{ "category": "Financial functions", "display_name": "YIELDDISC", "entry_kind": "built_in_function", "eval_api": { "method": "POST", "url": "https://handbook.dnacalc.com/api/eval" }, "function_id": "FUNC.YIELDDISC", "implementation_state": { "answer_bank": null, "detail": "Recorded: 31 workbook cells.", "dnacalc_commit": "9e1884369a678158dd82d3d74188daf986995e87", "in_catalogue": true, "state": "matches", "state_label": "Matches every recorded Excel answer", "summary": "Matches all 31 recorded answers", "workbook_corpus": { "cells": 31, "matched": 31 } }, "implementations": [ { "commit": "9e1884369a678158dd82d3d74188daf986995e87", "flavour": "excel-compatibility-candidate", "language": "Rust", "name": "CalcFunc", "own_code": [ "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/catalogue/bonds.rs#L153-L156", "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/ported/bond_core_family.rs#L516-L541" ], "repository": "https://github.com/DnaCalc/DnaCalc", "shared_code": [ "catalogue/bonds::or", "catalogue/bonds::bond_out", "catalogue/financial::date_1900", "locale::days_from_civil", "locale::civil_from_days", "locale::excel_serial_from_ymd", "locale::ymd_from_excel_serial", "ported/bond_core_family::max_serial", "ported/bond_core_family::derr", "ported/bond_core_family::dyear", "ported/bond_core_family::dim", "ported/bond_core_family::act", "ported/bond_core_family::basis", "ported/bond_core_family::dser", "ported/bond_core_family::pos", "ported/bond_core_family::d360us", "ported/bond_core_family::d360eu", "ported/bond_core_family::less_or_equal_to_a_year_apart", "ported/bond_core_family::consider_as_bisestile", "ported/bond_core_family::days_in_year_for_mat", "ported/bond_core_family::dd", "ported/bond_core_family::map_bond_core_error_to_ws", "ported/day_count_common::days_in_month", "ported/day_count_common::us_30_360" ], "source": "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/catalogue/bonds.rs#L153-L156", "state": "matches", "suite": null, "summary": "Matches all 31 recorded answers" } ], "json_url": "https://handbook.dnacalc.com/api/functions/FUNC.YIELDDISC.json", "name": "YIELDDISC", "notes": [], "schema": "efh.function-reference/v1", "section_order": [ "what-it-does", "try-it", "quirks", "how-to-implement", "version-differences", "alternatives" ], "sections": { "alternatives": "\n[DISC](FUNC.DISC.md) uses a discount-on-redemption rate; [PRICEDISC](FUNC.PRICEDISC.md) solves price; [TBILLYIELD](FUNC.TBILLYIELD.md) applies its bill-specific convention.\n\n\n", "how-to-implement": "\n1. Truncate the dates and basis, validate the workbook dates, require positive price and redemption and settlement before maturity.\n2. Obtain the numerator day count `days` for the selected basis. Bases 0 and 4 use their respective 30/360 rules; bases 1, 2 and 3 use actual serial days.\n3. Obtain the year denominator B: 360 for bases 0, 2 and 4; 365 for basis 3; the source’s calendar-dependent `days_in_year_for_mat` for basis 1. The latter can use 365, 366 or a multi-year average. Do not silently substitute a fixed 365 or call a different YEARFRAC algorithm.\n4. Using ordinary binary64 stores D, form `gain=D(redemption-price)`, `relative_gain=D(gain/price)`, `year_scale=D(B/days)` and `yield=D(relative_gain*year_scale)`.\n\nFor the example the gain is four, relative gain is about `0.041666666666666664`, and year scale is `360/30=12`. Their product is one half. The year ratio is computed separately: `((red-price)/price)*B/days` is another association with potentially different low bits.\n\nThe retained source records 25 of 25 readings distinguishing this grouped year ratio; the left-to-right candidate matched 17. Its calendar scaffolding and initial formula include a credited, changed translation of the Apache-licensed ExcelFinancialFunctions project, alongside project-owned changes guided by recorded answers. This scope does not establish every date seam or whole-function numerical agreement.\n\n\n", "quirks": "\nBasis defaults to zero: 0 US 30/360, 1 actual/actual, 2 actual/360, 3 actual/365, 4 European 30/360. Dates and selectors are truncated under their documented rules. Use DATE values rather than locale-dependent date text. Price and redemption must be positive and settlement before maturity. Invalid dates give `#VALUE!`; invalid amounts, date order or basis give `#NUM!`. This is yield on purchase price, not the discount rate on redemption.\n\n\n", "sources": "\n- [Microsoft: YIELDDISC function](https://support.microsoft.com/en-us/excel/functions/yielddisc-function), opened 6 November 2026; syntax, documented argument rules and errors.\n- [DnaCalc implementation](https://github.com/DnaCalc/DnaCalc/blob/da3ecc4fb19a3a5529708c311d0e8f05688ac165/crates/calc-func/src/ported/bond_core_family.rs); implementation steps and the limits identified in the text.