Calculadora de Rendimento até o Vencimento (YTM)
Calcule o rendimento até o vencimento de um título de renda fixa.
Approximate YTM
5.64 %
Approximate YTM vs Years to Maturity
Formula
Bond Yield to Maturity
YTM is the total return expected on a bond held to maturity, accounting for coupon payments and any price discount or premium.
Approximate YTM Formula
YTM = [C + (F - P) / n] / [(F + P) / 2]
Where:
Premium vs Discount
Exemplo Resolvido
$1,000 face value bond, $950 current price, 5% coupon, 10 years to maturity.
- 01Annual coupon = $1,000 x 5% = $50
- 02Price gain = ($1,000 - $950) / 10 = $5/year
- 03Average price = ($1,000 + $950) / 2 = $975
- 04Approx YTM = ($50 + $5) / $975 = 5.64%
Perguntas Frequentes
What is yield to maturity?
YTM is the total annualized return you would earn if you buy the bond at its current price and hold it until maturity, reinvesting all coupon payments at the same rate. It is the most comprehensive bond yield measure.
Why is approximate YTM used?
The exact YTM requires solving a complex polynomial equation iteratively. The approximation formula gives results within 0.1-0.3% of the exact value and is much simpler to calculate.
How does YTM differ from current yield?
Current yield = annual coupon / current price. It ignores the gain or loss at maturity. YTM includes both the coupon income AND the price change, giving a more complete picture.
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