ANGL’s credit quality includes BBB 1.8%, BB 76.9%, B 13.6% and CCC 4.5%. The fund has a 4.70% 30-day SEC yield and a 5.72 year duration.

Alternatively, the investors can use the iShares Baa – Ba Rated Corporate Bond Fund (BATS: QLTB) for targeted exposure. The fund’s portfolio includes BBB 72.5% and BB 26.3%. QLTB shows a 3.72% 30-day SEC yield and a 6.63 year duration.

Additionally, Kochan believed that municipal bonds rated A or BBB are also getting to the point where an investor can find decent income at an average 3.3%. [Municipal Bond ETFs Attractive After Sell-Off]

Investment-grade municipal bond ETF options, though, largely tilt toward the upper end of the quality spectrum with heavy weights in AAA-, AA- and A-rated debt securities. The iShares National AMT-Free Muni Bond ETF (NYSEArca: MUB) has a 4.7 year duration and a 1.81% 30-day SEC yield or 3.19% tax equivalent 30-day SEC yield for those in the highest income bracket, SPDR Nuveen Barclays Municipal Bond ETF (NYSEArca: TFI) has a 8.1 year duration a 8.03 year duration and a 2.21% 30-day SEC yield or 3.91% tax equivalent yield, and Market Vectors Intermediate Municipal Index ETF (NYSEArca: ITM) has a 7.33 year duration and a 2.39% 30-day SEC yield or 3.95% tax equivalent yield.

For more information on the fixed-income market, visit our bond ETFs category.

Max Chen contributed to this article.