The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) owns a basket of over 600 junk bonds from below-investment grade corporate issuers. The ultimate result of which has been tame inflationary metrics, steady jobs growth, corporate earnings expansion, and firm declines in Treasury yields. Namely, those who are holding higher duration securities with greater sensitivity to interest rate fluctuations are being paid little in additional yield premium for taking on this risk.