PRHYX: T. Rowe Price High Yield

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PRHYX T. Rowe Price High Yield

  • Fund
  • PRHYX
  • Price as of: Dec 04, 2019
  • $6.60
    + $0.01 + 0.15%

Profile

PRHYX - Profile

Vitals

  • YTD Return 7.1%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return -0.8%
  • Net Assets $8.3 B
  • Holdings in Top 10 10.6%

52 WEEK LOW AND HIGH

$6.60
$6.13
$6.64

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.72%

SALES FEES

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

BROKERAGE FEES

  • Turnover 60.60%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

Closed to new investors as of Apr 30, 2012
  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 7.1%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.95%
DIVIDENDS
  • Dividend Yield 1.9%
  • 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.


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Categories

Fund Company Quick Screens

PRHYX - Fund Company Quick Screens


Performance

PRHYX - Performance

Return Ranking - Trailing

Period PRHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -8.4% 12.9% 27.96%
1 Yr 4.4% -12.5% 14.0% 26.60%
3 Yr 0.1%* -6.8% 8.6% 47.18%
5 Yr -0.8%* -8.0% 6.6% 40.91%
10 Yr 0.5%* -5.8% 10.3% 44.88%

* Annualized

Return Ranking - Calendar

Period PRHYX Return Category Return Low Category Return High Rank in Category (%)
2018 -8.9% -13.5% 0.0% 59.26%
2017 1.7% -9.5% 6.3% 49.80%
2016 7.6% -0.8% 28.6% 50.64%
2015 -8.8% -34.3% 3.5% 40.00%
2014 -5.2% -23.1% 2.6% 53.72%

Total Return Ranking - Trailing

Period PRHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -8.4% 12.9% 29.39%
1 Yr 4.4% -12.5% 15.0% 34.04%
3 Yr 0.1%* -6.8% 8.6% 58.06%
5 Yr -0.8%* -7.3% 6.6% 57.58%
10 Yr 0.5%* -2.1% 10.3% 62.99%

* Annualized

Total Return Ranking - Calendar

Period PRHYX Return Category Return Low Category Return High Rank in Category (%)
2018 -8.9% -13.5% 1.3% 70.74%
2017 1.7% -8.5% 10.1% 58.78%
2016 7.6% -0.8% 39.0% 61.37%
2015 -8.8% -32.4% 3.5% 44.00%
2014 -5.2% -21.8% 7.9% 69.15%

NAV & Total Return History


Holdings

PRHYX - Holdings

Concentration Analysis

PRHYX Category Low Category High PRHYX % Rank
Net Assets 8.3 B 1.85 M 11.9 B 3.89%
Number of Holdings 445 2 1544 28.67%
Net Assets in Top 10 880 M -115 M 18.9 B 4.90%
Weighting of Top 10 10.62% 0.0% 3643.4% 70.98%

Top 10 Holdings

  1. United States Treasury Notes 2.12% 1.77%
  2. AVANTOR INC 9% 1.58%
  3. Asurion 1.54%
  4. Sprint Corporation 7.12% 1.12%
  5. NRG Energy, Inc. 7.25% 0.82%
  6. Altice SA 7.62% 0.81%
  7. Targa Resources Co 9.5% 0.79%
  8. Financial & Risk US Holdings Inc 8.25% 0.74%
  9. Intelsat Jackson Holdings, Ltd. 9.5% 0.74%
  10. CCO Holdings, LLC/ CCO Holdings Capital Corp. 5% 0.72%

Asset Allocation

Weighting Return Low Return High PRHYX % Rank
Bonds
91.11% 0.00% 144.59% 67.13%
Cash
4.87% -41.76% 100.41% 43.36%
Preferred Stocks
1.56% -0.06% 11.64% 10.84%
Stocks
1.47% -1.32% 23.81% 26.22%
Convertible Bonds
0.98% 0.00% 35.95% 43.01%
Other
0.00% -48.58% 45.76% 52.80%

