If you're evaluating mutual funds for your investment portfolio or retirement account, this list highlights the best international bond funds to consider now, based on each fund outperforming the Bloomberg Global Aggregate Bond Index over the last one-, three-, five- and 10-year periods. This signifies outperformance in both the short term and long haul.
Shaded cells in the table below indicate the five best bond funds based on 10-year performance.
Of 90 international bond funds at least 10 years old, 55 of them, or 61%, won IBD Best Mutual Funds 2024 awards.
An international bond is an investment in debt that is issued by foreign entities. A U.S.-based international bond fund might invest in government and corporate bonds issued in foreign countries.
For more details, read about how the best mutual funds deliver benchmark-beating returns, and see the full 2024 list of IBD's Best Mutual Funds in every category, including bond funds, diversified stock funds, blend and index funds, and breakouts of large-cap, midcap and small-cap funds.
All returns are as of Dec. 31, 2023.
Best International Bond Funds
| Fund | Symbol | 1-year total return | 3-year average annual return | 5-year average annual return | 10-year average annual return | Morningstar category | Annual report net expense ratio |
|---|---|---|---|---|---|---|---|
| Benchmark:Bloomberg Global Aggregate TR USD | 5.72% | -5.51% | -0.32% | 0.38% | |||
| Eaton Vance Emerging Markets Dbt Opps R6 | EELDX | 11.46 | 2.03 | 6.19 | 4.57 | US Fund Emerging Markets Bond | 0.77% |
| GMO Emerging Country Debt III | GMCDX | 17.64 | -0.95 | 3.55 | 4.28 | US Fund Emerging Markets Bond | 0.54 |
| Voya VACS Series EMCD | IMCDX | 10.06 | -1.05 | 3.58 | 4.12 | US Fund Emerging Markets Bond | 0.1 |
| Franklin Emerging Market Debt Opps | FEMDX | 15.47 | 2.25 | 4.08 | 3.9 | US Fund Emerging Markets Bond | 1 |
| Virtus Stone Harbor Emerging Mkts Bond I | SHCDX | 9.71 | -0.44 | 3.91 | 3.83 | US Fund Emerging Markets Bond | 1 |
| Lord Abbett Emerging Markets Corp Dbt I | LCDIX | 7.09 | -1.64 | 2.76 | 3.67 | US Fund Emerging Markets Bond | 0.85 |
| Payden Emerging Markets Corp Bd SI | PYCIX | 7.6 | -1.16 | 3.23 | 3.53 | US Fund Emerging Markets Bond | 0.55 |
| PIMCO International Bond (USD-Hdg) Instl | PFORX | 9.49 | -0.99 | 2.04 | 3.45 | US Fund Global Bond-USD Hedged | 0.63 |
| Delaware Emerging Markets Debt Corp A | DEDAX | 8.45 | -0.98 | 3.53 | 3.38 | US Fund Emerging Markets Bond | 1.04 |
| JHancock Emerging Markets Debt I | JMKIX | 11.78 | -2.36 | 2.36 | 3.17 | US Fund Emerging Markets Bond | 0.89 |
| T. Rowe Price Emerging Mkts Corp Bd | TRECX | 7.41 | -2.53 | 2.26 | 3.17 | US Fund Emerging Markets Bond | 0.88 |
| DoubleLine Emerging Markets Fixed Inc I | DBLEX | 9.63 | -1.81 | 2.1 | 3.12 | US Fund Emerging Markets Bond | 0.9 |
| Payden Emerging Markets Bond | PYEMX | 12.34 | -3.24 | 2.28 | 3.1 | US Fund Emerging Markets Bond | 0.73 |
| T. Rowe Price Instl Emerging Mkts Bond | TREBX | 12.73 | -3.02 | 1.53 | 3.09 | US Fund Emerging Markets Bond | 0.7 |
| PIMCO Emerging Markets Bond Instl | PEBIX | 12.09 | -2.79 | 2.37 | 3 | US Fund Emerging Markets Bond | 0.93 |
| Fidelity New Markets Income | FNMIX | 13.98 | -1.67 | 1.98 | 3 | US Fund Emerging Markets Bond | 0.82 |
| MFS Emerging Markets Debt I | MEDIX | 10.48 | -2.83 | 2.49 | 2.98 | US Fund Emerging Markets Bond | 0.81 |
| Transamerica Emerging Markets Debt I | EMTIX | 13.05 | -2.02 | 2.72 | 2.94 | US Fund Emerging Markets Bond | 0.9 |
| Virtus Stone Harbor Emerg Mkts Dbt Inc I | SHMDX | 14.82 | -3.5 | 2.08 | 2.79 | US Fund Emerging Markets Bond | 0.73 |
| Goldman Sachs Emerging Markets Dbt Instl | GSDIX | 13.13 | -4.28 | 1.43 | 2.56 | US Fund Emerging Markets Bond | 0.86 |
| T. Rowe Price Emerging Markets Bond | PREMX | 13.26 | -2.97 | 1.24 | 2.5 | US Fund Emerging Markets Bond | 0.99 |
| Morgan Stanley Pathway Intl F/I | TIFUX | 8.35 | -2.98 | 0.78 | 2.4 | US Fund Global Bond-USD Hedged | 0.9 |
