Charles Schwab highlights a part of the stock market that will outperform if interest rates stay high

• There's an area of the stock market that will outperform amid higher interest rates, Charles Schwab said.
• The bank pointed to short-duration stocks, which beat the rest of the market in 2022.
• Their outperformance could continue if interest rates stay high, Charles Schwab said.

Stocks have been throttled by high volatility and rising interest rates over the past year, but there's an area of the market that could outperform as long as rates stay high, Charles Schwab said.