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Yet another name for the same thing: XIRR, money-weighted return, dollar-weighted return.
Dollar-weighted return is identical to money-weighted return and XIRR — the discount rate that makes the present value of all dated cash flows equal zero. The label varies by region and industry but the math is the same: a return that weighs each contribution by how long it stayed invested.
Dollar-weighted ≡ Money-weighted ≡ XIRR0 = Σ CFi / (1 + DWR)(di − d0)/365When you read "dollar-weighted return," "money-weighted return," or "XIRR" in finance literature, you are reading about the same calculation under three names.
The phrase "dollar-weighted" is most commonly used by US mutual fund regulators (it appears in SEC filings). The math is identical to XIRR — each contribution is weighted by the dollars contributed multiplied by the time invested.
See the worked example on the XIRR page.
Use this in the same context as XIRR — compare to TWR of your benchmark over the same window to measure timing skill.
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Open the XIRR Calculator →Nothing — they are two names for the same calculation.
Yes. Excel's XIRR function returns the dollar-weighted (money-weighted) annualized return.
Because it reflects your actual outcome. TWR is the fund's perspective; dollar-weighted is your perspective.
Yes — it is labeled "XIRR" in the metrics panel but the underlying number is identical to dollar-weighted / money-weighted return.
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