The best replacement for high yield is investment grade.

The best alternatives to high yield are rated as following:
★★★★★  investment grade
★★★★  low yield
★★  brs
★★  dividend growth
★  floating rate
★  leveraged loans
★  high grade
★  bank loans
★  leveraged loan
★  mezzanine debt
  doctors in training
  distressed debt
  standard toner

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high yield
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