Address And Details
100 E Pratt Street , Baltimore, MD 21202 | |
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Fund Manager | Rodney Rayburn |
Manager Tenure | 3 Years 4 Months |
Strategy And Objective
The fund seeks high current income and, secondarily, capital appreciation. The fund will normally invest at least 80% of its net assets (including 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 major credit rating agency but deemed to be below investment grade by T. Rowe Price. If a holding is split rated (i.e., rated investment grade by at least one rating agency and below investment grade by another rating agency), the lower rating will be used for purposes of the funds 80% investment policy. High yield bonds are rated below investment grade (BB and lower, or an equivalent rating), and tend to provide high income in an effort to compensate investors for their higher risk of default, which is the failure to make required interest or principal payments. High yield bond issuers include small or relatively new companies lacking the history or capital to merit investment grade status, former blue chip companies downgraded because of financial problems, companies electing to borrow heavily to finance or avoid a takeover or buyout, and firms with heavy debt loads.
Equity Sector Breakdown
ConsumerDurables | n/a | |
Energy | n/a | |
Finance | n/a | |
Health | n/a | |
IndustrialCyclical | n/a | |
NonDurables | n/a | |
RetailTrade | n/a | |
Services | n/a | |
Technology | n/a | |
Utilities | n/a |
Asset Allocation
Asset Type | % Of Allocation | |
---|---|---|
Bonds | 95.24% | |
Convertible | 3.52% | |
Stocks | 0.64% | |
Cash | 0.60% | |
Preferred | 0.00% | |
ForeignStocks | 0.00% | |
ForeignBonds | 0.00% | |
ForeignHedged | 0.00% | |
Other | -0.01% |
Total Net Assets | 2.32 B |
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Risk Measures
Criteria | 3 Years | 5 Years | 10 Years |
---|---|---|---|
Alpha | 2.19 | 2.10 | 3.68 |
Beta | 0.81 | 0.67 | 0.60 |
R Squared | 0.15 | 0.12 | 0.10 |
Std Deviation | 9.41 | 7.69 | 6.52 |
Sharpe Ratio | 0.22 | 0.29 | n/a |
Purchase Information
as of 5:53 PM ET 05/17/2022Minimum Initial | $2500 |
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Minimum Additional | $100 |
Minimum Initial IRA | $1000 |
Performance
Timeframe | Average Annual Current Performance Monthly As Of 04/30/2022 | Average Annual Current Performance Quarterly As Of 03/31/2022 | Avg Annual Current Performance Monthly As Of 04/30/2022 | Avg Annual Current Performance Quarterly As Of 03/31/2022 |
---|---|---|---|---|
1 Year |
|
|
-4.77% | -0.09% |
3 Year |
|
|
+2.56% | +4.33% |
10 Year |
|
|
+4.92% | +5.39% |
Life Of Fund |
|
|
+7.64% | +7.76% |