Fidelis Net Yield

Secondary market

Est. net yield uses the last trade as clean price and your fee settings. Click a bond for live bid/ask.

Bond	Coupon	Last	Matures	Est. net

or type the details below

Clean price % of par Coupon % Maturity Quantity bonds × 100 Trade date Settlement T+ Opportunity rate % your fronted cash could earn elsewhere

Net yield (XIRR) –

Dirty price –

Dead-money cost –

Fees –

annualised, basis points (1 bp = 0.01%)

Commission % Minimum RON Fixed per order RON EUR/RON for EUR bonds Commission is charged on the dirty value (price + accrued)

Defaults are editable assumptions, not quotes. Check the current schedule on tradeville.ro/tarife. Subscribing in a Fidelis offer has no commission.

Sell before maturity

On a sale the buyer pays you the accrued interest, and the same commission applies. Fidelis coupons are tax-free; a gain on sale may be taxable.

yield lost (bp/yr) if you bought this bond on each day of the current coupon period

Date	Event	Amount	Notes

How this is calculated

Accrued interest = coupon × days since the last coupon ÷ days in the coupon period (ACT/ACT). Coupons fall yearly on the maturity's day and month. You pay it to the seller and get it back inside the next full coupon.
Dead money: the accrued you front earns nothing until the next coupon. In lei it is accrued × opportunity rate × days to the coupon. In yield terms it is the gap between the coupon and the XIRR of buying at par plus accrued. It is largest mid-cycle and zero right after a coupon, and it is paid once: after the first coupon your money is back to par.
Price effect: buying above par loses the premium at maturity; below par gains it.
Fees: commission (on dirty or clean value, with a minimum) plus any fixed fee, at purchase and at sale if you exit early.
Net yield is the XIRR of every dated cash flow (ACT/365, annual compounding). Buying at par in the primary offer with no fees gives exactly the coupon, so every bp below the coupon is a cost of the secondary market.
Not modelled: bank holidays in settlement, ex-coupon record-date edge cases, tax on sale gains.