How to Use the Power BI DAX function YIELDMAT

Understanding YIELDMAT

Before we dive into the specifics of using the YIELDMAT function, let’s first understand what it does. YIELDMAT calculates the yield of a security with an irregular distribution of coupon payments. It takes into account the security’s settlement date, maturity date, coupon rate, and the dates and amounts of the coupon payments.

Syntax of YIELDMAT

The syntax of the YIELDMAT function is as follows:

YIELDMAT(settlement, maturity, last_interest, rate, pr, redemption, frequency, [basis])

Let's break down the parameters:

- **settlement**: The settlement date of the security. This is the date on which the security is traded and the buyer must pay the seller.

- **maturity**: The maturity date of the security. This is the date on which the security's face value is paid out to the holder.

- **last_interest**: The date of the last coupon payment.

- **rate**: The coupon rate of the security.

- **pr**: The price at which the security is bought or sold.

- **redemption**: The face value of the security.

- **frequency**: The number of coupon payments per year.

- **[basis]**: An optional argument that specifies the day count basis to use for the calculation. If omitted, the default value is 0.


Let's take an example to understand how to use the YIELDMAT function. Consider a security with a face value of $1000, a coupon rate of 5%, coupon payments every six months, a settlement date of 1-Jan-2020, a maturity date of 1-Jan-2025, and a last coupon payment date of 1-Jul-2019. The security is bought at $950.

To calculate the yield of this security using the YIELDMAT function, we would use the following formula:

YIELDMAT(“1-Jan-2020”, “1-Jan-2025”, “1-Jul-2019”, 0.05, 950, 1000, 2)

The result of this calculation would be the yield of the security, expressed as a decimal.

The YIELDMAT function in Power BI is a powerful tool for calculating yields on securities with irregular coupon payments. By understanding its syntax and parameters, you can use it to calculate the yield of any security that meets its criteria.

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