021-04-30: 28 bp2021-05-31: 23 bp2021-06-30: 25 bp2021-07-31: 19 bp2021-08-31: 22 bp2021-09-30: 31 bp2021-10-31: 28 bp2021-11-30: 16 bp2021-12-31: 31 bp2022-01-31: 34 bp2022-02-28: 18 bp2022-03-31: 71 bp2022-04-30: 37 bp2022-05-31: 18 bp2022-06-30: 29 bp2022-07-31: -1 bp2022-08-31: 33 bp2022-09-30: 42 bp2022-10-31: 24 bp2022-11-30: -5 bp2022-12-31: 38 bp2023-01-31: 20 bp2023-02-28: 40 bp2023-03-31: -6 bp2023-04-30: 18 bp2023-05-31: 48 bp2023-06-30: 58 bp2023-07-31: 14 bp2023-08-31: -1 bp2023-09-30: 48 bp2023-10-31: 18 bp2023-11-30: -7 bp2023-12-31: 12 bp2024-01-31: 6 bp2024-02-29: 18 bp2024-03-31: 21 bp2024-04-30: 22 bp2024-05-31: 2 bp2024-06-30: 8 bp2024-07-31: -21 bp2024-08-31: 0 bp2024-09-30: 6 bp2024-10-31: 7 bp2024-11-30: -34 bp2024-12-31: -12 bp2025-01-31: -28 bp2025-02-28: -53 bp2025-03-31: -36 bp2025-04-30: -39 bp2025-05-31: -30 bp2025-06-30: -45 bp2025-07-31: -35 bp2025-08-31: -43 bp2025-09-30: -34 bp2025-10-31: -34 bp2025-11-30: -59 bp2025-12-31: -23 bp2026-01-31: -30 bp2026-02-28: -50 bp2026-03-31: -13 bp2026-04-30: -18 bp2026-05-31: -36 bp2026-06-30: -27 bp2026-07-31: -24 bp

EUR spread history

Median spread vs German Bunds, month-ends with complete filings. Fund-reported.

3 bp105 bp207 bpJan 2021Jul 20262021-01-31: 99 bp2021-04-30: 75 bp2021-07-31: 111 bp2021-10-31: 91 bp2021-12-31: 116 bp2022-01-31: 101 bp2022-03-31: 99 bp2022-04-30: 108 bp2022-06-30: 180 bp2022-07-31: 207 bp2022-10-31: 156 bp2023-01-31: 94 bp2023-04-30: 117 bp2023-07-31: 107 bp2023-10-31: 103 bp2024-01-31: 96 bp2024-04-30: 67 bp2024-06-30: 68 bp2024-07-31: 81 bp2024-09-30: 72 bp2024-10-31: 63 bp2024-12-31: 65 bp2025-01-31: 59 bp2025-03-31: 62 bp2025-04-30: 62 bp2025-06-30: 45 bp2025-07-31: 30 bp2025-09-30: 32 bp2025-10-31: 24 bp2026-01-31: 16 bp2026-04-30: 3 bp2026-06-30: 18 bp2026-07-31: 7 bp

China's CNY curve

Yield to maturity of each CNY bond US funds hold (212 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

