Fund Evaluator:
T. Rowe Price US High Yield Advisor (TUHAX)
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Fund Details
T. Rowe Price US High Yield Advisor Overview
T. Rowe Price US High Yield Advisor (TUHAX) is an actively managed Taxable Bond High Yield Bond fund. T. Rowe Price launched the fund in 2013.
The investment seeks total return, and secondarily, current income. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in U.S. high yield instruments. U.S. high yield instruments, commonly referred to as “junk” bonds, are debt instruments that are, at the time of purchase, rated below investment grade by a credit rating agency, or, if not rated by any credit rating agency, deemed by T. Rowe Price to be below investment grade.
About T. Rowe Price US High Yield Advisor (TUHAX)
There are 2 members of the management team with an average tenure of 6.63 years: Kevin Loome (2013), Douglas Zinser (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US HY Constnd TR USD index with a weighting of 100%. T. Rowe Price US High Yield Advisor has 113 securities in its portfolio. The top 10 holdings constitute 15.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
T. Rowe Price US High Yield Advisor is part of the Fixed Income global asset class and is within the Taxable Bond fund group. T. Rowe Price US High Yield Advisor has 16.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 1.0% allocated to foreign stock, and 2.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.7% (76.7% domestic bond, 15.9% foreign bond and 1.0% convertible bond). T. Rowe Price US High Yield Advisor has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $545 million average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TUHAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price US High Yield Advisor expense ratio is high compared to funds in the High Yield Bond category. T. Rowe Price US High Yield Advisor has an expense ratio of 0.90%, which is 2% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price US High Yield Advisor has a portfolio turnover rate of 88%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 71% for the High Yield Bond category.
Recently, in the month of June 2026, T. Rowe Price US High Yield Advisor returned 0.2%, which earned it a grade of D, as the High Yield Bond category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
T. Rowe Price US High Yield Advisor has a trailing yield of 6.77%, which is above the 6.26% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
T. Rowe Price US High Yield Advisor Grades
Year to date, the fund has returned 1.8%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 5.7% over the past year (grade of C), 8.1% over the past three years (grade of C) and 3.1% per year over the past five years (grade of F) and 5.4% per year over the past 10 years (grade of B).
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TUHAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TUHAX Return (NAV) | 0.2% | 2.7% | 5.7% | 8.1% | 3.1% | 5.4% |
| TUHAX Grade | D | B | C | C | F | B |
| +/- Category | -0.0% | 0.3% | -0.0% | -0.0% | -0.8% | 0.3% |
| High Yield Bond Avg | 0.2% | 2.4% | 5.7% | 8.1% | 3.8% | 5.1% |
| TUHAX Tax Cost Ratio | na | na | 2.7% | 2.9% | 2.8% | 2.6% |
TUHAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TUHAX Return (NAV) | 1.8% | 7.9% | 8.1% | 14.0% | -14.9% | 4.7% | 6.8% | 15.9% | -4.1% | 8.6% | 16.1% |
| TUHAX Grade | C | C | B | A | F | C | B | A | F | A | A |
| +/- Category | -0.1% | 0.0% | 0.5% | 2.1% | -4.8% | -0.4% | 1.6% | 2.9% | -1.4% | 1.9% | 2.7% |
| High Yield Bond Avg | 1.9% | 7.9% | 7.6% | 11.9% | -10.0% | 5.1% | 5.3% | 13.0% | -2.7% | 6.7% | 13.4% |
| Risk Measures | |
| Standard Deviation: | 4.4% |
| Total Risk Index: | 0.36 - Low |
| Category Risk Index: | 1.09 - High |
| Category Risk Grade: | F (81% Rank) |
| Beta: | 0.57 |
| R-Squared: | 52% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 6.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $449 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 88% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.2 years | |||
| Average Tenure: 6.6 years | |||
| Managers (Year): Loome Kevin (2013), Zinser Douglas (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 113 |
| % in Top 10 Holdings: | 15.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 1.0% |
| Preferred Stock: | 2.0% |
| Domestic Bond: | 76.7% |
| Foreign Bond: | 15.9% |
| Convertible Bond: | 1.0% |
| Other: | 0.0% |
| Cash: | 3.4% |
Purchase Information
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | www.troweprice.com |
| Status: | Open |
| Inception Date: | April 30, 2013 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.92% |
| Share Class: | T. Rowe Price US High Yield I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
