Do not count platform fees, dealing fees, and other expenses that are taken from your account.Dividends withdrawn from your account do count as negative cashflows because they are a reduction of your total return.So when you reinvest your dividends, their effect upon performance will show up in your portfolio’s total value. ![]() The reason is that we’re measuring total return here. Do not include dividends as a positive cashflow.The final rows in the formula (D17 and C17 in the example) refer to the grey ‘total portfolio value’ row. The XIRR formula is used in the annualised return cell that shows 16.87% in the example above. ![]() The dates formula is used in every cell of the dates column. The example below shows you how to use the XIRR formula to produce an annualised return using Google Sheets or Excel. Even if you hold a one-fund portfolio, your returns will differ from somebody else with the self-same portfolio due to your different trading histories. Tracking your portfolio using XIRR gives you a ‘personal return’ because it’s sensitive to your specific contribution and withdrawal history.
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