XIRR Calculator
Remaining value is a terminal inflow for calculation, not a withdrawal. Do not include it again as a receipt.
Investments are money paid out; receipts include withdrawals and cash distributions. All flows must use the same currency.
Actual days / 365. Search range: -99.9999% to 999,900%. Sign-changing roots are scanned; tightly spaced or touching roots may be missed. No tax or fee is added automatically.
Present value at your benchmark
XNPV discounts every net flow to the earliest non-zero net cash-flow date. A positive value means discounted receipts exceed discounted investments at this rate. It remains useful when XIRR is ambiguous.
Measure the return on the money you actually invested
Deposits made at different times have different amounts of time in the market. XIRR measures a money-weighted annual return using the dates and sizes of external cash flows. It is useful for a SIP with irregular installments, a portfolio with withdrawals, or an investment with cash distributions. It is not a time-weighted fund-manager performance score.
Worked example
An investment of Rs 1,00,000 on 1 January 2021 and a receipt of Rs 1,21,000 on 1 January 2023 has an XIRR of 10%. For a non-conventional example, paying Rs 100, receiving Rs 230 one year later and paying Rs 132 after another year yields two valid rates: 10% and 20%. Neither should be presented alone as a unique return.
Formula and calculation method
XNPV(r) = sum[cash flow / (1 + r)^(days since reference date / 365)]; XIRR solves XNPV(r) = 0Dates are validated as real calendar dates from 1900 through 2200, sorted and netted by day. Calculations use UTC calendar days, not time-of-day intervals. The solver scans 4,096 intervals in log(1 + rate), then refines sign-changing brackets by bisection. Search bounds are -99.9999% through 999,900% annually. A candidate is accepted only when its normalized discounted residual is below 1e-9. This bounded scan can miss tightly spaced or touching roots and is not a proof that all roots have been found.
Interpretation and limitations
Money invested is negative; money received and a remaining portfolio valuation are positive. Add the ending valuation only once, on or after the last actual cash flow. At portfolio level, trades within the account are not external contributions or withdrawals. Include external fees and taxes as dated outflows only when they are not already reflected elsewhere. All entries must use the same currency. XNPV provides a benchmark-based present-value comparison even when XIRR is ambiguous.
Reference: Microsoft: XIRR definition and worked example.
Common questions
Should I enter the current value of an unsold portfolio?
Yes, when measuring performance up to that valuation date. Enable remaining portfolio value and enter the value once. It is a hypothetical terminal inflow, not a cash withdrawal.
Why can there be multiple XIRR results?
When chronological net cash flows switch between positive and negative more than once, the discounted equation can have multiple roots or none. This calculator flags such flows and displays detected candidates without selecting a unique headline return.
Will it always match Excel?
Both use actual days / 365, but this solver uses bounded scanning and bisection rather than Excel's guess-driven iteration. Conventional examples should agree within numerical tolerance. Non-conventional flows can produce different roots, and a bounded scan can miss roots.
Does the calculator upload my cash flows?
The calculator computes in your browser. It does not send cash-flow inputs to a calculation server or save them automatically. CSV export is a local browser download.