The vast resources backing the strategy, deep credit team, and consistent process drive its appeal. We reaffirm our People and Process pillar ratings of Above Average. Michael Della Vedova and Rodney Rayburn have steered this strategy, since 2015 and 2019, respectively. While Rayburn has a limited track record as portfolio manager of a high-yield strategy, his experience with distressed and special situations, the consistency of the team’s approach, and the quality of his supporting cast give us confidence. Della Vedova, who joined the firm in 2009, has built a solid track record managing the Luxembourg-domiciled European High Yield strategy since September 2011. The managers are well supported by an additional six global high-yield portfolio managers and a deep bench of 18 dedicated high-yield credit analysts.
T. Rowe Price High Yield I PRHIX
- NAV / 1-Day Return 5.99 / +0.05 %
- Total Assets 7.0 Bil
-
Adj. Expense Ratio
- Expense Ratio 0.620%
- Distribution Fee Level Below Average
- Share Class Type Institutional
- Category High Yield Bond
- Credit Quality / Interest Rate Sensitivity Low/Limited
- Min. Initial Investment 500,000
- Status Open
- TTM Yield 6.45%
- Effective Duration 3.40 years
USD | NAV as of Oct 04, 2024 | 1-Day Return as of Oct 04, 2024, 10:29 PM GMT+0
Morningstar’s Analysis PRHIX
Will PRHIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 8.7
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Cash Offsets For Shorts & Derivatives | 1.54 | 106.6 Mil | Cash and Equivalents |
Rivian Holdings Llc / Rivian Llc / Rivian Automotive Llc 11.35947% | 1.18 | 82.1 Mil | Corporate |
CCO Holdings, LLC/ CCO Holdings Capital Corp. 6.375% | 0.98 | 68.0 Mil | Corporate |
UKG Inc. 6.875% | 0.97 | 67.1 Mil | Corporate |
Asurion | 0.94 | 65.0 Mil | Corporate |
Cloud Software Group Inc. 9% | 0.91 | 63.0 Mil | Corporate |
T. Rowe Price Gov. Reserve | 0.85 | 59.3 Mil | Cash and Equivalents |
Venture Global LNG Inc. 8.375% | 0.85 | 58.7 Mil | Corporate |
Talen Energy Supply LLC 8.625% | 0.74 | 51.2 Mil | Corporate |
Truist Insurance Holdings | 0.72 | 50.1 Mil | Corporate |