IGOV
iShares International Treasury Bond ETF
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Most non-US sovereign debt funds are going to be of types of countries versus a single country. They will typically also track some index. You have to make sure you understand debt concepts like duration and credit risk. IGOV is a ultra short duration product. Most non-US sovereign debt funds are not short duration. So depending on what you are seeking and the duration - there are funds like: IGOV which are non-US developed countries with an average duration of about 7.5 years. GGOV which is USD hedged but holds about 1/3 US treasuries. And tracks the Bloomberg Global treasury USD hedged index. PCY which is an emerging markets sovereign debt ETF. There are more funds like this - but you have to understand that these are not considered risk-free rate investments.
70% VTI and 30% VXUS if long term (10+ year). However the markets are a bit strange right now so it wouldn’t be abnormal to put however much % you want into SGOV or IGOV or TBIL (nearly risk free).
Also GOVT/IGOV +18% Also DXY +6%, since apparently everyone on Reddit suddenly consumes in Euros now.
BNDX is hedged to dollar. IGOV is not, but higher expense ratio, as there is no Vanguard competitor.
How stupid is it to buy a fund like IGOV that is a largely eurozone and international bond ETF as a hedge against a weak dollar, as an alternative to commodities which are already skyrocketing.
This is basically my take as well and why I'm looking at hedges and foreign products. I wish silver and gold weren't already so high. Silver isn't TOO bad. I was looking at some foreign bond ETFs like IGOV focused a lot on eurozone government bonds. Dollar hedge basically
Or IGOV. Just make sure it isn’t currency hedged.
Non currency hedged european bond fonds like IGOV or BWZ
Actually I don't like that one, as its tied to the USD. Of that's your goal, it's good If you don't want USD hedge, ISHG is my pick, or IGOV
There is a Francs etf FXJ and JPY ETF which is FXY. I briefly looked at IGOV and BWZ. My main hedge is gold. Been in it since 2022 and added a good amount in February. Gold seems kind of high I’m not sure what accounts for the values mooning. Maybe retail is finally coming around to what has been a consensus trade…
IGOV is decent but the returns suck if the dollar isn’t losing value, mainly because foreign interest rates are a good bit lower than the IS
I put a little into IGOV and BWZ which are non currency hedged ex US developed market government bonds. It hasn't really performed well - I think I bought near the top. I'll probably continue holding for a good while - it's mainly for asset preservation. I increased a decent amount of my asset allocation in January/february, about 10% into gold (GLD and IAU). Unfortunately, I'm holding GLD in a taxable brokerage for a long time, the gains are substantial, and I can't swap into GLDM because of taxes.
IUSB yields about 0.5% more on average but with bond funds/etfs every little bit helps (%yield, %er) to make it worthwhile over purchasing bonds themselves (though most may prefer shorter term CDs, TIPs for inflation, etc. the latter US govt backed for US saver-investors fwiw). It still has enough investment grades and ultimately Treasuries to weather foreseeable downdrafts, plus probably respond better to the inevitable bounceback. High yield default rates long term averaged 4% in the 1980s down to 2% recently; 2009 was a high with 10% defaulting in the U.S., but the amt of high yield in IUSB is still very low vs investment grade. Now if looking at risk parity like I did when starting, look at long term Treasuries. I did following the late Harry Browne’s advice on his late ‘70s “permanent portfolio” though there’s an updated discussion on optimized portfolio website (which points out that investment grade corporates aren’t as safe as govt bonds … to each their own). Caveat: I might be a little fearless as I still have long term Treasuries and even long term zeroes from a previous “risk parity” portfolio of mostly US aggressive growth for .. growth vs. LT treasuries as a “hedge”, though still be looking to cash most of those in with my going into retirement bond funds [they themselves “4 fund”] being almost equal SHY/maybe ISTB, IUSB>>TLT, hedged BNDX>>> unhedged IGOV (not counting actual TIPs and CDs to cash in …). [i]Add[/I] so for stocks, I’ll be “2 fund” with VONE>IXUS in my IRA (US self-directed retirement account), .. for bonds I’ll have more than a few funds/etfs to spread various risks.
Yes, that's what I'm thinking. I was looking around for ETFS, and came up with ISHG and IGOV. Do you have any thoughts on others?
IGOV has been a better bet with the falling USD.
