Shareholder Report
|
12 Months Ended |
|
May 31, 2026
USD ($)
Holding
|
|---|
| Shareholder Report [Line Items] |
|
| Document Type |
N-CSR
|
| Amendment Flag |
false
|
| Registrant Name |
T. ROWE PRICE HIGH YIELD FUND, INC.
|
| Entity Central Index Key |
0000754915
|
| Entity Investment Company Type |
N-1A
|
| Document Period End Date |
May 31, 2026
|
| Shareholder Report Annual or Semi-Annual |
Annual Shareholder Report
|
| C000005524 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
High Yield Fund
|
| Class Name |
Investor Class
|
| Trading Symbol |
PRHYX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about High Yield Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
|
| Material Fund Change Notice [Text Block] |
|
| Additional Information Phone Number |
1‑800‑638‑5660
|
| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
|
| Additional Information Website |
www.troweprice.com/prospectus
|
| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
|
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
High Yield Fund - Investor Class |
$73 |
0.70% | |
| Expenses Paid, Amount |
$ 73
|
| Expense Ratio, Percent |
0.70%
|
| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?The high yield market posted solid gains in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and strong equity returns supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Bloomberg U.S. High Yield 2% Issuer Capped Bond Index, credit selection in the energy industry contributed, partly due to liquefied natural gas (LNG) company Venture Global. Higher overseas LNG prices amid supply disruptions due to the Middle East conflict aided the issuer’s performance. Avoiding troubled issuers that underperformed, including luxury retail company Saks Global and global label solutions provider Multi-Color, added value. Relative to the style-specific benchmark, credit selection among cable operators detracted, partly due to Optimum (formerly known as Altice USA). Cable companies have faced intense competition from fiber technology and fixed wireless providers. Liability management exercise risk was also a performance headwind for Optimum. Selection in the services segment weighed, partly due to the underperformance of Sabre, a technology solutions provider to the global travel and tourism industry. The fund seeks to provide high current income and some capital appreciation through the identification of issues with above-average yield and the potential for price improvement. Over the past year, we augmented the fund’s allocation to the utilities segment, which we view as one of the most attractive and defensive industries in a slowing economy.
|
| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
|
| Line Graph [Table Text Block] |
Table Summary
|
Investor Class |
Regulatory Benchmark |
Strategy Benchmark |
2016 |
10,000 |
10,000 |
10,000 |
2016 |
10,476 |
10,232 |
10,582 |
2016 |
10,549 |
9,908 |
10,643 |
2017 |
11,042 |
10,008 |
11,156 |
2017 |
11,246 |
10,158 |
11,357 |
2017 |
11,384 |
10,283 |
11,494 |
2017 |
11,503 |
10,227 |
11,617 |
2018 |
11,488 |
10,059 |
11,622 |
2018 |
11,428 |
10,120 |
11,624 |
2018 |
11,604 |
10,175 |
11,885 |
2018 |
11,385 |
10,089 |
11,659 |
2019 |
11,829 |
10,378 |
12,123 |
2019 |
12,044 |
10,768 |
12,264 |
2019 |
12,471 |
11,210 |
12,665 |
2019 |
12,598 |
11,178 |
12,787 |
2020 |
12,573 |
11,590 |
12,863 |
2020 |
12,148 |
11,781 |
12,424 |
2020 |
12,842 |
11,936 |
13,254 |
2020 |
13,219 |
11,992 |
13,704 |
2021 |
13,520 |
11,750 |
14,060 |
2021 |
13,736 |
11,734 |
14,276 |
2021 |
14,028 |
11,925 |
14,597 |
2021 |
13,866 |
11,854 |
14,426 |
2022 |
13,654 |
11,440 |
14,149 |
2022 |
13,018 |
10,769 |
13,523 |
2022 |
12,550 |
10,552 |
13,049 |
2022 |
12,616 |
10,332 |
13,135 |
2023 |
12,918 |
10,328 |
13,378 |
2023 |
12,995 |
10,538 |
13,530 |
2023 |
13,470 |
10,426 |
13,987 |
2023 |
13,771 |
10,454 |
14,276 |
2024 |
14,257 |
10,671 |
14,851 |
