Based on the prices and dividends at the time of this writing, the average dividend yield of shares in Vitesse Energy (NYSE: VTS), the JPMorgan Equity Premium Income ETF (NYSEMKT: JEPI), and (NYSE: WHR) is 7.8%. All three are attractive, but all contain risk. Before adding these three stocks to a high-yield portfolio, here's what you need to know.

Vitesse is an oil and gas exploration and production company with a difference. Instead of owning and operating assets, it focuses on investing in minority working interests in assets produced by other leading companies. In addition, management follows a discretionary strategy of hedging some of its oil production to protect the downside risk of a fall in the price of oil.

It's an attractive model because it focuses the value creation activity of the company based on what management does best -- acquiring productive interests in oil wells and then generating cash flows from oil and gas production.

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Source Fool.com