Average stated maturity
How many years remain, on average, until a bond fund's bonds reach the final repayment date written on them, each weighted by its share of the fund.
Signed in, this page is worked on the bond funds in your own portfolio, from their own reports. Sign in ›
Launch offer The paid plan, free for three months. No card. Create account ›
How it is computed here
Read line by line from the fund's Form N-PORT without keeping the lines: for every bond, the years from the report date to its stated maturity date, averaged with the bond's share of the fund as weight — and the same lines sorted into a ladder: under one year, 1–3, 3–5, 5–10, 10–20 and over 20. The average coupon beside it is built the same way from each bond's annualised coupon rate. Nothing is estimated: these are the dates and rates the fund lists.
Worked example
- BND's filing of 30 Jun 2026 lists every bond with the final repayment date written on it; weighted by each bond's share of the fund, those dates are 11.7 years away on average.
- The same weighting over each bond's annual coupon gives 3.86%.
- As shares of the fund, by years to that date: under 1 year 1.1%, 1–3 years 22.7%, 3–5 years 17.0%, 5–10 years 19.6%, 10–20 years 10.7%, over 20 years 27.7%.
- Of the 27.7% over 20 years, 16.7% is mortgage-backed or other securitised debt, which writes its legal final date although the money comes back much sooner.
- Its reported rate risk reads like a duration of about 5.8 years for its bonds — fewer than the 11.7 years to the written dates, because coupons and early repayments hand money back before the final date.
A real bond fund, opened with its public Form N-PORT on SEC EDGAR — the demo holds none. Signed in with bond funds of your own, this is worked on yours.
Where it misleads
It takes the final date at face value, and for some bonds that date is far from when the money comes back. A mortgage-backed bond can state a date thirty years away while homeowners repay and refinance long before, and callable bonds can be repaid early too, so a fund with a fifth in mortgages shows an average well above the effective maturity it publishes itself, which uses expected repayments. And maturity is not duration: coupons return part of the money along the way, and a floating-rate bond can mature in ten years and still barely move with rates. How much the fund moves with yields is its reported rate risk.