Indeed, rival BlackRock is planning its own short-duration junk bond ETF. The firm manages HYG, which holds about $15.5 billion of assets. [iShares Files to Launch Short-Duration, High-Yield ETF]
Some ETF providers have recently launched ETFs tracking high-yield corporate bonds, but with built-in hedges that protect against rising interest rates. [High-Yield ETFs with Rate Guards]
Also, PowerShares Global Short Term High Yield Bond Portfolio (NYSEArca: PGHY) takes a more international approach.
Full disclosure: Tom Lydon’s clients own HYG and JNK.
Story updated to add global high-yield bond ETF.