NEW YORK ( TheStreet) -- Since the financial crisis, high-yield bonds have soared. During the past three years, high-yield mutual funds returned 16.3% annually, according to Morningstar. Can the rally continue? Probably. High-yield bonds yield 7%. That is a tempting payout at a time when 10-year Treasuries yield 1.73%.But high-yield bonds -- which are rated below-investment grade -- can drop sharply when investors sour on the outlook for the economy. To limit risk, consider strategic income funds. Besides high-yield bonds, the funds hold a mix of high quality and international issues. Portfolio managers change allocations as market conditions vary.