Daily DAX : Day 315 COUPDAYS

COUPDAYS DAX Function

Description

The COUPDAYS function in Power BI DAX calculates the number of days in the coupon period that contains the settlement date for a security with periodic interest payments.

Syntax

COUPDAYS(settlement, maturity, frequency, [basis])

Parameters

• settlement: The security's settlement date (date of purchase).
• maturity: The security's maturity date (when it expires).
• frequency: Number of coupon payments per year (1 = annual, 2 = semi-annual, 4 = quarterly).
• basis (optional): Day count basis (e.g., 0 = US 30/360, 1 = actual/actual). Defaults to 0 if omitted.

Return Value

A number representing the total days in the coupon period that includes the settlement date.

Use Case

The COUPDAYS function is used in financial analysis to determine the length of the coupon period for bonds or other fixed-income securities. This helps calculate accrued interest or evaluate bond pricing. For example, an analyst might use it to compute the interest earned between coupon payments for a semi-annual bond.

Example

AccruedInterest = 
    COUPDAYS(
        DATE(2023, 1, 15), // Settlement date
        DATE(2025, 1, 15), // Maturity date
        2,                  // Semi-annual payments
        1                   // Actual/actual basis
    )
    

Result: If the coupon period is 182.5 days (half a year on actual/actual basis), the function returns 182.5.

Notes

• Dates must be valid and entered as DATE function or date serial numbers.
• frequency must be 1, 2, or 4.
• basis ranges from 0 to 4, corresponding to different day-count conventions.
• Ensure settlement date is before maturity date to avoid errors.