Stock Sector Breakdown

Weighting Return Low Return High PRHYX % Rank
Utilities
0.80% 0.00% 5.58% 5.68%
Consumer Cyclical
0.26% 0.00% 5.07% 27.07%
Energy
0.18% 0.00% 10.38% 25.33%
Communication Services
0.13% 0.00% 3.87% 12.66%
Basic Materials
0.10% 0.00% 1.30% 27.07%
Technology
0.00% 0.00% 4.83% 36.68%
Real Estate
0.00% 0.00% 7.83% 31.44%
Industrials
0.00% 0.00% 3.84% 54.59%
Healthcare
0.00% 0.00% 3.09% 39.74%
Financial Services
0.00% 0.00% 4.16% 47.16%
Consumer Defense
0.00% 0.00% 1.77% 31.44%

Stock Geographic Breakdown

Weighting Return Low Return High PRHYX % Rank
US
1.47% -1.32% 18.18% 22.38%
Non US
0.00% 0.00% 8.41% 47.90%

Bond Sector Breakdown

Weighting Return Low Return High PRHYX % Rank
Corporate
91.64% 0.00% 3345.86% 46.15%
Cash & Equivalents
4.87% -41.82% 100.41% 41.26%
Government
1.96% -3298.93% 98.94% 30.42%
Securitized
0.09% 0.00% 88.21% 51.40%
Municipal
0.00% 0.00% 18.25% 26.92%
Derivative
-0.05% -19.77% 23.34% 90.91%

Bond Geographic Breakdown

Weighting Return Low Return High PRHYX % Rank
US
72.06% -233.75% 101.20% 39.16%
Non US
19.05% 0.00% 280.68% 62.24%

Expenses

PRHYX - Expenses

Operational Fees

PRHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.00% 33.95% 87.46%
Management Fee 0.59% 0.00% 1.84% 41.40%
12b-1 Fee 0.00% 0.00% 1.00% 4.97%
Administrative Fee 0.15% 0.00% 0.50% 70.87%

Sales Fees

PRHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PRHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.00% 2.00% 8.33%

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 Return Low Category Return High Rank in Category (%)
Turnover 60.60% 5.00% 1334.00% 64.41%

Distributions

PRHYX - Distributions

Dividend Yield Analysis

PRHYX Category Low Category High PRHYX % Rank
Dividend Yield 1.92% 0.00% 6.70% 47.75%

Dividend Distribution Analysis

PRHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PRHYX Category Low Category High PRHYX % Rank
Net Income Ratio 5.95% -0.65% 8.97% 17.20%

Capital Gain Distribution Analysis

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

Dividend Payout History

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Fund Manager Analysis

PRHYX - Fund Manager Analysis

Managers

Mark J. Vaselkiv


Start Date

Tenure

Tenure Rank

Jun 30, 1996

23.35

23.4%

Mark Vaselkiv is chief investment officer of Fixed Income at T. Rowe Price. He is lead portfolio manager of the firm's Global High Yield and Global High Income Strategies as well as head of the Global High Yield team in the Fixed Income Division. He is additionally a member of both the Fixed Income Steering Committee and the firm's Asset Allocation Committee. Mr. Vaselkiv is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company. He started at the firm in 1988 as a high yield corporate credit analyst with a special focus on forest products and gaming and was appointed to the high yield portfolio management team in 1996. He began his investment career in 1984 as a credit analyst for Prudential Insurance Company. In 1986, he became a credit analyst and vice president at Shenkman Capital Management. Mr. Vaselkiv 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.

Rodney M. Rayburn


Start Date

Tenure

Tenure Rank

Jan 14, 2019

0.79

0.8%

Rodney Rayburn is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc., and a portfolio manager in the Fixed Income Division. He is president and chairman of the Investment Advisory Committee of the Credit Opportunities Fund. Prior to joining T. Rowe Price in 2014, Rodney spent five years as a managing director at Värde Partners in Minneapolis, where he was actively involved in performing and nonperforming loans, bonds, and reorganized equities across a variety of industries. Prior to that, he was a senior investment analyst at Stark Investments in Milwaukee. Rodney earned a B.S. in economics from the Georgia Institute of Technology and an M.B.A. in finance and economics from the University of Chicago Booth School of Business. He also has earned the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.0 30.27 5.73 2.0