I'm not buying JNK or ETF tracking bond funds but underlying bonds. If you are buying the ETF, you are not getting the best yield but at average the 3% yield fo

I'm not buying JNK or ETF tracking bond funds but underlying bonds. If you are buying the ETF, you are not getting the best yield but at average the 3% yield for lesser risk due to diversification - which is kinda BS given the systematic risk we've witnessed over the past 10 years. Pick muni for high yield and low default risk yourself.