---
title: "OutputInterestRateRisk"
url: "https://developer-beta.morningstar.com/apis/portfolio-xray-api/versions/4c9879bf-1def-4f49-adea-5a04cd02e29e/schemas/OutputInterestRateRisk"
---

> Full API specification: https://developer-beta.morningstar.com/apis/portfolio-xray-api/versions/4c9879bf-1def-4f49-adea-5a04cd02e29e.md

# OutputInterestRateRisk

Interest rate risk data for the portfolio and benchmark.

## OpenAPI definition

```yaml
openapi: 3.1.0
info:
  title: Portfolio X-Ray API
  version: "1.0"
servers:
  - url: https://www.us-api.morningstar.com
    description: Americas Production
  - url: https://www.apac-api.morningstar.com
    description: APAC Production
  - url: https://www.emea-api.morningstar.com
    description: EMEA Production
components:
  schemas:
    OutputInterestRateRiskItem:
      type: object
      properties:
        Maturity:
          type: number
          format: double
          description: Weighted average maturity of portfolio holdings.
        MaturityPercentAnalyzed:
          type: number
          format: double
          description: Percentage of portfolio maturity analyzed.
        YieldToMaturity:
          type: number
          format: double
          description: Holding-weighted average yield of all applicable holdings. Ignores
            the impact of option features such as calls or puts.
        ModifiedDuration:
          type: number
          format: double
          description: Holding-weighted average price sensitivity to interest rate
            changes, excluding the impact of option features. Expressed in
            years.
        EffectiveDuration:
          type: number
          format: double
          description: Holding-weighted average price sensitivity to interest rate
            changes, including the impact of option features. Expressed in
            years.
        EffectiveDurationPercentAnalyzed:
          type: number
          format: double
          description: Percentage of portfolio effective duration analyzed.
        WTDCoupon:
          type: number
          format: double
        WTDPrice:
          type: number
          format: double
        AverageCreditQuality:
          type: number
          format: double
          description: Morningstar proprietary measure of overall portfolio credit risk,
            derived from historical default rates associated with each credit
            rating level.
    OutputBenchmarkInterestRateRiskItem:
      type: object
      properties:
        Maturity:
          type: number
          format: double
          description: Weighted average maturity of benchmark holdings.
        YieldToMaturity:
          type: number
          format: double
          description: Holding-weighted average yield of all applicable holdings. Ignores
            the impact of option features such as calls or puts.
        ModifiedDuration:
          type: number
          format: double
          description: Holding-weighted average price sensitivity to interest rate
            changes, excluding the impact of option features. Expressed in
            years.
        EffectiveDuration:
          type: number
          format: double
          description: Holding-weighted average price sensitivity to interest rate
            changes, including the impact of option features. Expressed in
            years.
        WTDCoupon:
          type: number
          format: double
        WTDPrice:
          type: number
          format: double
        AverageCreditQuality:
          type: number
          format: double
          description: Morningstar proprietary measure of overall portfolio credit risk,
            derived from historical default rates associated with each credit
            rating level.
    OutputInterestRateRiskItemSecurity:
      type: object
      properties:
        SecurityId:
          type: string
          description: Unique identifier of a security.
        InterestRateRiskItem:
          $ref: "#/components/schemas/OutputSecurityInterestRateRiskItem"
    OutputSecurityInterestRateRiskItem:
      type: object
      properties:
        Maturity:
          type: number
          format: double
          description: Weighted average maturity of the security.
        EffectiveDuration:
          type: number
          format: double
          description: Holding-weighted average price sensitivity to interest rate
            changes, including the impact of option features. Expressed in
            years.
        WTDCoupon:
          type: number
          format: double
        AverageCreditQuality:
          type: number
          format: double
          description: Morningstar proprietary measure of credit risk, derived from
            historical default rates associated with each credit rating level.
    OutputInterestRateRisk:
      description: Interest rate risk data for the portfolio and benchmark.
      type: object
      properties:
        AsOfDate:
          type: string
          format: date-time
          description: End date of analysis.
        Portfolio:
          $ref: "#/components/schemas/OutputInterestRateRiskItem"
        Benchmark:
          $ref: "#/components/schemas/OutputBenchmarkInterestRateRiskItem"
        SecurityBreakdown:
          type: array
          items:
            $ref: "#/components/schemas/OutputInterestRateRiskItemSecurity"
```