Daily DAX : Day 380 TBILLEQ

Power BI DAX: TBILLEQ Function

Overview

The TBILLEQ function in DAX calculates the bond-equivalent yield for a U.S. Treasury bill (T-bill). It is commonly used in financial modeling to compare the yield of a T-bill with that of a semiannual coupon bond.

Use Case: Comparing short-term Treasury bill returns with bond yields on a standardized basis.

Syntax

TBILLEQ(settlement, maturity, discount)

Parameters

Parameter	Description
settlement	The date when the T-bill is purchased (settlement date).
maturity	The date when the T-bill matures.
discount	The discount rate of the T-bill (as a percentage, e.g., 0.05 for 5%).

Return Value

Returns the bond-equivalent yield as a decimal (e.g., 0.055 for 5.5%).

Example

T-Bill Equivalent Yield = 
TBILLEQ(
    DATE(2025, 1, 15),   // Settlement date
    DATE(2025, 7, 15),   // Maturity date (6 months later)
    0.052                // 5.2% discount rate
)

Result: Approximately 0.0535 or 5.35% bond-equivalent yield.

Use Case in Power BI

• Financial dashboards tracking Treasury bill performance.
• Comparing T-bill yields with corporate bonds or other fixed-income securities.
• Portfolio analysis requiring standardized yield metrics.

Note: The difference between settlement and maturity must be ≤ 1 year, and T-bills are typically issued for 4, 8, 13, 26, or 52 weeks.