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Bonds · Sovereign

Netherlands government bonds

Netherlands'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
EUR Euro members, euro bonds (vs German Bunds) vs German Bunds24 6 bp 7 bp0.5% -1 bp3.21% $3.73B

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.

2 bp16 bp30 bpJan 2021Jul 20262021-01-31: 8 bp2021-02-28: 6 bp2021-03-31: 9 bp2021-04-30: 8 bp2021-05-31: 2 bp2021-06-30: 8 bp2021-07-31: 10 bp2021-08-31: 5 bp2021-09-30: 9 bp2021-10-31: 13 bp2021-11-30: 6 bp2021-12-31: 12 bp2022-01-31: 14 bp2022-02-28: 12 bp2022-03-31: 14 bp2022-04-30: 18 bp2022-05-31: 14 bp2022-06-30: 24 bp2022-07-31: 22 bp2022-08-31: 26 bp2022-09-30: 26 bp2022-10-31: 30 bp2022-11-30: 16 bp2022-12-31: 21 bp2023-01-31: 22 bp2023-02-28: 21 bp2023-03-31: 27 bp2023-04-30: 27 bp2023-05-31: 22 bp2023-06-30: 23 bp2023-07-31: 28 bp2023-08-31: 22 bp2023-09-30: 28 bp2023-10-31: 27 bp2023-11-30: 17 bp2023-12-31: 24 bp2024-01-31: 23 bp2024-02-29: 21 bp2024-03-31: 22 bp2024-04-30: 20 bp2024-05-31: 14 bp2024-06-30: 27 bp2024-07-31: 24 bp2024-08-31: 23 bp2024-09-30: 24 bp2024-10-31: 20 bp2024-11-30: 18 bp2024-12-31: 17 bp2025-01-31: 17 bp2025-02-28: 16 bp2025-03-31: 15 bp2025-04-30: 17 bp2025-05-31: 14 bp2025-06-30: 14 bp2025-07-31: 14 bp2025-08-31: 17 bp2025-09-30: 13 bp2025-10-31: 12 bp2025-11-30: 14 bp2025-12-31: 17 bp2026-01-31: 9 bp2026-02-28: 9 bp2026-03-31: 10 bp2026-04-30: 7 bp2026-05-31: 7 bp2026-06-30: 8 bp2026-07-31: 6 bp

Netherlands's AUD curve

Yield to maturity of each AUD bond US funds hold (6 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

4.94%4.98%5.02%0y2y4yNederlandse Waterschapsbank NV 3.5 2027-07-20: 4.94%BNG BANK NV 3.3 2028-07-17: 4.94%Nederlandse Waterschapsbank NV 3.45 2028-07-17: 4.94%BNG BANK NV 3.3 2029-04-26: 4.98%BNG BANK NV 1.6 2030-11-27: 5.02%

Netherlands's EUR curve

Yield to maturity of each EUR bond US funds hold (69 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

