So I wouldn’t make such an absolute statement that there’s value back in bonds, but it’s fair to say that the 10-year Treasury was trading “rich” a few months ago, and is now trading more at a level that better reflects the level of growth and inflation that’s present in the U.S.

…generally what happens in ETFs has less of an impact on the overall bond market than what happens in mutual funds. As an example, when investors pull money out of a bond mutual fund, managers have to raise cash, manage the liquidity, and bonds are going to be sold to support that flow.

A term-maturity ETF gives those same benefits. Investors can get diversification, and they’ll also get regular income in monthly distributions, while knowing that at some point in the future, the bonds in the fund mature and the fund pays out the proceeds of all those maturities to the investor.