Short-term Debt 

Generally, debt which matures in one year or less. However, certain securities that mature in up to three years may be considered short-term debt.

Remarks: Bond funds including mutual funds (open-end and closed-end, actively managed and indexed), exchange-traded funds and unit investment trusts offer a convenient and affordable way to invest in a diversified portfolio of bonds, but a bond fund investment can differ from a bond investment in ways that are important to understand.