Watch this video before investing another dollar into an overvalued bond fund. Many popular bond funds try to replicate 'the market' and since the market is largely bonds priced at a premium to par, you are buying many bonds priced in the 120s and 130s when you buy a fund. When you buy bonds at these levels, there's a good chance these high-premium bonds will stop appreciating in value. In this case, you have reduced your upside and maximized your downside.
This video shows how, through owning individual corporate bonds, you can be selective and buy bonds at a relative discount. Doing so maximizes your upside and reduces your downside. Being able to buy a bond at the price you want is one of the most powerful advantages of owning individual corporate bonds rather than bond funds and ETFs.