BlackRock ETF Trust II - BlackRock High Yield ETF is an exchange traded fund launched by BlackRock, Inc. The fund is co-managed by BlackRock Fund Advisors and BlackRock International Limited. It invests in the fixed income markets of global region. The fund invests in non-investment grade bonds including corporate bonds, convertible debt securities, mezzanine investments, collateralized debt obligations, bank loans, loan assignments and loan participations, and mortgage-backed and asset-backed securities which are rated BB or lower by S&P Global Ratings or Fitch Ratings, Inc.