The iBoxx Global Government ex-Japan Index (JPY Unhedged) measures the performance of investment grade, local currency-denominated sovereign debt issued by global central governments, excluding Japan. The index comprises bonds from Australia, Austria, Belgium, Canada, China, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, India, Indonesia, Ireland, Israel, Italy, Malaysia, Mexico, the Netherlands, New Zealand, Norway, the Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, Slovakia, South Korea, Spain, Sweden, Switzerland, Thailand, the U.K. and the U.S., with minimum amount outstanding requirements varying by currency. Bonds must have a minimum time to maturity of 18 months at issuance and 12 months at rebalancing. The index includes fixed coupon and zero coupon bonds denominated in their respective local currencies. Countries must maintain a minimum market size of USD 50 billion, GEMLOC scores above 50 and not be on U.S. or EU sanctions lists.