2024 |
14,427 |
10,676 |
15,049 |
2024 |
15,022 |
11,187 |
15,739 |
2024 |
15,290 |
11,173 |
16,090 |
2025 |
15,521 |
11,291 |
16,349 |
2025 |
15,677 |
11,258 |
16,451 |
2025 |
16,183 |
11,538 |
17,039 |
2025 |
16,391 |
11,809 |
17,305 |
2026 |
16,621 |
11,998 |
17,524 |
2026 |
16,841 |
11,836 |
17,696 |
|
| Average Annual Return [Table Text Block] |
Table Summary
|
1 Year |
5 Years |
10 Years |
High Yield Fund (Investor Class) |
7.43% |
4.16% |
5.35% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
1.70 |
Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) |
7.57 |
4.39 |
5.87 | |
| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
|
| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
|
| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
|
| AssetsNet |
$ 6,371,199,000
|
| Holdings Count | Holding |
437
|
| Advisory Fees Paid, Amount |
$ 19,125,000
|
| InvestmentCompanyPortfolioTurnover |
42.30%
|
| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$6,371,199
- Number of Portfolio Holdings437
|
| Holdings [Text Block] |
Table Summary
Corporate Bonds |
91.0% |
Bank Loans |
3.5 |
Securities Lending Collateral |
3.1 |
Convertible Preferred Stocks |
0.8 |
Preferred Stocks |
0.8 |
Municipal Securities |
0.5 |
Common Stocks |
0.3 |
Convertible Bonds |
0.2 |
Short-Term and Other |
-0.2 | |
| Largest Holdings [Text Block] |
Table Summary
TransDigm |
2.5% |
Navient |
1.7 |
CCO Holdings |
1.5 |
LifePoint Health |
1.4 |
Vistra |
1.4 |
Jane Street Group |
1.3 |
Tenet Healthcare |
1.1 |
Acrisure |
1.1 |
Level 3 Financing |
1.1 |
Asurion |
1.1 | |
| Material Fund Change [Text Block] |
|
| Updated Prospectus Web Address |
www.troweprice.com/paperless
|
| C000005525 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
High Yield Fund
|
| Class Name |
Advisor Class
|
| Trading Symbol |
PAHIX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about High Yield Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
|
| Material Fund Change Notice [Text Block] |
|
| Additional Information Phone Number |
1‑800‑638‑5660
|
| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
|
| Additional Information Website |
www.troweprice.com/prospectus
|
| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
|
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
High Yield Fund - Advisor Class |
$106 |
1.02% | |
| Expenses Paid, Amount |
$ 106
|
| Expense Ratio, Percent |
1.02%
|
| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?The high yield market posted solid gains in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and strong equity returns supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Bloomberg U.S. High Yield 2% Issuer Capped Bond Index, credit selection in the energy industry contributed, partly due to liquefied natural gas (LNG) company Venture Global. Higher overseas LNG prices amid supply disruptions due to the Middle East conflict aided the issuer’s performance. Avoiding troubled issuers that underperformed, including luxury retail company Saks Global and global label solutions provider Multi-Color, added value. Relative to the style-specific benchmark, credit selection among cable operators detracted, partly due to Optimum (formerly known as Altice USA). Cable companies have faced intense competition from fiber technology and fixed wireless providers. Liability management exercise risk was also a performance headwind for Optimum. Selection in the services segment weighed, partly due to the underperformance of Sabre, a technology solutions provider to the global travel and tourism industry. The fund seeks to provide high current income and some capital appreciation through the identification of issues with above-average yield and the potential for price improvement. Over the past year, we augmented the fund’s allocation to the utilities segment, which we view as one of the most attractive and defensive industries in a slowing economy.
