XIRR Calculator

XIRR is a money-weighted annualized return that uses the dates and amounts of your real estate investment cash flows. Enter capital calls as negative numbers and distributions as positive numbers to calculate it.

What does XIRR calculate?

XIRR is the rate that makes the net present value of irregularly dated cash flows equal to zero. It is money-weighted: the timing and size of your own capital calls, distributions, and residual value affect the result. A time-weighted return answers a different question by reducing the effect of external cash flows, so XIRR is not a substitute for a time-weighted return when comparing manager performance.

This calculator uses the Newton-Raphson method, falling back to bisection when that does not converge. Microsoft documents Excel's XIRR as an iterative calculation using a 365-day year. Our implementation matches Microsoft's documented example. See Microsoft's XIRR documentation for the formula requirements and example.

XIRR needs at least one negative and one positive cash flow. Some cash-flow patterns can fail to converge or have more than one mathematical root, so treat the result as a money-weighted view of the entries you provide — not a complete measure of investment quality.

Microsoft's worked example uses -$10,000 on January 1, 2008; $2,750 on March 1, 2008; $4,250 on October 30, 2008; $3,250 on February 15, 2009; and $2,750 on April 1, 2009. Excel reports 37.34% XIRR for those dated cash flows. To use this calculator, enter your own dates and amounts below, then review the result alongside the methodology for sponsor IRR versus your personal return.

How to use this calculator: Enter each cash flow with its date. Use negative amounts for money you sent (capital calls, equity contributions) and positive amounts for money you received (distributions, sale proceeds). The calculator uses an iterative solver and follows the same 365-day convention documented for Excel's =XIRR() function.

Date	Amount ($)	Label (optional)

Track XIRR automatically across all your deals

SyndTrack calculates your portfolio XIRR, DPI, and MOIC automatically as you log distributions and capital calls. No formulas required.

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Why your XIRR can differ from sponsor IRR

Sponsors typically report the deal-level IRR from the perspective of the entire equity stack. Your personal XIRR may differ because your capital was called at a different time than other investors, or because you received a preferred return ahead of other equity classes.

Always calculate your own money-weighted XIRR using the actual cash flow dates you review, and compare it with sponsor reporting only after checking that the cash-flow perspective and residual-value assumptions are comparable.