$JNK's portfolio has been the largest in the segment for some good years; as it has been very popular and very liquid. And I've always seen it as a better high yield ETF for investors given it's cheap price as well. These high yield ETFs always fetch more returns but they are always highly risky.. as you might not get your money back. Not like in investment grade bonds where it's always certain to get the money back though the returns are small. I think this junk problem has been caused by the high supply rates; as companies are trying to get these low rates while they last.
These high yield ETFs should not be over looked as they go through this hard time. They add liquidity into the market and I feel the feds can come in to drive investors out of cash in safe investments to riskier assets to help rekindle the economy.