Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield
The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.7% as of 11 December, down from the highest YTD level of 12.1% in May) that tracks the overall performance of publicly traded business development companies (BDCs, lenders to privately held middle-market businesses that tend to be below investment grade or not rated, with most lending comprising of senior secured loans).