Estonia government bonds
Estonia'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 members, euro bonds (vs German Bunds) | vs German Bunds | 3 | 43 bp | 54 bp | 3.6% | -1 bp | 3.53% | $56.4M |
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.
EUR spread history
Median spread vs German Bunds, month-ends with complete filings. Fund-reported.
Estonia's EUR curve
Yield to maturity of each EUR bond US funds hold (3 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Estonia's debt
Fund series holding Estonia's government and government-related bonds in their latest quarterly report: 17 now, 20 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| T. Rowe Price International Bond Fund (USD Hedged) | 2026-06-30 | 1 | $45.9M | $52.4M |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND | 2026-07-31 | 2 | $22.8M | $26.0M |
| Nuveen International Aggregate Bond ETF | 2026-06-30 | 3 | $21.1M | $23.7M |
| Fidelity Series International Developed Markets Bond Index Fund | 2026-06-30 | 3 | $18.1M | $19.9M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 2 | $15.4M | $17.7M |
| American Funds Global Balanced Fund | 2026-07-31 | 1 | $11.2M | $12.7M |
| T. Rowe Price International Bond Fund | 2026-06-30 | 1 | $5.3M | $6.0M |
| T. Rowe Price Global Multi-Sector Bond Fund, Inc. | 2026-05-31 | 1 | $5.1M | $5.9M |
| Fidelity International Bond Index Fund | 2026-06-30 | 1 | $1.2M | $1.2M |
| AST PGIM Aggressive Multi-Asset Portfolio | 2026-06-30 | 1 | $705K | $845K |
| State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF | 2026-06-30 | 3 | $588K | $660K |
| Six Circles Global Bond Fund | 2026-06-30 | 2 | $490K | $553K |
| AST Balanced Asset Allocation Portfolio | 2026-06-30 | 1 | $255K | $306K |
| American Funds Global Balanced Fund | 2026-06-30 | 1 | $160K | $183K |
| AST Aggressive Asset Allocation Portfolio | 2026-06-30 | 1 | $150K | $180K |
| AST Preservation Asset Allocation Portfolio | 2026-06-30 | 1 | $140K | $168K |
| Neuberger Strategic Income Fund | 2026-07-31 | 1 | $3K | $3K |
ETFs holding Estonia's bonds
From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.
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.