High-Yield Bond Funds Correlation With Equity

[mathjak107]

Take a peak at FAGIX--A touch different from the typical HY, but those 5 year returns are really juicy. Yes it does have a track similar to equities.
Not a HY fund, but one that is pretty steady is FFRHX. Higher yield than MM and IMO not that much more risk. And...no real equity correlation.
I really don't have any feelings one way or the other as to the timing of new purchases.

ffrhx is a very very short term hi yield fund . its the very short duration that takes alot of the risk away. it also takes away alot of the gains too. i use ffrhx as a step up from a money market.