This has long been one of my favourite short term funds available. It is run by a strong management team, and has delivered decent risk adjusted returns over the long term. At the end of March, its duration was 2.7 years, and it offered a 1.5% yield to maturity. However, with an MER of 1.16% for the advisor sold units, the cost was making the fund uncompetitive, particularly if there are no further rate cuts coming from the Bank of Canada. If you can buy the Series D or Series F units, this is still a great pick, but if you are using the advisor class units, I believe the PowerShares 1-5 Year Laddered Corporate Bond Fund is a better choice, offering a higher yield and a lower cost.