Fund · State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF · measured from SEC filings
BWX holdings
BWX reports 1,372 holdings and behaves like 911.5 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-06-30. The fact sheet publishes the first number; this page computes the second, and traces it across 28 quarters of filings.
Measured concentration
as of 2026-06-30Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 0.03% at a quoted market price (level 1), 45 issuer countries, 44.86% restricted securities.
What stands out
as of 2026-06-30BWX's largest investment is Japan Government Five Year Bonds at 0.32% of net assets. Japan Government Ten Year Bonds and Republic Of Austria Government Bonds follow; the three together are 0.92%. Ten companies are 2.77% of the fund; the other 1,362 share the rest. Among the 192 bond funds measured here, BWX behaves like 911.5 holdings against a median of 236.4 — 3.9 times the median. Across 28 quarterly filings BWX has become less concentrated: it behaved like 608.7 at 2019-09-30 and 911.5 at 2026-06-30. Between the 2026-03-31 and 2026-06-30 filings 35 positions were added and 38 dropped; 10.1% of the weight moved. Japan is the largest country at 22.96% of the portfolio, across 45 countries in the filing.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable bond funds on this site. Nothing here is a view on the fund.
Every filing since 2019
28Between 2019-09-30 and 2026-06-30, BWX went from behaving like 608.7 equally weighted positions to 911.5 — 50% more, while its top ten went from 4.73% to 2.77% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-06-30 | 1,372 | 911.5 | 2.77% | 0.33% |
| 2026-03-31 | 1,375 | 908.1 | 2.72% | 0.3% |
| 2025-12-31 | 1,313 | 884.9 | 2.86% | 0.32% |
| 2025-09-30 | 1,315 | 880.7 | 2.8% | 0.33% |
| 2025-06-30 | 1,335 | 865.7 | 3.25% | 0.46% |
| 2025-03-31 | 1,247 | 847.4 | 3.01% | 0.37% |
| 2024-12-31 | 1,245 | 813 | 3.67% | 0.68% |
| 2024-09-30 | 1,245 | 837.4 | 2.99% | 0.35% |
Earlier filings (20 more, back to 2019-09-30)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-06-30 | 1,204 | 780.4 | 3.39% | 0.42% |
| 2024-03-31 | 1,179 | 758.2 | 3.43% | 0.46% |
| 2023-12-31 | 1,206 | 511.2 | 5.68% | 2.73% |
| 2023-09-30 | 1,112 | 687.8 | 4.29% | 0.59% |
| 2023-06-30 | 1,090 | 677.9 | 4.55% | 0.72% |
| 2023-03-31 | 1,107 | 689.4 | 4.65% | 0.66% |
| 2022-12-31 | 1,083 | 660.3 | 4.83% | 0.85% |
| 2022-09-30 | 1,007 | 560.3 | 6.24% | 1.19% |
| 2022-06-30 | 974 | 532.7 | 6.63% | 1.34% |
| 2022-03-31 | 952 | 501 | 7.21% | 1.41% |
| 2021-12-31 | 978 | 487.2 | 7.63% | 1.51% |
| 2021-09-30 | 972 | 489.3 | 7.57% | 1.45% |
| 2021-06-30 | 969 | 496.8 | 7.51% | 1.43% |
| 2021-03-31 | 985 | 492.9 | 7.5% | 1.66% |
| 2020-12-31 | 958 | 491.1 | 7.21% | 1.74% |
| 2020-09-30 | 962 | 500.4 | 7.12% | 1.81% |
| 2020-06-30 | 901 | 497 | 6.9% | 1.86% |
| 2020-03-31 | 922 | 558.1 | 5.76% | 1.47% |
| 2019-12-31 | 919 | 600.9 | 4.86% | 1.04% |
| 2019-09-30 | 923 | 608.7 | 4.73% | 0.77% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
Largest positions, as filed
as of 2026-06-30The 15 largest of 1,372 positions in BWX's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: BWX.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | Japan Government Five Year Bonds | 0.33% | 0.3% |
| 2 | Japan Government Ten Year Bonds | 0.31% | 0.6% |
| 3 | Republic of Austria Government Bonds | 0.30% | 0.9% |
| 4 | Kingdom of Belgium Government Bonds | 0.28% | 1.2% |
| 5 | Japan Government Ten Year Bonds | 0.28% | 1.5% |
| 6 | Japan Government Ten Year Bonds | 0.27% | 1.8% |
| 7 | Netherlands Government Bonds | 0.26% | 2.0% |
| 8 | Japan Government Ten Year Bonds | 0.25% | 2.3% |
| 9 | Japan Government Ten Year Bonds | 0.25% | 2.5% |
| 10 | Japan Government Ten Year Bonds | 0.25% | 2.8% |
| 11 | Australia Government Bonds | 0.25% | 3.0% |
| 12 | Japan Government Ten Year Bonds | 0.24% | 3.3% |
| 13 | Japan Government Thirty Year Bonds | 0.24% | 3.5% |
| 14 | Japan Government Ten Year Bonds | 0.24% | 3.7% |
| 15 | Australia Government Bonds | 0.24% | 4.0% |
By country of issuer
as of 2026-06-30Share of BWX's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
Returns the fund reported
2019-07 – 2026-06Monthly total returns from Item B.5 of BWX's own filings, 84 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference 0.23 percentage points over 84 months, which is roughly the distributions. Every month with the filing it came from: BWX.json · all funds.
