Portfolio Return Calculator
Measure overall portfolio performance from asset values, or use dated cash flows to compare time-weighted and money-weighted returns.
Portfolio Return Calculator
Assets
Contributions / Withdrawals
Deposits are positive, withdrawals negative. Add the portfolio value just before each flow to get a time-weighted return.
Portfolio Return
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Annualised Return
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Gain / Loss
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Start Value
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End Value
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Net Contributions
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Return by component
Assumptions & method
- Asset blend: blended return = (total end value ÷ total start value) − 1, which equals the sum of each asset’s start-value weight × its return. Weight = asset start value ÷ total start value. No flows occur during the period.
- Time-weighted return (TWR): the period is split at every cash flow. Each sub-period return = value before the next flow ÷ (previous value + flow) − 1. TWR = the product of (1 + sub-period return) − 1. It removes the effect of flow timing and needs a valuation just before each flow.
- Money-weighted return (MWR): the internal rate of return of the flows. Start value and deposits are outflows, withdrawals and the ending value are inflows. The rate is solved numerically on a monthly basis and annualised as (1 + monthly IRR)12 − 1.
- Flows are placed at the stated month, between 0 and the total period. Annualised figures extrapolate the period result and are less meaningful for short periods. Income is assumed to be included in the values; taxes and fees are not modelled.
Results are estimates based on the figures you enter, not guarantees of future performance. Figures are shown in ₹ for consistency across this site; the maths works for any currency.
Breakdown
Time-weighted vs money-weighted return
Two investors can hold the same fund and report different returns. The reason is cash flow timing. A time-weighted return (TWR) neutralises deposits and withdrawals, so it measures how the underlying investments performed. It is the standard way to compare a manager or a portfolio with a benchmark.
A money-weighted return (MWR) is the IRR of your actual cash flows, so it rewards good timing and punishes bad timing. It answers a personal question: what return did my money earn given when I put it in? Use the asset-blend mode when you only have start and end values and no flows.