|
| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
|
| Line Graph [Table Text Block] |
Table Summary
|
Advisor Class |
Regulatory Benchmark |
Strategy Benchmark |
2016 |
10,000 |
10,000 |
10,000 |
2016 |
10,475 |
10,232 |
10,582 |
2016 |
10,544 |
9,908 |
10,643 |
2017 |
11,035 |
10,008 |
11,156 |
2017 |
11,233 |
10,158 |
11,357 |
2017 |
11,382 |
10,283 |
11,494 |
2017 |
11,475 |
10,227 |
11,617 |
2018 |
11,471 |
10,059 |
11,622 |
2018 |
11,384 |
10,120 |
11,624 |
2018 |
11,552 |
10,175 |
11,885 |
2018 |
11,324 |
10,089 |
11,659 |
2019 |
11,760 |
10,378 |
12,123 |
2019 |
11,965 |
10,768 |
12,264 |
2019 |
12,382 |
11,210 |
12,665 |
2019 |
12,518 |
11,178 |
12,787 |
2020 |
12,464 |
11,590 |
12,863 |
2020 |
12,035 |
11,781 |
12,424 |
2020 |
12,715 |
11,936 |
13,254 |
2020 |
13,073 |
11,992 |
13,704 |
2021 |
13,361 |
11,750 |
14,060 |
2021 |
13,586 |
11,734 |
14,276 |
2021 |
13,845 |
11,925 |
14,597 |
2021 |
13,674 |
11,854 |
14,426 |
2022 |
13,454 |
11,440 |
14,149 |
2022 |
12,815 |
10,769 |
13,523 |
2022 |
12,365 |
10,552 |
13,049 |
2022 |
12,420 |
10,332 |
13,135 |
2023 |
12,687 |
10,328 |
13,378 |
2023 |
12,775 |
10,538 |
13,530 |
2023 |
13,232 |
10,426 |
13,987 |
2023 |
13,516 |
10,454 |
14,276 |
2024 |
13,983 |
10,671 |
14,851 |
2024 |
14,113 |
10,676 |
15,049 |
2024 |
14,707 |
11,187 |
15,739 |
2024 |
14,933 |
11,173 |
16,090 |
2025 |
15,172 |
11,291 |
16,349 |
2025 |
15,286 |
11,258 |
16,451 |
2025 |
15,794 |
11,538 |
17,039 |
2025 |
15,958 |
11,809 |
17,305 |
2026 |
16,168 |
11,998 |
17,524 |
2026 |
16,370 |
11,836 |
17,696 |
|
| Average Annual Return [Table Text Block] |
Table Summary
|
1 Year |
5 Years |
10 Years |
High Yield Fund (Advisor Class) |
7.09% |
3.80% |
5.05% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
1.70 |
Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) |
7.57 |
4.39 |
5.87 | |
| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
|
| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
|
| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
|
| AssetsNet |
$ 6,371,199,000
|
| Holdings Count | Holding |
437
|
| Advisory Fees Paid, Amount |
$ 19,125,000
|
| InvestmentCompanyPortfolioTurnover |
42.30%
|
| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$6,371,199
- Number of Portfolio Holdings437
|
| Holdings [Text Block] |
Table Summary
Corporate Bonds |
91.0% |
Bank Loans |
3.5 |
Securities Lending Collateral |
3.1 |
Convertible Preferred Stocks |
0.8 |
Preferred Stocks |
0.8 |
Municipal Securities |
0.5 |
Common Stocks |
0.3 |
Convertible Bonds |
0.2 |
Short-Term and Other |
-0.2 | |
| Largest Holdings [Text Block] |
Table Summary
TransDigm |
2.5% |
Navient |
1.7 |
CCO Holdings |
1.5 |
LifePoint Health |
1.4 |
Vistra |
1.4 |
Jane Street Group |
1.3 |
Tenet Healthcare |
1.1 |
Acrisure |
1.1 |
Level 3 Financing |
1.1 |
Asurion |
1.1 | |
| Material Fund Change [Text Block] |
|
| Updated Prospectus Web Address |
www.troweprice.com/paperless
|
| C000159675 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
High Yield Fund
|
| Class Name |
I Class
|
| Trading Symbol |
PRHIX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about High Yield Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
|
| Material Fund Change Notice [Text Block] |
|
| Additional Information Phone Number |
1‑800‑638‑5660
|
| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
|
| Additional Information Website |
www.troweprice.com/prospectus
|
| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
|
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
High Yield Fund - I Class |
$64 |
0.62% | |
| Expenses Paid, Amount |
$ 64
|
| Expense Ratio, Percent |
0.62%
|
| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?The high yield market posted solid gains in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and strong equity returns supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Bloomberg U.S. High Yield 2% Issuer Capped Bond Index, credit selection in the energy industry contributed, partly due to liquefied natural gas (LNG) company Venture Global. Higher overseas LNG prices amid supply disruptions due to the Middle East conflict aided the issuer’s performance. Avoiding troubled issuers that underperformed, including luxury retail company Saks Global and global label solutions provider Multi-Color, added value. Relative to the style-specific benchmark, credit selection among cable operators detracted, partly due to Optimum (formerly known as Altice USA). Cable companies have faced intense competition from fiber technology and fixed wireless providers. Liability management exercise risk was also a performance headwind for Optimum. Selection in the services segment weighed, partly due to the underperformance of Sabre, a technology solutions provider to the global travel and tourism industry. The fund seeks to provide high current income and some capital appreciation through the identification of issues with above-average yield and the potential for price improvement. Over the past year, we augmented the fund’s allocation to the utilities segment, which we view as one of the most attractive and defensive industries in a slowing economy.
