Alternatively, investors can take a look at the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEArca: HYG), which has a 5.57% 30-day SEC yield, and the PowerShares Fundamental High Yield Corporate Bond ETF (NYSEArca: PHB), which has a 4.79% 30-day SEC yield.

SPDR Barclays High Yield Bond ETF

For more information on the speculative-grade debt market, visit our junk bonds category.

Max Chen contributed to this article.

Full disclosure: Tom Lydon’s clients own shares of HYG and JNK.