High-Yield

The result is bigger opportunities for gains when the market goes up—but a bigger chance of losses when the market tanks, says David Sherman , principal at Cohanzick Management and portfolio manager of the RiverPark Short-Term High-Yield fund.

The New Bond Market Ben Levisohn 2012

Other options include the $18.7 billion iBoxx Investment-Grade Corporate Bond ETF, which has an expense ratio of 0.15%, and the $13.4 billion iShares iBoxx High-Yield Corporate Bond ETF, which charges 0.5% in fees.

The New Bond Market Ben Levisohn 2012

Julianne Bass , who manages $1.6 billion of high-yield assets for USAA, recently bought some commercial-mortgage securities for USAA's High-Yield Opportunities Fund.

Some Funds 'Junk' Strategy Prabha Natarajan 2011

Mr. Rufenacht guides the $327 million high-yield fund with the same approach he used while running Janus High-Yield for seven years, focusing on higher-quality debt and shorter maturities less vulnerable to price swings.

Degrees of 'Junk' Risk Tom Lauricella 2011

Stephen Todd Walker , a managing director at Oppenheimer & Co., recommends shorting the Market Vectors High-Yield Muni ETF , which invests in below-investment-grade issues.

Unstable Condition 2011

The Barclays Very Liquid High Yield Bond Index is 25% more volatile than the Barclays High-Yield Bond index, which contains a mixture of liquid and less-liquid securities.

The New Bond Market Ben Levisohn 2012

One measure is the average yield on bonds in the benchmark Merrill Lynch High-Yield Master II index.

'Junk' Bond Appetite to Be Tested Prabha Natarajan 2011

The ING Pimco High-Yield Portfolio has an 8.7% cash stake, well above the category average of 5.9%, yet has been in the top 25% of high yield funds during the past one and three years, according to Morningstar.

The New Bond Market Ben Levisohn 2012

Sarah Bush , a senior fund analyst at Morningstar, suggests the $15.6 billion Vanguard High-Yield Corporate fund, which has an expense ratio of 0.25% and has just 1.6% in cash.

The New Bond Market Ben Levisohn 2012

For shorter bonds, the Vanguard High-Yield Tax-Exempt fund has an average effective yield of 11 years.

Why Munis Are Worth a Look Jack Hough 2011