what s the difference between coupon rate and ytm 
the coupon rate is the annual income an investor can expect to receive while holding a particular bond it is fixed when the bond is issued and is calculated by dividing the sum of the annual coupon payments by the par value at the time it is issued a bond s yield to maturity ytm and its coupon rate are the same the ytm is the percentage rate of return for a bond assuming that the investor holds the asset until its maturity date it is based on the sum of all of its remaining coupon payments and will vary depending on its market value and how many payments remain to be made 