“Consider risking abject boredom with your fixed-income allocation, investing in short-term Treasuries, FDIC-insured CDs and only the highest-rated diversified municipal bonds. These securities typically should not respond with high volatility if or when interest rates rise,” Maurer told CNBC.

For Treasury bond exposure, short-term ETF options include the iShares 1-3 Year Treasury Bond ETF (NYSEArca: SHY), which has a 1.85 year duration and a 0.7% 30-day SEC yield, Schwab Short-Term U.S. Treasury ETF (NYSEArca: SCHO), which has a 1.9 year duration and a 0.82% 30-day SEC yield, and Vanguard Short-Term Government Bond ETF (NYSEArca: VGSH), which has a 1.9 year duration and a 0.83% 30-day SEC yield.

Additionally, there are a number of short-term, investment-grade municipal bond ETFs available, including the SPDR Nuveen Barclays Short Term Municipal Bond ETF (NYSEArca: SHM), which has a 2.85 year duration and a 0.83% 30-day SEC yield, Market Vectors-Short Municipal ETF (NYSEArca: SMB), which has a 2.91 year duration and a 1.08% 30-day SEC yield, and iShares Short Term National AMT-Free Muni Bond ETF (NYSEArca: SUB), which has a 2.01 year duration and a 0.59% 30-day SEC yield.

For more information on the fixed-income market, visit our bond ETFs category.

Max Chen contributed to this article.

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