Documentation/Calc Functions/YIELDMAT

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Function name:

YIELDMAT

Category:

Financial Analysis

Summary:

Calculates the annual yield of a security, the interest of which is paid on the date of maturity.

Syntax:

YIELDMAT(Settlement; Maturity; Issue; Rate; Price[; Basis])

Returns:

Returns a real number (expressed as a percentage or fraction) which is the value of a security per 100 currency units of face value. The security has an irregular first interest date.

Arguments:

Settlement is a date or a reference to a cell containing that date which is the date of purchase of the security.

Maturity is a date or a reference to a cell containing that date which is the date on which the security matures (expires).

Issue is a date or a reference to a cell containing that date which is the date of issue of the security.

Rate is a non-negative real number (expressed as a percentage or fraction) or a reference to a cell containing that number which is the annual rate of interest (coupon interest rate).

Price is a positive real number or a reference to a cell containing that number which is the price (purchase price) of the security per 100 currency units of par value.

Basis is a positive integer from 0 to 4 or a reference to a cell containing that integer which is chosen from a list of options and indicates how the year is to be calculated. For more information, visit Wikipedia's Day count convention page.

Basis Calculation
0 or missing US method (NASD), 12 months of 30 days each
1 Exact number of days in months, exact number of days in year.
2 Exact number of days in month, year has 360 days.
3 Exact number of days in month, year has 365 days.
4 European method, 12 months of 30 days each.


  • If Price less than or equal to 0 then the function returns an error value.
  • If either Maturity or Settlement is not valid dates then the function returns an value(#VALUE!) error.
  • If Settlement date is after the Maturity date then the function returns an error value.
  • If Rate is less than 0 then the function will return an error value.
  • If Basis is a non-integer value, then the function uses its floor value, i.e. it is truncated to an integer value.
  • After truncation if Basis is any number except 0,1,2,3,4 or missing (passed as empty argument or not passed at all),then the function will return an error value.

Additional details:

None

Examples:

Formula Description Returns
=YIELDMAT("1999-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 2) A security is purchased on 1999-03-15. It matures on 1999-11-03. The issue date was 1998-11-08. The rate of interest is 6.25%, the price is 100.0123 units. The basis is 2. The function calculates how high is the yield. 0.060958410901095 or 6.10%
=YIELDMAT("1999-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123) A security is purchased on 1999-03-15. It matures on 1999-11-03. The issue date was 1998-11-08. The rate of interest is 6.25%, the price is 100.0123 units. The basis is 2. The function calculates how high is the yield. 0.060954333691539 or 6.10%
=YIELDMAT("1999-03-15.05"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 2) The function returns an error value if either Settlement or Maturity are not valid dates. #VALUE!
=YIELDMAT("2000-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 2) The function returns an error when Settlement date is after the Maturity date. Err:502

Related LibreOffice functions:

PRICEMAT

YIELD

YIELDDISC

ODF standard:

Section 6.12.55, part 2

Equivalent Excel functions:

YIELDMAT