I did the same thing. All the administration's rhetoric pointed to reducing US exposure. Increasing isolationism + loss of trust from allies + pressure to increase NATO military spending: invest in European non-US defense spending (EUAD and KDEF) Dollar devaluation: protect uninvested cash with foreign currencies, precious metals, and safe foreign-denominated bonds (FXE, FXF, FXY, GLD, IGOV) My cash alone has outperformed VOO over the past 3 months. If a cult of unchecked loudmouth lunatics hellbent on getting their way tell you their plans: believe them.
FSPSX is where a large chunk of my S&P investment went (I still have a decent amount in the S&P). I moved more into bonds than I have been when I rebalanced and picked up IGOV and ISHG. I have some exposure to emerging markets in IEMG. That’s about 3/5 and the rest is in S&P or GUNR and some longer shot stocks I’ve picked up with some of my dry powder cash.
Just find something not hedged against the USD. IGOV would do it, SGOV for international bonds. Good mix of global currency etc. GLD, SLV are metals. You don't you though
There are only two that I know of, both of which hold sovereign bonds only. IGOV - Developed nations only, capped weights BWX - All nations, not capped (so Japan is \~23%) They both have 0.35% ER. I hold both equally.
Commodities if stagflation hits, I'm in gold. IGOV is good to try to stay ahead of the dollar decline, it's SGOV but for international bonds not hedged against the dollar.
As we're all highly regarded here, probably better off with an unhedged international bond index like IGOV instead of messing with currency futures. Get the yield no matter what, and the currency upside on the yield if the dollar continues to shit the bed.
Take a look at IGOV instead of SGOV for cash. Non USD hedged foreign short term bonds. If the dollar goes down another 10% it will be a decent value store.
I think there is such a thing as both over-sold and over-bought. I think we will decline further this year and probably revisit lows. One thing you repeatedly see people on the web saying is "it makes no sense" and that's somewhat true. When you crash that low that quickly short sellers take profit and buy to close. There is also de-risking which is why you are seeing stocks that have been inactive for years see volume. If you introduce volatility you introduce risk and risk tolerance is getting lower than 2024. We are two standard deviations away from baseline on [buffet indicator again](https://www.currentmarketvaluation.com/models/buffett-indicator.php). When this usually happens we go down and go down a bunch. Consumer confidence is the lowest it has been in decades and business confidence is in decline. Every single time a republican has been in the executive branch for the last 100 years has produced a recession, they are batting a thousand over a century. AI is not replacing people but folks are getting fired "because" of it and replaced with cheaper offshore workers. Federal employees are also being fired and for every of them there are 1.3 non-federal workers that assist them. Small business accounts for roughly half of the workforce and are being hit hard by tariff's they will not be able to just absorb. I think over the next 18 months we will see unemployment rise. The big question is if inflation rises as well; in that case the only place to hide will be commodities because stagflation is brutal and difficult to get out from under. If the tariff's are removed tomorrow it will lessen the impacts from all of this but it's coming regardless. Does this mean the market "crashes"? Probably but if the dollar devalues fast enough it could "rise" because foreigners buy stocks on the cheap with their higher valued currency. The DXY is down 10% since January and may hit 20% this year. This means anything we import right now is 10% more expensive on top of 10% tariff's. I can't really make a case with a growth story and bright future for the average american right now. Are we going to bring back manufacturing here? Maybe in 10 years but we can' fill the manufacturing jobs we have right now. If bonds go higher and the market is fluctuating rapidly with crashes and abrupt upturns I think at the very least you will see a lot of people turning to bonds for safety if not other currencies or a combination of the two like IGOV. Good luck out there.
44 GenX here. I pulled my 401k to international and bonds in December with only 5% US. Pulled out before "liberation day to a Money Market. 1% on a quarter isn't much but the economic anarchy I'm seeing is worth the wait. I'll DCA in month by month starting August depending on conditions. I also have 6 figures i actively play with. 20% gold for a good while now, 30% dumped to UNH AT 255-280, some in MO etc. As a value store instead of SGOV I use IGOV which are non-usd-hedged international bonds. I think the administration's stated goal is dollar devaluation so I found little places to gain based on that. I don't think we are even close to through the worst of this but I have been known to be wrong. My guess is August lows and then some rocky Sept / October to end the year down overall but 5-10% not 50. Depends on inflation/ stagflation and bonds. We are also actively killing world economies right now, Japan, EU, Canada, Mexico ... you name it we are harming it with this nonsense.
I have bonds... but in non currency hedged foreign bond funds (like IGOV and BWZ)...
