NEW YORK ( TheStreet) -- The spike in long-term U.S. Treasury yields has many investors believing the bond bubble has finally popped. But there's still money to be made in bonds and bond ETFs.

TheStreet searched for the best bond ETF ideas with Tom Lydon, editor of ETF Trends, and Christian Magoon, CEO of Magoon Capital.

SPDR Barclays Capital High Yield Bond ETF ( JNK)

High-yield, or junk, bonds are a good place to find steady yield during a low-interest-rate environment. Lydon says the SPDR Barclays Capital High Yield Bond ETF is a good place for investors seeking those elevated yields, provided they can handle the extra risk. The fund normally invests at least 80% of total assets in securities that comprise its benchmark index. At last check, the yield on JNK was 9.7%.

"Now is a great time for corporations because liquidity is returning to the markets, default rates are dropping and they are sitting on nearly $2 trillion in cash. An improving environment coupled with yields that remain handsome make high-yield corporate debt an appealing destination if you don't mind the risks," says Lydon.

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