Glossary· Returns
What is Rolling returns?
The same holding period measured from every possible start date, not just today's.
A 3Y rolling series answers "what did a three-year holding usually earn?" instead of "what did the one three-year window ending today earn?". The average, best, worst and share of positive periods are the useful part: a fund whose worst 5Y window is still positive behaved very differently from one whose worst was −20%.
For the formula and the constants behind this figure, see Methodology.
Guides that use Rolling returns
2 guides put this term to work.
- Rolling returns, and the start date that flatters a fundA trailing return runs from one day to one day, and moving either changes it. What sliding that window across the whole history shows that one figure cannot.
- Quant funds: a rules-based manager, not a SEBI categoryAn actively managed fund whose stock picking runs on a usually undisclosed model, priced like active management. It relocates the trust rather than removing it.
More on returns
What the fund made, and over what stretch of time.
- NAV
- The per-unit price of the fund, published once each business day.
- Absolute return
- Plain point-to-point growth over a period under a year, not annualized.
- CAGR
- The steady yearly rate that would have taken the start NAV to the end NAV.
- YTD
- Return from 1 January of the current calendar year to the latest NAV.
- Since inception
- Annualized return over the fund's whole available NAV history.
- XIRR
- The annualized return of a series of cash flows on different dates.
- Benchmark
- The market index a fund's mandate says it is trying to beat.