Kötvénytípus

Kötvénytípus refers to the classification of bonds based on various characteristics. Bonds are debt securities, and their types help investors understand the associated risks and returns.

One primary classification is by issuer. Government bonds, issued by national governments, are generally considered low-risk. Corporate bonds, issued by companies, carry higher risk than government bonds but typically offer higher yields. Municipal bonds, issued by local governments, have varying risk profiles depending on the financial health of the issuer.

Another important categorization is by maturity. Short-term bonds, maturing in one to three years, are less sensitive to interest rate changes. Medium-term bonds typically mature in three to ten years. Long-term bonds, with maturities exceeding ten years, are more susceptible to interest rate fluctuations and inflation risk.

Bonds can also be classified by their coupon structure. Fixed-rate bonds pay a constant interest rate throughout their life. Floating-rate bonds have an interest rate that adjusts periodically based on a benchmark rate. Zero-coupon bonds do not pay periodic interest but are sold at a discount to their face value and redeemed at face value upon maturity.

Further distinctions include secured versus unsecured bonds. Secured bonds are backed by specific collateral, offering greater protection to bondholders. Unsecured bonds, or debentures, are backed only by the general creditworthiness of the issuer. Convertible bonds offer bondholders the option to convert them into shares of the issuing company's stock. These various kötvénytípus categories allow investors to tailor their portfolios to their specific financial goals and risk tolerance.