Given current interest rates, even a long-term bond at 5.5% will have significant default risk priced in. Vanguard's non-junk long-term corporate bond ETF presently yields ~4.4%. https://personal.vanguard.com/us/funds/snapshot?FundId=3147&...

yep which is why their junk ones yield ~5.5

just change the weights closer to lower B's and some C

or sprinkle a little leverage on Vanguard's non-junk fund for the same yield