PRHIX – T. Rowe Price High Yield I Investment Strategy | Morningstar

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Strategy

The investment seeks high current income and, secondarily, capital appreciation. The fund will normally invest at least 80% of its net assets 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. High yield bonds are rated below investment grade (BB and lower, or an equivalent rating), and tend to provide high income in an effort to compensate investors for their higher risk of default.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PRHYX	T. Rowe Price High Yield Fund	No Load	Open			Dec 31, 1984	$1.05B	0.700%	Average	$2,500	−$186.00M
PAHIX	T. Rowe Price High Yield Fund Advisor Class	No Load	Open			Mar 31, 2000	$11.74M	1.040%	High	$2,500	−$3.20M
PRHIX	T. Rowe Price High Yield Fund I Class	Institutional	Open			Aug 28, 2015	$2.15B	0.620%	Below Average	$500,000	−$379.37M
TRKZX	T. Rowe Price High Yield Fund Z Class	Institutional	Open		—	Mar 16, 2020	$3.04B	0.000%	Low	$0	−$36.76M

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