James Keenan, comanager of the BlackRock High Yield Bond fund, loves disarray in the markets.

FORBES: High Yield High Risk

Stephen Leeb , editor of Personal Finance, recommends taking a chance on junk bonds via a well-managed fund like the PIMCO High Yield Bond Fund ( PHDAX) .

FORBES: Magazine Article

Example: You are young and have a pot of retirement money divided equally between the Putnam Equity Income Fund (annual expenses, 1.32%) and the BlackRock High Yield Bond Fund (1.28%).

FORBES: A Dummy's Guide to 401(k)s

We also continue to own some traditional bonds funds, such as PIMCO Total Return Fund, in addition to other income-oriented investment vehicles such as the Nuveen High Yield Bond Fund, which yields more than 7%.

FORBES: Hedging Your Risk Without Missing The Bull Market

Shares of JNK have a positive edge in the short-term of just over three quarters of a percent, significantly higher than its rival, high yield bond ETF, the iBoxx High Yield Corporate Bond Fund (NYSE: HYG).

FORBES: Junk Bond ETFs Good Candidates For Oversold Bounce

There are people who will reach for yield either by going to a high-yield bond fund or maybe a long-term bond, but those, for me, pose a little bit too much risk.

FORBES: 2 Funds to Keep You Calm and Balanced

Consider a high yield exchange-traded fund like the Barclays High Yield Bond SPDRS ETF (NYSE: JNK).

FORBES: Junk Bond ETFs Good Candidates For Oversold Bounce

The trend, says David Sherman, manager of the RiverPark Short Term High Yield (RPHYX) bond fund could be drawing to a close.

FORBES: Betting On High Yield Bonds To Beat Equities In 2012