\n\n", "try-it": "\n`=YIELDDISC(DATE(2027,1,1),DATE(2027,1,31),96,100,2)` is about `0.5`. The gain is four on a price of 96, annualized from thirty actual days using a 360-day year.\n\n\n", "version-differences": "\nNo same-input comparison between named Excel builds is recorded for this function here. The documented behaviour below is not a measurement of every Excel release.\n\n\n", "what-it-does": "\n`YIELDDISC(settlement,maturity,pr,redemption,[basis])` returns the annual investment yield of a discounted security. Both amounts are expressed per the same face-value unit.\n\n\n" }, "signature": { "display": "YIELDDISC(settlement, maturity, pr, redemption, [basis])", "parameters": [ { "description": null, "name": "settlement", "optional": false, "repeats": false }, { "description": null, "name": "maturity", "optional": false, "repeats": false }, { "description": null, "name": "pr", "optional": false, "repeats": false }, { "description": null, "name": "redemption", "optional": false, "repeats": false }, { "description": null, "name": "basis", "optional": true, "repeats": false } ], "trailing_repeats": false }, "sources": { "metadata": { "admission": { "label": "implemented", "reason": null }, "arity": { "max": 5, "min": 4 }, "category": "Financial functions", "classification": { "arg_preparation_profile": "ValuesOnlyPreAdapter", "coercion_lift_profile": "Custom", "determinism_class": "Deterministic", "error_collapse_profile": "None", "fec_dependency_profile": "None", "host_interaction_class": "None", "kernel_signature_class": "Custom", "rich_value_usage": "RichBlind", "surface_fec_dependency_profile": "RefOnly", "thread_safety_class": "SafePure", "volatility_class": "NonVolatile" }, "descriptions": { "long": null, "short": "Annual yield of a discounted security", "short_source": "dna-calc-own" }, "docs": { "english_description": "Returns the annual yield for a discounted security; for example, a Treasury bill", "microsoft_url": "https://support.microsoft.com/en-us/office/yielddisc-function-a9dbdbae-7dae-46de-b995-615faffaaed7" }, "entry_kind": "built_in_function", "localized_family_names": null, "localized_names": [ { "locale": "ar-SA", "name": "YIELDDISC" }, { "locale": "bg-BG", "name": "YIELDDISC" }, { "locale": "cs-CZ", "name": "YIELDDISC" }, { "locale": "da-DK", "name": "AFKAST.DISKONTO" }, { "locale": "de-DE", "name": "YIELDDISC" }, { "locale": "el-GR", "name": "YIELDDISC" }, { "locale": "en-AU", "name": "YIELDDISC" }, { "locale": "en-GB", "name": "YIELDDISC" }, { "locale": "en-US", "name": "YIELDDISC" }, { "locale": "es-ES", "name": "RENDTO.DESC" }, { "locale": "et-EE", "name": "YIELDDISC" }, { "locale": "fi-FI", "name": "TUOTTO.DISK" }, { "locale": "fr-FR", "name": "RENDEMENT.SIMPLE*" }, { "locale": "he-IL", "name": "YIELDDISC" }, { "locale": "hr-HR", "name": "YIELDDISC" }, { "locale": "hu-HU", "name": "HOZAM.LESZÁM" }, { "locale": "id-ID", "name": "YIELDDISC" }, { "locale": "it-IT", "name": "YIELDDISC" }, { "locale": "ja-JP", "name": "YIELDDISC" }, { "locale": "ko-KR", "name": "YIELDDISC" }, { "locale": "lt-LT", "name": "YIELDDISC" }, { "locale": "lv-LV", "name": "YIELDDISC" }, { "locale": "nb-NO", "name": "YIELDDISC" }, { "locale": "nl-NL", "name": "REND.DISCONTO" }, { "locale": "pl-PL", "name": "RENT.DYSK" }, { "locale": "pt-BR", "name": "YIELDDISC" }, { "locale": "pt-PT", "name": "LUCRODESC" }, { "locale": "ro-RO", "name": "YIELDDISC" }, { "locale": "ru-RU", "name": "ДОХОДСКИДКА" }, { "locale": "sk-SK", "name": "YIELDDISC" }, { "locale": "sl-SI", "name": "YIELDDISC" }, { "locale": "sr-Latn-RS", "name": "YIELDDISC" }, { "locale": "sv-SE", "name": "NOMAVKDISK" }, { "locale": "th-TH", "name": "YIELDDISC" }, { "locale": "tr-TR", "name": "ÖDEMEİND işlevi" }, { "locale": "uk-UA", "name": "YIELDDISC" }, { "locale": "vi-VN", "name": "YIELDDISC" }, { "locale": "zh-CN", "name": "YIELDDISC" }, { "locale": "zh-HK", "name": "YIELDDISC" }, { "locale": "zh-TW", "name": "YIELDDISC" } ], "signature": { "display": "YIELDDISC(settlement, maturity, pr, redemption, [basis])", "parameters": [ { "description": null, "name": "settlement", "optional": false, "repeats": false }, { "description": null, "name": "maturity", "optional": false, "repeats": false }, { "description": null, "name": "pr", "optional": false, "repeats": false }, { "description": null, "name": "redemption", "optional": false, "repeats": false }, { "description": null, "name": "basis", "optional": true, "repeats": false } ], "trailing_repeats": false }, "surface_name": "YIELDDISC", "version_marker": null, "xlcall": { "code": "437", "symbol": "xlfYielddisc" } }, "microsoft": "https://support.microsoft.com/en-us/office/yielddisc-function-a9dbdbae-7dae-46de-b995-615faffaaed7" }, "try_it": { "formula": "=YIELDDISC(DATE(2027,1,1),DATE(2027,1,31),96,100,2)" }, "url": "https://handbook.dnacalc.com/functions/YIELDDISC.html", "variants": [], "versions": [] }