XIRR Calculator

What is XIRR?

XIRR stands for Extended Internal Rate of Return. It is the single annualised rate of return that makes the net present value (NPV) of a series of cash flows equal to zero — where each cash flow can happen on any date. In other words, XIRR is simply IRR that understands calendar dates instead of assuming every cash flow lands neatly at the end of each year.

Most real investments do not follow a tidy yearly schedule. You might invest a lump sum in January, add more in April, withdraw some in November, and redeem the rest two years later. Because the timing of money has a huge effect on returns, XIRR is the correct way to measure performance whenever your cash flows are spread across irregular dates.

This is exactly why XIRR is the return figure shown by nearly every mutual fund platform in India — Groww, Zerodha Coin, Kuvera, Paytm Money and the CAMS/KFintech statements all report your portfolio return as XIRR. If you invest through a SIP, buy stocks in tranches, or hold ELSS, PPF or NPS alongside market investments, XIRR is the single most reliable way to know your real annualised return in rupees.

XIRR vs IRR — what's the difference?

IRR and XIRR answer the same question — "what annual return did this investment earn?" — but they make very different assumptions about timing:

If your cash flows genuinely arrive once per period, use our IRR Calculator. If they arrive on irregular dates, XIRR is the right tool.

XIRR Formula

XIRR is the rate r that solves the extended net present value equation. Using the actual/365 day-count convention — the same one Microsoft Excel uses — the formula is:

0 = ∑ C_i ÷ (1 + r)^{(d_i − d₀) / 365}

Where:

• C_i = the cash flow on date i (negative for money invested, positive for money received)
• d_i = the date of that cash flow
• d₀ = the date of the first cash flow
• r = the XIRR (the value we solve for)

There is no closed-form solution for r, so it is found numerically through iteration. This calculator solves it instantly for you using the Newton-Raphson method with a robust bisection fallback, so you always get an accurate result.

How to Calculate XIRR — with examples

The two examples below match the two modes of the calculator above — a regular SIP, and a set of irregular cash flows.

Example 1 — SIP / Regular mode

Suppose you run a ₹5,000 monthly SIP in a mutual fund for one year (12 instalments), and a year after starting, the folio is worth ₹65,000. In SIP mode you would simply enter ₹5,000 as the amount, choose Monthly, set the start and today's dates a year apart, and enter ₹65,000 as the current value:

The calculator builds all 12 instalment dates for you and solves for the rate, giving an XIRR of 15.67%. Notice this is much higher than the simple ₹5,000 gain on ₹60,000 (about 8.3%) — because each instalment was only invested for part of the year, XIRR annualises the return correctly.

Example 2 — Custom / Irregular mode

Now suppose you invest a lump sum and later take money out in parts on uneven dates. In custom mode you add a row for each transaction and mark it as an Investment or a Withdrawal:

Solving the XIRR equation for these irregular, dated cash flows gives an XIRR of 17.11% — a single annualised return that fully respects the exact date of every transaction.

How to calculate XIRR using this calculator

Our XIRR calculator gives you two easy ways to enter your investment, so you never have to build a spreadsheet:

1. SIP / Regular mode

Perfect for a mutual fund SIP or any fixed recurring investment. Just enter:

• The amount you invest each time (for example, your ₹5,000 monthly SIP).
• The frequency — 14 days, monthly, quarterly, half-yearly or yearly.
• The start date and the maturity / today's date.
• The current or maturity value of your investment.

The calculator automatically creates every instalment date for you and returns your XIRR — exactly the way your mutual fund app does.

2. Custom / Irregular mode

Best when your cash flows happen on uneven dates — lump-sum buys, extra top-ups, partial withdrawals or dividends. For each row simply:

• Pick the date and enter the amount.
• Choose Investment for money you put in or Withdrawal for money you take out (or your current value) — no minus signs to remember.
• Use "Add Row" or "Delete Row" to match your number of transactions.

In both modes you need at least one investment and one return, because a rate of return is only meaningful when money is both put in and taken out.

