Kötvényhozam

Kötvényhozam refers to the return an investor receives from holding a bond. It is typically expressed as an annual percentage. There are several ways to calculate and understand kötvényhozam, the most common being the coupon rate and the yield to maturity.

The coupon rate is the fixed interest rate that the bond issuer promises to pay to the bondholder, usually expressed as a percentage of the bond's face value. For example, a bond with a 5% coupon rate and a face value of $1,000 will pay $50 in interest annually.

Yield to maturity (YTM) is a more comprehensive measure that considers the bond's current market price, its face value, its coupon rate, and the time remaining until it matures. YTM represents the total return anticipated on a bond if it is held until it matures. It takes into account both the interest payments and any capital gain or loss from the difference between the purchase price and the face value at maturity. If a bond is trading at a discount (below its face value), its YTM will be higher than its coupon rate, and if it's trading at a premium (above its face value), its YTM will be lower than its coupon rate.

Understanding kötvényhozam is crucial for investors to compare different bonds and make informed investment decisions. It helps assess the profitability and risk associated with a particular bond investment. Factors such as interest rate changes, credit risk of the issuer, and time to maturity all influence a bond's yield.