This article represents opinions of the author and not those of his firm and are subject to change from time to time and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment strategy. The
Bond - fund investors need to focus on duration, credit quality, and relative yields to better understand how much risk they're taking on, says Morningstar's Eric Jacobson.
Morningstar's Eric Jacobson outlines three short-term bond funds that can protect against rate sensitivity, but mind the risks as such funds aren't cash substitutes.