Holding-Period Yield

Holding-Period Yield (HPY)

The rate of return (including any interest or dividends paid during the holding period) actually realized on an investment in a bond.

Holding Period Return

The return on an investment during the time one holds the investment. The HPR is calculated by taking the income and other gains on the investment and dividing it by the historical cost. It is a useful way to compare the expected return to the actual return. The HPR may be calculated for any type of investment. It is also called the holding period yield (HPY).