Shareholder Report | 12 Months Ended |
May 31, 2024 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, 2024 |
C000219342 | |
Shareholder Report [Line Items] | |
Fund Name | High Yield Fund |
Class Name | Z Class |
Trading Symbol | (TRKZX) |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at |
Expenses [Text Block] | What were the fund costs for the last year? 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 |
Expense Ratio, Percent | 0% |
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, 2024, despite diminished expectations for Federal Reserve rate cuts in 2024. The resilient economy, strong equity returns, and supportive technical conditions bolstered the asset classs performance. Compared with the style-specific Credit Suisse High Yield Index, the funds off-benchmark allocation to bank loanswhich outpaced high yield bonds over the past yearwas a leading contributor to relative results, driven by holdings in Asurion and Ascend Learning. Credit selection in the services segment added value, partly due to Allied Universal, whose scale, attractive services characteristics, and expectation of improving results support our conviction. Selection among cable operators was a notable detractor, largely due to Altice France. In March, the company aggressively moved pending asset sales to an unrestricted subsidiary and threatened to withhold them from creditors unless bondholders took a haircut to their claims. The funds zero weight in Carvana throughout most of the past year held back gains relative to the style-specific benchmark in the information technology sector. 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 increased the funds energy sector exposure. Following a period of conservative capital decisions by many energy management teams, the sector may be poised to benefit from falling productivity among U.S. onshore drilling companies as more offshore drilling operations come online. |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year Since Inception 3/16/2020 High Yield Fund (Z Class) 11.60 % 7.02 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 - Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) 11.23 6.53 Credit Suisse High Yield Index (Previous Benchmark) 11.11 6.82 The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The funds performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any. Neither the funds returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares. The funds past performance is not a good predictor of the funds future performance. www.troweprice.com |
AssetsNet | $ 6,747,071,000 |
Holdings Count | Holding | 440 |
Advisory Fees Paid, Amount | $ 20,129,000 |
InvestmentCompanyPortfolioTurnover | 37.90% |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $6,747,071 Number of Portfolio Holdings 440 |
Holdings [Text Block] | Credit Quality Allocation* BBB/BB Rated and Above 2.8 % BB Rated 27.3 BB/B Rated 21.4 B Rated 27.6 B/CCC Rated 5.1 CCC Rated and Below 9.5 Not Rated 3.0 Short-Term Holdings 3.3 *Credit ratings for the securities held in the Fund are provided by Moodys and Standard & Poors and are converted to the Standard & Poors nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. Split ratings (e.g., BB/B and B/CCC) are assigned when Moody's and S&P differ. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. |
Largest Holdings [Text Block] | Top Ten Holdings TransDigm 1.9 % CCO Holdings 1.8 Asurion 1.5 Tenet Healthcare 1.5 Cloud Software Group 1.5 HUB International 1.5 Navient 1.4 OneMain Finance 1.4 Venture Global LNG 1.4 Rivian Holdings 1.2 |
Material Fund Change [Text Block] | |
C000005524 | |
Shareholder Report [Line Items] | |
Fund Name | High Yield Fund |
Class Name | Investor Class |
Trading Symbol | (PRHYX) |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at |
Expenses [Text Block] | What were the fund costs for the last year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment High Yield Fund - Investor Class $74 0.70% |
Expenses Paid, Amount | $ 74 |
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, 2024, despite diminished expectations for Federal Reserve rate cuts in 2024. The resilient economy, strong equity returns, and supportive technical conditions bolstered the asset classs performance. Compared with the style-specific Credit Suisse High Yield Index, the funds off-benchmark allocation to bank loanswhich outpaced high yield bonds over the past yearwas a leading contributor to relative results, driven by holdings in Asurion and Ascend Learning. Credit selection in the services segment added value, partly due to Allied Universal, whose scale, attractive services characteristics, and expectation of improving results support our conviction. Selection among cable operators was a notable detractor, largely due to Altice France. In March, the company aggressively moved pending asset sales to an unrestricted subsidiary and threatened to withhold them from creditors unless bondholders took a haircut to their claims. The funds zero weight in Carvana throughout most of the past year held back gains relative to the style-specific benchmark in the information technology sector. 