Bond Calculators
For Bond Portfolio Management

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A comprehensive array of bond calculators that helps make bond (and bond fund) portfolio management quicker, easier, and a whole lot cheaper

This bond software does not have a database with bond data. So you can't input CUSIPs and have bonds come up. You have to get the data yourself and input them into the green-shaded input cells (as shown in the demo).

Bond Calculator Functions

Customers' say they had to spend $250 to get YieldBook or Bloomberg to run these numbers just once. Now you can do it yourself, as many times as you need, for less than a penny on their dollar, without the hassle, any time, in minutes. Calculate:

º Macaulay and modified duration and convexity of each bond, and the whole bond portfolio combined (both weighted using market values, and unweighted).

º Estimated percentage and current market price changes in dollars due to both modified duration and convexity, separately, and then both of them combined. All at the individual bond level, and at the overall bond portfolio level.

º The bond portfolio's average credit quality rating and weighted average credit quality rating, using both Moodys and S&P credit rating schedules.

º The average inputted yield to maturity of the bond portfolio.

º Average maturity and weighted average maturity of the combined bond portfolio.

º Average current market price of all of the bonds entered (input in percentage of par format).

º Average coupon of all of the bonds entered.

º Average bond portfolio yield and weighted average bond portfolio yield.

º Total number of bonds included into the portfolio.

º Total current market value of all of the bonds included in the portfolio.

º Total maturity value of all of the bonds included in the portfolio.

º Each bond's percentage make up of the total bond portfolio.

º Each bond's average total return over its life in the portfolio.

º Excel's IRR formula is used to amortize premiums and discounts.

º How many coupons it takes to recoup premium.

º Each bond's cash flows over the whole thirty-year window. Great for analyzing laddered bond portfolios.

º Year-by-year total cash flows from all of the bonds combined for all thirty years. Also shown are the cash flows from just the coupons, and just the maturity proceeds. All are also summed so you can see the total amount of net inflows into the portfolio each year over the thirty-year window.

º Turn individual bonds on or off with one switch to simulate adding or deleting them from the portfolio. With one keystroke, you can deselect a single bond, so all of its input is ignored. And then bring it back with one keystroke.

º It computes days to maturity (or call on the next sheet) automatically (because it uses your computers current date as a reference). It automatically determines the numbers of days until maturity when you input the maturity date.

º You can input an alternative valuation date, if other than today. For example, if you need to calculate duration as part of year-end reporting in January, and the bond's valuation date needs to be the last day of the previous year, you can do that.

Sheet 2: 100-Bond portfolio duration and convexity to call calculator. Same as the 100-bond calculator sheet described above, but computes duration to call and convexity to call numbers based on data input into the regular 100-bond calculator sheet. Just input the call dates and proceeds and see worst-case call values.

Sheet 3: Single-bond duration calculator and bond convexity calculator: Easily calculate all of the usual duration and convexity numbers, and see how changes in interest rates change the price of a bond in greater detail. You can input an alternative valuation date, if other than today. For example, if you need to calculate duration as part of year-end reporting in January, and the bond's valuation date needs to be the last day of the previous year, you can do that.

Sheet 4: Determine bond yield to maturity (or bond yield to call) down to a very high level of accuracy (third decimal place). The YTM calculator works with interest rates from 1% to 20%.

º You can input an alternative valuation date, if other than today. For example, if you need to calculate yield to maturity as part of year-end reporting in January, and the bond's valuation date needs to be the last day of the previous year, you can do that.

º Compute a coupon bond's current fair market value, and total return considering the reinvestment of coupons.

º Compute a zero coupon bond's current fair market value and bond yield to maturity (or bond yield to call).

º Compute a zero coupon bond's accretion (annual inputted tax liability).

º Muni vs. taxable bond breakeven rate calculator.

º T-bill yield and/or T-bill current market price finder.

º Bond equivalent yield - used to turn the 360-day T-bill rate into the 365-day rate.

º Simple current yield calculator.

º CD equivalent yield (AKA money market equivalent yield - used to compare T-bills to 360-day money market instruments).

Sheet 5: Calculate annual amortization of premium and discounts on up to 25 coupon bonds. It first strips off any accrued interest the buyer has to refund to the seller. Then it displays all of the annual amortization, interest, basis, and taxes for every year to either sale or maturity, up to 20 years. It pro-rates everything given purchase and sale/maturity dates. It keeps track of basis and the amount of capital gain or loss if sold before maturity. Works with any type of coupon bond, including munis.

Sheet 6: Zero coupon bond accretion. Input up to 25 zero coupon bonds, and see the annual accretion/basis, and taxes due, on all 25 bonds together and all individual bonds, up to 50 years. There's a graph to show all of the accretion and taxes combined. Works with any type of coupon bond, including municipals.

Sheet 7: Bond total return calculator using the most accurate method - Horizon Return. Compute total return considering everything including the compounding of reinvested coupon interest and capital gain/loss when sold. Compare bond prices and yields before purchasing or selling them.

Sheet 8: Multi-year bond software. Input up to ten bonds and you can get an overall portfolio yield (IRR) up to 50 years.

Sheet 9: Single-year bond investing software. Input up to 50 bonds and get a one-year overall portfolio yield (IRR).

Sheet 10: Calculate differences in interest rates given several different compounding periods. Two graphs.

Sheet 11: Input and compare, on the same page, the growth (or shrinkage) of money given the three compound interest rates of return. It has one column for simple interest; one compound interest column has a year-by-year manual override (so you can have a different rate of return every year), and a graph sheet. You can also add new money to the picture every year.

Sheet 12: An array of convertible bond calculators.

Sheet 13: Portfolio Yield Calculator - calculates the combined average income/dividend yield on your total portfolio; how much income, or paycheck, your total portfolio will produce on a daily, weekly, monthly, and annual basis; how much as a percent each asset is of the total portfolio; and how much each asset is estimated to pay out on a daily, weekly, monthly, and annual basis. You just enter three data points (asset name, dollar amount of it held, and its annualized estimated yield - get it from the fund's prospectus, website, Morningstar, other source, or guess) into the green shaded areas, and it automatically computes the numbers. You can enter up to 100 assets.

To download the non-functional demo, right click on the link below, then choose "Save (Target) As..." to save to a folder on your hard drive. Then open it with MS Excel. Sometimes the WPP's server doesn't work well with weird browsers, or it just may not work if it's not configured right. Plus you won't be able to print well from your browser. Please send e-mail if you have any problems, and it will be sent to you. Answers to frequently asked demo questions, and how to use demos.

This bond calculator's free "demo" has the most functional FREE bond yield to maturity calculator ever to exist on the web! Download the 7.5Mb "demo" now

The bond yield to maturity calculator part of the spreadsheet has its formulas intact. The rest of "demo" is non-functional because it's password protected without formulas. You won't be able to do anything but look at it. You'll receive a non-input-protected 14Mb bond calculator spreadsheet (2.5Mb zip file) after you buy it.

It helps to read the directions while you look at the demo.

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