The fund's dollar - weighted average effective maturity will be two years or less. (usfunds.com)
This means there is very little long - term principal risk assuming you are actually holding the instrument across its average effective maturity. (pragcap.com)
Intermediate - term bond funds invest primarily in corporate and other investment - grade U.S. fixed - income securities and tend to have average effective maturities of four to ten years. (us.etrade.com)