1.07%1.64%2.21%0y15y30yCHINA DEVELOPMENT BANK 3.43 2027-01-14: 1.37%CHINA DEVELOPMENT BANK 4.2 2027-01-19: 1.58%CHINA GOVERNMENT BOND 2.04 2027-02-25: 1.08%CHINA DEVELOPMENT BANK 2.0 2027-04-12: 1.40%CHINA GOVERNMENT BOND 2.48 2027-04-15: 1.07%CHINA GOVERNMENT BOND 1.85 2027-05-15: 1.17%CHINA GOVERNMENT BOND 1.38 2027-06-15: 1.30%EXPORT-IMPORT BANK CHINA 4.15 2027-06-18: 1.45%CHINA GOVERNMENT BOND 3.48 2027-06-29: 1.30%CHINA GOVERNMENT BOND 2.5 2027-07-25: 1.10%CHINA GOVERNMENT BOND 1.62 2027-08-15: 1.19%AGRICUL DEV BANK CHINA 2.5 2027-08-24: 1.40%Export-Import Bank of China/The 1.67 2027-09-13: 1.41%CHINA GOVERNMENT BOND 1.44 2027-09-15: 1.21%CHINA GOVERNMENT BOND 1.42 2027-11-15: 1.23%CHINA GOVERNMENT BOND 1.36 2027-12-15: 1.28%China Development Bank 3.4 2028-01-08: 1.43%Export-Import Bank of China/The 3.4 2028-01-11: 1.44%CHINA GOVERNMENT BOND 2.64 2028-01-15: 1.08%AGRICUL DEV BANK CHINA 3.48 2028-02-04: 1.43%CHINA DEVELOPMENT BANK 4.88 2028-02-09: 1.45%CHINA DEVE 1.47% 02/14/28/CNY/ 1.47 2028-02-14: 1.42%CHINA GOVERNMENT BOND 1.45 2028-02-25: 1.21%Agricultural Development Bank of China 2.9 2028-03-08: 1.45%CHINA GOVERNMENT BOND 1.29 2028-03-15: 1.33%CHINA GOVERNMENT BOND 2.62 2028-04-15: 1.10%AGRICUL DEV BANK CHINA 4.65 2028-05-11: 1.47%China Development Bank 1.35 2028-05-12: 1.42%CHINA GOVERNMENT BOND 3.01 2028-05-13: 1.11%CHINA GOVERNMENT BOND 1.46 2028-05-25: 1.22%CHINA DEVELOPMENT BANK 1.32 2028-06-16: 1.39%CHINA DEVELOPMENT BANK 5.25 2028-06-24: 1.44%CHINA DEVELOPMENT BANK 4.04 2028-07-06: 1.47%CHINA GOVERNMENT BOND 2.4 2028-07-15: 1.19%EXPORT-IMPORT BANK CHINA 2.5 2028-08-04: 1.46%Agricultural Development Bank of China 1.61 2028-08-07: 1.45%Agricultural Development Bank of China 3.19 2028-08-12: 1.47%CHINA GOVERNMENT BOND 1.42 2028-08-15: 1.24%CHINA GOVERNMENT BOND 2.48 2028-09-25: 1.23%CHINA GOVERNMENT BOND 2.91 2028-10-14: 1.16%CHINA GOVERNMENT BOND 2.55 2028-10-15: 1.21%CHINA GOVERNMENT BOND 1.4 2028-11-25: 1.26%China Development Bank 3.48 2029-01-08: 1.48%CHINA GOVERNMENT BOND 2.37 2029-01-15: 1.25%CHINA GOVERNMENT BOND 1.32 2029-02-25: 1.26%China Development Bank 2.99 2029-03-01: 1.48%CHINA GOVERNMENT BOND 2.39 2029-03-15: 1.35%EXPORT-IMPORT BANK CHINA 2.31 2029-03-15: 1.52%CHINA GOVERNMENT BOND 2.8 2029-03-24: 1.27%AGRICUL DEV BANK CHINA 2.22 2029-04-09: 1.47%CHINA GOVERNMENT BOND 2.05 2029-04-15: 1.27%Export-Import Bank of China/The 3.86 2029-05-20: 1.48%CHINA DEVELOPMENT BANK 3.65 2029-05-21: 1.48%CHINA GOVERNMENT BOND 4.29 2029-05-22: 1.33%CHINA GOVERNMENT BOND 3.29 2029-05-23: 1.14%CHINA GOVERNMENT BOND 1.26 2029-05-25: 1.33%CHINA GOVERNMENT BOND 2.75 2029-06-15: 1.27%AGRICUL DEV BANK CHINA 3.74 2029-07-12: 1.48%CHINA GOVERNMENT BOND 1.91 2029-07-15: 1.28%EXPORT-IMPORT BANK CHINA 2.74 2029-09-05: 1.47%China Development Bank 3.45 2029-09-20: 1.50%CHINA DEVELOPMENT BANK 3.45 2029-09-20: 1.49%CHINA GOVERNMENT BOND 2.62 2029-09-25: 1.30%CHINA GOVERNMENT BOND 1.74 2029-10-15: 1.32%CHINA GOVERNMENT BOND 3.13 2029-11-21: 1.14%CHINA GOVERNMENT BOND 2.79 2029-12-15: 1.26%CHINA GOVERNMENT BOND 1.43 2030-01-25: 1.33%CHINA