My MWE:
\documentclass{scrreprt}
\usepackage{tikz}
\begin{document}
Text \tikz\filldraw [lightgray,radius = 1pt] (0,0) circle[anchor = north]; more Text \tikz\filldraw [black,radius = 1pt] (0,0) circle[anchor = north]; more Text.
\end{document}
produces the following result
As you can see the circles are on the baseline of the text line.
How can one vertically center the circles within the text line? Vertically center is meant if one would draw a virtual line through the vertical center of the small letters, excluded letters with ''non standard'' height: f,g,h,i,j,k,l,p,q,t,y.
Thank you for your help and effort in advance!