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Money-Weighted Return Calculator
Calculate your true personal investment return (IRR) — accounting for the exact size and timing of every deposit and withdrawal you made.
Money-Weighted Return (MWR / IRR)
Your personal return
Accounts for when you invested — large deposits before a crash hurt your MWR. Best for understanding your actual financial outcome.
Time-Weighted Return (TWR)
The portfolio's return
Eliminates cash flow timing effects. Best for evaluating fund manager skill or comparing to a benchmark index.
Cash Flows
Type
Label
Date
Amount
↓
$
↓
$
↓
$
↑
$
◆
$
↓ Deposit — money you put in↑ Withdrawal — money you took out◆ Ending Value — current portfolio value
Cash Flow Summary
| Type | Label | Date | Amount | Days from Start | IRR Sign |
|---|---|---|---|---|---|
| ↓ Deposit | Initial Investment | 2022-01-01 | $50,000.00 | 1 | −$50,000.00 |
| ↓ Deposit | Additional Deposit | 2022-07-01 | $10,000.00 | 181 | −$10,000.00 |
| ↓ Deposit | Additional Deposit | 2023-01-01 | $10,000.00 | 365 | −$10,000.00 |
| ↑ Withdrawal | Partial Withdrawal | 2023-06-01 | $5,000.00 | 516 | +$5,000.00 |
| ◆ Ending | Ending Portfolio | 2024-01-01 | $82,000.00 | 730 | +$82,000.00 |
IRR Sign convention: Deposits are negative (cash out of your pocket) and withdrawals + ending value are positive (cash back to you). MWR finds the rate that makes NPV = 0.
Frequently Asked Questions