A bond ladder is a portfolio of bonds that have different maturities, that may range from months to years in difference.
A bond ladder is designed to reduce interest rate risk and create predictable income streams. An investor will build a bond ladder often in an effort to reduce interest rate risk and also to create predictable income streams, where coupon payments happen at different times and principal is also returned in various intervals.
What is the Ladder Strategy for Structuring My Bond Portfolio?
How Do I Structure My Bond Portfolio?