DEVELOPMENT BANK 3.07 2030-03-10: 1.51%Agricultural Development Bank of China 3.01 2030-03-16: 1.51%EXPORT-IMPORT BANK CHINA 3.23 2030-03-23: 1.52%CHINA GOVERNMENT BOND 2.8 2030-03-25: 1.27%AGRICUL DEV BANK CHINA 2.96 2030-04-17: 1.51%CHINA GOVERNMENT BOND 1.45 2030-04-25: 1.38%CHINA GOVERNMENT BOND 2.68 2030-05-21: 1.31%CHINA GOVER 3.6% 05/21/30/CNH/ 3.6 2030-05-21: 1.42%China Development Bank 1.54 2030-06-13: 1.50%CHINA DEVELOPMENT BANK 3.09 2030-06-18: 1.52%CHINA GOVERNMENT BOND 2.62 2030-06-25: 1.32%China Development Bank 2.71 2030-07-10: 1.53%CHINA GOVERNMENT BOND 1.55 2030-07-25: 1.31%CHINA GOVERNMENT BOND 2.6 2030-09-15: 1.38%CHINA DEVELOPMENT BANK 3.7 2030-10-20: 1.55%CHINA GOVERNMENT BOND 1.63 2030-10-25: 1.39%AGRICUL DEV BANK CHINA 3.79 2030-10-26: 1.56%AGRICUL DEV BANK CHINA 3.8 2030-10-27: 1.62%EXPORT-IMPORT BANK CHINA 3.74 2030-11-16: 1.55%CHINA GOVERNMENT BOND 3.27 2030-11-19: 1.15%CHINA GOVERNMENT BOND 2.54 2030-12-25: 1.36%China Development Bank 2.64 2031-01-08: 1.55%CHINA GOVERNMENT BOND 1.54 2031-01-25: 1.41%CHINA DEVELOPMENT BANK 3.66 2031-03-01: 1.56%CHINA GOVERNMENT BOND 2.28 2031-03-25: 1.40%CHINA GOVERNMENT BOND 1.5 2031-04-15: 1.43%Agricultural Development Bank of China 3.52 2031-05-24: 1.56%CHINA GOVERNMENT BOND 3.02 2031-05-27: 1.29%CHINA DEVELOPMENT BANK 3.41 2031-06-07: 1.56%CHINA GOVERNMENT BOND 2.12 2031-06-25: 1.41%EXPORT-IMPORT BANK CHINA 3.38 2031-07-16: 1.57%Agricultural Development Bank of China 2.01 2031-09-11: 1.57%CHINA DEVELOPMENT BANK 3.12 2031-09-13: 1.57%CHINA GOVERNMENT BOND 1.87 2031-09-15: 1.44%Agricultural Development Bank of China 3.3 2031-11-05: 1.58%CHINA GOVERNMENT BOND 2.89 2031-11-18: 1.34%CHINA GOVERNMENT BOND 4.15 2031-12-12: 1.51%CHINA GOVERNMENT BOND 1.49 2031-12-25: 1.43%CHINA DEVELOPMENT BANK 3.0 2032-01-17: 1.59%CHINA GOVERNMENT BOND 2.75 2032-02-17: 1.43%Export-Import Bank of China/The 3.18 2032-03-11: 1.61%CHINA GOVERNMENT BOND 1.79 2032-03-25: 1.45%CHINA GOVERNMENT BOND 1.57 2032-05-15: 1.49%CHINA GOVERNMENT BOND 2.76 2032-05-15: 1.46%Agricultural Development Bank of China 3.06 2032-06-06: 1.62%CHINA DEVELOPMENT BANK 2.96 2032-07-18: 1.62%CHINA DEVELOPMENT BANK 4.3 2032-08-02: 1.75%CHINA GOVERNMENT BOND 2.69 2032-08-15: 1.47%EXPORT-IMPORT BANK CHINA 2.9 2032-08-19: 1.64%CHINA GOVERNMENT BOND 2.6 2032-09-01: 1.48%CHINA GOVERNMENT BOND 1.78 2032-09-15: 1.49%AGRICUL DEV BANK CHINA 2.97 2032-10-14: 1.64%CHINA DEVELOPMENT BANK 2.77 2032-10-24: 1.63%CHINA GOVERNMENT BOND 2.8 2032-11-15: 1.49%CHINA GOVERNMENT BOND 1.66 2032-12-25: 1.50%EXPORT-IMPORT BANK CHINA 3.1 2033-02-13: 1.65%CHINA GOVERNMENT BOND 2.88 2033-02-25: 1.46%AGRICUL DEV BANK CHINA 3.1 2033-02-27: 1.66%CHINA DEVELOPMENT BANK 3.02 2033-03-06: 1.65%China Government Bond 1.66 2033-03-25: 1.53%CHINA DEVELOPMENT BANK 2.82 2033-05-22: 1.66%CHINA GOVERNMENT BOND 2.67 2033-05-25: 1.53%AGRICUL DEV BANK CHINA 2.83 2033-06-16: 1.67%Export-Import Bank of China/The 2.85 2033-07-07: 1.66%CHINA GOVERNMENT BOND 2.52 2033-08-25: 1.54%CHINA DEVELOPMENT BANK 2.69 2033-09-11: 1.67%CHINA GOVERNMENT BOND 2.67 2033-11-25: 1.53%CHINA