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THYF

GradeCNew York Stock Exchange Arca

T. Rowe Price U.S. High Yield ETF

High Yield Bond · T. Rowe · Inception 2022-10-25

$50.46−0.37 (−0.73%)

As of Sep 23, 2026, 3:04 PM EDT

History starts Oct 26, 2022.
Intraday session: down, 22 prints from 50.83 to 50.46. Range 50.46 to 50.81. Use the arrow keys to read each point.$50.60$50.70$50.8010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$840M
1Y return
+2.8%
Yield · Last 12 months
6.92%
Holdings
100
Volume · 30D
0M sh
NAV per share
$50.75
52W range
low $50.43high $52.98

The ETF.net THYF Grade

C

52/ 100

Rank 54 of 85 in US High Yield⁠

Confidence High

Six-pillar profile for THYF. Scores out of 100: Cost 36, Risk 50, Mission 92, Tradability 29, Holdings 33, Durability 67. Strongest: Mission (92). Weakest: Tradability (29). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 52 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 36
    Category rank58/85 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 92
    Category rank38/74 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 50
    Category rank58/85 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 29
    Category rank72/85 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank69/85 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 67
    Category rank29/85 · top 34%

Graded as of Sep 22, 2026

Our read on THYF

ETF.net Research

CT. Rowe Price sends its credit desk into junk-bond territory: roughly 100 hand-picked issues chasing total return first and income second, in a corner of the market ruled by index trackers holding thousands.

Stated mandate

The fund seeks total return and, secondarily, current income.

Why people hold it

  1. 01No index to hug. Roughly 100 bonds chosen by the manager, versus broad high yield benchmarks that sprawl across thousands of issues.
  2. 02Pays monthly, with total return as the primary goal and current income the stated secondary one.
  3. 03Stays in its lane: US high yield credit in a standard 1940 Act fund, and the portfolio has matched that stated mandate closely.

Worth knowing

  1. 010.50% a year sits above the 0.40% typical for the category, and index rivals like SCYB and SPHY charge a few basis points. Stock-picking bonds costs more.
  2. 02Thinly traded next to the category's giants, so bid-ask spreads can run wider, especially in fast markets.
  3. 03Launched in 2022, so the track record is short. The fund also discloses that distributions can include return of capital.

THYF Holdings

As of Sep 20, 2026, 7:24 AM
Asset class
Bonds
Holdings
100
Top-10 weight
21%
Largest holding
Cash/Cash equivalent USD6.6%

Sectors

  • Financials34.0%
  • Materials18.3%
  • Health Care9.8%
  • Consumer Discr.8.1%
  • Real Estate6.8%
  • Industrials6.1%
  • Energy4.3%
  • Cons. Staples3.9%
  • Technology3.7%
  • Communication3.7%
  • Utilities1.4%

Geography

  • United States84.25%
  • Canada6.69%
  • Chile1.66%
  • Denmark1.16%
  • United Kingdom1.16%
  • Switzerland1.15%
  • France1.15%
  • Jamaica1.15%
  • Other countries (2)1.64%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash/Cash equivalent USD6.56%0$55M29
002—BENDING SPOONS US INC TERM LOAN2.05%16,951,425$17M1
003—SOUTH BOW CAN INFRA HOLD COMPANY GUAR 03/55 VAR1.87%15,165,000$16M1
004—VICI PROPERTIES LP SR UNSECURED 05/52 5.6251.82%17,525,000$15M1
005—ENERGY TRANSFER LP JR SUBORDINA 01/57 VAR1.53%13,076,000$13M1
006—BROOKFIELD PPTY REIT INC SR SECURED 144A 04/27 4.51.50%12,729,000$13M1
007—LSF9 ATLANTIS HOLDINGS LLC 2025 TERM LOAN B1.48%12,497,556$12M2
008—TALEN ENERGY SUPPLY LLC COMPANY GUAR 144A 02/36 6.51.47%12,811,000$12M2
009—AVIS BUDGET CAR/FINANCE COMPANY GUAR 144A 01/30 8.251.44%11,881,000$12M2
010—WILLIAMS SCOTSMAN INC SR SECURED 144A 10/31 7.3751.29%10,580,000$11M1
011—DIRECTV FINANCING LLC SR SECURED 144A 02/30 8.8751.27%10,512,000$11M1
012—HERC HOLDINGS INC COMPANY GUAR 144A 03/34 61.22%10,600,000$10M1
013—ANYWHERE REAL EST/CO ISS SECURED 144A 04/30 71.21%10,156,349$10M1
014—HLF FIN SARL LLC/HERBALI SR SECURED 144A 05/33 7.751.20%10,125,000$10M1
015—VOYAGER PARENT LLC SR SECURED 144A 07/32 9.251.17%9,332,000$10M2

