Portfolio return
Calculate return from dated cash flows (XIRR), plus linked subperiod returns (TWR) when portfolio valuations are available.
What the figures mean
- Annual return using actual dates (XIRR)
The return uses the amounts and actual dates of investments and payouts. It is annualised on a 365-day basis, not a simple average of percentages.
Simple example: €100 invested on 01.01.2025 and €120 received on 01.01.2026 give 20% a year.
- Return excluding external contribution effects (TWR)
Subperiod returns are compounded while contributions and withdrawals are separated from investment gains. This helps assess the portfolio itself rather than the amount added.
Simple example: A gain of 10% followed by a loss of 10% gives 1.10 × 0.90 − 1 = −1%, not 0%.