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Instead, bond index managers buy a representative sample.
A bond index tracked by HFR returned nearly 8 percent.
Bond index mutual funds had an average expense ratio of 0.35percentt.
J. P. Morgan's Emerging Markets Bond Index Plus was up 3.2percentt.
The Lehman aggregate bond index, which includes government, corporate and other bonds, was up 7.1percentt.
In June, Fidelity Investments announced a new sustainability bond index fund.
Moody's shifted in April to this method, using a high-grade taxable bond index.
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The next leg up for China would be inclusion in the JPMorgan's Government Bond Index-Emerging Markets Global Diversified.
Bond investors did even worse, trailing the benchmark Barclays Aggregate Bond index by 4.71 percentage points.
And the new status means Mexican bonds are now represented in benchmarks like the Lehman Brothers Aggregate Bond index.
The Lehman Aggregate Bond Index has 9,000 debt issues.
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