Bonds were steady after a recent sell-off, though the 10-year Treasury yield was a bit lower as the yield inched back toward 2.28% after a sharp rise earlier this week.

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Meanwhile, the five-year yield held at 2.83% and the three-month yield rose a bit, to 0.48% from 0.43%.

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These funds offer a little bit higher yield, and a little lower duration so they offer a little more protection in case interest rates were to rise.

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At worst, I believe, the high yield market has gotten a bit ahead of improving fundamentals.

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So it gives you a little bit more yield without taking on too much risk.

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"I'd rather trade off a little bit of current dividend yield for sustainable dividend growth, " says Chuck Carlson, editor of DRIP Investor.

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As with stocks, high-yield bonds benefit from a strengthening economy and a little bit of inflation, which make it much less likely that leveraged corporations will default on their bond issues.

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You know, right now, we do have a little bit more concentration in the preferred stock and high-yield growth.

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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.

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