About TRHYX
T. Rowe Price Institutional High Yield Fund is a mutual fund designed to pursue high current income, with a secondary objective of capital appreciation. Launched on May 31, 2002, it primarily invests at least 80% of its net assets in high-yield corporate bonds, commonly known as junk bonds, which are lower-rated or unrated debt securities offering higher yields but greater credit and default risks compared to investment-grade bonds. The fund maintains a diversified portfolio across approximately 260 issuers, with a portfolio turnover rate of around 41% and an effective duration of 2.91 years, balancing income generation with interest rate sensitivity. Credit allocations emphasize BB (31.53%), B (46.65%), and lower-rated bonds, supplemented by holdings in domestic and non-U.S. bonds, preferred securities, and minimal equities. Managed by T. Rowe Price with an expense ratio of 0.50%, it manages roughly $1.7 to $2.6 billion in assets, playing a key role in fixed-income strategies for investors seeking enhanced yields within the high-yield bond category.
Fund Family T. Rowe Price
Category High Yield Bond
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol TRHYX
Index Index is not available on Lipper Database
TRHYX had a total return of 4.12% in the past year, including dividends. Since the fund's
inception, the average annual return has been 6.50%.
