This calculates the years between two dates using the Actual/Actual ISDA day basis convention. This convention counts the number of calendars between the start and end dates. The definition of a year is contingent on whether the year is a leap year or not. The year fraction is calculated as: $$ \frac{d_1}{{dy}_1} + \frac{d_2}{{dy}_2} + y_2 - y_1 - 1 $$
actual_actual_isda(date1, date2)A date-time object
A date-time object
a numeric value representing the number of years between
date1 and date2.
where:
\(d_1\) is the remaining days in the first date's year including both the start and end date
\(d_2\) is the number of days to the second date from the start of that year
\({dy}_1\) is 366 if the first date is in a leap year. Otherwise it is 365
\({dy}_2\) is 366 if the second date is in a leap year. Otherwise it is 365
The order of date1 and date2 is not important. If date1
is less than date2 then the result will be non-negative. Otherwise,
the result will be negative.
Other counter methods: actual_360,
actual_365,
is_valid_day_basis,
thirty_360_eu_isda,
thirty_360_eu_plus,
thirty_360_eu, thirty_360_us,
thirty_360, year_frac