The Western Asset High Yield Defined Opportunity Fund Inc (HYI) is a mutual fund that focuses on investing in high-yield fixed income securities. The fund aims to provide investors with a defined opportunity for high returns through a diversified portfolio of bonds and other debt instruments. Managed by Western Asset Management Company, the fund seeks to generate income and capital appreciation by investing in a variety of sectors and credit qualities. With a focus on high-yield investments, the fund may carry a higher level of risk but also offers the potential for higher returns.