What your XIRR result shows

Unlike a basic calculator that only prints a percentage, this tool gives you a complete, easy-to-read breakdown of your investment the moment you hit calculate:

• Your XIRR % — the annualised return, shown large and colour-coded by quality.
• Total invested — the sum of everything you put in.
• Total value / returns — the sum of everything you received or your current value.
• Net gain or loss — how much your money actually grew (or fell) in rupees.
• Absolute return & duration — your overall percentage gain and the time span of the investment, so you can see it next to the annualised XIRR.
• A visual donut chart — splitting your final value into invested capital versus gains at a glance.
• A benchmark verdict — an instant read on whether your XIRR beats Indian inflation (~6%), a bank FD or PPF (~7%) and the Nifty 50 / Sensex (~12%).
• A full cash-flow table you can download as CSV or print / save as a PDF for your records.

XIRR for Mutual Funds and SIPs

XIRR is the go-to metric for measuring the return of a SIP (Systematic Investment Plan) or any mutual fund portfolio with multiple purchases and redemptions. Each SIP instalment is a separate dated outflow, and the current value or redemption amount is a dated inflow. Because a SIP spreads investments across many different dates, a simple average return is misleading — XIRR is the only way to get a true, annualised picture of how your fund has actually performed.

To calculate the XIRR of your own SIP, use SIP / Regular mode above — you don't have to type out every instalment by hand. Just enter your monthly amount, pick Monthly, set your start and today's date, and enter the folio's current value. For example, a ₹5,000 monthly SIP that is worth ₹1,20,000 today takes four inputs and returns the same XIRR your Groww, Zerodha Coin or CAMS statement would show. If your instalments were not identical, switch to Custom / Irregular mode and add each one as its own row.

SIP mode also covers weekly-style 14-day SIPs, quarterly and yearly investments. For more complex cases — step-up SIPs where the instalment rises each year, lump-sum top-ups, ELSS tax-saving funds, or a mix of SIP and one-time purchases — use custom mode, which handles any combination of dated cash flows.

How to Calculate XIRR in Excel

Excel and Google Sheets both provide a built-in XIRR function:

=XIRR(values, dates, [guess])

• values — the range of cash-flow amounts (with negatives for outflows).
• dates — the range of matching dates.
• guess — optional starting estimate (defaults to 0.1, i.e. 10%).

This online XIRR Calculator uses exactly the same actual/365 method as Excel's XIRR, so you can expect matching results — without needing a spreadsheet.

XIRR decision rule

The decision rule for XIRR is the same as for IRR: compare the XIRR of an investment against your required rate of return (or a benchmark such as inflation or a safe fixed-income return). If the XIRR is higher than your benchmark, the investment has added value; if it is lower, the investment has underperformed the alternative. When comparing options with the same risk profile, a higher XIRR is generally more attractive.

XIRR vs CAGR vs Absolute Return

Investors often confuse three different ways of expressing returns. Each answers a slightly different question, and choosing the wrong one can make an investment look far better — or worse — than it really was:

In short: use CAGR for a single lump sum, and XIRR the moment you add even one extra buy or sell on a different date. For a lump-sum investment held for exactly the same period, XIRR and CAGR return the same number — XIRR is simply the more general tool.

How to Interpret Your XIRR Result

Once the calculator returns a figure, here is how to read it:

• A positive XIRR means your money grew — the higher the percentage, the faster it compounded after accounting for the exact timing of every cash flow.
• A negative XIRR means you ended with less than you put in; the investment lost value on an annualised basis.
• An XIRR near zero means you roughly broke even after the effect of time.

Remember that XIRR is annualised. An XIRR of 12% does not mean you earned 12% in total — it means your money grew at an effective rate of 12% per year, compounded, across the whole holding period. This is what makes XIRR directly comparable between investments of different sizes and durations.

What is a Good XIRR? (Indian context)

There is no universal "good" number, because a good XIRR is always relative to risk, time horizon and the alternatives available to you. For an Indian investor, a helpful way to judge it is to compare your XIRR against the common benchmarks:

• Does it beat inflation? Indian retail inflation (CPI) is typically around 5–6%. If your XIRR is below this, your money is actually losing purchasing power.
• Does it beat a fixed deposit or PPF? Bank FDs and PPF usually return roughly 7% a year. Taking on the extra risk of equity should reward you with an XIRR meaningfully above these safe options.
• Does it beat the index? For equity mutual funds and stocks, compare your XIRR to the Nifty 50 or Sensex over the same period. Historically, Indian equity indices have delivered a long-term return in the low-to-mid teens.

As a rough guide, many long-term equity investors in India consider an XIRR of around 12% or higher to be healthy, because it comfortably beats FD, PPF and inflation — but always weigh the return against the risk you took to earn it. Also remember to factor in taxes: equity gains attract LTCG/STCG, so your post-tax XIRR is what truly matters.

