Personal rate of return is the investment performance of individual or household accounts based on transaction history and resulting cash flows, net of any fees. Returns only reflect activity in active personal investing mutual fund accounts, Retirement Advisory Service™ accounts and accounts in the ActivePlus Portfolios® program. Assets in any self-managed brokerage accounts or external investment accounts are not included. These returns reflect the performance of your T. Rowe Price accounts since the inception of your oldest account with the following exceptions:
For more information about which accounts are included, log in to access the "Personal Rate of Return Breakdown" table.
The growth of your portfolio should be monitored over an extended period of time. Keep in mind that your portfolio may perform differently in the future than in the past. Past performance cannot guarantee future results. Before making changes to your portfolio, there are several other factors that should be considered, such as your investment objectives, your tolerance for risk, and your time horizon.
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How is the personal rate of return calculated?
Personal rate of return is calculated using Time-Weighted Rate of Return (TWRR) Method. TWRR Method yields the most accurate rate of return as it captures valuation of your account and portfolio each time a transaction occurs. We use this method, as it calculates the return for each time period between transactions and then links those periodic returns geometrically to derive the return for the total time period. It takes into account the amount of time you held investments in your account, the overall portfolio performance, as well as external cash flows, such as purchase and redemption transactions into and out of your account. Price or transaction corrections for previously declared values that were posted after the calculation date may not be reflected in the results.
Time-Weighted Rate of Return (TWRR) is widely used by financial analysts. It takes into account the amount of time you held investments in your account, the overall portfolio performance, as well as external cash flows, such as purchase and redemption transactions into and out of your account.
Among the many methods used to calculate TWRR is the TWRR Daily Valuation Method, which yields the most accurate TWRR, as it captures valuation of your account and portfolio each time a transaction occurs. We use this method, as it calculates the return for each time period between transactions and then links those periodic returns geometrically to derive the return for the total time period.
Similar to TWRR Daily Valuation Method, True TWRR yields the most accurate TWRR, but valuation of your account is triggered by account cash flows. Even with a different frequency of account valuation, True TWRR like TWRR Daily Valuation Method calculates the return for each time period between transactions and then links those periodic returns geometrically to derive the return for the total time period.
Price or transaction corrections for previously declared values that were posted after the calculation date may not be reflected in the results. Your personal rate of return may not match the historical performance of the mutual fund or college savings investment due to timing of transactions and holding period of securities in your account. Other approaches to calculating personal rate of return could yield different results.
An interval (or sub-period) return calculation is performed for your account whenever an external cash flow or month-end interval valuation occurs:
R = (EV-BV)/BV
R = the total interval return percentage
BV = the beginning value (the market value at the end of the previous period), including any cash flows at the end of the previous period and accrued income up to the end of the previous period.
EV = the ending market value of the portfolio at the end of the period before any cash flows in this period, but including accrued income for the period
All interval returns calculated must be geometrically linked together to provide the three-month, month-to-date, quarter-to-date, year-to-date, 1-year, 3-year. 5-year, 10-year, and since inception returns. Any returns more than one year are annualized.
Past performance cannot guarantee future results. Other approaches to calculating personal rate of return could yield different results.
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This chart tracks the historical growth of your portfolio and graphically compares the dollars you have invested with the actual market value of your investments so you can see how your portfolio has performed over time. The growth of your portfolio is based upon both the performance of your account(s) and the timing and amounts of your transactions. Therefore, because all transaction activity in your account(s) is tracked by this chart, the growth of your portfolio will differ from the return or performance of the account(s) that makes up your portfolio.
The growth of your portfolio should be monitored over an extended period of time. Also, keep in mind that your portfolio may perform differently in the future than in the past. Before making changes to your portfolio, there are several factors that should be considered, such as your investment objectives, your tolerance for risk, and your time horizon.
Net Investment – Represented by the black line in the chart and comprises the money that you have invested and withdrawn from your portfolio since inception. Income proceeds are not included as net investment.
Market Gain/Loss – Represented in the chart by the red or green line. Periods of gains, where your market value is greater than your net investment, are shaded in green, while periods of losses, where your market value is less than your net investment, are shaded in red.
This activity summary summarizes the key activities for the mutual fund account(s) included in the analysis for the specified time period. Here is a definition for each of the items in the activity summary:
Beginning Value – The total dollar value of all accounts included in the analysis for the beginning date chosen.
Additions – Any transactions to move money into your account(s), such as the purchase of new shares, exchanges or transfers from any other accounts, and dividends invested in an account from another account. It does not include income or market fluctuation.
Deductions – Any transactions to move money out of your account(s), including redemptions, withdrawals, exchanges or transfers to other accounts, or checkwriting activity. Any applicable redemption fees are also included in the deduction amount. Proceeds from any income that is not reinvested in the same account (cash dividends paid to you and dividends invested into another account) are also reflected as a deduction. Also included is any money out of your account as a result of a fee or commission.
Adjustments – Any transactions that aren't classified as additions, withdrawals, or income. Examples include adjustments to your account balance or additional transactions, such as a transfer and a wire, recorded as part of multi-part transactions.
Income – Any proceeds (cash or reinvested dividends, short- and long-term capital gain distributions) earned in your account(s). Income that is not reinvested in the same account (cash dividends paid to you and dividends invested into another account) is reflected as a deduction.
Market Fluctuation – Any increase or decrease in the value of your account(s) over the period selected caused by the changes in the investments’ beginning and ending share prices (net asset values). If all of your holdings are money market funds, there should be no change in value due to market fluctuation, although this is not guaranteed.
Ending Value – The total dollar value of all accounts included in the analysis for the ending date chosen.
Change in Value – The difference between the beginning value and the ending value for the specified time period.
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