DL,

Check out FOF or YYY. Both of these funds are high yielding, highly recommended by the author and are 'fund of funds', so diversification upon diversification (if you don't want to pick you own funds, this is the best way to go).

What's more, since FOF is a CEF (YYY is an ETF), you can also get discounts on top of discounts since FOF is currently trading at a discount to NAV and owns several CEFs within the fund that are also trading at discounts (e.g. cheaper to buy the fund (sum) than the individual securities that are invested within it (parts). The holy grail site for CEFs is www.cefconnect.com. You can get all the pertinent information on CEFs.

Best of luck!