High-yield Bonds
These are also called junk bonds, here are a few good ones recommended by Kipliinger's Personal Finance magazine:
- Vanguard High-Yield Corporate (4.8%), a fund geared to relatively safe junk bonds.
- VanEck Vectors Fallen Angel High Yield Bond ETF, with a payout level of 4.9%.
Bank Loans
Here are a few good bank loans: Fidelity Floating Rate High Income - it buys debt of firms with OK credit (3%), Loomis Sayles Senior Floating Rate and Fixed Income A (5%).
Foreign Bonds
Foreign bonds usually pay higher rates than U.S. securities, if you are willing to take a little more risk. Fidelity New Markets Income yields 5.8% and buys bonds of countries in eastern Europe, Latin America and the Middle East.
Master Limited Partnerships (MLP)
MLPs own oil pipelines and other infrastructure in the energy sector. Enable Midstream Partners yields 7.9%, Enterprise Products Partners is a large and well diversified pipeline that yields 6.1%.
If you are okay to take a little extra risk, there are two more options you could consider.