Find the annualized internal rate of return for dated cash flows with irregular timing, including extra contributions, withdrawals, and a final value.
When XIRR is the right rate
XIRR is the constant annual rate that makes the net present value of dated cash flows equal zero. Use it when contributions, withdrawals, dividends, or a sale land on irregular dates. Contributions are negative; receipts, withdrawals, dividends, and a final value are positive.
0 = Σ [Ci ÷ (1 + r)^((di − d0) ÷ 365)] Ci is the signed cash flow on date di; d0 is the earliest date r is the effective annual rate and must be greater than −100%
Example
Invest $100,000 on 1 January 2023, add $30,000 on 1 July 2023, receive $10,000 on 1 January 2024, and receive $150,000 on 1 January 2025. The solver uses those four dates. Dividing total received by total invested would ignore that the second contribution arrived later.
No unique rate
The series needs at least one negative amount, one positive amount, and two different dates. When signs change more than once, more than one mathematical rate can exist. This page reports a unique XIRR only when a single root is found in the search range.
Frequently asked questions
How should I sign the amounts?
From your point of view, money you put in is negative. Dividends, withdrawals, redemptions, and a final market value are positive.
What if the holding is not sold yet?
Add a positive amount on the valuation date equal to the holding’s value that day. The result still depends on that valuation.
Is XIRR the same as CAGR?
With only a beginning and ending value they can be close. Extra contributions or withdrawals make XIRR depend on both amount and date; CAGR uses only the endpoints.
Why can the page refuse to show a rate?
Repeated sign changes can produce several internal rates of return. A single XIRR would be misleading, so the page asks you to inspect the cash flows instead.