Morningstar

T. Rowe Price Institutional High Yield Fund TRHYX

Morningstar Medalist Rating
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Medalist Rating as of See T. Rowe Price Investment Hub
  • NAV / 1-Day Return $7.55  /  −0.13 %
  • Fund Size $1.6B
  • Adjusted Expense Ratio 0.500%
  • Net Expense Ratio 0.500%
  • Fee Level: Distribution Low
  • Share Class Type Institutional
  • Morningstar Category High Yield Bond
  • Fixed-Income Style Box (Funds) Low/Limited
  • Minimum Initial Investment $1M
  • Investment Status Open
  • TTM Yield 7.07%
  • Average Effective Duration 3.09 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis TRHYX

Will TRHYX 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 TRHYX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the TRHYX 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 TRHYX’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

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Portfolio Holdings TRHYX

More TRHYX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 7.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

T. Rowe Price Gov. Reserve

1.43 23M
Cash and Equivalents

EchoStar Corp. 10.75%

0.93 15M
Corporate

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

0.89 14M
Corporate

1261229 Bc Ltd. 10%

0.83 13M
Corporate

Carvana Co 9%

0.76 12M
Corporate

Vistra Corp 8.875%

0.76 12M
Corporate

LifePoint Health, Inc 10%

0.73 12M
Corporate

Hopper Merger Sub

0.72 12M
Corporate

Sword Purchaser LLC 8.25%

0.68 11M
Corporate

Navient Corporation 9.375%

0.66 11M
Corporate

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