+1 for the savings account
What TJ is saying is that when rate rise, the price of bonds fall. If you held bonds directly, the payout would stay the same, but the value of the account would drop. In an actively managed fund, how much the manager buys and sells individual holdings and their associated rates will affect both the net asset value (NAV or the price per unit) and the payout.
It is important to remember that bonds can and do typically go down in value in a rising market. Also, if the fund has any individual positions close during your holding period, you will have capital gains to deal with. This is not just when you sell, but on sales within the fund (I'm assuming this money is not in a qualified retirement account).
If this is money intended to be used in the next 24 months and if you can't afford to have it drop in value, leave it in a savings account. The rate is low on a savings account because it is guaranteed not to lose any principal.