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Emerging Markets Bond Fund

Emerging Markets Bond Fund - Institutional Plus USD Acc (VEMBIPU)

Available in other share classes
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About this fund

Fund objectives

  • The Fund seeks to provide total return while generating a moderate level of income by investing primarily in bonds of issuers in emerging market countries.
  • The Fund employs an “active management” strategy, and while the Fund will invest in components of the J.P. Morgan EMBI Global Diversified Index (the “Index”), its investment manager will follow distinct approaches in managing the Fund’s assets.
  • The Fund invests in fixed income securities of various maturities, yields, and qualities. Under normal circumstances, the Fund will invest at least 80% of its assets in fixed income securities of issuers that are tied economically to emerging market countries. The Fund seeks to have a majority of its assets denominated in or hedged back to the U.S. dollar but has the ability to invest in bonds denominated in a local currency on an unhedged basis. Emerging market bonds include sovereign debt securities, which include fixed income securities that are issued or guaranteed by foreign governments or their agencies, authorities, political subdivisions or instrumentalities, or other supranational agencies, as well as debt securities issued or guaranteed by foreign corporations and foreign financial institutions.
  • The Investment Manager may in its discretion restrict the extent to which the Fund’s holdings deviate from the Index constituents on a security selection and fixed income sector basis. The Fund may take active fixed income sector views with the focus on bond specific selection. The extent to which the Fund can outperform the Index may be restricted by constraints applied by the Investment Manager which limit the potential volatility of the difference between the return of the Fund and the return of the Index. Such constraints may change or be removed from time to time at the Investment Manager’s discretion and depending on market environments.

Fund facts

Share class inception
03 Dec 2019
Minimum initial investment
US$200,000,000.00
Investment structure
Irish UCITS
Share Class Assets'
Total Assets
Risk indicator
Strategy
Active
Asset Class
Bond
Domicile
Ireland
Tax status
Austria, Italy, Switzerland and United Kingdom reporting
Dividend schedule
—
Currency
USD
Index ticker
JPGCCOMP
Benchmark
J.P. Morgan EMBI Global Diversified Index
Investment manager

Vanguard Global Advisers, LLC
Global Fixed Income Team

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Performance

Risk and Volatility

As at 31 Jul 2026

Beta
R²
Annualized Tracking Error
1 year
3 years
5 years

Please note Beta and R-squared data will only display for funds with 3 full years of history.

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Portfolio data

Characteristics
FundamentalsFundBenchmarkAs at
Number of bonds 272 968 31 Jul 2026
6.4% 6.4% 31 Jul 2026
5.5% 5.8% 31 Jul 2026
8.8 Years 9.9 Years 31 Jul 2026
BB+ BB+ 31 Jul 2026
6.2 Years 6.1 Years 31 Jul 2026
Cash Investment 4.3% — 31 Jul 2026

The allocations are subject to circumstances such as timing differences between trade and settlement dates of underlying securities, that may result in negative weightings. The fund may also employ certain derivative instruments for cash management or risk management purposes that may also result in negative weightings. Allocations are subject to change.

Cash includes physical cash on the account, cash like instruments (such as ultra-short term treasury bonds) and derivative instruments.

Market allocation

As at 31 Jul 2026

CountryRegionFundBenchmarkVariance +/-
MexicoEmerging Markets 10.02% 5.15% 4.87%
TurkeyEmerging Markets 5.35% 4.14% 1.21%
IndonesiaEmerging Markets 5.16% 4.06% 1.10%
ArgentinaEmerging Markets 4.73% 2.77% 1.96%
Dominican RepublicEmerging Markets 4.61% 2.89% 1.72%
OtherOther 4.37% — —
United States of AmericaNorth America 4.08% — —
Saudi ArabiaEmerging Markets 3.71% 5.13% -1.42%
HungaryEmerging Markets 3.56% 2.85% 0.71%
South AfricaEmerging Markets 3.36% 2.80% 0.56%
EcuadorEmerging Markets 3.08% 1.78% 1.30%
UkraineEmerging Markets 2.94% 1.96% 0.98%
RomaniaEmerging Markets 2.66% 2.78% -0.12%
PeruEmerging Markets 2.61% 2.53% 0.08%
BahrainEmerging Markets 2.47% 2.85% -0.38%

Distribution by credit quality (% of funds)

As at 31 Jul 2026

Distribution by credit issuer (% of funds)

As at 31 Jul 2026

Distribution by credit maturity (% of funds)

As at 31 Jul 2026

Holdings details

As at 31 Aug 2026

Holding name% of market valueMarket valueFace amountCoupon/YieldMaturity date
Ukraine Government International Bond 1.81972% US$50,854,649.37 61,862,000 4.00% 01 Feb 2032
Petroleos Mexicanos 1.73123% US$48,381,661.21 45,181,572 8.75% 02 Jun 2029
Indonesia Government International Bond 1.71509% US$47,930,503.95 43,170,000 3.75% 16 Oct 2033
Panama Government International Bond 1.63875% US$45,797,246.63 55,213,000 2.25% 29 Sept 2032
United States Treasury Note/Bond 1.59146% US$44,475,691.82 52,013,600 1.38% 15 Nov 2031
Argentine Republic Government International Bond 1.58360% US$44,256,055.55 51,148,316.81 0.75% 09 Jul 2030
Turkiye Government International Bond 1.52449% US$42,603,984.43 44,060,000 6.30% 14 Mar 2033
Argentine Republic Government International Bond 1.42301% US$39,768,138.75 50,130,818 5.00% 09 Jan 2038
Republic of Kenya Government International Bond 1.40132% US$39,161,729.11 39,500,000 7.88% 26 Feb 2034
Turkiye Government International Bond 1.36892% US$38,256,295.65 38,603,000 6.38% 22 May 2031

Total allocation percentages shown in the holdings details or the spreadsheet may not equal 100%, due to rounding or omission of cash and/or derivative instruments.

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Some short-term fixed income securities are classified as cash and are excluded, along with derivatives, from the weighted bond exposures. 

Prices and distribution

Prices

NAV Price (USD)
US$147.39
USD
Change
-US$0.40-0.27%
At closure 15 Sept 2026
NAV 52-week high
US$151.06
At closure 16 Sept 2026
NAV 52-week low
US$139.78
At closure 16 Sept 2026
NAV 52-week difference
US$11.28
Change
+7.47%
At closure 16 Sept 2026
Historical Prices

-

Inception date

03 Dec 2019

Date NAV (USD)
15 Sept 2026 US$147.3877
14 Sept 2026 US$147.7850
11 Sept 2026 US$148.2110
10 Sept 2026 US$148.4115
09 Sept 2026 US$149.9847
08 Sept 2026 US$150.3106
07 Sept 2026 US$149.7867
04 Sept 2026 US$149.7192
03 Sept 2026 US$149.6018
02 Sept 2026 US$149.2854

Distribution history

Distribution frequency

—

Historical performance

—

All dividends are reinvested for the "Accumulation" shares.

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Purchase information

Currency

Base currency:USD

Fund codes

  • Bloomberg:VEMBIPU
  • Citi:QPJZ
  • ISIN:IE00BKLWXN81
  • MEX ID:VIAAJB
  • SEDOL:BKLWXN8

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

SEDOL and SEDOL Masterfile® are registered trademarks of the London Stock Exchange Group PLC. SEDOL data was extracted from the London Stock Exchange SEDOL Masterfile®.