Work out the return an investment made between a start value and an end value. You can find the total return over the whole period, the annualised return (CAGR) as a steady yearly rate, or a target value from an assumed return. The calculator looks only at the start and end value, with no cash paid in or out along the way. It makes no forecast and no product recommendation. Everything runs in your browser; nothing is stored or sent.
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Total return and annualised return are different: total return is the change over the whole term, while the annualised return (CAGR) is the steady yearly rate that leads to the same end value.
The cards give the end value, the total return in money and per cent, and — with a term — the annualised return. Total return is the whole change; CAGR is the even yearly rate behind it. Over one year they match; over several, the CAGR is the smaller figure. The result holds only if nothing was paid in or out along the way.
Total return is the change from the start to the end value: in money the difference, in per cent (end / start − 1) · 100. The annualised return (CAGR, compound annual growth rate) is the steady yearly rate that leads from start to end value: CAGR = (end / start)^(1 / years) − 1. In 'target value' mode it works the other way: target = start · (1 + return)^years.
The distinction matters: total return says nothing about the time; the CAGR spreads the change evenly across the years. Over one year both are equal; over several years the annualised return is smaller than the total return.
The calculator assumes nothing was paid in or out between start and end. With interim cash flows (regular saving or withdrawals) the result is unsuitable — the internal rate of return is meant for that. Internally the calculation is unrounded and only rounded for display.
Total return (%)=(End / Start − 1) · 100Total return (money)=End − StartCAGR=(End / Start)^(1 / Years) − 1Target value=Start · (1 + Return)^Years| Mode | Annualised return / CAGR |
|---|---|
| Start value | €5,000.00 |
| End value | €12,000.00 |
| Term | 8 years |
| Total return (%) | 140% |
|---|---|
| Total return | €7,000.00 |
| Annualised (CAGR) | 11.56% p.a. |
€5,000.00 grows to €12,000.00 — a total return of 140%, or €7,000.00. Over 8 years that is an annualised return of (12,000 / 5,000)^(1/8) − 1 ≈ 11.56% a year. All figures are example assumptions.
| Mode | Target value |
|---|---|
| Start value | €8,000.00 |
| Assumed annual return | 7% p.a. |
| Term | 12 years |
| Target value | €18,017.53 |
|---|---|
| Total return | €10,017.53 |
| Total return (%) | 125.22% |
At an assumed 7% a year, the start value grows over 12 years to 8,000 × 1.07^12 = €18,017.53. That is a total return of 125.22%, or €10,017.53. The 7% is an example assumption, not a forecast.
Total return is the whole change from start to end value, regardless of how long it took. CAGR — the compound annual growth rate — is the steady yearly rate that leads to the same end value. Over one year they are equal; over several years the CAGR is smaller, because each year's return builds on a larger amount.
No. This tool looks only at a start value and an end value, with no cash in or out along the way. Once you pay in or withdraw during the period, a simple return is distorted; for such series the internal rate of return (IRR) is the right tool, and a dedicated calculator is planned.
No. The annualised return describes, looking back, how a value grew on average — or, in target-value mode, what an assumed rate would give. It is not a forecast; real yearly returns can swing widely around the average.
No. The calculator uses the nominal figures you enter. To see how inflation erodes purchasing power, use the real return calculator; ongoing costs fit in a fund-cost calculator.
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Last reviewed: 26/07/2026 · All calculations run in your browser – inputs are not stored. ·How we check our calculators