A bond with short maturity has less "interest rate risk" than a bond with long maturity when all other features-coupon interest rate, par value, and interest payment frequency-are the same.

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Interest rate risk is the risk that a bond's value will decrease due to changes in interest rates. A bond with a short maturity will be less affected by changes in interest rates than a bond with a longer maturity. Therefore, a bond with short maturity has less interest rate risk than a bond with a long maturity when all other features are the same.

A Bond with Short Maturity Has Less "Interest Rate Risk