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One of Our Favorite High-Yield Funds

Gold-rated T. Rowe Price High Yield has married rigorous bottom-up research and top-down macro views to generate great performance with modest volatility.


The following is our latest Fund Analyst Report for T. Rowe Price High Yield Fund (PRHYX). Morningstar Premium Members have access to full analyst reports such as this for more than 1,000 of the largest and best mutual funds. Not a Premium Member? Gain full access to our analyst reports and advanced tools immediately when you try Morningstar Premium free for 14 days.

T. Rowe Price High Yield has implemented the same value-driven process since manager Mark Vaselkiv took over in 1996. Rigorous bottoms-up credit selection has been successfully married with top-down macro analysis from T. Rowe Price's veteran investment committee members, all at a reasonable price. T. Rowe Price and Vaselkiv have a history of putting shareholders first, including by closing this fund to new investors in April 2012 (the second time during Vaselkiv's tenure). The fund retains its Morningstar Analyst Rating of Gold.

Cara Esser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.