Glossary· Returns

What is Since inception?

Annualized return over the fund's whole available NAV history.

For Direct plans this starts 1 January 2013, when Direct plans were introduced — not the scheme's original launch, which may be far older. The fund page shows the first date we hold NAV for.

For the formula and the constants behind this figure, see Methodology.

Guides that use Since inception

The guide that puts this term to work.

Absolute, CAGR, XIRR: which return are you looking at?Three numbers that all answer “how did it do?” and disagree with each other. Which one your statement shows, which one this site shows, and when each is the honest one.

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.
Rolling returns: The same holding period measured from every possible start date, not just today's.
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.

All 47 terms Guides Open the screener