what is duration 
duration can measure how long it takes in years for an investor to be repaid a bond s price by the bond s total cash flows duration can also measure the sensitivity of a bond s or fixed income portfolio s price to changes in interest rates a bond s duration is easily confused with its term or time to maturity because certain types of duration measurements are also calculated in years however a bond s term is a linear measure of the years until repayment of principal is due it does not change with the interest rate environment duration on the other hand is nonlinear and accelerates as the time to maturity lessens michela buttignol investopedia