| TCW Emerging Markets Income I | TGEIX | 12.09 | -4.26 | 1.33 | 2.29 | US Fund Emerging Markets Bond | 0.82 |
| Columbia Emerging Markets Bond A | REBAX | 10.19 | -3.45 | 1.58 | 2.25 | US Fund Emerging Markets Bond | 1.14 |
| Delaware Ivy Global Bond Fund Class I | IVSIX | 7.08 | -1.08 | 2.48 | 2.16 | US Fund Global Bond | 0.72 |
| PIMCO Emerging Markets Corp Bd Instl | PEMIX | 6.82 | -2.75 | 1.7 | 2.16 | US Fund Emerging Markets Bond | 0.91 |
| RBC BlueBay Emerging Market Debt I | RBESX | 15.62 | -1.6 | 3.3 | 2.15 | US Fund Emerging Markets Bond | 0.79 |
| VanEck Emerging Markets Bond Fund I | EMBUX | 10.97 | -0.49 | 4.46 | 2.1 | US Fund Emerging Markets Bond | 0.97 |
| SEI International Fixed Income F (SIT) | SEFIX | 7.13 | -1.65 | 0.86 | 2.06 | US Fund Global Bond-USD Hedged | 1.02 |
| JHancock Opportunistic Fixed Inc 1 | JIGDX | 8.15 | -1.82 | 2.44 | 2.05 | US Fund Global Bond | 0.85 |
| JPMorgan Emerging Markets Debt I | JEMDX | 10.17 | -4.61 | 0.82 | 1.96 | US Fund Emerging Markets Bond | 0.83 |
| MainStay Candriam Emerging Mkts Dbt A | MGHAX | 13.11 | -3.73 | 1.19 | 1.96 | US Fund Emerging Markets Bond | 1.15 |
| SEI Emerging Markets Debt A (SIIT) | SEDAX | 14.7 | -2.32 | 2.43 | 1.92 | US Fund Emerging Markets Bond | 0.42 |
| Hartford Schroders EmMkts Mlt-Sect Bd I | SMSNX | 12.59 | -2.18 | 1.38 | 1.92 | US Fund Emerging Markets Bond | 0.9 |
| PIMCO Global Advantage Strategy Bd Instl | PSAIX | 7.9 | -1.13 | 2.55 | 1.91 | US Fund Global Bond | 0.76 |
| Federated Hermes Emerging Market Debt A | IHIAX | 14.65 | -2.41 | 2.11 | 1.83 | US Fund Emerging Markets Bond | 1.18 |
| Eaton Vance Emerging Markets Local Inc A | EEIAX | 13.63 | -2.61 | 3.47 | 1.73 | US Fund Emerging-Markets Local-Currency Bond | 1.13 |
| Neuberger Berman Emerging Mkts Dbt I | NERIX | 12.02 | -2.95 | 1.79 | 1.71 | US Fund Emerging Markets Bond | 0.79 |
| Federated Hermes Intl Bond Strategy | FIBPX | 8.34 | -5.15 | 0.75 | 1.49 | US Fund Global Bond | 0 |
| BrandywineGLOBAL Global Opp Bond IS | GOBSX | 7.42 | -4.97 | 1.09 | 1.47 | US Fund Global Bond | 0.56 |
| PIMCO Emerg Mkts Full Spectrum Bd Instl | PFSIX | 11.67 | -2 | 2.49 | 1.43 | US Fund Emerging Markets Bond | 0.16 |
| Invesco Global Strategic Income A | OPSIX | 8.65 | -2.49 | 1.2 | 1.37 | US Fund Global Bond | 1.04 |
| BlackRock Strategic Global Bond Instl | MAWIX | 6.75 | -3.42 | 1.23 | 1.36 | US Fund Global Bond | 0.59 |
| GuideStone Funds Global Bond Investor | GGBFX | 5.77 | -3.83 | 0.71 | 1.33 | US Fund Global Bond | 0.86 |
| Invesco Emerging Markets Local Debt Y | OEMYX | 13.93 | -2.24 | 2.01 | 1.07 | US Fund Emerging-Markets Local-Currency Bond | 1.07 |
| PIMCO Emerging Mkts Lcl Ccy and Bd Instl | PELBX | 15.66 | -0.05 | 3.63 | 1.03 | US Fund Emerging-Markets Local-Currency Bond | 1.46 |
| Eaton Vance Global Sovereign Opps A | EAIIX | 8.45 | -3.2 | 1.02 | 1 | US Fund Global Bond | 1 |
| SEI Emerging Markets Debt F (SIT) | SITEX | 13.55 | -3.3 | 1.47 | 0.98 | US Fund Emerging Markets Bond | 1.3 |
| PIMCO Em Mkts Ccy and S/T Invsmt Instl | PLMIX | 9.67 | 0.95 | 2.24 | 0.96 | US Fund Emerging-Markets Local-Currency Bond | 1.02 |
| DWS Emerging Markets Fixed Income S | SCEMX | 11.12 | -4.03 | 1.18 | 0.85 | US Fund Emerging Markets Bond | 0.9 |
| Invesco International Bond A | OIBAX | 8.25 | -5.43 | 0.03 | 0.69 | US Fund Global Bond | 1.03 |
| MFS Emerging Markets Debt Lcl Ccy I | EMLIX | 13.74 | -1.64 | 2.52 | 0.68 | US Fund Emerging-Markets Local-Currency Bond | 0.86 |
| Hartford Emerging Markets Local Debt Y | HLDYX | 13.6 | -1.8 | 2.21 | 0.68 | US Fund Emerging-Markets Local-Currency Bond | n/a |
| PGIM Emerging Markets Dbt Lcl Ccy Z | EMDZX | 13.13 | -2.55 | 2.25 | 0.57 | US Fund Emerging-Markets Local-Currency Bond | 0.73 |
| TCW Global Bond I | TGGBX | 7 | -5.45 | 0.56 | 0.57 | US Fund Global Bond | n/a |
Sources: IBD, Morningstar Direct
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