The high-yield emerging market bond ETF also includes targets the riskier developing economies, including China 13.6%, Brazil 9.7%, Turkey, 9.2%, Russia 8.7% and Argentina 8.6%, among others.

Investors who are interested in high-yield debt but are loath to focus on emerging debt can also look at the VanEck Vectors International High Yield Bond ETF (NYSEArca: IHY), which tracks the BofA Merrill Lynch Global ex-US Issuers High Yield Constrained Index, an index of below investment grade corporate bonds issued by non-U.S. corporations in the major domestic or Eurobond markets. IHY has a 3.84% 30-day SEC yield.

Similarly, IHY is exposed to speculative-grade-rated debt, including BB 69.5%, B 24.6% and CCC 5.6%.

However, IHY largely includes European debt securities, along with a smattering of other international issuers, including U.K. 13.2%, Brazil 9.2%, Italy 8.1%, Canada 6.8%, China 6.7%, Russia 6.4%, Luxembourg 6.4%, France 5.3%, Germany 4.2% and Netherlands 3.4%.

Financial advisors who are interested in learning more about the fixed income market can register for the Thursday, May 11 webcast here.