Intermediate term treasuries represent the subset of government bonds between 3 and 10 years maturity. They are the most common bond holding in a portfolio.

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Intermediate term treasury bonds are the most common bond option and usually have good availability. That said, the maturity ranges can sometimes be a little confusing. Look for unhedged government bonds with a weighted average maturity between 5 and 10 years. A fund that holds bonds between 1-30 years with a WAM of about 10 years will have very similar performance to one that only holds 10 year bonds.

• DEV + USA — If you want to own the full developed government bond market but a global fund is not available, try mixing USA ITT and Dev xUS ITT.

• Directly Owned Bonds — Bonds can be directly purchased from the government. For intermediate term treasuries, create a ladder by buying bonds with 10 years to maturity and rolling them over into new ones when they have just 3 years remaining. Allowing them to fully mature is also fine.

Definition

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The Portfolio Charts intermediate term treasury bond data tracks the segment of the bond market with maturities between 3 years and 10 years. It also focuses exclusively on debt issued by countries, not companies. In the US they are called treasury bonds, but they may go by other names in different countries (gilts, bunds, etc.). While the data does not cover corporate bonds, the returns of treasury bonds are usually very similar investment-grade corporate bonds with a similarly high credit rating.

For bonds outside of your home market, there are two types of funds for the same types of bonds: currency hedged, and unhedged. Hedged bonds attempt to eliminate the impact of currency changes on bond yields (smoothing the ride) using active currency trading strategies. The data here exclusively tracks unhedged bonds. The extra exposure to currency differences means that international bonds will be more volatile than bonds in your home market.

Because the total bond market has a weighted average maturity in the same range, TBM funds are classified as intermediate bonds and have very similar performance. If you own a total government bond market fund that invests in the full range of maturities from 1-30 years, it is not necessary to use every bond option in the tools. Just allocate it to ITB.

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Long term treasuries represent the subset of government bonds between 10 and 30 years maturity. They are a volatile bond option best used to complement volatile stocks.

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Assume there are errors and always do your own research. No listings or links are sponsored. Because they track similar indices, all funds should have similar returns before fees.

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Other options when no long term bond funds are available

• Intermediate Term Treasury Bonds — Intermediate bonds are the closest option to long term bonds and are plentiful in any market.

• USA / Europe Long Term Treasury Bonds — Long term bond funds are more common in large markets.

• Directly Owned Bonds — Bonds can be directly purchased from the government. For long term treasuries, create a ladder by buying bonds with 30 years to maturity and rolling them over into new ones once they have just 10 years remaining.

Definition

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The Portfolio Charts long term treasury bond data tracks the segment of the bond market with maturities between 10 years and 30 years. It also focuses exclusively on debt issued by countries, not companies. In the US they are called treasury bonds, but they may go by other names in different countries. For example, they’re called bunds in Germany and gilts in the UK.

Treasury bonds issued by the government are generally considered safer than corporate bonds issued by a company. While the data does not cover corporate bonds, the returns of treasury bonds are usually very similar investment-grade corporate bonds with a similarly high credit rating.

Long term bonds are the most volatile bond option, and their value can swing just as sharply as stocks. Investors who use bonds as safe alternatives to risky stocks will prefer short term bonds. But those interested in risk-parity portfolios with multiple uncorrelated assets will find the volatility of long term bonds to be a positive.

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Treasury bills are a type of government bond most closely associated with cash. They are a great choice for storing short-term money with minimum risk.

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Assume there are errors and always do your own research. No listings or links are sponsored. Because they track similar indices, all funds should have similar returns before fees.

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Other options when no treasury bill funds are available

• Treasury Money Market Account — T-bill ETFs are not offered in some markets, but treasury money market accounts invest in the same bills.

• Short Term Bonds — Short term bonds have slightly higher interest rates for just a little more risk.

• Directly Owned Bonds — Bonds can be directly purchased from the government. For bills, buy 1-year bills and roll them over into new ones each year.

Definition

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The Portfolio Charts treasury bill data tracks the segment of the bond market with maturities of 1 year or less. It also focuses exclusively on debt issued by countries, not companies. In the US they are called treasury bonds, but they may go by other names in different countries. For example, they’re called bunds in Germany and gilts in the UK.

Treasury bills (often called T-bills or simply Bills) have long been valued for their dependable interest payments and steady preservation of capital. When you see an investing analysis that compares an investment to a “risk-free rate”, it is almost always referring to the return of treasury bills.

One interesting misconception about treasury bills is that because of their cash-like behavior, many people wrongly believe they always lose money to inflation. In reality, because they quickly roll over into new issues that track prevailing interest rates, they have historically been one of the better inflation hedges available.

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Short term treasuries represent the subset of government bonds between 1 and 3 years maturity. They are a low-risk bond option for safe money management.

Index Funds

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ETFs [homeTextDisplay] [homeDisplayImage]

Assume there are errors and always do your own research. No listings or links are sponsored. Because they track similar indices, all funds should have similar returns before fees.

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Alternatives

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Other options when no short term bond funds are available

• Treasury Bills — T-bills and short term bonds have similar maturities, and some people consider them interchangeable.

• Directly Owned Bonds — Bonds can be directly purchased from the government. For short term treasuries, create a ladder by buying bonds with 3 years to maturity and rolling them over into new ones as they expire.

Definition

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The Portfolio Charts short term treasury bond data tracks the segment of the bond market with maturities between 1 year and 3 years. It also focuses exclusively on debt issued by countries, not companies. In the US they are called treasury bonds, but they may go by other names in different countries. For example, they’re called bunds in Germany and gilts in the UK.

Treasury bonds issued by the government are generally considered safer than corporate bonds issued by a company. While the data does not cover corporate bonds, the returns of treasury bonds are usually very similar investment-grade corporate bonds with a similarly high credit rating.

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