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PRHYX T. Rowe Price High Yield

  • Fund
  • PRHYX
  • Price as of: Aug 08, 2016
  • $6.56
  • + $0.01
  • + 0.15%
  • Category
  • High Yield Bonds

PRHYX - Profile

Vitals

  • YTD Return 6.1%
  • 3 Yr Annualized Return 3.9%
  • 5 Yr Annualized Return 5.8%
  • Net Assets $9.49 B
  • Holdings in Top 10 6.3%

52 WEEK LOW AND HIGH

$6.56
$5.87
$6.56

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.75%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 68.40%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

Closed to new investors as of 2012-04-30

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

High Yield Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 6.1%
  • 3 Yr Annualized Total Return 3.9%
  • 5 Yr Annualized Total Return 5.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 6.03%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name T. Rowe Price High Yield Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Dec 31, 1984
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Mark J. Vaselkiv

Fund Description

The T. Rowe Price High-Yield Fund (PRHYX) seeks to provide a high level of current income from a portfolio of fixed-income securities. The actively managed fund invests at least 80% of its portfolio in junk bonds or debt made to firms with less-than-stellar credit ratings. PRHYX seeks to limit the default risk of such bonds by only focusing on the upper tier of junk and by using rigorous credit analysis when choosing its portfolio of bonds.

Given its low costs, PRHYX makes an ideal core holding in any fixed-income portfolio. The fund is internally managed by T. Rowe Price.

PRHYX - Performance

Return Ranking - Trailing

Period PRHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 6.1% -30.0% 20.5% 30.61% 3
1 Yr 2.9% -30.5% 10.8% 39.17% 2
3 Yr 3.9% * -11.3% 8.2% 28.99% 2
5 Yr 5.8% * -12.9% 7.6% 18.00% 1
10 Yr 7.1% * -12.2% 12.4% 14.74% 1

* Annualized


Return Ranking - Calendar

Period PRHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -8.8% -34.3% 7.2% 39.36% 3
2014 N/A -5.0% -1.0% N/A N/A
2013 N/A -1.3% 3.8% N/A N/A
2012 N/A 7.4% 9.6% N/A N/A
2011 N/A -8.1% -0.2% N/A N/A

Total Return Ranking - Trailing

Period PRHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 6.1% -30.0% 20.5% 31.40% 3
1 Yr 2.9% -30.5% 10.2% 28.88% 2
3 Yr 3.9% * -11.3% 8.2% 23.33% 2
5 Yr 5.8% * -12.9% 7.6% 15.07% 1
10 Yr 7.1% * -12.2% 12.4% 12.24% 1

* Annualized


Total Return Ranking - Calendar

Period PRHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -8.8% -34.3% 7.2% 38.99% 3
2014 N/A -4.8% -0.6% N/A N/A
2013 N/A -1.3% 4.5% N/A N/A
2012 N/A 7.4% 10.4% N/A N/A
2011 N/A -7.8% -0.2% N/A N/A

NAV & Total Return History

PRHYX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

PRHYX Category Low Category High PRHYX % Rank Quintile
Net Assets 9.49 B 859 K 19.6 B 1.38% 1
Number of Holdings 544 1 1294 4.29% 1
Net Assets in Top 10 593 M -32.2 M 3.99 B 1.99% 1
Weighting of Top 10 6.3% 0.0% 100.0% 29.14% 5

Top 10 Holdings

  1. T Mobile Usa 6.5% 0.75%
  2. Neptune Finco 144A 10.125% 0.75%
  3. Seven Generations Engy 144A 8.25% 0.64%
  4. Arqiva Broadcast Holdins 144a 0.63%
  5. Asurion Llc Tl 2l Bankdebt 0.62%
  6. Western Digital 144A 10.5% 0.61%
  7. Altice Sa 144A 7.75% 0.57%
  8. Vpi Escrow 144A 6.375% 0.57%
  9. First Data 144A 7% 0.57%
  10. Lincoln Fin Li 6.875% 0.56%

Asset Allocation

Weighting Category Low Category High PRHYX % Rank Quintile
Bonds
89.75% -5.63% 107.80% 19.33% 4
Cash
6.67% -11.47% 133.84% 9.82% 2
Other
1.33% -34.84% 38.60% 12.88% 3
Stocks
1.03% 0.00% 99.05% 7.52% 2
Convertible Bonds
0.74% 0.00% 18.92% 6.90% 2
Preferred Stocks
0.48% 0.00% 12.41% 11.20% 2

