https://www.morningstar.com/videos/889102/3-funds-that-could-be-cash-alternatives.htmlSusan Dziubinski: Hi, I'm Susan Dziubinski for Morningstar.com. Funds in the ultrashort bond category are generally high quality. You have some sector flexibility. Although they maintain durations of one year or less, they aren't replacements for FDIC-insured bank money market funds or certificates of deposit. That being said, here are three Morningstar Medalists in the ultrashort bond category that investors can use to diversify their cash holdings.