Other
Non-US Bonds
Hedging Foreign Currency Exposure Lessens Diversification of Non-US Bonds
We believe foreign bond exposure does not add diversification value. When hedged back to US dollars, non-US bonds have historically been highly correlated to the Barclays US Aggregate Bond Index. Therefore, inclusion in the Agg arguably delivers domestic and foreign coverage.
- Barclays Global Aggregate ex-US Index
- Barclays US Aggregate Bond Index
