duration in bond funds
Investors can use duration to help estimate how a bond or bond fund's value would be affected by a change in interest rates. For example, a bond with a duration of 5 years would be expected to rise 5% in value for every 1-percentage-point decline in interest rates (remember that interest rates and bond prices move in opposite directions). If interest rates go up by one percentage point, the bond's value would be expected to drop 5%.