Using fixed income ETFs as saving vehicles

[tan fish]

Just wondering if anyone here has used fixed income ETFs like LQD (corporate), AGG (US govt), or HYG (junk bonds) as a vehicle to save cash for medium term periods of time. Wondering what people's thoughts and experiences have been with trading (potentially) higher returns than a standard savings account for increased risk. I've got about 8K that just came to me in a minor windfall and want to park it somewhere for about a year, but would prefer to get a higher rate than the less than 1% offered by ING, Ally, etc.

[jpg7n16]

Just wondering if anyone here has used fixed income ETFs like LQD (corporate), AGG (US govt), or HYG (junk bonds) as a vehicle to save cash for medium term periods of time. Wondering what people's thoughts and experiences have been with trading (potentially) higher returns than a standard savings account for increased risk. I've got about 8K that just came to me in a minor windfall and want to park it somewhere for about a year, but would prefer to get a higher rate than the less than 1% offered by ING, Ally, etc.

What are you planning on doing with the funds in 1 year?
If the ETF fell in value, how would that affect your ability to do what you're planning?

[tan fish]

What are you planning on doing with the funds in 1 year?
If the ETF fell in value, how would that affect your ability to do what you're planning?

I don't have any plans for the cash that are set in stone now. I'm just considering the money general savings for medium to long term expenses such as for a new car or home a few years down the road.

I should mention the reason I noted LQD and HYG specifically are because they each pay monthly dividends, so any returns would be significantly better (hopefully) than putting it in a savings bank (dividend yield much higher than 1%), and both can be traded free with fidelity, which is my principal brokerage account.

Thoughts anyone?