Note, however, that the High Yield Master II is also a little more than 100 bp narrower than its historical average versus Triple-B corporates.

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Big oil is taking note of the opportunity as BP ( BP) and Royal Dutch Shell ( RDS.B) are investing billions in separate Brazilian ethanol ventures.

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Among the largest holdings in the iShares MSCI United Kingdom ETF are Vodafone ( VOD), BP ( BP), Royal Dutch Shell ( RDS.B) and Glaxo SmithKline ( GSK).

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KV-B is NOT any more of an an evil company than Exxon Mobile and BP petroleum.

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