Morningstar

T. Rowe Price High Yield Fund PRHYX

Morningstar Medalist Rating
Medalist Rating as of | See T. Rowe Price Investment Hub
  • NAV / 1-Day Return 5.71  /  +0.18 %
  • Total Assets 6.2B
  • Adj. Expense Ratio
    0.700%
  • Expense Ratio 0.700%
  • Distribution Fee Level Average
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low/Limited
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 6.94%
  • Effective Duration 2.92 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 10:54 PM GMT+0

Morningstar’s Analysis PRHYX

Will PRHYX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRHYX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PRHYX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PRHYX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Upcoming leadership changes temper our conviction.

Senior Analyst Elbie Louw

Elbie Louw

Senior Analyst

Summary

Upcoming leadership changes and related team adjustments lead to a downgrade of this strategy’s People Pillar rating to Average from Above Average.

by Elbie Louw
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings PRHYX

More PRHYX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 7.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

T. Rowe Price Gov. Reserve

2.88 183M
Cash and Equivalents

EchoStar Corp. 10.75%

0.90 57M
Corporate

Rivian Holdings Llc / Rivian Llc / Rivian Automotive Llc 10%

0.90 57M
Corporate

LifePoint Health, Inc 10%

0.85 54M
Corporate

1261229 Bc Ltd. 10%

0.80 51M
Corporate

Carvana Co 9%

0.76 49M
Corporate

TransDigm, Inc. 6.875%

0.76 48M
Corporate

Hopper Merger Sub

0.70 44M
Corporate

Vistra Corp 8.875%

0.67 43M
Corporate

Venture Global LNG Inc. 9%

0.65 42M
Corporate

Sponsor Center