I own EDD and notice that the portfolio's top holdings are Brazilian bonds. On April 30, 2008, S&P upgraded Brazilian bonds to an investment-grade credit rating.  As one comentator, Felix Salmon, wrote, "The upgrade is overdue if only because Brazil is now a net creditor nation, with reserves of more than $170 billion, and net creditors simply don't default...Now Brazil has its triple-B credit rating, it's extremely unlikely to lose it at any point in the foreseeable future."

The one thing I dislike, however, about EDD is the unnecessarily high expense ratio.  However, I do not consider that alone sufficient cause to sell it.

Jagor