No. of Recommendations: 2
Is there are reasons to prefer one over the other?

They track each other closely, as index-trackers will.

Indexing is crazy in debentures, esp. junk bonds. Give me sensible active management anytime. My bet's on HYLD, and has been for a while (an outsize position within my debentures allocation).

See :

over 1 year, HYG -0.30%; JNK -0.47%; HYLD +3.74%.

And that's besides the fact that while HYG and JNK pay coupons of about 6.13% and 6.09%, HYLD pays a far juicier 7.67%. This is all _after_ expenses/fees so the fact that HYG and JNK charge lower ones is no excuse. See for many useful links to materials about HYLD and why it's better;-).
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