|
| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
|
| Line Graph [Table Text Block] |
Table Summary
|
I Class |
Regulatory Benchmark |
Strategy Benchmark |
2016 |
500,000 |
500,000 |
500,000 |
2016 |
524,014 |
511,616 |
529,087 |
2016 |
527,774 |
495,403 |
532,132 |
2017 |
552,625 |
500,416 |
557,813 |
2017 |
562,998 |
507,893 |
567,869 |
2017 |
570,114 |
514,136 |
574,717 |
2017 |
576,226 |
511,326 |
580,856 |
2018 |
575,706 |
502,944 |
581,124 |
2018 |
572,841 |
505,990 |
581,214 |
2018 |
581,869 |
508,741 |
594,266 |
2018 |
571,028 |
504,464 |
582,957 |
2019 |
593,486 |
518,886 |
606,168 |
2019 |
604,399 |
538,376 |
613,194 |
2019 |
626,019 |
560,492 |
633,228 |
2019 |
632,540 |
558,902 |
639,370 |
2020 |
631,446 |
579,506 |
643,128 |
2020 |
610,339 |
589,067 |
621,224 |
2020 |
645,359 |
596,775 |
662,675 |
2020 |
664,448 |
599,611 |
685,204 |
2021 |
679,739 |
587,524 |
702,997 |
2021 |
691,858 |
586,682 |
713,815 |
2021 |
705,713 |
596,272 |
729,844 |
2021 |
697,748 |
592,695 |
721,315 |
2022 |
687,243 |
571,989 |
707,467 |
2022 |
655,394 |
538,444 |
676,157 |
2022 |
633,076 |
527,606 |
652,437 |
2022 |
635,412 |
516,596 |
656,725 |
2023 |
650,787 |
516,381 |
668,880 |
2023 |
654,779 |
526,907 |
676,479 |
2023 |
680,037 |
521,310 |
699,335 |
2023 |
694,135 |
522,690 |
713,802 |
2024 |
718,814 |
533,562 |
742,546 |
2024 |
727,516 |
533,786 |
752,445 |
2024 |
757,604 |
559,349 |
786,948 |
2024 |
771,290 |
558,625 |
804,508 |
2025 |
783,131 |
564,552 |
817,475 |
2025 |
791,159 |
562,924 |
822,543 |
2025 |
816,834 |
576,891 |
851,962 |
2025 |
827,537 |
590,474 |
865,246 |
2026 |
839,295 |
599,896 |
876,196 |
2026 |
850,568 |
591,821 |
884,805 |
|
| Average Annual Return [Table Text Block] |
Table Summary
|
1 Year |
5 Years |
10 Years |
High Yield Fund (I Class) |
7.51% |
4.22% |
5.46% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
1.70 |
Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) |
7.57 |
4.39 |
5.87 | |
| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
|
| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
|
| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
|
| AssetsNet |
$ 6,371,199,000
|
| Holdings Count | Holding |
437
|
| Advisory Fees Paid, Amount |
$ 19,125,000
|
| InvestmentCompanyPortfolioTurnover |
42.30%
|
| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$6,371,199
- Number of Portfolio Holdings437
|
| Holdings [Text Block] |
Table Summary
Corporate Bonds |
91.0% |
Bank Loans |
3.5 |
Securities Lending Collateral |
3.1 |
Convertible Preferred Stocks |
0.8 |
Preferred Stocks |
0.8 |
Municipal Securities |
0.5 |
Common Stocks |
0.3 |
Convertible Bonds |
0.2 |
Short-Term and Other |
-0.2 | |
| Largest Holdings [Text Block] |
Table Summary
TransDigm |
2.5% |
Navient |
1.7 |
CCO Holdings |
1.5 |
LifePoint Health |
1.4 |
Vistra |
1.4 |
Jane Street Group |
1.3 |
Tenet Healthcare |
1.1 |
Acrisure |
1.1 |
Level 3 Financing |
1.1 |
Asurion |
1.1 | |
| Material Fund Change [Text Block] |
|
| Updated Prospectus Web Address |
www.troweprice.com/paperless
|
| C000219342 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
High Yield Fund
|
| Class Name |
Z Class
|
| Trading Symbol |
TRKZX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about High Yield Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
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| Material Fund Change Notice [Text Block] |
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| Additional Information Phone Number |
1‑800‑638‑5660
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| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
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| Additional Information Website |
www.troweprice.com/prospectus
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| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
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Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
High Yield Fund - Z Class |
$0 |
0.00% | |
| Expenses Paid, Amount |
$ 0
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| Expense Ratio, Percent |
0.00%
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| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?The high yield market posted solid gains in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and strong equity returns supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Bloomberg U.S. High Yield 2% Issuer Capped Bond Index, credit selection in the energy industry contributed, partly due to liquefied natural gas (LNG) company Venture Global. Higher overseas LNG prices amid supply disruptions due to the Middle East conflict aided the issuer’s performance. Avoiding troubled issuers that underperformed, including luxury retail company Saks Global and global label solutions provider Multi-Color, added value. Relative to the style-specific benchmark, credit selection among cable operators detracted, partly due to Optimum (formerly known as Altice USA). Cable companies have faced intense competition from fiber technology and fixed wireless providers. Liability management exercise risk was also a performance headwind for Optimum. Selection in the services segment weighed, partly due to the underperformance of Sabre, a technology solutions provider to the global travel and tourism industry. The fund seeks to provide high current income and some capital appreciation through the identification of issues with above-average yield and the potential for price improvement. Over the past year, we augmented the fund’s allocation to the utilities segment, which we view as one of the most attractive and defensive industries in a slowing economy.