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 increased the funds energy sector exposure. Following a period of conservative capital decisions by many energy management teams, the sector may be poised to benefit from falling productivity among U.S. onshore drilling companies as more offshore drilling operations come online. |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year 5 Years 10 Years High Yield Fund (Investor Class) 11.03 % 3.68 % 3.76 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 - 1.26 Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) 11.23 4.18 4.29 Credit Suisse High Yield Index (Previous Benchmark) 11.11 4.10 4.16 The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The funds performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any. Neither the funds returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares. The funds past performance is not a good predictor of the funds future performance. www.troweprice.com |
AssetsNet | $ 6,747,071,000 |
Holdings Count | Holding | 440 |
Advisory Fees Paid, Amount | $ 20,129,000 |
InvestmentCompanyPortfolioTurnover | 37.90% |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $6,747,071 Number of Portfolio Holdings 440 |
Holdings [Text Block] | Credit Quality Allocation* BBB/BB Rated and Above 2.8 % BB Rated 27.3 BB/B Rated 21.4 B Rated 27.6 B/CCC Rated 5.1 CCC Rated and Below 9.5 Not Rated 3.0 Short-Term Holdings 3.3 *Credit ratings for the securities held in the Fund are provided by Moodys and Standard & Poors and are converted to the Standard & Poors nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. Split ratings (e.g., BB/B and B/CCC) are assigned when Moody's and S&P differ. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. |
Largest Holdings [Text Block] | Top Ten Holdings TransDigm 1.9 % CCO Holdings 1.8 Asurion 1.5 Tenet Healthcare 1.5 Cloud Software Group 1.5 HUB International 1.5 Navient 1.4 OneMain Finance 1.4 Venture Global LNG 1.4 Rivian Holdings 1.2 |
Material Fund Change [Text Block] | |
C000005525 | |
Shareholder Report [Line Items] | |
Fund Name | High Yield Fund |
Class Name | Advisor Class |
Trading Symbol | (PAHIX) |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at |
Expenses [Text Block] | What were the fund costs for the last year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment High Yield Fund - Advisor Class $108 1.03% |
Expenses Paid, Amount | $ 108 |
Expense Ratio, Percent | 1.03% |
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, 2024, despite diminished expectations for Federal Reserve rate cuts in 2024. The resilient economy, strong equity returns, and supportive technical conditions bolstered the asset classs performance. Compared with the style-specific Credit Suisse High Yield Index, the funds off-benchmark allocation to bank loanswhich outpaced high yield bonds over the past yearwas a leading contributor to relative results, driven by holdings in Asurion and Ascend Learning. Credit selection in the services segment added value, partly due to Allied Universal, whose scale, attractive services characteristics, and expectation of improving results support our conviction. Selection among cable operators was a notable detractor, largely due to Altice France. In March, the company aggressively moved pending asset sales to an unrestricted subsidiary and threatened to withhold them from creditors unless bondholders took a haircut to their claims. The funds zero weight in Carvana throughout most of the past year held back gains relative to the style-specific benchmark in the information technology sector. 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 increased the funds energy sector exposure. Following a period of conservative capital decisions by many energy management teams, the sector may be poised to benefit from falling productivity among U.S. onshore drilling companies as more offshore drilling operations come online. |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year 5 Years 10 Years High Yield Fund (Advisor Class) 10.47 % 3.36 % 3.47 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 - 1.26 Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) 11.23 4.18 4.29 Credit Suisse High Yield Index (Previous Benchmark) 11.11 4.10 4.16 The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The funds performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any. Neither the funds returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares. The funds past performance is not a good predictor of the funds future performance. www.troweprice.com |