Who borrows BWX's shares
2026-06-30The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2026-06-30, $3m was out to 2 borrowers, 0.21% of net assets. The largest, JP MORGAN SECURITIES LLC, held 94.5% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| JP MORGAN SECURITIES LLC | $3m | 94.5% |
| MORGAN STANLEY & CO. INTERNATIONAL PLC | $156,092 | 5.5% |
Cash collateral reported against the loan: 0.01% of net assets, 4.8% of the amount lent. That is a floor on the collateral, not the whole of it — collateral the fund does not hold as a position is not in this filing, so a figure under 100% is not evidence of under-collateralisation. How that figure behaves across all funds. Every quarter BWX has filed, with each borrower: BWX.json · all funds.
Since the previous filing
2026-03-31 → 2026-06-301,373 positions became 1,370: 35 added (1.7% of the fund at the later date), 38 dropped (2.6% at the earlier date). Half the sum of all weight changes, a turnover proxy: 10.1%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of BWX compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-03-31 | 2026-06-30 | Largest decreases | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|
| Japan Government Five Year Bonds | 0.22% | 0.33% | Japan Government Ten Year Bonds | 0.30% | 0.16% |
| CANADIAN GOVERNMENT | 0.04% | 0.12% | Kingdom of Belgium Government Bonds | 0.27% | 0.14% |
| Japan Government Thirty Year Bonds | 0.05% | 0.12% | Japan Government Ten Year Bonds | 0.28% | 0.15% |
| DENMARK GOVT BOND | 0.02% | 0.08% | Bundesschatzanweisungen | 0.16% | 0.05% |
| KOREA TREASURY BOND | 0.04% | 0.10% | Canada Government Bonds | 0.17% | 0.06% |
| KOREA TREASURY BOND | 0.05% | 0.12% | Italy Buoni Poliennali Del Tesoro | 0.15% | 0.05% |
New: JAPAN (10 YEAR ISSUE) (0.23%), JAPAN (5 YEAR ISSUE) (0.20%), JAPAN (2 YEAR ISSUE) (0.14%), JAPAN (5 YEAR ISSUE) (0.14%), Australia Government Bonds (0.10%), JAPAN (30 YEAR ISSUE) (0.07%). Gone: Japan Government Five Year Bonds (0.16%), Australia Government Bonds (0.15%), MEX BONOS DESARR FIX RT (0.14%), Japan Government Two Year Bonds (0.13%), Republic of Austria Government Bonds (0.13%), Japan Government Five Year Bonds (0.12%).
Asset categories and pricing
as of 2026-06-3099.97% debt, 0.02% short-term investment as filed; 0.0% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.
Neighbours by effective holdings, debt funds
10Every measured debt fund lined up by how many holdings it behaves like; these sit either side of BWX (911.5). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| BND Vanguard Total Bond Market Index Fund | 17,397 | 877.7 | 4.63% | 2026-06-30 |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 1,478 | 903.4 | 4.4% | 2026-05-31 |
| ITM VanEck Intermediate Muni ETF | 1,369 | 905 | 3.9% | 2026-07-31 |
| IAGG iShares Core International Aggregate Bond ETF | 8,357 | 906 | 6.08% | 2026-07-31 |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1,322 | 907.5 | 3.57% | 2026-05-31 |
| IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 1,846 | 957 | 3.65% | 2026-07-31 |
| IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 2,777 | 999.7 | 4.23% | 2026-07-31 |
| BNDX Vanguard Total International Bond Index Fund | 6,999 | 1088.6 | 4.54% | 2026-07-31 |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 1,935 | 1127.1 | 3.17% | 2026-06-30 |
| VCLT Vanguard Long-Term Corporate Bond Index Fund | 2,778 | 1211.8 | 3.25% | 2026-05-31 |
Essays that examine BWX
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