YIELD

The yield of a bond that pays coupons, from its price.

Group: Financial. Compatible with DAX.

Syntax

YIELD ( <settlement>, <maturity>, <rate>, <pr>, <redemption>, <frequency> [, <basis>] )

Parameter	Type	Description
`settlement`	Date	The day the buyer takes the security over; later than its issue.
`maturity`	Date	The day the security ends and its face value is repaid.
`rate`	Number	The coupon: the interest paid a year, as a decimal of the face value (0.04 for 4 %).
`pr`	Number	What the buyer pays, in percent of the face value: 98.5 for 98.5 %.
`redemption`	Number	What is repaid at maturity, in percent of the face value: usually 100.
`frequency`	Whole number	Coupons a year: 1 for yearly, 2 for half-yearly, 4 for quarterly.
`basis`	Whole number optional	The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4).

Returns

Number. The yield a year, as a decimal.

Remarks

It is the yield at which PRICE gives pr, found by trial. With one coupon left it follows directly from the price, at simple interest.
A bond bought below its redemption yields more than its coupon; one bought above it, less.
A coupon below 0, a price or redemption of 0 or less, or settlement on or after maturity, is an error.
The dates are taken as whole days. frequency and basis are rounded to whole numbers first; a frequency other than 1, 2 or 4, or a basis outside 0 to 4, is an error.

Examples

The yield of a bond bought at 95.04287

Bought 15 February 2008, maturing 15 November 2016, 5.75 % half-yearly coupons on 30/360.

EVALUATE
ROW (
    "Yield", YIELD ( DATE ( 2008, 2, 15 ), DATE ( 2016, 11, 15 ), 0.0575, 95.04287, 100, 2, 0 )
)

Yield
0.0650000068807548

The yields of the treasury's bonds

The Holdings table: yearly coupons on actual/actual, bought on 2 November 2026 at the prices quoted. Two bonds have no price, so they are left out.

EVALUATE
SELECTCOLUMNS (
    FILTER ( Holdings, NOT ISBLANK ( Holdings[Price] ) ),
    "Bond", Holdings[Bond],
    "Price", Holdings[Price],
    "Yield", YIELD ( DATE ( 2026, 11, 2 ), Holdings[Maturity], Holdings[Coupon], Holdings[Price], 100, 1, 1 )
)
ORDER BY [Bond]

Bond	Price	Yield
Corporate 2030	101.3	0.0439202340519837
Government 2028	97.84	0.047026952055641
Government 2033	92.15	0.0365297603344054

PRICE, YIELDDISC, YIELDMAT, DURATION, ODDFYIELD.

Last updated 3 November 2026 · OpenBI Studio 0.3.74