Use the investor's perspective
Money you invest is negative. Redemptions, dividends and the current portfolio value are positive.
MEASURE WITH CLARITY
Calculate your investment return
Investment details
Build the dated cash flows for your investment.
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Entered as an outflow in the calculation
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Manual cash flow entries
Use negative values for money invested and positive values for money received.
− Investment+ Receipt
XIRR, EXPLAINED
One return that respects every date
XIRR finds the annual rate that makes the present value of all dated investments and receipts equal to zero. That makes it more useful than CAGR when money moves in or out along the way.
Use exact dates
A contribution made earlier has more time to work. XIRR accounts for the actual number of days between cash flows.
Close an open investment
If you still hold the investment, enter its current value as a positive cash flow dated today.
How the calculation works
The calculator solves for the rate where the dated net present value is zero, using 365 days per year.
0 = Σ Cash Flowᵢ ÷ (1 + XIRR) ^ ((Dateᵢ − First Date) ÷ 365)XIRR questions, answered clearly
XIRR is the annualised rate of return implied by all your investments and receipts on their actual dates. It is especially useful when cash flows are irregular or occur more than once.
CAGR assumes one beginning value and one ending value. XIRR accounts for every contribution, withdrawal and distribution, so it is generally the better measure for SIPs, top ups, partial redemptions and portfolios with irregular activity.
Use negative values for money leaving you, such as purchases or SIP installments. Use positive values for money received, such as dividends, withdrawals, redemptions, maturity proceeds or the current value of an investment you still own.
A return can only be inferred when the series includes money invested and money received or valued. With cash flows of only one sign, there is no rate that can make their net present value equal zero.
Add the investment's current market value as the final positive cash flow and use the valuation date, commonly today. Include any earlier dividends or withdrawals as separate positive cash flows.
The calculator uses the same core equation as Excel XIRR: exact date differences with a 365 day year. For cash flow patterns with more than one mathematical solution, it uses an iterative calculation beginning with Excel's default 10% guess.
A negative XIRR indicates an annualised loss. A very high XIRR can occur when a gain is earned over a short period, because the return is annualised. Check every sign, amount and date before relying on an extreme result.
Yes. When cash flows switch between positive and negative more than once, the XIRR equation can have multiple valid solutions. The calculator warns when it detects this, and the economic meaning should be reviewed carefully.
No. XIRR reflects only the cash flows you enter. Include fees, taxes or other charges in those flows if you want a return after those costs. Inflation is separate and can be used to assess the return in real purchasing power terms.
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This calculator provides estimates for educational purposes only. XIRR is sensitive to the accuracy, timing and signs of cash flows, and past returns do not guarantee future performance. Taxes, fees and market conditions may affect actual results. Please consult a qualified financial adviser before making investment decisions.