GOVERNMENT BOND 2.35 2034-02-25: 1.56%Agricultural Development Bank of China 2.47 2034-04-02: 1.71%EXPORT-IMPORT BANK CHINA 2.44 2034-04-12: 1.71%CHINA DEVELOPMENT BANK 2.35 2034-05-06: 1.70%CHINA GOVERNMENT BOND 4.5 2034-05-22: 1.66%CHINA GOVERNMENT BOND 2.27 2034-05-25: 1.56%China Development Bank 2.26 2034-07-19: 1.72%CHINA GOVERNMENT BOND 2.11 2034-08-25: 1.60%CHINA GOVERNMENT BOND 2.17 2034-08-29: 1.59%Agricultural Development Bank of China 2.09 2034-09-26: 1.73%CHINA GOVERNMENT BOND 2.04 2034-11-25: 1.62%China Development Bank 1.57 2035-01-03: 1.74%AGRICUL DE 1.66% 01/09/35/CNY/ 1.66 2035-01-09: 1.75%CHINA GOVERNMENT BOND 1.61 2035-02-15: 1.62%China Development Bank 1.8 2035-04-02: 1.74%CHINA GOVERNMENT BOND 1.65 2035-05-15: 1.64%CHINA GOVERNMENT BOND 1.67 2035-05-25: 1.64%China Development Bank 1.65 2035-06-18: 1.75%AGRICUL DEV BANK CHINA 1.82 2035-08-07: 1.77%CHINA GOVERNMENT BOND 1.83 2035-08-25: 1.68%CHINA DEVELOPMENT BANK 1.87 2035-09-05: 1.78%CHINA GOVERNMENT BOND 3.74 2035-09-22: 1.48%CHINA GOVERNMENT BOND 1.78 2035-11-15: 1.70%EXPORT-IMPORT BANK CHINA 3.88 2036-01-12: 1.78%CHINA DEVELOPMENT BANK 3.8 2036-01-25: 1.78%CHINA GOVERNMENT BOND 1.75 2036-02-25: 1.71%China Development Bank 1.92 2036-03-06: 1.78%CHINA GOVERNMENT BOND 1.72 2036-05-15: 1.71%CHINA GOVERNMENT BOND 3.9 2036-07-04: 1.74%China Development Bank 4.01 2037-01-09: 1.81%China Government Bond 4.27 2037-05-17: 1.76%CHINA GOVERNMENT BOND 2.25 2039-08-29: 1.87%CHINA GOVERNMENT BOND 3.96 2040-07-29: 1.77%China Development Bank 3.9 2040-08-03: 1.94%CHINA GOVERNMENT BOND 3.96 2040-08-16: 1.74%CHINA GOVERNMENT BOND 4.5 2041-06-23: 1.75%China Development Bank 3.49 2041-11-08: 2.03%China Development Bank 3.03 2043-07-24: 2.12%CHINA GOVERNMENT BOND 2.49 2044-05-25: 2.09%CHINA GOVERNMENT BOND 2.33 2044-08-15: 2.10%CHINA GOVERNMENT BOND 1.98 2045-04-25: 2.13%CHINA GOVERNMENT BOND 1.92 2045-07-15: 2.12%CHINA GOVERNMENT BOND 3.94 2045-07-27: 2.13%CHINA GOVERNMENT BOND 3.52 2046-04-25: 2.13%CHINA GOVERNMENT BOND 3.27 2046-08-22: 2.14%China Government Bond 3.77 2047-02-20: 2.13%CHINA GOVERNMENT BOND 4.05 2047-07-24: 2.12%CHINA GOVERNMENT BOND 4.28 2047-10-23: 2.13%CHINA GOVERNMENT BOND 4.22 2048-03-19: 2.16%China Government Bond 3.97 2048-07-23: 2.17%CHINA GOVERNMENT BOND 4.08 2048-10-22: 2.14%CHINA GOVERNMENT BOND 3.86 2049-07-22: 2.17%CHINA GOVERNMENT BOND 3.39 2050-03-16: 2.18%CHINA GOVERNMENT BOND 3.81 2050-09-14: 2.17%CHINA GOVERNMENT BOND 3.72 2051-04-12: 2.18%CHINA GOVERNMENT BOND 3.53 2051-10-18: 2.17%CHINA GOVERNMENT BOND 3.32 2052-04-15: 2.16%CHINA GOVERNMENT BOND 3.12 2052-10-25: 2.18%CHINA GOVERNMENT BOND 3.19 2053-04-15: 2.18%CHINA GOVERNMENT BOND 3.0 2053-10-15: 2.16%CHINA GOVERNMENT BOND 2.57 2054-05-20: 2.17%CHINA GOVERNMENT BOND 2.47 2054-07-25: 2.19%CHINA GOVERNMENT BOND 2.19 2054-09-25: 2.17%CHINA GOVERNMENT BOND 1.92 2055-01-15: 2.18%CHINA GOVERNMENT BOND 1.88 2055-04-25: 2.14%CHINA GOVERNMENT BOND 1.9 2055-07-15: 2.19%CHINA GOVERNMENT BOND 2.38 2056-01-15: 2.21%CHINA GOVERNMENT BOND 2.2 2056-04-25: 2.19%China Government Bond 2.23 2056-06-25: 2.20%