2.79%3.41%4.02%0y15y29yNEDER WATERSCHAPSBANK 2.5 2027-09-13: 2.85%NEDER FINANCIERINGS-MAAT 3.0 2027-10-25: 2.93%NEDER WATERSCHAPSBANK 2.75 2027-11-09: 2.89%BNG Bank NV 0.75 2028-01-11: 2.92%Netherlands Government Bonds 5.5 2028-01-15: 2.80%Nederlandse Waterschapsbank NV 1.0 2028-03-01: 2.91%Netherlands Government Bond 0.75 2028-07-15: 2.79%NEDER WATERSCHAPSBANK 2.125 2028-10-30: 3.02%BNG Bank NV 0.75 2029-01-24: 3.03%NEDER WATERSCHAPSBANK 0.63 2029-02-06: 3.04%NETHERLANDS GOVERNMENT 0.25 2029-07-15: 2.86%NEDER WATERSCHAPSBANK 2.75 2029-12-17: 3.07%BNG Bank NV 0.1 2030-01-15: 3.08%Netherlands Government Bonds 2.5 2030-01-15: 2.91%BNG BANK NV 3.0 2030-04-23: 3.09%Nederlandse Waterschapsbank NV 0.5 2030-04-29: 3.13%BNG BANK NV 2.5 2030-05-21: 3.11%NEDER WATERSCHAPSBANK 2.5 2030-05-22: 3.16%BNG Bank NV 1.375 2030-10-21: 3.16%Netherlands Government Bonds 2.5 2031-01-15: 2.98%BNG Bank NV 0.0 2031-01-20: 3.19%BNG BANK 2.875% 06/11/31/EUR/ 2.875 2031-06-11: 3.20%Nederlandse Waterschapsbank NV 0.0 2031-09-08: 3.22%Nederlandse Waterschapsbank NV 3.0 2031-09-11: 3.22%BNG Bank NV 0.25 2032-01-12: 3.24%Nederlandse Waterschapsbank NV 0.25 2032-01-19: 3.25%NEDER WATERSCHAPSBANK 1.25 2032-06-07: 3.27%BNG Bank NV 1.875 2032-07-13: 3.29%NETHERLANDS GOVERNMENT 0.5 2032-07-15: 3.06%NEDER WATERSCHAPSBANK 2.75 2032-09-24: 3.28%BNG Bank NV 3.0 2033-01-11: 3.32%NETHERLANDS GOVERNMENT 2.5 2033-01-15: 3.07%BNG Bank NV 0.125 2033-04-19: 3.32%NEDER WATERSCHAPSBANK 3.0 2033-06-03: 3.32%Netherlands Government Bonds 2.5 2033-07-15: 3.12%BNG BANK NV 3.25 2033-08-29: 3.34%NEDER WAT 2.625% 01/10/34/EUR/ 2.625 2034-01-10: 3.36%BNG Bank NV 2.75 2034-01-11: 3.37%Netherlands Government Bonds 2.5 2034-07-15: 3.18%BNG Bank NV 2.75 2034-08-28: 3.43%BNG Bank NV 2.875 2035-02-26: 3.47%BNG Bank NV 0.125 2035-07-09: 3.50%Netherlands Government Bonds 2.5 2035-07-15: 3.24%NEDER WATERSCHAPSBANK 0.125 2035-09-03: 3.48%BNG Bank NV 0.875 2035-10-17: 3.48%BNG Bank NV 3.25 2036-04-10: 3.49%Nederlandse Waterschapsbank NV 1.25 2036-05-27: 3.54%Netherlands Government Bonds 2.75 2036-07-15: 3.30%BNG Bank NV 0.875 2036-10-24: 3.57%BNG Bank NV 0.25 2036-11-22: 3.57%NETHERLANDS GOVERNMENT 4.0 2037-01-15: 3.34%Nederlandse Waterschapsbank NV 0.0 2037-02-16: 3.60%BNG Bank NV 1.25 2037-03-30: 3.60%BNG Bank NV 1.5 2038-03-29: 3.68%NEDER WATERSCHAPSBANK 1.5 2038-04-27: 3.68%Nederlandse Waterschapsbank NV 1.5 2038-04-27: 3.67%Nederlandse Waterschapsbank NV 1.5 2039-06-15: 3.78%BNG Bank NV 1.5 2039-07-15: 3.78%NETHERLANDS GOVERNMENT 0.5 2040-01-15: 3.53%Nederlandse Waterschapsbank NV 0.75 2041-10-04: 3.90%NETHERLANDS GOVERNMENT 3.75 2042-01-15: 3.58%Netherlands Government Bond 3.25 2044-01-15: 3.64%NEDER WATERSCHAPSBANK 0.38 2046-09-28: 4.02%NETHERLANDS GOVERNMENT 2.75 2047-01-15: 3.69%Netherlands Government Bonds 2.0 2054-01-15: 3.72%Netherlands Government Bonds 3.5 2056-01-15: 3.72%

Netherlands's GBP curve

Yield to maturity of each GBP bond US funds hold (7 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

4.53%4.66%4.78%0y2y5yBNG BANK NV 4.5 2028-01-31: 4.54%NEDER WATERSCHAPSBANK 4.75 2028-01-31: 4.53%BNG Bank NV 5.2 2028-12-07: 4.65%NEDER WATERSCHAPSBANK 3.88 2029-01-31: 4.61%BNG BANK NV 4.25 2029-02-15: 4.62%BNG BANK NV 4.63 2031-07-31: 4.78%

Netherlands's USD curve

Yield to maturity of each USD bond US funds hold (16 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

