BondCalc vs. BondScholar
| Feature |
BondCalc |
BondScholar |
| After Tax Analysis: |
Calculates, using correct method, for a wide variety of paper under different scenarios. Has dual personality (corporate or individual). Allows for ESOP exclusion, dividend exclusion and tax exempts. Uses purchase price and date to calculate tax basis. |
Yes. |
| O.A.S. and Zero Spot Pricing: |
Yes. Can enter OAS Spread or Option Free Yield and solve for price. |
No. |
| Varying Coupon Rate: |
Yes. User has complete control. Frequency can also change. |
No. |
| Serial Issues: |
Can fully handle bundled serial issues and price off yield curve. |
Only if single coupon rate. |
| Swap Analysis: |
Multiple issues allowed on each side of the swap. Calculates rollover breakeven and many pretax and A.T. numbers following Bloomberg methodology. |
Optional extra. One-for-one swap only. |
| Horizon Analysis: |
Yes, on-screen and reports. |
? |
| Make-whole Call Analysis: |
Yes. Can input future treasury yield or use implied forward rate from current yield curve. Has sensitivity report. |
No. |
| Doubleup Option: |
User sets actual percent. Also has maximum cap. Results are automatically calculated and displayed. |
Only doubles and does not store double option existence in security database. |
| On-screen Calculations: |
Runs and displays all logical results simultaneously, including worst/worst cases (doubled up and called). OAS numbers also displayed. Custom format available. |
User chooses which results to calculate. |
| Reports: |
Publication quality output. Custom report writer in Portfolio Section with over 200 columns to choose from. Also 100 predefined reports (with extensive footnoting). Automatically controls centering and formatting. Cash flow report automatically reconfigures for different security types. All reports and graph data can be made spreadsheet importable. |
User chooses columns. Column selection stored globally. No footnotes. Creates a spreadsheet file with some input, output and an amortization schedule. Several portfolio reports available as options. |
| Graphics: |
Presentation quality on any output device. Graphs can be edited before printing. Hundreds now available and more easily added. Maximum seven issues per line graph. |
Text characters and dot matrix only. Six different graphs available as options. Maximum three issues per line graph. |
6/24/1996