IShares Barclays 10-20 Year Treasury Bond ( TLH ) holds a portfolio of U.S. Treasury bonds and has a similar average maturity to PCY but only has a yield to maturity of 2.48%. Many emerging markets have improved their financial stability by abandoning fixed exchange rates, adopting inflation targeting, reducing external debt, and lowering fiscal deficits. If emerging markets continue growing their economies faster than does the United States, their currency could rise versus the dollar, which will be another source of positive returns for local-currency bonds.