China's EUR curve

Yield to maturity of each EUR bond US funds hold (9 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

2.85%3.17%3.49%0y6y12yCHINA GOVT INTL BOND 2.38 2029-11-25: 2.85%CHINA GOVT INTL BOND 2.625 2031-07-03: 2.93%CHINA GOVT INTL BOND 2.63 2031-10-09: 2.97%China Government International Bond 0.5 2031-11-12: 3.13%CHINA GOVT INTL BOND 2.63 2032-11-25: 3.08%CHINA GOVT INTL BOND 0.63 2033-11-17: 3.15%CHINA GOVT INTL BOND 2.88 2034-07-03: 3.21%CHINA GOVT INTL BOND 3.13 2038-07-03: 3.49%

China's USD curve

Yield to maturity of each USD bond US funds hold (28 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

3.96%4.38%4.80%0y13y25yWuhan Metro Group Co. Ltd. 4.25 2027-09-13: 4.80%CHINA GOVT INTL BOND 2.625 2027-11-02: 4.04%China Government International Bonds 4.125 2027-11-20: 4.05%EXPORT-IMPORT BANK CHINA 3.25 2027-11-28: 4.46%Ganzhou Development Investment Holding Group Co. Ltd. 5.05 2028-03-19: 4.78%Zhangzhou City Transportation Development Group Co. Ltd. 5.1 2028-04-09: 4.78%Fujian Zhanglong Group Co. Ltd. 5.1 2028-04-24: 4.73%Chengdu Communications Investment Group Co. Ltd. 4.9 2028-05-07: 4.56%Guangzhou Development District Investment Group Co. Ltd. 4.5 2028-07-07: 4.75%Zhangzhou Jiulongjiang Group Co. Ltd. 4.55 2028-07-09: 4.74%CHINA GOVT INTL BOND 3.5 2028-10-19: 3.96%CHINA GOVT INTL BOND 3.625 2028-11-13: 4.06%CHINA GOVT 3.625 2028-11-13: 4.02%Yiwu State-owned Capital Operation Co. Ltd. 4.35 2029-05-29: 4.64%Chengdu Communications Investment Group Co. Ltd. 5.05 2029-11-07: 4.56%China Government International Bond 4.25 2029-11-20: 4.00%CHINA GOVT INTL BOND 2.125 2029-12-03: 4.03%CHINA GOVT INTL BOND 1.2 2030-10-21: 4.09%CHINA DEVELOPMENT BANK 1.63 2030-10-27: 4.47%CHINA GOVT INTL BOND 3.75 2030-11-13: 4.15%CHINA GOVT INTL BOND 3.75 2030-11-13: 4.17%CHINA GOVT INTL BOND 1.75 2031-10-26: 4.09%China Development Bank 4.0 2037-01-24: 4.71%CHINA GOVT INTL BOND 2.75 2039-12-03: 4.34%China Government International Bond 4.0 2048-10-19: 4.63%China Government International Bond 2.25 2050-10-21: 4.72%China Government International Bond 2.5 2051-10-26: 4.73%

