These Are The Ten Bond Funds With The Largest Exposure To Russia

March 7, 2022

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By Aman Jain. Originally published at ValueWalk.

Bond Funds With The Largest Exposure To Russia Digital Finance Uncertainty Metaverse Stocks InterContinental Hotel worst performing mega cap stocks in January 2022

The Russia-Ukraine conflict could have far-reaching financial impacts, not just for Russian investors but also for investors worldwide, including in the U.S. Although most major U.S. stocks have little business exposure to Russia and Ukraine, there are a few exceptions. The same is true of fixed income instruments as well. Many bond funds have exposure to Russia, but their exposure is limited. Let’s take a look at the ten bond funds with the largest exposure to Russia.

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Top Ten Bond Funds With The Largest Exposure To Russia

We used the holdings data from Morningstar Direct to build this list of the ten bond funds with the largest exposure to Russia. We used the latest available holdings data, although it is possible that these funds have changed their holdings since Russia invaded Ukraine. Here are the ten bond funds with the largest exposure to Russia:

SEI Institutional Investments Trust Emerging Markets Debt Fund (SEDAX, 4.5%)

SEI Institutional Investments Trust Emerging Markets Debt Fund (MUTF:SEDAX) normally invests in the fixed-income securities of emerging market issuers, including government, government-related and corporate issuers. This fund has gained almost 2% in the last month and almost 5% in the last three years. Its top four holdings are: Euro Bobl Future Mar 22, Euro Bund Future Mar 22, South Africa (Republic of) 8.5% and BNTNF 10 01/01/23.

SEI Institutional International Trust Emerging Markets Debt Fund (SITEX, 4.6%)

Under normal circumstances, SEI Institutional International Trust Emerging Markets Debt Fund (MUTF:SITEX) would invest in the fixed-income securities of emerging market issuers. This fund has gained almost 2% in the last month and almost 4% in the last three years. Its top four holdings are: Euro Bobl Future Mar 22, Euro Bund Future Mar 22, South Africa (Republic of) 8.5% and Korea 3 Year Bond Future Mar 22.

Fidelity Series Emerging Markets Debt Local Currency Fund (FSEDX, 4.7%)

Fidelity® Series Emerging Markets Debt Local Currency Fund (MUTF:FSEDX) usually invests in the debt securities of issuers in emerging markets and in other debt investments economically connected to emerging markets. This fund has gained more than 1% in the last month but has lost almost 9% in the last year. Its top four holdings are: Fidelity Revere Str Tr, China (People’s Republic Of) 2.88%, Secretaria Tesouro Nacional 0%, and China (People’s Republic Of) 3.28%.

Western Asset Total Return Unconstrained Fund (WAARX, 5.6%)

Western Asset Total Return Unconstrained Fund (MUTF:WAARX) follows a flexible investment strategy, and thus, it invests in a variety of securities and instruments and deploys many investment techniques to achieve its objectives. This fund has gained almost 1% in the last month and almost 4% in the last three years. Its top four holdings are: Western Asset Prem Instl Govtt Rsrv Pref, United States Treasury Bonds 1.375%, United States Treasury Bonds 2.875% and United States Treasury Bonds 2.75%.

PIMCO Emerging Markets Full Spectrum Bond Fund (PFSIX, 5.9%)

PIMCO Emerging Markets Full Spectrum Bond Fund (MUTF:PFSIX) invests in fixed-income instruments that are economically tied to emerging market countries. This fund has gained more than 1% in the last month and over 4% in the last three years. Its top four holdings are: PIMCO Emerging Mkts Lcl Ccy and Bd Instl, PIMCO Emerging Markets Corp Bd Instl, PIMCO Emerging Markets Bond Instl and Pimco Fds.

American Century Emerging Markets Debt Fund

(AEXDX, 6.1%)

American Century Emerging Markets Debt Fund (MUTF:AEXDX) mainly invests in fixed-income instruments from issuers economically connected to emerging markets. It primarily invests in the debt instruments of foreign governments and corporations. This fund has gained more than 1% in the last month and almost 6% in the last three years. Its top four holdings are: Ultra 10 Year US Treasury Note Future Mar 22, 10 Year Treasury Note Future Mar 22, 2 Year Treasury Note Future Mar 22, and Mexico (United Mexican States) 8%.

T. Rowe Price Emerging Markets Local Currency Bond Fund (PRELX, 6.1%)

T. Rowe Price Emerging Markets Local Currency Bond Fund (MUTF:PRELX) normally invests in bonds denominated in emerging-market currencies and derivative instruments offering exposure to such securities. This fund has gained over 1% in the last month and over 2% in the last three years. Its top four holdings are: T. Rowe Price Gov. Reserve, Secretaria Tesouro Nacional 10%, Indonesia (Republic of) 6.125% and Malaysia (Government Of) 4.232%.

American Funds Emerging Markets Bond Fund (EBNAX, 6.5%)

American Funds Emerging Markets Bond Fund (MUTF:EBNAX) primarily invests in bonds and other debt securities from emerging-market issuers. This fund has gained over 1% in the last month and over 5% in the last three years. Its top four holdings are: Malaysia (Government Of) 4.893%, Ministerio de Hacienda y Credito Publico 5.75%, China Development Bank 3.48% and Secretaria Tesouro Nacional 21.989%.

PIMCO Emerging Markets Local Currency and Bond Fund (PELBX, 7.8%)

PIMCO Emerging Markets Local Currency and Bond Fund (MUTF:PELBX) invests across a broad range of global emerging markets. It mainly invests in investment-grade bonds, but most of those are at the lower end of the investment-grade scale. This fund has gained over 1% in the last month and over 3% in the last three years. Its top four holdings are: China (People’s Republic Of) 3.03%, China (People’s Republic Of) 3.28%, South Africa (Republic of) 10.5% and Deutsche Bank AG London Branch 6.68%.

Western Asset Macro Opportunities Fund (LAOSX, 8.4%)

Western Asset Macro Opportunities Fund (MUTF:LAOSX) uses an opportunistic investing strategy and invests in a variety of securities and other instruments. This fund has gained over 2% in the last month and almost 8% in the last three years. LAOSX has more than $1.6 billion in net assets. Its top four holdings are: Mexico (United Mexican States) 7.75%, United States Treasury Bonds 1.875%, United States Treasury Bonds 3% and Russian Federation 7.05%.