The bond market has given investors pause, and the international bond market especially so. While continuing Covid-19, international war, and rising rates may scare investors, international bonds still add enough diversification to justify their place in the portfolio. Investors are more worried about inflation/interest rates now than Ukraine and Russia, and that risk is heightened domestically. As the Fed hikes rates, yields will rise and hurt domestic bond and equity portfolios. The Euro area has significantly less interest and inflation risk in the near term. Additionally, the deglobalization of covid is slowly going away, and as markets open up that will only improve the position of international bonds.

Finsum: ETFs with large exposure are best in international markets because tensions surrounding global issues are heightened right now.