International bond exchange traded funds allow investors to diversify their portfolios or to fill out a targeted investment strategy.

ETFs that track international debt securities help investors meet a number of investment goals, writes William Baldwin for Forbes.

For instance, the iShares International Treasury Bond ETF (NYSEArca: IGOV), which tracks bonds denominated in local currencies issued by foreign governments in developed markets outside the U.S., provides investors with a play on a weakening U.S. dollar. The ETF has a 7.03 year duration and a 0.98% 30-day SEC yield. [ETF Spotlight: International Treasury Bonds]

Many U.S. investors tend to have a home bias, forgoing exposure to international investments. International bond ETFs help investors diversify and gain access to a range of different global fixed-income assets.

The Vanguard Total International Bond ETF (NYSEArca: BNDX) provides broad exposure to international debt, including foreign investment-grade government, corporate and securitized debt. Additionally, the fund hedges its currency exposure, which can diminish volatility attributed to the Forex market. BNDX has a 6.8 duration and a 1.35% 30-day SEC yield. [This International Bond ETF Hedges Currency Risk]