Analyse: iShares J.P. Morgan $ Emerging Markets Bond Fund

Dieser ETF bietet Zugang zu Schwellenländer-Bonds. Vor allem das Durationsrisiko ist jedoch hoch.

Jose Garcia-Zarate 13.02.2013

Rolle im Portfolio

The iShares JP Morgan Emerging Markets Bond ETF offers investors exposure to one of the fastest-growing investment areas of the last two decades, namely that of emerging market (EM) government bonds. This ETF offers exposure to the USD-denominated segment of the EM sovereign debt market. Historically, EM government debt has been issued in USD or other developed nation currencies to make it more palatable to global investors. Despite the recent growth in issuance of local currency EM bonds, USD-denominated EM bonds retain the lion’s share of the EM sovereign debt landscape.

The search for higher yield and capital gains vis-à-vis developed bond markets remains the key selling point of emerging market government debt. Notwithstanding shifting perceptions about country risk borne out of the global financial crisis, financial vehicles offering exposure to emerging market debt are still likely to be rolled out as satellite components of an investment portfolio; a yield-enhancing complement to lower-risk core developed market fixed income building blocks. Additionally, investors have also been attracted to EM debt by virtue of its low correlation to traditional (e.g. developed economies) fixed income investments.

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Über den Autor

Jose Garcia-Zarate  is an ETF analyst with Morningstar UK.

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