Who holds China's debt

Fund series holding China's government and government-related bonds in their latest quarterly report: 120 now, 127 a quarter earlier. Names as reported in the filings.

Fund seriesReportBondsFace valueValue
iShares Core International Aggregate Bond ETF2026-07-31 100$12.32B$1.93B
Six Circles Global Bond Fund2026-06-30 89$12.42B$1.92B
VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND2026-07-31 118$12.10B$1.90B
VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND2026-07-31 96$9.80B$1.53B
PIMCO International Bond Fund (U.S. Dollar-Hedged)2026-06-30 6$6.11B$952.7M
T. Rowe Price International Bond Fund (USD Hedged)2026-06-30 15$3.76B$504.4M
VanEck J.P. Morgan EM Local Currency Bond ETF2026-06-30 93$2.78B$424.1M
iShares Global Government Bond USD Hedged Active ETF2026-07-31 50$1.83B$284.3M
State Street(R) SPDR(R) Bloomberg Emerging Markets Local Bond ETF2026-06-30 106$1.87B$279.9M
iShares J.P. Morgan USD Emerging Markets Bond ETF2026-07-31 9$259.3M$248.5M
American Funds Emerging Markets Bond Fund2026-06-30 20$1.63B$245.7M
AB GLOBAL BOND FUND, INC.2026-06-30 4$1.13B$164.1M
Nuveen International Bond Fund2026-06-30 12$950.5M$147.7M
American Funds Global Balanced Fund2026-07-31 10$893.3M$136.6M
Global Bond Fund2026-07-31 5$686.0M$108.2M
iShares J.P. Morgan EM Local Currency Bond ETF2026-07-31 99$695.9M$106.6M
Franklin International Aggregate Bond ETF2026-06-30 6$660.0M$105.2M
Capital World Bond Fund2026-06-30 18$583.3M$91.8M
BNY Mellon Global Fixed Income Fund2026-06-30 1$526.0M$77.3M
PIMCO Emerging Markets Local Currency and Bond Fund2026-06-30 7$490.0M$74.3M

ETFs holding China's bonds

From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.

ETFReportBondsValue% of net assets
IAGG iShares Core International Aggregate Bond ETF 2026-07-31100$1.93B 17.24%
BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND 2026-07-3196$1.53B 1.25%
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF 2026-06-3093$424.1M 8.71%
EBND State Street(R) SPDR(R) Bloomberg Emerging Markets Local Bond ETF 2026-06-30106$279.9M 12.38%
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF 2026-07-319$248.5M 1.70%
LEMB iShares J.P. Morgan EM Local Currency Bond ETF 2026-07-3199$106.6M 14.89%
FLIA Franklin International Aggregate Bond ETF 2026-06-306$105.2M 13.71%
BWX State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF 2026-06-3074$61.5M 4.57%
VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND 2026-07-3115$61.2M 0.92%
PCY Invesco Emerging Markets Sovereign Debt ETF 2026-07-313$37.9M 2.74%
CGIB Capital Group International Bond ETF (USD-Hedged) 2026-06-304$24.3M 8.81%
IUSB iShares Core Universal USD Bond ETF 2026-07-3128$23.8M 0.06%
CBON VanEck China Bond ETF 2026-06-3025$14.7M 61.82%
BWZ State Street(R) SPDR(R) Bloomberg Short Term International Treasury Bond ETF 2026-06-3020$13.4M 4.54%
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF 2026-07-319$11.9M 1.41%

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.

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms