No. of Recommendations: 0
Try High Yield Munis instead.

They are typically not hit as hard as high yield corps because the demand for tax free income remains pretty constant unless their is a change in tax laws. I recommended this fund to many of my clients throughout last year:

http://quicktake.morningstar.com/Fund/Snapshot.asp?Country=USA&pgid=hetopquote&Symbol=nhmax&t1=1137596225

Nice consistent increase in NAV and a respectable 5%+ yield.

Another one I have used a little (it has been a bit more volatile but has a higher return and yield).

http://quicktake.morningstar.com/Fund/snapshot.asp?Country=USA&Symbol=ORNAX

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