T. Rowe Price Institutional High Yield Fund (TRHYX) belongs to the High Yield Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with TRHYX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to TRHYX
TRHYX charges 0.50% annually. There are 14 mutual funds in the High Yield Bonds category with lower expense ratios, going as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | 0.02% | — | Dec 2008 | TRHYX vs FHYSX | |
| Vanguard High-Yield Corporate Fund Admiral Shares | 0.12% | 25.80B | Nov 2001 | TRHYX vs VWEAX | |
| PIA High Yield (MACS) Fund | 0.20% | — | Dec 2017 | TRHYX vs PIAMX | |
| Vanguard High-Yield Corporate Fund Investor Shares | 0.22% | 25.80B | Dec 1978 | TRHYX vs VWEHX | |
| Six Circles Credit Opportunities Fund | 0.29% | — | Nov 2020 | TRHYX vs CRDOX |
Best Risk-Adjusted Alternatives to TRHYX
TRHYX has a PortfoliosLab risk / return rank of 60. There are 119 mutual funds in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 100 | — | Dec 2014 | TRHYX vs XILSX | |
| Cliffwater Corporate Lending Fund | 100 | — | Mar 2019 | TRHYX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 100 | — | Sep 2010 | TRHYX vs RPHIX | |
| T. Rowe Price Floating Rate Fund | 97 | — | Jul 2011 | TRHYX vs PRFRX | |
| Penn Capital Short Duration High Income Fund | 96 | — | Jul 2017 | TRHYX vs PSHNX |
Top Performing TRHYX Alternatives (YTD)
TRHYX is at 1.28% YTD. There are 158 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 9.01%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 9.01% | — | Dec 2014 | TRHYX vs XILSX | |
| Fairholme Focused Income Fund | 8.37% | — | Dec 2009 | TRHYX vs FOCIX | |
| Fidelity Capital & Income Fund | 7.84% | — | Nov 1977 | TRHYX vs FAGIX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.10% | — | Oct 2018 | TRHYX vs FIQTX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.05% | — | Jul 1995 | TRHYX vs FAHCX |
Lowest Volatility Alternatives to TRHYX
TRHYX has 3.25% 1-year volatility. There are 92 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.86%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.86% | — | Mar 2019 | TRHYX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.86% | — | Sep 2010 | TRHYX vs RPHIX | |
| Chartwell Short Duration High Yield Fund | 1.50% | — | Jul 2014 | TRHYX vs CWFIX | |
| Shenkman Capital Short Duration High Income Fund | 1.63% | — | Oct 2012 | TRHYX vs SCFIX | |
| Osterweis Strategic Income Fund | 1.68% | — | Aug 2002 | TRHYX vs OSTIX |
Lowest Drawdown Alternatives to TRHYX
TRHYX has a 1-year max drawdown of -2.27%. There are 63 mutual funds in the High Yield Bonds category with shallower 1-year drawdowns, going as shallow as -0.10%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | -0.10% | — | Sep 2010 | TRHYX vs RPHIX | |
| Cliffwater Corporate Lending Fund | -0.19% | — | Mar 2019 | TRHYX vs CCLFX | |
| Pioneer ILS Interval Fund | -0.21% | — | Dec 2014 | TRHYX vs XILSX | |
| MainStay MacKay Short Duration High Yield Fund | -1.06% | — | Dec 2012 | TRHYX vs MDHVX | |
| Shenkman Capital Short Duration High Income Fund | -1.11% | — | Oct 2012 | TRHYX vs SCFIX |
Other Mutual Funds from T. Rowe Price
The 10 most viewed T. Rowe Price mutual funds shown here include TRBCX, PRWCX, PRDGX and span 6 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Blue Chip Growth Fund | Large Cap Growth Equities | 10 | 0.01% | — | Jun 1993 | TRHYX vs TRBCX | |
| T. Rowe Price Capital Appreciation Fund | Diversified Portfolio | 46 | 6.41% | — | Jun 1986 | TRHYX vs PRWCX | |
| T. Rowe Price Dividend Growth Fund, Inc. | Large Cap Blend Equities, Dividend | 49 | 9.38% | — | Dec 1992 | TRHYX vs PRDGX | |
| T. Rowe Price U.S. Equity Research Fund | Large Cap Blend Equities | 57 | 10.53% | — | Nov 1994 | TRHYX vs PRCOX | |
| T. Rowe Price All-Cap Opportunities Fund | Large Cap Growth Equities | 11 | 0.71% | — | Sep 1985 | TRHYX vs PRWAX | |
| T. Rowe Price Blue Chip Growth Fund I Class | Large Cap Growth Equities | 11 | 0.08% | — | — | TRHYX vs TBCIX | |
| T. Rowe Price Equity Index 500 Fund | Large Cap Blend Equities | 58 | 9.85% | — | Mar 1990 | TRHYX vs PREIX | |
| T. Rowe Price Large-Cap Growth Fund | Large Cap Growth Equities | 11 | 1.82% | — | Oct 2001 | TRHYX vs TRLGX | |
| T. Rowe Price Science And Technology Fund | Technology Equities | 74 | 33.10% | — | Sep 1987 | TRHYX vs PRSCX | |
| T. Rowe Price Retirement 2035 Fund | Target Retirement Date | 27 | 8.51% | — | Feb 2004 | TRHYX vs TRRJX |
Often Compared With TRHYX
Investors most often compare TRHYX with TRBUX, PRCPX, CPMPX. These 14 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare TRHYX with Any Fund or Stock
Compare TRHYX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair TRHYX with funds that move differently
T. Rowe Price Institutional High Yield Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to TRHYX.
Explore TRHYX Diversifiers