Look into FFRHX . They hold floating rate paper. They came through 2008 in decent shape. If rates ever go back up, they will do even better. FFRHX isn't a great payer as floating rate funds go ( I hold BKLN, PPR, VVR and JRO) but it is less sensitive to market downturns.
You have already answered your own question, PONDX is a very diversified bond fund invested mostly in domestic and foreign bonds plus some convertibles and preferred. It has a beta of 0.52, standard deviation of 4.2. The weighted average maturity 5.5 years and duration 3.5 years. YTD return is 1%, 1 year return 21.9%, 3 years 15.8%, 5 years 11.7% and life 11.0%. Look no further, grass is not always greener over the fence. Also Pimco's boss is Bill Gross, he is considered to be the "King of Bonds". Although he does not manage PONDX, he is still the chief of the company.