If you’re still concerned about default risk, you may be more comfortable with iShares iBoxx $ Investment Grade Corporate Bond (NYSEArca: LQD), which still offers an attractive 4.75% yield – better than most Treasury bonds.

For higher yield and higher risk, iShares iBoxx $ High Yield Corporate Bond (NYSEArca: HYG), PowerShares Fundamental High Yield Corporate Bond (NYSEArca: PHB) and SPDR Barclays Capital High Yield Bond (NYSEArca: JNK) might be right up your alley. All three offer yields currently well above 7%.

For full disclosure, Tom Lydon’s clients own shares of LQD.

Tisha Guerrero contributed to this article.