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 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-1.55% 3 years+11.40%
3 months-1.70% 5 years+10.23%
1 year+8.18% Since inception+9.06%
Data through --

Peer Comparisonvs. High yield bond

Performance 5-yr return+10.23%+12.57%
Expense ratio0.50%1.13%
Risk 5 year sharpe ratio1.661.66
Net assets$2.5B$1.6B
Average market cap$16.1B$12.6B
Average P/E--21.0
Portfolio turnover59%59%

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Fund Management and Purchase Info

Fund familyT. Rowe Price
Fund manager & tenurePaul Karpers / 6 Years
Minimal initial investment$1,000,000.00
Minimum IRA investment--


Fixed income94.92%
U.S. stock1.65%
International stock0.52%
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
-- Sprint 144A 7.125%1.21%
-- First Data 12.625%0.98%
-- Univision Comms 144A 5.125%0.90%
-- Concho Res 5.5%0.73%
-- Cco Hldgs Llc / Cco Hldgs Cap 6.625%0.70%
-- Arqiva Broadcasting0.68%
-- Chesapeake Engy 5.75%0.57%
-- Cequel Comm Escrow I /Cap 144A 6.375%0.55%
-- Vpi Escrow 144A 6.375%0.54%
-- Walter Invt Mgmt 144A 7.875%0.51%

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