"I am thinking about investing in closed end ETFs for corporate bonds (e.g. HYV, LBC, PHY etc.). "Well, of the three only HYV explicitly calls itself "high yield" (the standard eupemism for junk bonds); PHY calls itself "high income." But you aren't going to get those kinds of yields playing it safe. Vanguard's high yield fund, which sticks to the top tiers of junk, is yielding 6.9%. As Paul said, there may be leveraging factors at work with the closed-end funds that boost the yield beyond just holding the junkier junk, but those pose added risks as well.As with all things, you get what you pay for.
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