Example 1 — 25% gain
- Starting value: 10,000
- Ending value: 12,500
Total return +25.00%
Gain/loss 2,500.00
Positive total return — capital grew by 2500 in the header currency.
Rate of return (total return)
Check the total return percentage between two values — with no contributions or withdrawals during the period.
This is a simple return with no intermediate cash flows — only a starting and ending value. With regular contributions, withdrawals, or many transactions, use the IRR calculator. The primary result is always total return (%). Annualisation (CAGR) and real total return are helper metrics — do not confuse them with real CAGR (use the CAGR and real rate calculators for that).
Result
Enter data and click Calculate.
How results are calculated
Total return = (End − Start) ÷ Start × 100% — the percentage value change without annualisation. This is always the primary result.
Gain / loss = End − Start — the cash change in the header currency.
Annualised return (CAGR) — optional helper when a time horizon is given: the constant compound annual rate that takes start to end. It does not replace total return.
Real total return — optionally, with inflation and a horizon: (End/Start) ÷ (1+inflation)^years − 1. This adjusts the whole return for purchasing power — not real CAGR. For a real annual rate, use the real rate calculator.
The model ignores contributions or withdrawals during the period — one start point and one end. With intermediate flows, use IRR.
The result says nothing about risk, volatility, or drawdown — a high return in one period does not guarantee it repeats.
How to use the calculator
- Enter the starting and ending values.
- Read total return (%) — the primary result — and the gain/loss in cash.
- Optionally enable a time horizon to see annualised return (CAGR) as a helper.
- Optionally enable inflation (requires horizon) to see real total return — not real CAGR.
- With mid-period contributions or withdrawals, switch to the IRR calculator.
Usage examples
Example 2 — 15% loss
- Starting value: 10,000
- Ending value: 8,500
Total return −15.00%
Gain/loss -1,500.00
Negative return — a loss of 1500; the model does not show whether it is a temporary dip or a trend.
Example 3 — with a 3-year horizon
- Starting value: 10,000
- Ending value: 13,310
- Horizon: 3 years
Total return 33.10%
CAGR 10.00%
Over 3 years total return ≈33.10%, while CAGR ≈10%/year — annualisation assumes constant compound growth.
Example 4 — total return vs real total
- Starting value: 10,000
- Ending value: 13,310
- Horizon: 3 years
- Inflation: 3%
Total return 33.10%
Annualised (CAGR) 10.00%
Real total return ≈21.81%
Three different metrics: total (no time), CAGR (annual pace), real total (whole return after inflation) — this is not real CAGR.
FAQ
What does rate of return mean in the result?
Percentage gain (or loss) versus capital employed for the period — (ending − starting) / starting.
When is simple return enough?
For one period without mid-term contributions or withdrawals. With intermediate cash flows, prefer TWR/IRR.
What does the result not say about risk?
It shows neither volatility nor drawdown — a high one-year return is not a promise it repeats.
What mistake inflates return?
Omitting contributions from the denominator, or comparing returns over unequal periods without annualising.
How is total return different from CAGR?
Total return is the percentage change without annualisation. CAGR rescales it to a constant compound annual rate — you need a time horizon.
When should I switch to the IRR calculator?
When there were contributions, withdrawals, or many transactions during the period — simple return then distorts the result.
How is real total return different from real CAGR?
Real total return adjusts the whole period result for inflation: (ending/starting) ÷ (1+i)^years − 1. Real CAGR is a separate annual rate — calculate it in the real rate calculator or CAGR with inflation, not here as the primary result.