Morningstar

T. Rowe Price Institutional High Yield Fund TRHYX

Medalist Rating as of Jun 18, 2026 See T. Rowe Price Investment Hub

Strategy

The investment seeks high current income and, secondarily, capital appreciation. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) 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 credit rating agency but deemed to be below investment grade.

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
TRHYX	T. Rowe Price Institutional High Yield Fund	Institutional	Open			May 31, 2002	$1.61B	0.500%	Low	$1M	−$126.62M

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