I see IGOV and I'm glad you explained that one (hadn't looked into it because it says IGOV :) . I like that one a lot. Also saw the Swiss Franc and I know I saw the Canadian dollar on Fidelity when we first went to it. We were wondering what was going to happen to it if they managed to elect a sane leader. We were talking about investing in foreign currency a while ago. I didn't draw the line that it'll help with the devaluation of the dollar (or if I did, I forgot ...). You've motivated me to get this done tomorrow. I really appreciate it.
It’s not something I ever thought I’d have to consider, but here we are. FXF = Swiss Franc FXE = Euro IGOV = a bond fund consisting of non-US Government Intermediate Debt from Developed Countries
Just IGOV it if you think the dollar falls further.
Just be mindful of your purchasing power. It might be wise to diversify into other cash equivalents (FXF, FXE, IGOV) so you're a bit hedged against a falling dollar.
The old pieties about the market always coming back were always hooey. After the 1929 crash the market by April 1930 regained 2/3rds of its previous high (buy the dip!). It afterwards sank, month by month and year by year to a low from which it did not recover for 25 years. And many individual stocks (and especially the investment trusts - predecessors to today's mutual funds) went to pennies and never came back. Do I predict the future? No. No one can. HOWEVER There are rational sober reasons to believe that a fundamental change is afoot - a re-ordering of the stability that existed since WWII. Ukraine may fall, NATO is already compromised, and against the dangers those things create an endangered Europe is already re-arming. Germany has troops on foreign soil starting in 2025 -- for the first time since 1945. The dollar may cease to be the world's reserve currency -- and will continue its recent decline -- so even if your stocks go up, you lose. MEANWHILE the petroleum production is the secret underpinning of USA power since 1859 will decline. Traditional petroleum is nearly gone on the terrestrial USA, and the fracking miracle that took USA production to new heights may have already peaked -- with a depletion curve that may be rapid. Meanwhile the President is damaging anti-terrorism, scientific research and our highest academia: not a recipe future success. So how to go to safety? Rule #1: nothing is certain -- no currency, no commodity, no real estate, no nothing. Except beans maybe. Dried beans. High protein and if you keep 'em dry they last forever. If no one buys them from you, you can eat them, and unlike Bitcoin they don't depend on a healthy Internet and infinite ponzi of new suckers. Of course, what you gonna do, drag them beans around? So I went to cash -- dollar CDs mostly. And put some in ETFs consisting of treasuries of foreign governments -- a way to hedge against a possible fall of the dollar, and (assuming those currencies remain at least a parity with the dollar) get some interest. IGOV is one example. I also put small amounts into a silver ETF and an ETF of Swiss Francs. Maybe the USA's resilience will keep the USA's remarkable run going, and maybe recovery won't take a generation. That would be great! But in the meantime, I'm eating beans.
I'm selectively going bear on a few stocks in Sept. and Jan 26 puts. If MangoTango doesn't let up on the tariffs like the market expects then things go south in an organized way. DASH is gonna hurt even if they don't declare it an actual "Recession" but the IV is poop so ITM. Costco while a great company is ridiculously overvalued. LLY is gonna fall more (got 800 and 780 puts on it for September when it was > 900) especially if they put tariff's on pharma the 15th or so. Long a few like MO and ACI. Also have 100 share of GLD and a bunch of shares in IGOV as my holding zone for now. I'm also putting money into ETF's for Japan and EU still. I think Japan may finally be getting out of the dog house after 30 years so I'll buy and hold that for a long time 14 P/E or something average there and same with EU.
I think he’s saying that IGOV is the international version of sgov
IGOV is also viable if the dollar keeps catering. Sgov for international bonds.
[https://www.schwab.com/learn/story/making-international-great-again](https://www.schwab.com/learn/story/making-international-great-again) That's from March but you can just as easily check ETF's that are international like IEUR is up 15% YTD. 10% of this is the devaluing of the USDby 10% YTD. Hell IGOV is at like 8% on the year and that's international bonds so a hedge against currentcy and 2x the total annual return of SGOV SO FAR this year. What you normally expect to happen in this scenario is stock market down and bond market goes down as people flee for safety. The bond market didn't do that and it scared all the institutions. This administration wants the dollar down because they "want to refinance the debt", how low is anyone's guess but 2008 we were 1.25 USD for 1 Euro. Keep checking the DXY futures to see what's happening to your money because the market may "just be down 5% from January 1st" but in real world value that is 15% due to the USD. Things are getting strange out there and real money is investing in countries with P/E of 14 vs our P/E of 26 on a currency that keeps falling. Hell buffet's favorite investments are in Japan right now and looking at the 5 year on those companies says something about stability.
