Excel like a finance pro.
← The libraryPractice · 2 questions →
Financial function
YIELD
Returns the yield of a bond from its price.
Rarely usedDifficulty 1650 · ExpertUsage rank #486 of 520
When to use it
The annual yield of a coupon bond given its price.
The shape of it
- Syntax
=YIELD(settlement, maturity, rate, pr, redemption, frequency, [basis])
Worked examples
From a price
=YIELD(DATE(2008,2,15),DATE(2016,11,15),0.0575,95.04287,100,2,0) → 6.50%
A bond at 95.04 yields 6.5%.
At par
=YIELD(DATE(2025,1,15),DATE(2035,1,15),0.05,100,100,2) → 5.00%
At par, yield equals the coupon.
Round trip
=YIELD(DATE(2025,1,15),DATE(2035,1,15),0.05,108.18,100,2) → 4.00%
Reverses the PRICE example.
Worth knowing
- Iterative; unusual inputs can fail to converge.
- PRICE is the inverse.
- Yield to maturity assumes coupons are reinvested at the same rate.
Where it goes wrong
- #NUM! for invalid dates or a non-positive price.
- Basis must match the bond's convention.
Related
Learn the moves here — or let Wauvel run them on your numbers.
Meet your AI CFO →One CFO-grade Excel tip a week
A short, practical email for finance operators — functions, shortcuts, and the moves that save an afternoon. Free, unsubscribe anytime.