Nasdaq - Delayed Quote USD

T. Rowe Price Instl High Yield (TRHYX)

7.62 -0.01 (-0.13%)
At close: 8:06 AM EDT

Fund Summary

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in a widely diversified portfolio of high yield corporate bonds, often called "junk" bonds, as well as income-producing convertible securities and preferred stocks that are rated below investment grade or not rated by any major credit rating agency but deemed to be below investment grade by T. Rowe Price.

T. Rowe Price Instl High Yield

Baltimore, MD 21202
100 East Pratt Street

Fund Overview

Category High Yield Bond
Fund Family T. Rowe Price
Net Assets 1.74B
YTD Return 0.86%
Yield 6.57%
Morningstar Rating
Inception Date May 31, 2002

Fund Operations

Last Dividend 0.13
Last Cap Gain -26.00
Holdings Turnover 30.40%
Average for Category --

Fees & Expenses

Expense TRHYX Category Average
Annual Report Expense Ratio (net) 0.50% 0.95%
Prospectus Net Expense Ratio 0.50% --
Prospectus Gross Expense Ratio 0.50% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 3.88%
Max Deferred Sales Load -- 1.28%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Rodney M. Rayburn, Lead Manager since January 14, 2019
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.

Morningstar Style Box

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Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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