Zambia government bonds
Zambia'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 |
|---|---|---|---|---|---|---|---|---|
| ZMW Other foreign-currency bonds | own currency: yield only, no default number | 47 | — | — | — | — | 15.91% | $323.3M |
| USD Emerging markets, US-dollar bonds | vs US Treasuries | 3 | n/a | — | — | — | — | $68.5M |
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.
Zambia's ZMW curve
Yield to maturity of each ZMW bond US funds hold (45 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Zambia's debt
Fund series holding Zambia's government and government-related bonds in their latest quarterly report: 109 now, 134 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| Global Macro Absolute Return Advantage Portfolio | 2026-07-31 | 28 | $2.61B | $143.1M |
| Eaton Vance Emerging Markets Debt Opportunities Fund | 2026-07-31 | 26 | $1.33B | $73.1M |
| American Beacon Developing World Income Fund | 2026-07-31 | 22 | $697.9M | $45.5M |
| Global Macro Portfolio | 2026-07-31 | 27 | $671.2M | $36.8M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | 1 | $34.9M | $34.5M |
| Artisan Global Unconstrained Fund | 2026-06-30 | 6 | $217.2M | $33.8M |
| VANGUARD EMERGING MARKETS BOND FUND | 2026-06-30 | 1 | $29.6M | $29.2M |
| Emerging Markets Local Income Portfolio | 2026-07-31 | 26 | $397.7M | $21.9M |
| Templeton Emerging Markets Income Fund | 2026-06-30 | 1 | $182.0M | $10.3M |
| MFS Emerging Markets Debt Fund | 2026-07-31 | 1 | $9.0M | $8.8M |
| Finisterre Emerging Markets Total Return Bond Fund | 2026-07-31 | 1 | $8.8M | $8.6M |
| Strategic Advisers Fidelity Core Income Fund | 2026-05-31 | 2 | $9.8M | $8.4M |
| VANGUARD STAR CORE-PLUS BOND FUND | 2026-07-31 | 1 | $8.5M | $8.4M |
| JPMorgan Income Fund | 2026-05-31 | 3 | $8.1M | $6.8M |
| Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. | 2026-07-31 | 25 | $119.0M | $6.6M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND | 2026-07-31 | 1 | $6.2M | $6.1M |
| VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 1 | $6.1M | $6.0M |
| Fidelity New Markets Income Fund | 2026-06-30 | 1 | $5.9M | $5.9M |
| T. Rowe Price Dynamic Global Bond Fund | 2026-06-30 | 2 | $95.5M | $5.6M |
| GMO Emerging Country Debt Fund | 2026-05-31 | 1 | $4.1M | $4.1M |
ETFs holding Zambia'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 |
|---|---|---|---|---|
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 1 | $6.0M | 0.09% |
| JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 1 | $3.8M | 0.88% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 2 | $2.5M | 0.03% |
| EMBX VanEck Emerging Markets Bond ETF | 2026-06-30 | 1 | $2.1M | 0.85% |
| VPLS VANGUARD CORE-PLUS BOND ETF | 2026-06-30 | 1 | $1.4M | 0.08% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 2 | $1.4M | 0.01% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $1.2M | 0.00% |
| EMBD Global X Emerging Markets Bond ETF | 2026-05-31 | 1 | $793K | 0.31% |
| JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 2026-05-31 | 2 | $390K | 0.61% |
| EMHC State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF | 2026-06-30 | 1 | $212K | 0.08% |
| ILTB iShares Core 10+ Year USD Bond ETF | 2026-05-31 | 1 | $159K | 0.03% |
| VGMS VANGUARD MULTI-SECTOR INCOME BOND ETF | 2026-06-30 | 1 | $154K | 0.07% |
| NFLT Virtus Newfleet Multi-Sector Bond ETF | 2026-07-31 | 1 | $139K | 0.03% |
| GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 2026-05-31 | 2 | $117K | 0.34% |
| VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 2026-07-31 | 1 | $92K | 0.18% |
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.