IRR Money-Weighted Return Calculator
Calculate IRR, money-weighted return, NPV, invested cash, returned cash, and net cash flow from a manual cash-flow series.
Money-weighted return
Cash-flow inputs
Use negative numbers for deposits or costs, and positive numbers for withdrawals, sale proceeds, or distributions.
Result
IRR and NPV
Estimated IRR
6.90%
6 cash-flow periods
NPV at discount rate
-£452.92
Net cash flow
£3,500.00
Total invested
£12,000.00
Total returned
£15,500.00
Cash-flow sequence
IRR can be ambiguous for unusual cash-flow patterns with multiple sign changes. This is a planning estimate only and does not include tax, fees, inflation, risk, or investment advice.
About This IRR Money-Weighted Return Calculator
This IRR money-weighted return calculator estimates the return implied by a series of deposits, withdrawals, distributions, and final proceeds. Enter each cash flow in order, using negative numbers for money invested and positive numbers for money received.
The calculator also shows NPV at a manual discount rate, total invested cash, total returned cash, and net cash flow. It is useful when a simple start-to-end return or CAGR is not enough because cash moved in or out during the holding period.
This is a manual planning calculator. It does not fetch market data, value a portfolio, calculate tax, decide time-weighted performance, or provide investment advice.
How the IRR calculation works
Each entered line is treated as one period in the cash-flow sequence.
Negative cash flows represent money invested, costs, or deposits. Positive cash flows represent money received, distributions, withdrawals, or sale proceeds.
IRR is the rate that makes the net present value of those cash flows equal zero.
Money-weighted return example
A sequence such as -10000, -2000, 1500, 3000, 4500, 6500 includes both additional investment and later returns.
A simple annualized return cannot explain that pattern because the timing and size of cash flows matter.
The IRR estimate gives one money-weighted rate, while the NPV figure shows whether the cash flows beat the manual discount rate you entered.
When IRR needs caution
Cash-flow sequences with multiple sign changes can create more than one mathematical IRR.
A high IRR on a very small or short-lived investment may not matter as much as total cash returned.
The calculator does not include tax, fees, inflation, risk, or market valuation unless you adjust the cash flows yourself.
What this IRR money-weighted return calculator covers
This page should target IRR calculator, money weighted return calculator, investment cash flow return calculator, and NPV cash flow searches.
It calculates an estimated IRR and NPV from entered cash flows. It does not fetch market data, value portfolios, calculate taxes, decide time-weighted performance, or provide investment advice.
How to Use This Calculator
- 1
Enter cash flows in order
Use one line per period. Deposits and costs should be negative; sale proceeds, withdrawals, and distributions should be positive.
- 2
Add a discount rate
Enter a manual discount rate if you want a net present value alongside the IRR estimate.
- 3
Read the IRR
IRR is the rate that makes the present value of all entered cash flows equal zero.
- 4
Check the caveat
Unusual cash-flow patterns can produce ambiguous IRR results, so compare against NPV and total cash returned.
Frequently Asked Questions
What is money-weighted return?
Money-weighted return measures the rate of return based on the timing and size of cash flows. It is often calculated as IRR, so investor deposits and withdrawals affect the result.
How is this different from CAGR?
CAGR works best when you know only a starting value, ending value, and time period. IRR is more suitable when there are multiple deposits, withdrawals, or distributions.
Can IRR be misleading?
Yes. Cash-flow patterns with multiple sign changes can create more than one possible IRR or no useful IRR. Use NPV and cash totals as context.
Is IRR the same as time-weighted return?
No. IRR is money-weighted, so deposits and withdrawals affect the result. Time-weighted return removes investor cash-flow timing and is usually used for manager performance reporting.
Why does the first period start at zero?
The first entered cash flow is treated as time zero. Each following line is one period later.