NON-FLUCTUATING

The characteristic of constancy in a security or measurement's value, rate of change or other metric. Non-fluctuating is a feature of a fixed-rate asset which has a constant yield, such as a government-issued debenture (which, however, the market price of the debenture will fluctuate as interest rates change.) A non-fluctuating characteristic is the opposite of a volatile characteristic where changes in value do occur. An investment that has non-fluctuating returns with little risk tends to have lower returns than investments that are exposed to volatility.