Tool
Bond YTM & duration
Yield to maturity, Macaulay & modified duration, convexity, and price sensitivity to yield changes — for individual fixed-income holdings (not bond ETFs, which trade like stocks).
Theoretical bond math. Assumes flat yield curve, no credit/default risk, no embedded options (call/put), no taxes, and coupons reinvested at YTM. Real bond pricing differs. Not investment advice.
Bond inputs
Yield & price
Yield to maturity
+5.01%
Trading at discount
Current yield
+4.69%
coupon ÷ price
Coupon rate
+4.50%
contractual
Coupon income / yr
$45.00
Duration & convexity
Macaulay duration
8.12 yrs
cashflow-weighted time
Modified duration
7.92 yrs
price elasticity to yield
Convexity
75.28
2nd-order curvature
Price sensitivity to yield change
-200bp
+17.34%
$1,126.47
-100bp
+8.29%
$1,039.62
-50bp
+4.05%
$998.91
+50bp
-3.86%
$922.90
+100bp
-7.54%
$887.61
+200bp
-14.33%
$822.44
Approximation: ΔP/P ≈ −D × Δy + 0.5 × C × Δy². Accurate for small Δy; use full pricing for moves >200bp.
Cashflow schedule (first 8 + final)
0.50y
$22.50
1.00y
$22.50
1.50y
$22.50
2.00y
$22.50
2.50y
$22.50
3.00y
$22.50
3.50y
$22.50
4.00y
$22.50
final
$1,022.50
Total cashflow: $1,450.00. At YTM, present value sums to current price ($960.00).