Treasury yields are taking markets by storm. The yield on six-month Treasurys has surged past 5%, while the one-month is at 4.6%. The yield on the benchmark 10-year Treasury touched around 4% on Thursday. And a day earlier, the two-year yield hit its highest level since November. Thanks to that surge, investors are now looking to bonds for yield — particularly short-term ones. There’s another factor: stocks are floundering after a January rally. On top of that, investors are uncertain about whether the U.S. Federal Reserve will keep interest rates higher for longer, given that inflation has been proving hotter than expected . Short-term bonds appeal to investors who want to take advantage of higher yields at the moment, but don’t want to lock in their money in case markets bounce back — or if the Fed makes a dovish pivot. Investors with those preferences have also been flocking to short-term Treasury exchange-traded funds with durations of one to three years. Treasury ETFs are convenient in that they trade like stocks, track bonds closely and pay a regular dividend. Some examples include Vanguard Short-Term Treasury Index ETF and the Schwab Short-Term U.S. Treasury ETF. Top-rated, short-term bond ETFs But there’s another corner of the short-term bond market with yields that could go even higher. CNBC Pro screened for top-rated, ultra-short term bond funds using Morningstar data. Criteria include a five-star rating from Morningstar, positive total returns over the past three years, and have a SEC (U.S. Securities and Exchange Commission) 30-day yield of more than 4%. These mutual funds and ETFs showed up on the screen. A SEC 30-day yield shows the yield investors can earn over the course of a 12-month period — if the fund continued earning the same rate for the rest of the year. Ultra-short term bond funds typically invest in bonds with shorter durations of less than a year. They comprise a mix of government and investment-grade corporate bonds, or just the latter. Some funds could get higher yield as they venture into riskier asset-backed securities. Bear in mind that corporate bonds bring more risk than government bonds since you are buying corporate debt.