Report methods and definitions
Understand returns, monetary contributions, and unavailable data.
Before comparing two reports
Match accounts, actual dates, cash treatment, reporting currency, return method, and annualization. Historical portfolio calculations include Cash on the Total Account basis.
Time-weighted return (TWRR)
Links daily returns after adjusting for external deposits and withdrawals. It helps compare performance independently of the amount and timing of external capital.
For supported daily values, the daily return is (closing value − opening value − net external flow) / opening value. TWRR links these daily results: product(1 + daily return) − 1.
Money-weighted return (MWRR)
Uses dated cash flows and ending value to calculate an XIRR-based result. It reflects when money entered or left the portfolio. An unavailable or unsolvable result remains unavailable.
TWRR and MWRR answer different questions. Neither alone establishes manager skill or reporting-standard compliance.
Period and annualized return
Period return measures the selected interval. Annualized return expresses that result at a yearly rate. Annualizing a short interval can magnify a brief move; read the actual duration alongside it.
Monetary return and contribution
Monetary return reconciles closing value with opening value and net external flows. Contribution Analysis allocates period monetary return across assets and Cash.
Contribution share is a row's signed monetary return divided by the sum of absolute monetary returns. It shows the relative size and direction of contributions; it is not a holding's contribution in percentage points to portfolio TWRR.
Coverage and unavailable values
Historical calculations need dated holdings, transactions, prices, and FX evidence. A report may be unavailable if the interval is incomplete or its endpoint is too old.
- Unknown classification: the category could not be supported for that date.
- Unavailable component: the report cannot separately establish that value. Do not read it as zero.
- Incomplete lot history: purchases and disposals do not support a reliable cost or realized result.
- Estimated income: a projection rather than a confirmed cash payment.
Risk measures
| Measure | Meaning |
|---|---|
| Volatility | Variation in historical returns, annualized |
| Maximum drawdown | Largest peak-to-trough decline in the supported series |
| Sharpe ratio | Excess return relative to volatility |
| Beta | Historical sensitivity to a benchmark |
| Alpha | Return relative to a model's benchmark-adjusted expectation |
| RoMaD | Return divided by the magnitude of maximum drawdown, where defined |
Income and currency
Gross income precedes withholding; net income reflects deductions where known. Tax-credit and withholding fields can be unavailable separately. Keep the event status and payment date with the amount.
Reporting currency is the display currency. Native currency belongs to the source holding or transaction. Dated conversion does not by itself prove a separate currency-gain component.
Saved reports
A saved report is a snapshot of the generated result. Reopening it does not recalculate values. Keep an exported copy of records you need for your own review process.