{"id":497,"date":"2025-07-15T13:34:47","date_gmt":"2025-07-15T13:34:47","guid":{"rendered":"https:\/\/functiontranslator.com\/2021\/02\/12\/yield\/"},"modified":"2021-02-13T11:37:05","modified_gmt":"2021-02-13T11:37:05","slug":"yield","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/en\/yield\/","title":{"rendered":"YIELD"},"content":{"rendered":"

Today, we will delve into the YIELD function, a versatile tool available in both Microsoft Excel and Google Sheets. This function is primarily used to calculate the yield of securities that issuers pay periodic interest on. The syntax and functionality of the YIELD function are consistent across both applications. Let us explore how to use this function effectively.<\/p>\n

Function Syntax<\/h2>\n

The YIELD function’s syntax is as follows:<\/p>\n

YIELD(settlement, maturity, rate, pr, redemption, frequency, [basis])<\/code><\/pre>\n
The parameters are defined as:<\/p>\n
    \n
  • settlement<\/code> – The date when the security is delivered to the buyer.<\/li>\n
  • maturity<\/code> – The date when the security expires.<\/li>\n
  • rate<\/code> – The annual coupon rate of the security.<\/li>\n
  • pr<\/code> – The price of the security per $100 face value.<\/li>\n
  • redemption<\/code> – The redemption value of the security per $100 face value.<\/li>\n
  • frequency<\/code> – The number of coupon payments per year.<\/li>\n
  • basis<\/code> – An optional argument that specifies the day count convention to use.<\/li>\n<\/ul>\n
    Examples<\/h2>\n
    Below are several examples to demonstrate practical applications of the YIELD function:<\/p>\n
    Example 1: Calculating Yield<\/h2>\n
    Consider a bond with the following characteristics:<\/p>\n
      \n
    • Settlement Date: 01\/01\/2022<\/li>\n
    • Maturity Date: 01\/01\/2032<\/li>\n
    • Annual Coupon Rate: 5%<\/li>\n
    • Price: $950<\/li>\n
    • Redemption Value: $1000<\/li>\n
    • Frequency: 2 (Semi-annual payments)<\/li>\n<\/ul>\n
      The yield of this bond can be calculated using the YIELD function:<\/p>\n\n\n\n
      Formula<\/th>\nResult<\/th>\n<\/tr>\n
      =YIELD(\"01\/01\/2022\", \"01\/01\/2032\", 0.05, 95, 100, 2, 0)<\/code><\/td>\nThe expected yield is approximately 6.5%, assuming a basis of 0.<\/td>\n<\/tr>\n<\/table>\n
      Example 2: Changing Day Count Basis<\/h2>\n
      In this example, the yield calculation is modified to use a different day count basis (Actual\/360):<\/p>\n\n\n\n
      Formula<\/th>\nResult<\/th>\n<\/tr>\n
      =YIELD(\"01\/01\/2022\", \"01\/01\/2032\", 0.05, 95, 100, 2, 1)<\/code><\/td>\nThe result will depend on the newly selected day count basis.<\/td>\n<\/tr>\n<\/table>\n
      Adjusting the parameters within the YIELD function allows you to cater to different securities’ specific requirements, thereby enabling precise yield calculations for diverse payment frequencies and day count conventions.<\/p>\n
      It is essential to have a thorough understanding of the YIELD function and its parameters to accurately assess the yield of your investment securities.<\/p>\n","protected":false},"excerpt":{"rendered":"
      Returns the yield on a security that pays periodic interest<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[199],"tags":[],"class_list":["post-497","post","type-post","status-publish","format-standard","hentry","category-financial"],"acf":[],"yoast_head":"\nExcel YIELD Function \u2013 How It Works, Formula Examples and Syntax<\/title>\n<meta name=\"description\" content=\"Learn what the Excel YIELD function does. 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