Skip to content

Bond Yield to Maturity Calculator

Calculate yield to maturity (YTM) on any bond given price, coupon, face value, and time to maturity. Supports annual, semi-annual, and quarterly coupon frequencies.

Loading calculator…

Yield to Maturity (YTM) is the single most important metric for comparing bonds. It accounts for coupon income AND capital gain or loss at maturity, expressed as an annualized return.

Current yield vs YTM

Current yield (coupon / price) is a snapshot of income only. YTM is the true total return if you hold to maturity. Bonds trading below par have YTM above the coupon rate; bonds above par have YTM below the coupon rate.

Canadian bond conventions

Most Canadian government and corporate bonds pay semi-annual coupons. Strips (zero-coupon bonds) pay all interest at maturity as a single capital gain.