I typed up a long-winded reply. It's complicated... I bought IGOV in Feb because I saw the DXY dropping. It's not a slam dunk but it's been good so far because it's not currency hedged so as the USD loses value it gains value. Since my life's savings are in USD, I'd like to preserve some purchasing power here. For bond ETFs, think about two things: the NAV (the value of the share) and the yield. IGOV's duration (i.e. the weighted average of bonds held by the ETF) is longer than what I sold (IEI) to buy it. Longer duration bonds are more sensitive to duration risk ("interest rate risk"): [https://portfoliocharts.com/2019/05/27/high-profits-at-low-rates-the-benefits-of-bond-convexity/](https://portfoliocharts.com/2019/05/27/high-profits-at-low-rates-the-benefits-of-bond-convexity/) However, US interest rates / yields are higher now. So they have farther to drop. If we get a recession and everyone rushes to drop rates, I don't know which will do better: IEI or IGOV. Also since rates are lower in Japan and Europe (look at the top holdings of IGOV, they are bonds from those places), the monthly yield of IGOV is lower than IEI so the currency devaluation needs to make up for it. If the USD drops maybe \~10% more I'll look at getting out of IGOV and back into US debt. I'd stay short term though (SGOV). I am becoming leery of long duration US government debt because i suspect it will not keep up with inflation. I think I'm not alone in this fear and I wonder if we get to a place where the 10y yield is way out of whack with what the Fed sets the overnight lending rate at -- especially if Trump pressures the Fed to cut quickly, even in the face of tariff stoked inflation. If bond yields rise (or don't drop as much) because of "bond vigilantes" demand a premium at auction, it will hurt the value of IEI (and TLT, way more so).
IGOV isn't currency hedged, it's my insurance on the dollar declining.
IGOV is significantly more volatile than IAGG. I couldn't tell you whether that's bad though.
When did you get in IGOV? It closed at $42 which is almost 52 week high. For international would you recommend ACWX or VXUS?
Move some to protective puts and IGOV.
Dunno... BND is US bonds including corporates vs. IGOV is foreign government debt. The latter is going to be sensitive to the relative currency strength vs. the former is not. BND is a little shorter on the average duration and higher yield though. But if you think that the DXY is going to continue to drop, that's a tailwind to IGOV and not BND.
Hm IGOV and not BND...hard for me to track the USD currency hedge part if I compare them. Would be interested in more context from you on that if you care to type it out.
I’d say the opposite, IGOV has currency risk, BNDX is hedged against that. Like the poster said above, IGOV should do well if the dollar falls. The foreign country pays in Pounds or whatever and that translates to more dollars than before since you need more dollars to buy a Pound. And worse in the opposite case.
I've always owned a little paper gold and recently bought more despite the fact that it's at an ATH. I also own a little bitcoin and a commodities fund. I also recently opened a hedging put option to sell SPY at $505 by EO2025. I did this despite owning the S&P500 which is a little crazy but I'm trying to dampen the blow and consider it "insurance". I'm supposed to be in a \~60/35/5 (stocks/bonds/commodities) allocation and I've pushed it to a 49/39/12 (with a focus on VXUS, IGOV, etc...) which is about as much screwing around as I have the appetite for. At the end of the day, I would love to be a Bogler but I can't resist tweaking things here and there. Especially when, IMHO, it's pretty clear what's on the horizon. We'll see though.
I was understanding BNDX was as straight up international bond etf - are you saying it is not and IGOV has less risk?
Are you arguing for BNDX? IGOV isn’t currency hedged like BNDX.
Yeah the DXY is falling. I'm worried about that too. Like OP, I'm in a lot of cash at the moment. Like Hot\_Top\_124, I'm hedging the dollar's loss of value. I'm not in foreign currencies but rather IGOV (foreign bonds, non-currency hedged). They earn a lower yield but they gain value as the dollar weakens. I've also moved my equities position international though if the S&P gets sick I'm sure the world will catch the same cold.
12 months is my thinking. Most of it in diversified cash equivalents (SGOV, IGOV, FXF, IBIT, HYSA). If I’m wrong and the market rips then my 401k will benefit - I have made no change there. Taxable accounts are completely defensive right not. My only “play” currently is EUAD. Otherwise I’m out of equities entirely outside of retirement accounts.
