The iShares Lehman 5-7Yr Treasury Bond (IEI) ETF is up around 1% this week.
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The Goldman Sachs Emerging Markets Debt (GSDIX) fund is up 4.87%, while IEI is nearly 7%.
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Mutual fund managers have done better than the ETFs, but not better than IEI.
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Year-to-date, the total return on EMLC is 5.46% versus IEI gains of 6.58%.
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By comparison, JNK is beating the Barclays 3-7 Year Treasury Bond Fund (IEI), which is down 0.5 percent year-to-date.
Over the last 12 months, IEI is up 3.16% while the iShares MSCI Emerging Markets index (EEM) ETF is up just 1.24%.
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By comparison, the iShares 3-5yr UST (IEI) exchange traded fund is up 5.9% and the Goldman Sachs Emerging Markets Debt (GSDIX) fund is up 3.2%.
The iShares 3-7Yr UST (IEI) exchange traded fund is up 6.68% while the Market Vectors Emerging Markets Local Currency (EMLC) bond ETF is up just 1.62%.
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Emerging market Central Banks and sovereign wealth funds from Saudi Arabia to China are all big buyers of U.S. Treasurys, driving up bond prices and helping IEI beat EMLC, GSDIX and OEMAX handedly over the last 12 months.
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The iShares Barclays 3-5Yr Treasury Bond (IEI) ETF is up 1.48% since Aug. 8 as investors piled into the ETF for safety, driving up the price of the equity but definitely not driving up the yield of the underlying instruments.
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The higher yield in the underlying assets of funds like EBND are of no help, because EBND is down 1.5% so far in September while the zero yield of the iShares 3-7y US Treasury Bond (IEI) fund is up 0.35% thanks to higher bond prices.
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