BYLD is an index ETF investing in a diversified mix of BlackRock income ETFs, aiming to maximize yield without increasing risk. Its 5.2% dividend yield is slightly higher than average, as are the fund's returns since inception. Risks seem broadly low, drawdowns below-average. BYLD is a perfectly fine choice, but I think there are a couple of better ones out there.
BYLD offers diversified exposure to corporate and sovereign debt, aiming to maximize total income generated by any portfolio. The ETF is well-balanced between government yield and corporate bonds, with a sizeable yield currently at 4.91%. BYLD outperformed the iShares US Aggregate Bond ETF but may have rising credit quality concerns, making it a more dynamic option.