Just hang out in IGOV or SGOV till August and see what happens! Probably more money than trading the tweet's
\> Don't overthink it, it you want to hedge then get a mix of FXE, FXF, BWZ, BWX, IGOV and let run until a new administration is in sight Makes sense! Thanks for the list. I don't know what the right moves are, but the traditional "comfort language" (the market always comes back, etc.) seems very out-of-date for a new world which may be post-NATO, post-Ukraine, post-Taiwan, post-Dollar as the reserve currency, or at least the chance of such changes. My joke is the descriptor "paranoid" seems out of date -- there must always be a line that distinguishes rational and irrational fears. But I am reminded of this quote: "There is a thin line between genius and insanity. I have erased that line." (attributed to Oscar Levant, and others).
Nothing thoughtful going on there -- just wrote what I knew. And I didn't know IGOV is listed on many exchanges.
Why did you write NASDAQ next to IGOV?
BWZ is also there, short term bonds unhedged. FXE and FXF do have some yield and it's fairly close so the standard \~2% you can expect on EURO these days. I think it makes sense to hold some diversity to hedge against the USD heavily inflating, especially if you have costs in Euro in the future. Just keep in mind that BWZ, BWX, IGOV will all react differently to for example straight up currency (i.e. FXF, FXE). Bonds and treasuries have their own market and market dynamics, but they DO increase in value if/when more capital pulls out of the USD and US. Don't overthink it, it you want to hedge then get a mix of FXE, FXF, BWZ, BWX, IGOV and let run until a new administration is in sight.
ETFs for Swiss Francs and for foreign sovereign bonds - NASDAQ IGOV
Can also check out IGOV for the dollar. Not hedged against the USD
Yes. IGOV average duration ~ 9.5 years vs. BWZ ~ 2 years. Similar expense ratios. IGOV may have like .2% better yield, probably due to duration.
Fuck this market. I'm switching to IGOV and IAU.
If you're 94% in IGOV then that isn't a hedge, it's just your position.
If you are gonna buy international bonds, make sure they are unhedged. BWX, ISHG, IGOV
BWX and ISHG instead of IGOV, which is currency hedged.
A safety play might be IGOV. SGOV with a mix of foreign bonds not hedged against the dollar. Still think FXF is safe though.
VTABX is USD hedged, meaning it is following the USD. So when USD tanks it takes VTABX with it. IGOV, BWZ, BWZ are better bet if you think the USD will continue to inflate wrt foreign currency.
How does this apply to dollar denominated ETFs that hold foreign bonds (like IGOV)?
75% IGOV, 25% TSLZ for the week.
Concur with this. I looked half my bonds and moved them to IGOV a few weeks ago. Seems like it was a good move so far, and the logic was that this gets me foreign bond exposure without dollar currency hedge.
I'm currently holding 94% in IGOV. ISHG is a comparable international bond ETF with shorter duration (1-3 yr). I'm not invested in stocks right now due to tariffs and political uncertainty in the US. Will buy back if we regain the 200D MA, if tariffs are rolled back, or if SPY hits 480s. I do wonder though if you can get a better entry on IGOV and ISHG as they and the dollar have just made big moves
I have my money in IGOV to hedge the decline in the USD. IGOV is an international bonds ETF (7 year duration). it's basically a diversified basket of different currencies so maybe that's what you're looking for.
SPDW (not sure if unhedged) and IGOV
I’m not an expert either, but I’ll offer my thoughts. BNDX is *supposed* to hedge against change in relative currency values. How effectively the fund managers accomplish this affects how well it will serve as a hedge against a falling dollar. I would not count on it to do so, its value lies more in being a secure bond fund that shouldn’t collapse if the US Treasury bond market does. IGOV has been going up, and I largely suspect that is indeed due to the falling dollar.
IGOV is unhedged and this is why I own IGOV not BNDX. ISHG is short-term and unhedged
I have IGOV which is up 10%+ vs. BNDX because it is unhedged against the US dollar. This way if the US dollar goes down IGOV goes up which is why it's outperforming BNDX and why I bought it
It is, and I’m on a learning curve so my take away so far, tentatively, is that bndx wont capture the outperformance of foreign currencies against the dollar right now, it will just try to mitigate the downside for dollars (?) As for IGOV, it has a lot of momentum at the moment. Is this mostly due to the falling dollar? I’m guessing so
GLD good; safety play is IGOV though. SGOV isn't gonna be the dollar slowly? going to 1.25 against EUR:)
I haven’t found a good way to reliably check that, other than digging through the list of holdings. If it has a bunch of currency futures, that’s usually currency hedging. IGOV appears to be a pretty good unhedged bond fund, investing in several countries/currencies.
