\documentclass{article}
\usepackage{tikz}
\usetikzlibrary{topaths}
\tikzstyle{every picture}+=[remember picture,inner xsep=0,inner ysep=0.25ex]
\begin{document}
	
	
	This is a  very long \tikz[baseline=(node1.base)]\node (node1)  {\underline{sentence that}}; appears
	in this very \tikz[baseline=(node2.base)]\node (node2) {\underline{short short}}; document.
	
	\begin{tikzpicture}[overlay]
		% Bend above text line
		\draw[-latex] (node2.north) to[bend right] (node1.north);
		% Bend below text line
		%\draw[-latex] (node2.south) to[bend left] (node1.south);
		% Angled
		\draw[-latex] (node2.south) -- ++(0,-1.5ex) -| (node1.south);
	\end{tikzpicture}

\end{document}