Hello, the bonds invested by short-term debt funds have short maturities and mainly invest in the inter-bank bond market. The investment scope includes government bonds, local government bonds, financial bonds, corporate bonds, corporate bonds, subordinated bonds, short-term financing bonds, ultra-short-term financing bonds, central bank bills, medium-term bills, bank deposits, asset-backed securities, bond repurchase and other fixed-income financial instruments. Short-term debt funds are higher than monetary funds in income and risk, and lower than medium-and long-term bond funds, mixed funds and equity funds. Because short-term debt funds usually invest in bonds with a maturity of 6- 12 months, the portfolio duration is short, so short-term debt funds are less affected by market fluctuations, have strong ability to resist the upward risk of interest rates, have strong liquidity, low risk and stable income.