My personal strategy is a combo of IGOV and FXF as a hedge against the dollar’s drop in value
IGOV. It’s not pegged to USD and the EU is likely to cut rates to stave off the deflationary impact of China dumping more goods into the EU that would have formerly been destined for the USA.
LOL yea I'm 90% IGOV and 10% TSLZ
I full ported IGOV in February with some SQQQ and SCC. Up 37% YTD :)
Personally, I’m hoarding cash/cash equivalents, IGOV and SGOV and will look to DCA back in when I feel like there’s some reason for optimism.
I added a few portfolio percentage points to shortish foreign sovereign bonds with IGOV and BWZ. Though frankly it seems more futile than comforting.
IGOV works BNDX is US dollar hedged
This is an old thread, but I am in a similar boat. I ended up abandoning buying foreign currency because its a real pain. And if you have an interest bearing account, you can be double-taxed on the income. The US takes its cut and the foreign government, too. An easier way I did to get international exposure that hedges against US currency devaluation are international bonds. IGOV is an option that has exposure to foreign currency because you're buying foreign bonds and they're denominated in that currency. Vanguard's BNDX is a non-US bond fund which hedges against both good and bad exchange rate fluctations by buying forward currency contracts. So its not great if the dollar weakens. What did you end up doing?
I mean, what do you as an American even do at that point? I already loaded up on IGOV a few weeks ago as a hedge, and shifted VTI to VT after the election.
I’ve had trouble finding exactly this in the U.S. (I want to be able to trade options in the U.S. on euro debt funds but the Europeans don’t like that idea.) Are you looking for it to be entirely/mostly European sovereigns or is it fine if it’s just European soverign- heavy? Also, do you want it to be of any specific country? There are a few like IGOV or FLIA which have international sovereign debt and are Europe- heavy, but I haven’t found a pure play and they have sizable exposure to other regions. There are some non- US products like GLTY (LSE) which have purely specific European sovereign issues but they trade on foreign exchanges.
All my money is in IGOV. It's a diversified ETF of international government bonds (developed markets). Essentially you're just owning a bunch of different currencies plus some interest. If the US dollar gets cooked, IGOV does well because those currencies do well relative to the USD. Plus as we are seeing US treasuries haven't seen the normal flight to safety. But a collapse in the US economy will bring the world with it and foreign bonds should do well. IGOV has 7 year average duration but ISHG is short term (1 - 3y) international government bonds. I'm up 36% YTD in my main account due to some successful SQQQ and SCC buys. Maybe I know something, may I'm just lucky
Initially I went bonds and international ... Then SGOV. Now I'm just slow rolling into IGOV / Gold and long term puts on spy. I think the dollar get's to a shiny 1.2 or above this year against the Euro.
IGOV and VT is where I am mostly at. And will continue to be for a while, I think. Diversity and get yourself a hedge on the dollar.
The money tree rained on me May 28th. Didn't dump it in the market. SGOV, IGOV and GLD + some gambling cash... just gonna ride this out.
The dollar index has generally been going up since 2011 so that makes sense. It started to turn around in January, so if you compare the two YTD then IGOV is about 7% better already. Whether the dollar continues to weaken relative to other currencies for another 5+ years is the question, in my opinion it will. But I also think international bonds are kind of lame and pay pretty low interest rates so it's hard to justify buying them... I've been moving US stock to international stock but I'm not really sure what I'm going to do about my cash and bonds.
This is a super important distinction. But I'm confused. I'm comparing IGOV (not currency-hedged, you're saying) with BNDX (currency-hedged, I believe). So with the dollar now falling against most major currencies, the short-term performance of IGOV is considerably ***worse*** than that of BNDX. Apples to apples, shouldn't that be reversed? They're the same class of funds, I believe. FWIW, BNDX has considerably better performance across 3, 5, and 10 years as well. I'll dig more into the composition, but any immediate thoughts about the discrepancy?
Just put it in a safe home like IGOV till August
I bought IGOV 
I am converting my SGOV to IGOV, so I feel like I'm doing something of value.
I personally moved money in to IGOV that I had floating around. A) I don't think the sell off is over and September 1st i think I'll reevaluate. B) I think they will try to weaken the dollar more IGOV gets a boost there. You can literally put it anywhere JEPI, VOO, BRK.B, JEPQ at 28, not look at it for 40 years and be happy. Good luck.