DEFINITION of 'Seven Day Yield'
Interest earned on a money market mutual fund without the compounding interest. This yield is the dividend and interest earned by the fund, and paid out during the sevenday period, minus any management fees incurred during those seven days. Also referred to as the sevenday annualized return.
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BREAKING DOWN 'Seven Day Yield'
For example, let's say one share of the fund was $18 in the beginning of a sevenday period, and $18.05 at the end of that same sevenday period. Fees for that week were 3 cents.
SevenDay Annualized Yield
=((18.05  18.00  0.03)/18.00) x 365/7
=0.0579 or 5.79%
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