What is yield-to-maturity (YTM) and how is it calculated?

Yield-to-maturity (YTM) refers to the rate of return one is expected to receive on a bond assuming it is held to maturity and all coupon or interest payments are reinvested. In the case of the Lion-MariBank SavePlus fund, the YTM refers to the weighted average YTM of all the underlying instruments within the fund. In other words, it is the yield of the underlying instruments weighted by their relative size within the fund.

For more details, you may refer to the fund brochure by tapping SavePlus, then View Fund Brochure.

How does YTM differ from historical return? Will historical return always be the same as YTM?

YTM is a forward-looking estimate of future anticipated cash flows, presented on an annualised basis. It is calculated and refreshed monthly by the fund manager, and may fluctuate depending on the underlying instruments within the fund.

Return or historical return is calculated based on actual historical fund prices and serves as a snapshot of the fund's past performance. For example, a last 4-week historical return serves as a snapshot of the fund's performance within a past 4-week timeframe, whereas daily historical return captures the fund's performance on a past 1-day basis.

You may refer to the fund factsheet for the latest updated YTM via the following steps:

1. Log into the MariBank app

2. Tap Mari Invest

3. Tap SavePlus

4. Scroll down and tap View Fact Sheet