What Is BNDX? Vanguard Total International Bond Index Fund
Last updated July 2026
Short answer
BNDX is the Vanguard Total International Bond Index Fund, which holds investment-grade bonds from outside the US and hedges the currency risk back to the dollar at a 0.07% expense ratio. The hedging is the defining feature: it strips out foreign exchange swings so returns reflect the underlying bonds, which historically keeps BNDX less volatile than an unhedged international bond fund. It is a diversified fixed-income holding rather than an equity or single-theme bet, with a reported 4.46% yield.
BNDX is issued by Vanguard and tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). It charges a 0.07% expense ratio, holds approximately $123.29B in assets under management, yields about 4.46%, and launched in May 2013.
What is BNDX?
BNDX is the Vanguard Total International Bond Index Fund, which holds investment-grade bonds from outside the US and hedges the currency risk back to the dollar at a 0.07% expense ratio. The hedging is the defining feature: it strips out foreign exchange swings so returns reflect the underlying bonds, which historically keeps BNDX less volatile than an unhedged international bond fund. It is a diversified fixed-income holding rather than an equity or single-theme bet, with a reported 4.46% yield.
BNDX is issued by Vanguard and tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), so a single ticker gives you the whole basket of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
BNDX holdings: what's actually inside
BNDX does not hold a basket of individual stocks. It gets its exposure synthetically, through derivatives such as swaps and futures rather than by owning the underlying shares, so there is no conventional top-10 equity holdings list. See the description above for what BNDX actually tracks and how that exposure is built.
The bottom line on BNDX
BNDX adds international investment-grade bond exposure with the currency risk hedged away, which keeps its volatility closer to US bonds than an unhedged fund would. It works as a fixed-income diversifier alongside a US bond position, not as a growth or income-maximizing holding; the yield reflects prevailing global rates rather than aggressive credit risk-taking.
More on BNDX
Whether BNDX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is BNDX a buy?
BNDX yields 4.46% as of July 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see BNDX dividend: yield and schedule.
Build a portfolio around BNDX with Walnut
Use BNDX as your core holding, then let Walnut's AI propose thematic satellites: AI infrastructure, dividend growth, clean energy, whatever you believe in. Connect your broker, build the basket in conversation, track it as one unit.
FAQ
What is BNDX?
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BNDX is the Vanguard Total International Bond Index Fund, an ETF that holds thousands of investment-grade bonds issued outside the United States, both government and corporate. Its distinguishing feature is that the currency exposure is hedged back to the US dollar, so a US investor's return reflects the bonds rather than moves in foreign exchange rates. The expense ratio is 0.07%.
What is BNDX's ticker symbol?
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BNDX, listed on Nasdaq. The official name is Vanguard Total International Bond Index Fund, issued by Vanguard. It tracks a float-adjusted Bloomberg global aggregate index of non-US investment-grade bonds, hedged to the US dollar.
Why does BNDX hedge currency?
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International bonds carry two risks for a US investor: the bonds themselves and the foreign currencies they are denominated in. Currency swings can be larger than the bond returns, adding volatility that has little to do with credit or interest-rate risk. BNDX hedges the currency back to the dollar so that what you get is closer to the underlying bond performance, which has historically made it less volatile than an unhedged international bond fund.
What is BNDX's expense ratio?
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0.07% per year (7 basis points). On a $10,000 investment, that is about $7 per year in fees, deducted from the fund's net asset value. That is low for an international bond fund, reflecting Vanguard's index-tracking, low-cost approach.
What is BNDX's dividend yield?
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The fund reports a yield of 4.46% as of July 2026, paid monthly. Bond fund yield moves with prevailing interest rates and with the mix of maturities and issuers in the portfolio, so it changes over time as bonds mature and are replaced and as global rates shift.
Does BNDX hold any stocks?
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No. BNDX is a bond fund. It holds investment-grade government and corporate debt from outside the United States, so it does not have equity holdings the way a stock ETF does. That is why no top-10 stock list is shown for it.
How is BNDX different from BND?
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BND (Vanguard Total Bond Market ETF) holds US investment-grade bonds. BNDX holds investment-grade bonds from outside the US with the currency hedged to the dollar. Many investors hold both to get broad, geographically diversified bond exposure; BNDX is the international complement to a US bond core like BND.
Is BNDX a good investment?
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BNDX provides diversified, currency-hedged international bond exposure at a low cost, which some investors use to diversify a bond allocation beyond the US. Whether it fits depends on your time horizon, your existing bond holdings, and your view on global rates. Walnut is not an investment adviser and this is not a recommendation.
When was BNDX created?
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May 2013. It was launched by Vanguard as the international counterpart to its US total bond fund, giving investors a single, low-cost, currency-hedged way to own investment-grade debt from developed and emerging markets outside the US.
How do I buy BNDX?
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BNDX trades like any stock during US market hours. Buy it through any broker: Robinhood, Fidelity, Schwab, Public, M1, Vanguard, or others. Fractional shares are supported at most modern brokers. If you connect your broker to Walnut, the AI can show how a bond position like BNDX sits alongside the rest of your holdings.
Does BNDX pay dividends?
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Yes, monthly rather than quarterly, which is typical for bond funds. The reported yield is 4.46% as of July 2026. Distributions come from the interest paid by the underlying bonds and are passed through to shareholders. Most brokers support automatic reinvestment.
Is BNDX affected by interest rates?
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Yes. Like any bond fund, BNDX's price generally falls when interest rates rise and rises when rates fall, with the size of the move tied to the portfolio's duration. Because the currency is hedged, the main drivers of its return are global interest-rate moves and the credit quality of the underlying investment-grade issuers.
What is BNDX's market cap (AUM)?
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Approximately $123.29B as of July 2026, making it one of the largest international bond funds available. Its scale reflects broad use as the international bond sleeve in diversified, index-based portfolios.
How do I compare BNDX to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. BNDX's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to July 2026; verify current figures against Vanguard's fund page or your broker before investing.