FYI: IShares Fallen Angels USD Bond ETF is a small ETF worth keeping on your radar. It offers low-cost, broad market-value-weighted exposure to fallen angels, which represent an attractive area of the high-yield market. Fallen angels are bonds that were investment-grade when they were first issued, but their quality has since slipped below investment-grade.
Regards,
Ted
https://www.morningstar.com/videos/935636/a-fund-for-fallen-angels.html