iShares iBoxx $ High Yield Corporate Bond Index Fund ( HYG) High-yield corporate debt is a popular destination for risk-tolerant investors seeking steady income. Designed to target this corner of the bond market, HYG sets aside exposure to the sub-investment grade rated debt of a vast array of companies. The fund's portfolio lists nearly 500 individual holdings. Although the threat of a bond default looms over HYG, I do not foresee such an event occurring on a large scale in the near future. By keeping exposure small and focused, investors can safely benefit from the fund's nearly 8% yield. iShares S&P U.S. Preferred Stock Index Fund ( PFF) There are only a handful of ETFs available for investors looking to target preferred stock and PFF stands out as the strongest option. Whereas competing products like the PowerShares Financial Preferred Portfolio ( PGF) is dedicated solely to the financial industry, PFF utilizes a slightly more diversified approach to tracking this asset class. The 15% of PFF's portfolio not focused on the financial industry is spread across companies from sectors including consumer discretionary, industrial, and utilities. Ultimately, investors will need a strong appetite for financials in order to stomach any preferred share-focused ETF. However, the fund's 7% yield may make it worth the risk. Guggenheim Canadian Energy Income ETF ( ENY) Income-focused investors looking to expand their reach beyond the borders of the U.S. may want to put the ENY on the radar. This unique fund is designed to target Canada's lucrative energy industry. According to this fund's Website, this is achieved by combining exposure to Canada's highest yielding energy producers and fastest-growing oil sands players. Top holdings include Canadian Oil Sands, Suncor Energy ( SU), Imperial Oil ( IMO) and Meg Energy Corp. Currently, ENY's yield is in excess of 2%. Written by Don Dion in Williamstown, Mass.