Where ETF Investors May Find 'Pockets of Value' | Page 2 of 2 | ETF Trends

Meanwhile, high-yield bonds were recently showing the largest premium over Treasuries in three years.

“Given our view that the U.S. economy should continue to post moderate growth and any increase in interest rates will be modest, we believe this asset class offers a combination of attractive yields and tamer volatility relative to equities,” Koesterich added.

The iShares iBoxx $ High Yield Corporate Bond ETF (NYSEArca: HYG) has a 6.65% 30-day SEC yield, SPDR Barclays High Yield Bond ETF (NYSEArca: JNK) has a 6.56% 30-day SEC yield, PowerShares Fundamental High Yield Corporate Bond ETF (NYSEArca: PHB) has a 4.92% 30-day SEC yield and AdvisorShares Peritus High Yield ETF (NYSEArca: HYLD) has a 10.53% 30-day SEC yield. [Why High Yield Still Has a Role to Play]

Alternatively, investors may consider higher quality fallen angel junk bonds that have a greater tilt toward the upper end of the speculative-grade spectrum. For instance, the Market Vectors Fallen Angel High Yield Bond ETF (NYSEArca: ANGL) tracks so-called fallen angel, speculative-grade debt and is one of the few junk bond ETFs with a positive performance so far this year. ANGL has a 5.63% 30-day SEC yield. [Fallen Angel Bond ETF for Higher Quality Junk Debt Exposure]

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Max Chen contributed to this article.