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| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
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| Line Graph [Table Text Block] |
Table Summary
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Z Class |
Regulatory Benchmark |
Strategy Benchmark |
3/16/20 |
10,000 |
10,000 |
10,000 |
5/31/20 |
10,893 |
10,215 |
10,773 |
8/31/20 |
11,535 |
10,349 |
11,491 |
11/30/20 |
11,894 |
10,398 |
11,882 |
2/28/21 |
12,186 |
10,188 |
12,191 |
5/31/21 |
12,421 |
10,173 |
12,378 |
8/31/21 |
12,708 |
10,340 |
12,656 |
11/30/21 |
12,583 |
10,278 |
12,508 |
2/28/22 |
12,412 |
9,919 |
12,268 |
5/31/22 |
11,856 |
9,337 |
11,725 |
8/31/22 |
11,451 |
9,149 |
11,314 |
11/30/22 |
11,531 |
8,958 |
11,388 |
2/28/23 |
11,807 |
8,954 |
11,599 |
5/31/23 |
11,919 |
9,137 |
11,731 |
8/31/23 |
12,376 |
9,040 |
12,127 |
11/30/23 |
12,674 |
9,064 |
12,378 |
2/29/24 |
13,145 |
9,252 |
12,876 |
5/31/24 |
13,302 |
9,256 |
13,048 |
8/31/24 |
13,897 |
9,700 |
13,646 |
11/30/24 |
14,146 |
9,687 |
13,951 |
2/28/25 |
14,410 |
9,790 |
14,176 |
5/31/25 |
14,555 |
9,762 |
14,264 |
8/31/25 |
15,051 |
10,004 |
14,774 |
11/30/25 |
15,271 |
10,239 |
15,004 |
2/28/26 |
15,512 |
10,403 |
15,194 |
5/31/26 |
15,745 |
10,263 |
15,343 |
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| Average Annual Return [Table Text Block] |
Table Summary
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1 Year |
5 Years |
Since Inception 3/16/20 |
High Yield Fund (Z Class) |
8.18% |
4.86% |
7.59% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
0.42 |
Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) |
7.57 |
4.39 |
7.14 | |
| Performance Inception Date |
Mar. 16, 2020
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| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
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| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
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| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
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| AssetsNet |
$ 6,371,199,000
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| Holdings Count | Holding |
437
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| Advisory Fees Paid, Amount |
$ 19,125,000
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| InvestmentCompanyPortfolioTurnover |
42.30%
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| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$6,371,199
- Number of Portfolio Holdings437
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| Holdings [Text Block] |
Table Summary
Corporate Bonds |
91.0% |
Bank Loans |
3.5 |
Securities Lending Collateral |
3.1 |
Convertible Preferred Stocks |
0.8 |
Preferred Stocks |
0.8 |
Municipal Securities |
0.5 |
Common Stocks |
0.3 |
Convertible Bonds |
0.2 |
Short-Term and Other |
-0.2 | |
| Largest Holdings [Text Block] |
Table Summary
TransDigm |
2.5% |
Navient |
1.7 |
CCO Holdings |
1.5 |
LifePoint Health |
1.4 |
Vistra |
1.4 |
Jane Street Group |
1.3 |
Tenet Healthcare |
1.1 |
Acrisure |
1.1 |
Level 3 Financing |
1.1 |
Asurion |
1.1 | |
| Material Fund Change [Text Block] |
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| Updated Prospectus Web Address |
www.troweprice.com/paperless
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