Stock Sector Breakdown

Weighting Category Low Category High PRHYX % Rank Quintile
Communication Services
0.42% -0.05% 9.22% 1.91% 1
Energy
0.29% 0.00% 11.08% 4.45% 1
Utilities
0.15% -0.08% 7.62% 2.75% 1
Real Estate
0.11% 0.00% 7.16% 3.60% 1
Industrials
0.06% 0.00% 13.93% 5.08% 1
Financial Services
0.00% 0.00% 16.69% 9.96% 3
Healthcare
0.00% 0.00% 24.74% 5.93% 3
Technology
0.00% -0.01% 24.70% 5.72% 2
Consumer Defense
0.00% -0.14% 5.89% 5.51% 2
Consumer Cyclical
0.00% 0.00% 17.17% 10.59% 3
Basic Materials
0.00% 0.00% 2.68% 6.14% 3

Stock Geographic Breakdown

Weighting Category Low Category High PRHYX % Rank Quintile
US
0.81% -0.04% 81.88% 7.06% 2
Non US
0.22% -0.01% 53.49% 4.29% 1

Bond Sector Breakdown

Weighting Category Low Category High PRHYX % Rank Quintile
Corporate
86.61% 0.00% 101.98% 18.71% 4
Cash & Equivalents
6.67% -7.60% 133.84% 9.66% 2
Government
1.58% -6.62% 39.91% 9.36% 2
Securitized
0.86% 0.00% 68.88% 10.28% 2
Municipal
0.00% 0.00% 99.16% 3.68% 2
Derivative
-0.12% -19.62% 5.63% 4.91% 5

Bond Geographic Breakdown

Weighting Category Low Category High PRHYX % Rank Quintile
US
62.80% -5.63% 100.00% 25.15% 5
Non US
26.95% 0.00% 45.22% 2.91% 1

PRHYX - Expenses

Operational Fees

PRHYX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.75% 0.00% 7.85% 23.66% 1
Management Fee 0.59% 0.12% 1.00% 3.53% 3
12b-1 Fee 0.00% 0.00% 1.00% 5.76% 1
Administrative Fee 0.15% 0.00% 0.45% 3.23% 4

Sales Fees

PRHYX Fees (% of AUM) Category Low Category High PRHYX Rank Quintile
Front Load N/A 2.00% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

PRHYX Fees (% of AUM) Category Low Category High PRHYX Rank Quintile
Max Redemption Fee 2.00% 1.00% 2.00% 0.60% 3

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRHYX Fees (% of AUM) Category Low Category High PRHYX Rank Quintile
Turnover 68.40% 7.20% 2247.00% 7.68% 4

PRHYX - Distributions

Dividend Yield Analysis

PRHYX Category Low Category High PRHYX % Rank Quintile
Dividend Yield 0.5% 0.00% 6.16% 28.30% 3

Dividend Distribution Analysis

PRHYX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PRHYX Category Low Category High PRHYX % Rank Quintile
Net Income Ratio 6.03% -2.75% 8.95% 9.52% 1

Capital Gain Distribution Analysis

PRHYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

PRHYX - Managers

Mark J. Vaselkiv

Lead Manager

Start Date

Jun 30, 1996

Tenure

20.1

Tenure Rank

0.5%

Mark Vaselkiv is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company. He is a portfolio manager in the Fixed Income Division and head of the High Yield team. Mark is a member of both the Fixed Income Steering Committee and the firm's Asset Allocation Committee. He is president and chairman of the Investment Advisory Committee of the High Yield Fund. Prior to joining T. Rowe Price in 1988, Mark was employed as a vice president for Shenkman Capital Management, Inc., New York, analyzing and trading high yield debt securities, and as a private placement credit analyst in the Capital Markets Group of Prudential Insurance Company. He earned a B.A. in political science from Wheaton College, Illinois, and an M.B.A. in finance from New York University, Leonard N. Stern School of Business.


Tenure Analysis

Category Low

0.0

Category High

56.2

Category Average

6.26

Category Mode

1.6