Final answer:
High-yield bonds are risky but offer above-average interest payments; mortgage-backed bonds are backed by liens on specific property to guarantee payment.
Step-by-step explanation:
High-yield bonds are risky but offer above-average interest payments. These bonds, also known as junk bonds, have a higher chance of default due to the high risk associated with them. On the other hand, mortgage-backed bonds are backed by liens on specific property to guarantee payment. These bonds are considered safer as they have a tangible asset backing them.