TWR vs XIRR vs CAGR: which return should you report?
Three return measures answer three different questions. A worked example shows why a manager can look good on one and poor on another.
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Resources
Practical guides for portfolio teams
Short explanations of the calculations behind portfolio reporting, with worked examples, and videos of CapLens in action.
FIFO lots and cost basis through partial sells and splits
How lot-level cost basis works, why a partial sell must reduce remaining cost, and what splits and dividends change.
Read the guideMulti-currency reporting: price effect vs currency effect
Separating local-market return from currency movement, and choosing which FX rate to use where.
Read the guideWatch instead. The video library has a 15-minute product tour and deep dives into portfolios, transactions, dividends and Quant Lab.