For both rental yield and dividend yield in my portfolio, I use DYOC (i.e. div_yield_on_cost) more than current_div_yield. However, benchmarks, online analysis/reports always use current_yield by default. The author can’t always assume an “initial investment” !

current_div_yield is sometimes labelled as “LTMDY” i.e lastTwelveMonthDividentYield

Another way to put it — before you buy, you use current_div_yield; you switch to DYOC once you buy.

• For non-traded assets like HY/PE and properties in lesser-known locations, current_div_yield is often same as DYOC.
• For stocks and funds (i.e. liquid assets), it’s unfair and misleading to compare realized DYOC numbers with published current_div_yield numbers , but we still compare them, quite often !