Some bond market watchers say that high-yield bonds – those rated between double-B and triple-C – aren't exactly bargains these days. Others say there's still opportunity in this part of the fixed-income market.
We checked in with Michael Chang, one of two subadvisers behind our favorite junk bond fund, the Vanguard High-Yield Corporate (VWEHX), to get the lowdown. Chang, of Vanguard's in-house bond group, runs one-third of the assets in the fund; Wellington Management's Elizabeth Shortsleeve runs the rest.