Showing 1–15 of 102 holdings

THYF Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

THYF$10,282
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. THYF $10,282. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for THYF. Periods over one year show the average yearly return.
PeriodTHYF
Year to date+1.7%
1 month−0.6%
3 months−0.3%
1 year+2.8%
3 years+8.0%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for THYF
YearReturn barTHYF
2026 YTD+1.7%
2025+7.8%
2024+8.5%
2023+11.8%
2022+1.5%

History from Oct 26, 2022

THYF in the news

ETF.net Research hasn’t filed on THYF yet — coverage lands here as it’s written.

THYF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
6.92%Last 12 months
Payout per share
$3.52Last 12 months
Last payment
$0.28 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 44 payments from 2023 to 2026 YTD. Jan 25, 2023 $0.37; Feb 22, 2023 $0.36; Mar 27, 2023 $0.37; Apr 24, 2023 $0.36; May 24, 2023 $0.37; Jun 26, 2023 $0.37; Jul 25, 2023 $0.31; Aug 25, 2023 $0.36; Sep 25, 2023 $0.33; Oct 25, 2023 $0.35; Nov 24, 2023 $0.35; Dec 22, 2023 $0.45; Jan 25, 2024 $0.34; Feb 23, 2024 $0.32; Mar 22, 2024 $0.33; Apr 24, 2024 $0.32; May 24, 2024 $0.32; Jun 25, 2024 $0.32; Jul 26, 2024 $0.32; Aug 27, 2024 $0.32; Sep 25, 2024 $0.32; Oct 28, 2024 $0.27; Nov 25, 2024 $0.30; Dec 23, 2024 $0.31; Jan 28, 2025 $0.31; Feb 25, 2025 $0.32; Mar 26, 2025 $0.29; Apr 25, 2025 $0.33; May 27, 2025 $0.33; Jun 25, 2025 $0.32; Jul 28, 2025 $0.32; Aug 26, 2025 $0.32; Sep 25, 2025 $0.31; Oct 28, 2025 $0.31; Nov 24, 2025 $0.30; Dec 23, 2025 $0.30; Jan 27, 2026 $0.27; Feb 24, 2026 $0.29; Mar 26, 2026 $0.29; Apr 27, 2026 $0.29; May 26, 2026 $0.30; Jun 25, 2026 $0.28; Jul 28, 2026 $0.29; Aug 26, 2026 $0.28. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Aug 26, 2026Aug 28, 2026$0.28
Jul 28, 2026Jul 30, 2026$0.29
Jun 25, 2026Jun 29, 2026$0.28
May 26, 2026May 28, 2026$0.30
Apr 27, 2026Apr 29, 2026$0.29
Mar 26, 2026Mar 30, 2026$0.29
Feb 24, 2026Feb 26, 2026$0.29
Jan 27, 2026Jan 29, 2026$0.27
Dec 23, 2025Dec 26, 2025$0.30
Nov 24, 2025Nov 26, 2025$0.30
Oct 28, 2025Oct 30, 2025$0.31
Sep 25, 2025Sep 29, 2025$0.31

THYF Risk

How much the fund’s monthly returns vary, scaled to a year.
4.9%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.65
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−5.2%
46 months · trough Mar 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.58
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

THYF Cost

Expense ratio0.50%
  • The middle half of US High Yield funds
  • Median 0.43%

52 of the 84 US High Yield funds charge less.

THYF costs $50.00 a year on $10,000. The median US High Yield fund costs $43.50.