Why does my return differ from what DEGIRO shows?

DEGIRO often shows a simple price or value difference per position and ignores the timing and size of your deposits, plus dividends and costs across the whole portfolio. XIRR includes all of that.

What's the difference between XIRR and TWR?

XIRR (money-weighted) measures the return on your invested euros and is affected by when you deposit. TWR (time-weighted) removes the effect of deposits.

Which currency is used?

Euros. Prices of US stocks are converted using the EUR/USD exchange rate, so your return reflects your actual euro result.

Calculate your DEGIRO return

Your real return is more than price minus purchase cost. Here's how money-weighted (XIRR) and time-weighted (TWR) return work — and why DEGIRO's number differs.

Three ways to measure return

Not every “return” means the same thing. The three most common measures:

Simple price difference: (current value − contributions) / contributions. Fast, but misleading once you've added money at several moments.
Money-weighted return (XIRR): accounts for the date and size of every deposit and withdrawal. This is the return on your euros.
Time-weighted return (TWR): removes the effect of deposits, so you measure pure investment performance.

Why XIRR is fairer

Say you deposit €1,000 early in the year and another €10,000 in December. A large part of your money was only invested briefly. A simple percentage over your end value over- or understates your real return. XIRR weighs each cash flow by how long it was invested.

Why DEGIRO shows a different number

DEGIRO shows a profit/loss per position, often in the trading currency (e.g. dollars) and without weighing your dividends, costs and deposit timing across the whole portfolio. Our tool calculates in euros and includes all of that.

Calculate it without a spreadsheet

No Excel formulas needed. Upload your DEGIRO export in the free tracker and your return, profit/loss and the benchmark comparison appear instantly. Not sure which files you need? Read importing your DEGIRO CSV.

Frequently asked questions

Why does my return differ from what DEGIRO shows?: DEGIRO often shows a simple price or value difference per position and ignores the timing and size of your deposits, plus dividends and costs across the whole portfolio. XIRR includes all of that.
What's the difference between XIRR and TWR?: XIRR (money-weighted) measures the return on your invested euros and is affected by when you deposit. TWR (time-weighted) removes the effect of deposits.
Which currency is used?: Euros. Prices of US stocks are converted using the EUR/USD exchange rate, so your return reflects your actual euro result.