About PRHIX
T. Rowe Price High Yield Fund - I Class is a mutual fund designed to deliver high current income, with a secondary aim of capital appreciation through investments primarily in high-yield bonds. Launched on August 28, 2015, this institutional share class targets below-investment-grade securities, often called junk bonds, rated BB and lower, employing rigorous credit analysis to assess issuers' debt repayment ability and potential upgrades to investment grade. The fund maintains broad diversification across 264 issuers, with key sector exposures in financials (12.8%), energy (12.4%), health care (8.3%), and information technology (7.3%), alongside credit allocations emphasizing BB (31.2%) and B-rated (30.2%) bonds. Featuring an effective duration of 2.92 years, a turnover rate of 41.8%, and total assets exceeding $6.75 billion, it benchmarks against the Bloomberg US High Yield 2% Issuer Capped Index. Managed by experienced professionals including Rodney Rayburn since 2019, the fund holds a competitive expense ratio of 0.62% and has earned strong Morningstar ratings in the high yield bond category for risk-adjusted performance.
Fund Family T. Rowe Price
Category High Yield Bond
Performance Rating Average
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol PRHIX
Share Class T. Rowe Price High Yield Fund-i Class
Index Index is not available on Lipper Database
PRHIX had a total return of 1.40% in the past year, including dividends. Since the fund's
inception, the average annual return has been 5.18%.