4.32%4.56%4.79%0y4y9yBNG BANK NV 4.375 2028-02-11: 4.32%BNG BANK NV 4.38 2028-02-11: 4.35%NEDER FINANCIERINGS-MAAT 4.5 2028-04-26: 4.42%BNG BANK NV 3.5 2028-05-19: 4.33%NEDER WATERSCHAPSBANK 4.0 2028-06-01: 4.38%NEDER WATERSCHAPSBANK 4.0 2028-06-01: 4.37%Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV 4.75 2028-11-15: 4.41%BNG BANK NV 4.25 2029-01-25: 4.40%Nederlandse Waterschapsbank NV 4.375 2029-02-28: 4.42%Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV 4.5 2029-06-12: 4.48%Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV 3.75 2029-10-10: 4.47%Nederlandse Waterschapsbank NV 4.5 2030-01-16: 4.47%BNG BANK NV 4.75 2030-02-01: 4.45%NEDER WATERSCHAPSBANK 1.0 2030-05-28: 4.47%BNG Bank NV 4.625 2035-06-04: 4.79%

Who holds Netherlands's debt

Fund series holding Netherlands's government and government-related bonds in their latest quarterly report: 92 now, 88 a quarter earlier. Names as reported in the filings.

Fund seriesReportBondsFace valueValue
VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND2026-07-31 59$2.42B$2.40B
VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND2026-07-31 59$2.01B$1.99B
Fidelity Series International Developed Markets Bond Index Fund2026-06-30 23$781.8M$817.4M
DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO2026-07-31 7$483.2M$546.7M
Six Circles Global Bond Fund2026-06-30 63$155.5M$163.5M
DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO2026-07-31 7$125.9M$137.7M
Fidelity Advisor Strategic Income Fund2026-06-30 2$120.3M$135.3M
iShares Core International Aggregate Bond ETF2026-07-31 74$126.4M$127.1M
DFA ONE-YEAR FIXED INCOME PORTFOLIO2026-07-31 3$71.4M$71.4M
iShares International Treasury Bond ETF2026-07-31 24$67.3M$69.0M
Nuveen Core Impact Bond Fund2026-06-30 5$42.4M$42.2M
State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF2026-06-30 24$39.9M$41.7M
Nuveen International Aggregate Bond ETF2026-06-30 28$40.6M$41.7M
College Retirement Equities Fund - Responsible Balanced Account2026-06-30 6$42.8M$41.4M
iShares Floating Rate Bond ETF2026-07-31 3$39.5M$39.6M
Dimensional Short-Duration Fixed Income ETF2026-07-31 6$47.0M$39.3M
iShares 1-3 Year International Treasury Bond ETF2026-07-31 4$33.4M$37.3M
DFA Short-Term Extended Quality Portfolio2026-07-31 2$34.0M$33.9M
PIMCO Short-Term Floating NAV Portfolio III2026-06-30 1$27.9M$27.9M
iShares Global Government Bond USD Hedged Active ETF2026-07-31 14$26.2M$27.0M

ETFs holding Netherlands'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
BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND 2026-07-3159$1.99B 1.63%
IAGG iShares Core International Aggregate Bond ETF 2026-07-3174$127.1M 1.13%
IGOV iShares International Treasury Bond ETF 2026-07-3124$69.0M 4.51%
BWX State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF 2026-06-3024$41.7M 3.10%
NXUS Nuveen International Aggregate Bond ETF 2026-06-3028$41.7M 1.08%
FLOT iShares Floating Rate Bond ETF 2026-07-313$39.6M 0.38%
DFSD Dimensional Short-Duration Fixed Income ETF 2026-07-316$39.3M 0.55%
ISHG iShares 1-3 Year International Treasury Bond ETF 2026-07-314$37.3M 4.52%
IUSB iShares Core Universal USD Bond ETF 2026-07-3113$14.8M 0.03%
DFSB Dimensional Global Sustainability Fixed Income ETF 2026-07-317$10.2M 1.41%
BWZ State Street(R) SPDR(R) Bloomberg Short Term International Treasury Bond ETF 2026-06-304$9.3M 3.18%
FLRN State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF 2026-06-301$7.1M 0.24%
ISTB iShares Core 1-5 Year USD Bond ETF 2026-07-319$4.1M 0.08%
DFGP Dimensional Global Core Plus Fixed Income ETF 2026-07-314$2.5M 0.07%
DFGX Dimensional International Core Fixed Income ETF 2026-07-313$2.1M 0.12%

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