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Best Mutual Funds Awards 2024: International Bond Funds

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

The 2024 Best Mutual Funds logo and accolades are available for licensing through Investor's Business Daily's partner, The YGS Group. For more information and ordering, please visit www.IBDlicensing.com or call 800-290-5460.

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