T. Rowe Price Institutional High Yield Fund (TRHYX)

Net Asset Value
1 Day
Overall Morningstar Rating
High yield bond
Style or Category
No Load
Sales Expenses
Expense Ratio
Morningstar Risk Rating™
Investment Objective The investment seeks high current income and, secondarily, capital appreciation. The fund normally invests 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 as below investment-grade or not rated by any major credit rating agency but deemed to be below investment-grade by T. Rowe Price. Its weighted average maturity generally is expected to be in the 5- to 10-year range.


1 month+1.11% 3 years+7.74%
3 months-1.06% 5 years+8.65%
1 year+2.44% Since inception+8.51%
Data through --

Peer Comparisonvs. High yield bond

Performance 5-yr return+8.65%+7.86%
Expense ratio0.50%1.12%
Risk 5 year sharpe ratio1.271.24
Net assets$2.2B$1.4B
Average market cap$12.3B$12.8B
Average P/E--20.2
Portfolio turnover59%59%

There are thousands of mutual funds to choose from. Get Money Magazine’s picks in all major categories.

Fund Management and Purchase Info

Fund familyT. Rowe Price
Fund manager & tenurePaul Karpers / 7 Years
Minimal initial investment$1,000,000.00
Minimum IRA investment--


Fixed income94.06%
U.S. stock1.49%
International stock0.20%
Top 5 Sectors
Portfolio weighting
Consumer goods 39.26%
Telecommunication 22.94%
Financial service 21.80%
Consumer service 8.23%
Energy 7.77%
Top 10 Holdings
Portfolio weighting
-- First Data 12.625%1.17%
-- Sprint 144A 7.125%0.93%
-- Univision Comms 144A 5.125%0.90%
-- Concho Res 5.5%0.74%
-- Cco Hldgs Llc / Cco Hldgs Cap 6.625%0.71%
-- Arqiva Broadcasting0.66%
-- Walter Invt Mgmt 144A 7.875%0.57%
-- Netflix 5.375%0.55%
-- Vpi Escrow 144A 6.375%0.55%
-- T Mobile Usa 6%0.49%

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.