PAHIX Fees and Costs — T. Rowe Price High Yield Fund, Inc., Advisor Class
Data updated: 2026-08-12
The net expense ratio is 1.04%: a 0.58% management fee, a 0.25% 12b-1 fee plus 0.21% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 42%.
PAHIX Fees and Expenses
Annual operating expenses and sales charges of PAHIX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.58% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.04% |
| Fee waiver | — |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PAHIX Costs Over Time
On $10,000 invested in PAHIX, assuming 5% a year before costs, total costs come to $650 over 5 years, cutting the return by 1.09% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.04%) | $109 | $341 | $590 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $109 | $358 | $650 |
| Value after costs | $10,391 | $11,219 | $12,113 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
PAHIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $5.1B
- Portfolio turnover (prospectus): 42%
- Securities on loan, average value: $261.0M
- Net income from securities lending: $1.6M (0.025% of average net assets)
PAHIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $5K | 48.08% |
| THE TORONTO-DOMINION BANK | $2K | 22.62% |
| JEFFERIES LLC | $2K | 14.92% |
| RBC Capital Markets, LLC | $911 | 9.03% |
| MORGAN STANLEY & CO. LLC | $222 | 2.20% |
| BOFA SECURITIES, INC. | $165 | 1.64% |
| Virtu ITG Hong Kong Limited | $53 | 0.53% |
| TP ICAP MARKETS LIMITED | $50 | 0.50% |
| LUMINEX TRADING & ANALYTICS LLC | $50 | 0.50% |
PAHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Inc. | $512.2M | 15.13% |
| J.P. MORGAN SECURITIES LLC | $509.5M | 15.05% |
| BOFA SECURITIES, INC. | $501.2M | 14.80% |
| GOLDMAN SACHS & CO. LLC | $473.9M | 14.00% |
| BARCLAYS CAPITAL INC. | $302.5M | 8.93% |
| RBC Capital Markets, LLC | $265.1M | 7.83% |
| JEFFERIES LLC | $246.5M | 7.28% |
| MORGAN STANLEY & CO. LLC | $238.4M | 7.04% |
| WELLS FARGO SECURITIES, LLC | $195.4M | 5.77% |
| Loop Capital Markets LLC | $141.7M | 4.18% |
T. Rowe Price High Yield Fund, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRKZX | Z Class | 0.00% | — |
| PRHIX | I Class | 0.62% | — |
| PRHYX | T. Rowe Price High Yield Fund, Inc. | 0.70% | — |
| PAHIX | Advisor Class | 1.04% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.