The best replacement for yield to maturity is current yield.

The best alternatives to yield to maturity are rated as following:
★★★★★  current yield
★★★★  coupon rate
★★★  yield to call
★★  interest rate
★★  rate of return
★★  yield to worst
★  expected return
★  bond price
★  spot rate
★  required return
★  discount rate
★  market rate
★  sec yield
★  internal rate of return
★  bond equivalent yield
  coupon
  cost of debt
  total return
  coupon interest rate
  market interest rate
  ytm
  effective annual yield
  yield
  effective yield
  required rate of return

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yield to maturity
current yield
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