> For the complete documentation index, see [llms.txt](https://fija.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://fija.gitbook.io/docs/overview/strategy-kpis/apy.md).

# APY

Each strategy is backtested using **available data from the blockchain**. For each strategy and vault, fija calculates different APYs (daily, weekly, monthly & lifetime). These APYs are used internally and are calculated by annualizing the difference between the token prices of the respective time period. For example, for the 1 month APY, the difference between the token price today and the token price 30 days ago is calculated and annualized. For external use and to display to customers, fija uses a different method to calculate an APY. Here, a 45 day projection is used that builds a linear regression through the token price over the last 45 days to arrive at the expected APY. This method is mainly used due to the fact that strategies have different harvesting cycles (7 or 30 days) which can lead to sudden jumps in the token price. As a classic APY calculation is heavily focused on the endpoints, a trend projection gives a more accurate APY projection in this case.

<figure><img src="/files/oO9SIXEUv1m1osZXmtbP" alt=""><figcaption><p>Exemplary token price chart and APY linear projection</p></figcaption></figure>

**All internal and Partner facing APYs** are always **gross** values, while **all end customer facing APY** are always **net** values (reduced by the 25% profit share).

All vaults and strategies contain the above APY information and it can be obtained by our partners via the partner API and displayed to their customers.


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