Vanguard Ultra-Short Treasury ETF (VGUS) offers low-duration Treasury exposure with a competitive 0.07% expense ratio, a good way to avoid duration risks while collecting a yield. The duration risk primarily comes from the fact that shocks to inflation can be persistent, and cause inflation to anchor higher due to expectations effects. Time is the enemy of duration bets where higher inflation rates are at higher risk of becoming anchored the more time passes, and therefore requiring a more heavy reverse shock.