Investment objective & strategy
As of Feb. 27, 2026 · prospectusObjective. 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.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the Bloomberg USD Emerging Markets Government RIC Capped Index (the Target Index), which includes U.S. dollar-denominated bonds issued by emerging market governments and government-related issuers with maturities longer than one year. Bonds rated investment-grade or high-yield as determined by the Index Provider (or unrated bonds with an implied rating as determined by the Index Provider) are eligible for inclusion in the Target Index. The Target Index is capped to comply with investment company standards of the Internal Revenue Code. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the bonds that make up … The Fund employs an indexing investment approach designed to track the performance of the Bloomberg USD Emerging Markets Government RIC Capped Index (the Target Index), which includes U.S. dollar-denominated bonds issued by emerging market governments and government-related issuers with maturities longer than one year. Bonds rated investment-grade or high-yield as determined by the Index Provider (or unrated bonds with an implied rating as determined by the Index Provider) are eligible for inclusion in the Target Index. The Target Index is capped to comply with investment company standards of the Internal Revenue Code. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the bonds that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics. The Fund maintains a dollar-weighted average maturity consistent with that of the Target Index. As of October 31, 2025, the dollar-weighted average maturity of the Target Index was 11.5 years. The Fund is considered nondiversified, as defined under the Investment Company Act of 1940, which means that it may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ARGENTINA | — | $76.47M | 1.20% |
| Vanguard Market Liquidity Fund | — | $69.18M | 1.09% |
| REPUBLIC OF ARGENTINA SR UNSECURED 07/30 VAR | ARGENT | $47.44M | 0.75% |
| ARGENTINA | — | $44.50M | 0.70% |
| ARGENTINA | — | $36.81M | 0.58% |
| Eagle Funding LuxCo S.a.r.l. | — | $36.35M | 0.57% |
| Petroleos Mexicanos | — | $35.03M | 0.55% |
| PETROLEOS MEXICANOS SR UNSEC SF 6.7% 02-16-32 | PEMEX | $32.57M | 0.51% |
| State of Qatar | — | $26.63M | 0.42% |
| STATE OF QATAR 4.817000% 03/14/2049 | — | $26.44M | 0.42% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| iShares J.P. Morgan USD Emerging Markets Bond ETF · EMB | 62% | 0.39% |
| State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF · EMHC | 51% | 0.23% |
| iShares J.P. Morgan EM High Yield Bond ETF · EMHY | 33% | 0.50% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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