As opposed to settling for individual debt issues by various countries, there's an easier way: the Vanguard Emerging Markets Government Bond Index Fund ETF Shares (VWOB). VWOB seeks to track the performance of a benchmark index that measures the investment return of U.S. dollar-denominated bonds issued by governments and government-related issuers in emerging market countries. A strong dollar for much of 2022, higher interest rates, and rising global inflation presented a triple whammy for emerging market investors.