Returns Calculator — CAGR · XIRR

CAGR — Compound Annual Growth Rate

CAGR smooths your investment into one annualised percentage, assuming a lump sum at the start and a single exit. Adjust the sliders to see it recalculate live.

CAGR = (End Value ÷ Start Value)^1/Years − 1

Lump sum invested (₹) ₹10,00,000

End value (₹) ₹17,60,000

Holding period (years) 5 yrs

⚠ The start-date trap: Same fund, same exit — but switching the entry from a market bottom to a market peak can swing CAGR by 15–18 percentage points. Always ask "from which date?" when you see a CAGR figure.

Growth of investment (illustrative path vs CAGR line)

CAGR (smooth)

Actual path

Key insight: CAGR hides all volatility. A fund that dropped 40% in year 2 and recovered sharply shows the same CAGR as one that grew smoothly. That is why CAGR alone is insufficient for fund evaluation.

Entry-date sensitivity — Nippon India Large Cap Fund (illustrative)

Entry: Aug 2007

13.3%

Inception — 19 years

Entry: Jan 2014

10.5%

Normal entry — 12 years

Entry: Mar 2020

~24%

COVID bottom — cherry-picked!

Entry: Jan 2022

~6%

Near peak — painful entry

XIRR — SIP Returns Calculator

XIRR is the only correct metric for SIPs and any investment with multiple cash flows at irregular dates. It accounts for the timing of every instalment.

NPV = Σ [ CF(t) ÷ (1 + XIRR)^t/365 ] = 0

Monthly SIP amount (₹) ₹10,000

Duration (years) 10 yrs

Expected annual return (%) 17.35%

Benchmark rate (Nifty 100 TRI): 15.54%

Invested vs corpus growth over time

Invested

Benchmark

Fund corpus

Why XIRR often beats lump sum CAGR: SIP investors automatically accumulate more units during market crashes at depressed NAVs. This rupee cost averaging effect boosts XIRR above the simple lump sum CAGR — but only XIRR captures it correctly.

Rolling Returns — Distribution Analysis

Rolling returns compute CAGR for every possible holding-period window in the fund's history. Adjust the window to see how risk and return change with time horizon.

Rolling window (years) 3 yrs

Return distribution histogram (illustrative)

Rolling 3-yr CAGR — Fund vs Benchmark

Nippon Large Cap

Nifty 100 TRI

3-year window	Fund CAGR	Nifty 100	Outcome
Jan 2013 → Jan 2016	18.2%	16.1%	Beat +2.1%
Jan 2015 → Jan 2018	9.6%	9.8%	Slight miss
Jan 2017 → Jan 2020	11.4%	10.2%	Beat +1.2%
Mar 2020 → Mar 2023	28.4%	24.6%	Beat +3.8%
Jan 2021 → Jan 2024	14.9%	13.1%	Beat +1.8%
Jan 2022 → Jan 2025	9.2%	10.4%	Under −1.2%

* Approximate data for educational purposes. Verify on Value Research / AMFI.

Nippon India Large Cap Fund — Full Case Study

Nippon India Large Cap Fund · Direct Plan · Growth · Benchmark: Nifty 100 TRI

Fund at a glance — May 2026

Current NAV

₹99.81

AUM

₹51,690 Cr

Inception CAGR

13.3%

10-yr SIP XIRR

17.35%

Benchmark CAGR

11.87%

XIRR Alpha

+1.81%

5-yr return

15.62%

Expense ratio

0.71%

NAV journey — Aug 2007 to May 2026 (illustrative)

Nippon Large Cap

Nifty 100 TRI

COVID crash visible: March 2020 saw the fund NAV fall ~38% from its Jan 2020 level. Investors who entered at this point report a spectacular CAGR. All other investors from earlier periods had to wait 18 months to recover. Neither experience is fully captured by a single trailing CAGR.

₹10,000/month SIP for 10 years — fund vs benchmark

3-yr rolling beat rate

Windows analysed

Across 12 years

Benchmark beaten

5 / 6

83% beat rate

Max 3-yr CAGR

28.4%

Mar 2020 entry

Min 3-yr CAGR

9.2%

Jan 2022 entry

Median 3-yr CAGR

13.1%

Typical experience

All windows positive?

Yes

100% positive

Which Number Should You Trust?

Each metric answers a different question. Using the wrong one doesn't give you a wrong number — it gives you an answer to a question you didn't ask.

💰

Lump sum evaluation

Use CAGR when comparing a single investment from a known start date to a known end date. Ensure both comparison funds use identical date ranges.

Use: CAGR

🔄

SIP / multiple cash flows

XIRR is the only correct metric when cash flows occur at different dates. SEBI mandates XIRR for all SIP return disclosures since 2021.

Use: XIRR

📊

Fund selection & comparison

Rolling returns reveal consistency across market cycles. Compare median rolling CAGR, % positive windows, and benchmark beat rate — not just trailing CAGR.

Use: Rolling Returns

🚩

Reading fund advertisements

Fund ads use CAGR because it is the most manipulable. A "24% CAGR" almost always uses a COVID-bottom start date. Always ask: "From which date?" Then check rolling returns.

Be sceptical of CAGR

"The three questions every investor must ask: What was the start date? What happens to this return if I shift the start date by 6 months? And how often has this fund delivered positive returns over my intended holding period?"

Attribute	CAGR	XIRR	Rolling Returns
What it measures	Lump sum annualised return	Return on any set of dated cash flows	Distribution across all entry points
Cash flows	Single invest + exit only	Multiple, irregular dates	Each window is a separate CAGR
Output	One %	One %	Range: min, median, max, % positive
Best for	Lump sum, benchmark comparison	SIP returns, personal portfolio	Fund selection, consistency check
Main weakness	Start-date sensitive; hides path	Depends on cash flow timing	Needs long data history
SEBI requirement	Point-to-point disclosures	Mandatory for SIP return claims	Not mandated; used by analysts
Nippon India (real data)	13.3% (inception)	17.35% (10-yr SIP)	Beat benchmark 5/6 windows

DISCLAIMER: This dashboard is for educational purposes only and does not constitute investment advice. Past performance does not guarantee future returns. Mutual fund investments are subject to market risks. NAV and return data are approximate and for illustrative purposes — verify from official AMC, AMFI, or Value Research sources. The author is a finance educator and not a registered investment advisor.

Mutual Fund Returns — Three Lenses