Where XIRR is Used

Because it handles irregular dates, XIRR is the natural choice across almost every kind of real investment:

• Mutual funds & SIPs — measure the true return of many instalments and redemptions.
• Stocks & ETFs — account for shares bought and sold on different dates, plus dividends received in between.
• Real estate — combine the purchase, rental income, maintenance costs and eventual sale into one annualised figure.
• Bonds & fixed income — value irregular coupon payments and the final redemption accurately.
• Retirement & pension accounts — track contributions made over many years against the current balance.
• Business & capital projects — evaluate uneven project cash flows spread across the calendar.

Advantages of XIRR

• Timing accuracy — every cash flow is discounted from its exact date, so the result reflects reality rather than an assumption.
• Handles any cash-flow pattern — regular, irregular, one-off or recurring, positive or negative.
• One comparable number — reduces a messy schedule of transactions into a single annualised percentage you can compare across investments.
• Matches Excel — uses the same actual/365 method as the built-in XIRR function, so your results are consistent and verifiable.

Limitations of XIRR

XIRR is powerful, but it is not perfect. Keep these limitations in mind when you rely on it:

• Reinvestment assumption — like IRR, XIRR assumes interim cash flows are reinvested at the same rate, which may not hold in the real world.
• Multiple solutions — when cash flows change sign many times, more than one rate can mathematically solve the equation; the result should be read with care.
• Needs both inflows and outflows — XIRR cannot be calculated unless there is at least one negative and one positive cash flow.
• Not a measure of scale — a high XIRR on a tiny amount may add less real wealth than a lower XIRR on a large amount. Read it alongside the absolute gain.

Common Mistakes to Avoid

• Wrong signs — forgetting to enter investments as negative and receipts as positive is the single most common error, and it produces meaningless results.
• Missing the final value — when measuring an ongoing investment, remember to include the current market value as a positive cash flow on today's date.
• Ignoring small cash flows — dividends, fees and partial withdrawals all affect the result; leave them out and your XIRR will be off.
• Using the wrong dates — XIRR is sensitive to timing, so use the actual transaction dates rather than approximations.

Frequently Asked Questions

What is XIRR in simple terms?

XIRR is the annual rate of return of an investment that had money going in and out on different dates. It tells you, as a single yearly percentage, how fast your money actually grew once the exact timing of every transaction is taken into account.

What is the difference between IRR and XIRR?

IRR assumes every cash flow happens at equal, regular intervals. XIRR removes that assumption and uses the precise date of each cash flow, so it stays accurate even when money is invested or withdrawn at irregular times.

How is XIRR calculated for mutual funds and SIPs?

Each SIP instalment is treated as a dated cash outflow (a negative amount) and the current value or redemption is a dated inflow (a positive amount). XIRR then finds the single annualised rate that ties all of those dated cash flows together — the true return of your SIP.

Can XIRR be negative?

Yes. A negative XIRR simply means the investment lost value on an annualised basis — you received back less than you put in after accounting for timing.

Is XIRR the same as the return shown in Excel?

Yes. This calculator uses the same actual/365 day-count method as Excel's and Google Sheets' XIRR function, so for the same cash flows and dates you will get the same result.

What is a good XIRR percentage?

A good XIRR is one that beats inflation, a risk-free return and a relevant benchmark for the same period and risk level. In India, many long-term equity investors treat an XIRR of around 12% or more as healthy, because it comfortably beats FD, PPF and inflation — but the right number always depends on the type of investment and the risk you took to earn it.

What is a good XIRR for a mutual fund SIP in India?

For an equity SIP held over the long term, an XIRR that beats the Nifty 50 or Sensex and stays well above FD and PPF returns (roughly 7%) is generally considered good. Debt and hybrid funds will naturally show a lower XIRR because they carry lower risk.

Why is my SIP XIRR different from the absolute return?

Absolute return ignores time, while XIRR accounts for exactly when each SIP instalment was invested. Since your most recent instalments have been invested for only a short time, XIRR (which is annualised) usually looks different from — and is a far more accurate measure than — the simple absolute return.

Is XIRR the same as the return shown in Groww or Zerodha Coin?

Yes. Indian mutual fund platforms such as Groww, Zerodha Coin, Kuvera and Paytm Money report your portfolio return as XIRR using the same method as this calculator, so your results will match theirs for the same cash flows and dates.