Most investors diversify internationally with stocks, but stop short when it comes to bonds. Dan Shaykevich, lead portfolio manager for emerging market debt and head of multi-sector strategy at Vanguard, makes the case for why international bonds deserve a place in your portfolio, and how to think about currency risk as a feature, not a flaw.

All investing is subject to risk, including the possible loss of the money you invest. Investments in bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.