T. Rowe Price U.S. High Yield Fund Investor Class
TUHYX
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USD
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Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Jun 6, 2017
- CIK
- 0000754915
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price U.S. High Yield Fund Investor Class (TUHYX) is an open-end mutual fund that seeks total return, and secondarily current income, by investing primarily in U.S. high yield corporate debt securities, including below-investment grade bonds (junk bonds). The fund normally allocates at least 80% of its net assets to high yield instruments rated below investment grade by major credit rating agencies or deemed equivalent by T. Rowe Price; it employs a disciplined, fundamental bottom-up credit selection process across the full capital structure spectrum, with flexibility to pursue total return opportunities in sectors such as corporate bonds, bank loans, and other fixed income assets. As of late 2025, the fund manages approximately $531 million in total assets, features an effective duration of 2.67 years, weighted average maturity of 7.44 years, and a portfolio turnover of 105%, with holdings across 96 issuers at an average dollar price of 98.43. The fund offers Investor Class shares with a net expense ratio of 0.75% (gross 0.80%, subject to a contractual limitation expiring July 31, 2027), a minimum initial investment of $2,500, and a TTM yield of around 7.42%; it benchmarks against the ICE BofA US High Yield Constrained Index and competes in the high yield bond category. T. Rowe Price U.S. High Yield Fund Investor Class operates within the financial services and asset management industry, targeting income-seeking investors such as individuals, institutions, and retirement accounts, with a focus on U.S. markets. Managed by portfolio manager Kevin Loome since 2013 (joining via the 2017 acquisition of Henderson High Yield Opportunities Fund, whose performance history the fund adopted upon its inception on May 19, 2017), the fund is part of T. Rowe Price Group, Inc., headquartered in Baltimore, Maryland. In a significant recent development, the fund completed the reorganization and merger with the New America High Income Fund, Inc. (NYSE: HYB) on March 31, 2025, under which HYB shareholders received Investor Class shares of TUHYX, enhancing the fund's asset base and aligning with T. Rowe Price's high yield strategy. This transaction followed customary closing conditions and reflects ongoing strategic consolidation in the high yield sector; additionally, T. Rowe Price has expanded its broader fixed income offerings, launching four new active ETFs in November 2025, including high income municipal and multi-sector income strategies, while pursuing partnerships like the September 2025 collaboration with Goldman Sachs for private-market products.