VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND
VANGUARD WHITEHALL FUNDS · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND is an emerging-markets bond index ETF that tracks the Bloomberg USD Emerging Markets Government RIC Capped Index.
- Asset class
- Bonds
- Region
- Emerging markets
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Features
- Non-diversified
Fund profile
As filed in the prospectus · 2026 Q1
Vanguard Emerging Markets Government Bond Index Fund (the Fund) seeks to track the performance of a benchmark index that measures the investment return of U.S. dollar-denominated bonds issued by governments and government-related issuers in emerging market countries.
The fund tracks the Bloomberg USD Emerging Markets Government RIC Capped Index through sampling, holding a range of securities that approximate the index's key risk factors and maturity profile rather than all constituents. Because the fund samples the index, its returns may diverge from the index. The fund is nondiversified, meaning it may invest a greater percentage of its assets in securities of particular issuers than diversified funds do.
| Share class | Expense ratio |
|---|---|
| VGAVX | 0.20% |
| VWOB | 0.15% |
| VGIVX | 0.08% |
Portfolio turnover 27.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 97.95% |
| Cash & short-term | 0.51% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Brazilian Government International Bond, United States Treasury Note/Bond, Saudi Government International Bond, Suci Second Investment Co, Abu Dhabi Government International Bond, Angolan Government International Bond, Romanian Government International Bond, Dominican Republic International Bond
Largest exited: KSA Sukuk Ltd, Kuwait International Government Bond, Turkiye Government International Bond, Hazine Mustesarligi Varlik Kiralama AS, Mexico Government International Bond, Perusahaan Penerbit SBSN Indonesia III, Panama Government International Bond, Oman Government International Bond
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +11.26% | +29.35% | +11.85% | 5.47% | -6.04% | |
| +11.32% | +29.45% | +11.93% | 5.42% | -6.07% | |
| +11.36% | +29.52% | +12.03% | 5.44% | -6.09% |
These classes hold the same portfolio, so the 0.18pp spread over 5 years is the cost difference between them — roughly 0.04pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 93.5% |
| Floating rate | 6.4% |
| Zero-coupon or unclassified | 0.1% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 13.2% |
| 3-5y | 17.8% |
| 5-10y | 31.9% |
| 10y+ | 37.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 50% |
| Interest rates | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.48 yr |
| High yield | +2.22 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.52 yr | 8% |
| 5 yr | 1.83 yr | 28% |
| 10 yr | 2.80 yr | 42% |
| 30 yr | 1.47 yr | 22% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.52 yr | 8% |
| 5 yr | 1.84 yr | 27% |
| 10 yr | 2.83 yr | 42% |
| 30 yr | 1.50 yr | 22% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.01 | +0.01 | $4.3k | $4.1k |
| 1 yr | +0.52 | +0.31 | +0.21 | $197.8k | $136.0k |
| 5 yr | +1.83 | +1.09 | +0.75 | $703.6k | $485.7k |
| 10 yr | +2.80 | +1.90 | +0.93 | $1.23m | $604.2k |
| 30 yr | +1.47 | +1.18 | +0.32 | $765.9k | $205.8k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Argentine Republic Government International Bond4.13% floating · due 2035-07-09 | 1.15% | $74.15M | — |
| — | Argentine Republic Government International Bond0.75% floating · due 2030-07-09 | 0.75% | $48.84M | — |
| — | Argentine Republic Government International Bond5.00% floating · due 2038-01-09 | 0.66% | $42.98M | — |
| — | Petroleos Mexicanos7.69% · due 2050-01-23 | 0.56% | $36.00M | — |
| — | Argentine Republic Government International Bond3.50% floating · due 2041-07-09 | 0.54% | $35.01M | — |
| — | Petroleos Mexicanos6.70% · due 2032-02-16 | 0.52% | $33.47M | — |
| — | Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 0.51% | $33.04M | — |
| — | Eagle Funding Luxco Sarl5.50% · due 2030-08-17 | 0.49% | $31.66M | — |
| — | Eagle Funding Luxco Sarl5.50% · due 2030-08-17 | 0.42% | $27.29M | — |
| — | Ecuador Government International Bond6.90% floating · due 2035-07-31 | 0.41% | $26.47M | — |
Top 10 positions are 6.00% of net assets, top 25 11.15%, across 123 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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