AssetsNet | $ 6,747,071,000 |
Holdings Count | Holding | 440 |
Advisory Fees Paid, Amount | $ 20,129,000 |
InvestmentCompanyPortfolioTurnover | 37.90% |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $6,747,071 Number of Portfolio Holdings 440 |
Holdings [Text Block] | Credit Quality Allocation* BBB/BB Rated and Above 2.8 % BB Rated 27.3 BB/B Rated 21.4 B Rated 27.6 B/CCC Rated 5.1 CCC Rated and Below 9.5 Not Rated 3.0 Short-Term Holdings 3.3 *Credit ratings for the securities held in the Fund are provided by Moodys and Standard & Poors and are converted to the Standard & Poors nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. Split ratings (e.g., BB/B and B/CCC) are assigned when Moody's and S&P differ. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. |
Largest Holdings [Text Block] | Top Ten Holdings TransDigm 1.9 % CCO Holdings 1.8 Asurion 1.5 Tenet Healthcare 1.5 Cloud Software Group 1.5 HUB International 1.5 Navient 1.4 OneMain Finance 1.4 Venture Global LNG 1.4 Rivian Holdings 1.2 |
Material Fund Change [Text Block] | |
C000159675 | |
Shareholder Report [Line Items] | |
Fund Name | High Yield Fund |
Class Name | I Class |
Trading Symbol | (PRHIX) |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at |
Expenses [Text Block] | What were the fund costs for the last year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment High Yield Fund - I Class $65 0.62% |
Expenses Paid, Amount | $ 65 |
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, 2024, despite diminished expectations for Federal Reserve rate cuts in 2024. The resilient economy, strong equity returns, and supportive technical conditions bolstered the asset classs performance. Compared with the style-specific Credit Suisse High Yield Index, the funds off-benchmark allocation to bank loanswhich outpaced high yield bonds over the past yearwas a leading contributor to relative results, driven by holdings in Asurion and Ascend Learning. Credit selection in the services segment added value, partly due to Allied Universal, whose scale, attractive services characteristics, and expectation of improving results support our conviction. Selection among cable operators was a notable detractor, largely due to Altice France. In March, the company aggressively moved pending asset sales to an unrestricted subsidiary and threatened to withhold them from creditors unless bondholders took a haircut to their claims. The funds zero weight in Carvana throughout most of the past year held back gains relative to the style-specific benchmark in the information technology sector. 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 increased the funds energy sector exposure. Following a period of conservative capital decisions by many energy management teams, the sector may be poised to benefit from falling productivity among U.S. onshore drilling companies as more offshore drilling operations come online. |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year 5 Years Since Inception 8/28/2015 High Yield Fund (I Class) 11.11 % 3.78 % 4.66 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 - 1.15 Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (Strategy Benchmark) 11.23 4.18 5.16 Credit Suisse High Yield Index (Previous Benchmark) 11.11 4.10 5.07 The preceding line graph shows the value of a hypothetical $500,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The funds performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any. Neither the funds returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares. The funds past performance is not a good predictor of the funds future performance. www.troweprice.com |
AssetsNet | $ 6,747,071,000 |
Holdings Count | Holding | 440 |
Advisory Fees Paid, Amount | $ 20,129,000 |
InvestmentCompanyPortfolioTurnover | 37.90% |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $6,747,071 Number of Portfolio Holdings 440 |
Holdings [Text Block] | Credit Quality Allocation* BBB/BB Rated and Above 2.8 % BB Rated 27.3 BB/B Rated 21.4 B Rated 27.6 B/CCC Rated 5.1 CCC Rated and Below 9.5 Not Rated 3.0 Short-Term Holdings 3.3 *Credit ratings for the securities held in the Fund are provided by Moodys and Standard & Poors and are converted to the Standard & Poors nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. Split ratings (e.g., BB/B and B/CCC) are assigned when Moody's and S&P differ. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. |
Largest Holdings [Text Block] | Top Ten Holdings TransDigm 1.9 % CCO Holdings 1.8 Asurion 1.5 Tenet Healthcare 1.5 Cloud Software Group 1.5 HUB International 1.5 Navient 1.4 OneMain Finance 1.4 Venture Global LNG 1.4 Rivian Holdings 1.2 |
Material Fund Change [Text Block] | |