Mutual Fund Rolling Returns Calculator

Published: October 25, 2013 at 6:02 pm

Last Updated on

Use this automated mutual fund rolling returns calculator to evaluate the consistency in performance of a mutual fund over any interval from April 3rd 2006 onward. You can compare results with benchmarks like Sensex, CNX Nifty, CNX Small-cap, and CNX Mid-Cap.

This version is a major improvement over the previous Excel Rolling Returns Calculator.  The analysis section also includes plots of the NAV with the index and rolling returns.

If you wish to know what is rolling returns and why one should calculate it, you can consult this post or this article

Let us briefly discuss why a rolling return calculation is important.

Suppose we would like to know, how consistent a mutual fund has performed, how often has it performed better or worse than its benchmark (or a closely related index), how would be go about it?

In a rolling returns calculation, the key output is the frequency of outperformance. The present version allows evaluating how often the fund has outperformed its benchmark in the interval chosen for analysis.

Thus rolling returns analysis allows us to evaluate the consistency in the funds performance over different market conditions.

Note:  Rolling returns analysis is useful but understanding market volatility is more important. Evaluating rolling returns for last 1-2 years only makes little sense to me.  You will need to look at a wider time interval.

Results using the Mutual Fund Rolling Returns Calculator

HDFC Top 200 compared with BSE- Sensex

HDFC-top-200-1Y-rolling-returns

1-year rolling returns of HDFC Top 200 vs. BSE Sensex (April 3rd 2006 to 24th October 2013)

HDFC-top-200-3Y-rolling-returns

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3-year rolling returns of HDFC Top 200 vs. BSE Sensex (April 3rd 2006 to 24th October 2013)

HDFC-top-200-5Y-rolling-returns

5-year rolling returns of HDFC Top 200 vs. BSE Sensex (April 3rd 2006 to 24th October 2013)

What do these results tell us?

  1. The fund has underperformed recently? Yes of course!
  2. The longer you stay invested in the fund, the higher the chances of getting a return that is better than the index? Yes of course!

Question is, which of these two results will you pay more attention to?

My choice: No. 2 (read this DIY analysis of HDFC Top 200 to learn why.

Further results from the mutual fund rolling returns calculator for HDFC Top 200

Rolling return intervalChance of beating index
1Y78%
2Y87%
3Y92%
5Y99%

I am pretty comfortable with these numbers. Are you?

Version 5:  Download the multi-index rolling returns calculator June 2017

 Download the Automated Mutual Fund Rolling Returns Calculator (Oct. 2013)

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Pattabiraman editor freefincalM. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. since Aug 2006. Connect with him via Twitter or Linkedin Pattabiraman has co-authored two print-books, You can be rich too with goal-based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management. He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice.
He conducts free money management sessions for corporates and associations on the basis of money management. Previous engagements include World Bank, RBI, BHEL, Asian Paints, Cognizant, Madras Atomic Power Station, Honeywell, Tamil Nadu Investors Association. For speaking engagements write to pattu [at] freefincal [dot] com

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56 Comments

  1. Dear Pattu,

    I have been exploring your “Mutual Fund Rolling Returns” calculator, and I found it very useful.

    Perhaps there is a bug, though: For fund “ICICI Prudential Nifty Junior Index Fund – Regular Plan – Growth” compared to Nifty, starting on 28-6-10 and going till 23-10-13, the Analysis sheet has a lot of “#VALUE” errors.
    I think the reason could be that in sheet Fund, column D, the formula you use is =IF(D10=1,IF(A10=””,””,IF(MAX($A$10:$A$6002)>A10,IF(ISERROR(F10-B10/B10),0,1),””)),0)

    Perhaps you meant:
    =IF(D10=1,IF(A10=””,””,IF(MAX($A$10:$A$6002)>A10,IF(ISERROR((F10-B10)/B10),0,1),””)),0)?
    (Note the extra parenthesis in the ISERROR function.)

    Also, I don’t think the submit button on the “Contact us” page works. After I typed the stuff above into the text box and hit Submit, it took me to an error page asking “Are you sure you want to do this?” and nothing else.

    Thanks again and regards,
    Mallu

    1. Hi,

      Thank you. There is no bug in the calculator. Just that I have not included enough error messages.

      Yes (a-b)/c is correct and no a-b/c. However in the present context, I am only looking for errors so it should not matter.

      The problem is because of the following.

      1. NAV exists only from June 2010. So rolling return duration cannot be too long.

      2. First entry in NAV data for 28 June 2010 is “NA” as given by AMFI! So this have to be manually removed. The first entry in fund sheet should be for 29 June 2010.

      3. Start date in inputs sheet should be on or after 29 June 2010.

      Once these are taken care, results will show.

      Thanks. I will have a look at the contact page.

  2. Dear Pattu,

    I have been exploring your “Mutual Fund Rolling Returns” calculator, and I found it very useful.

    Perhaps there is a bug, though: For fund “ICICI Prudential Nifty Junior Index Fund – Regular Plan – Growth” compared to Nifty, starting on 28-6-10 and going till 23-10-13, the Analysis sheet has a lot of “#VALUE” errors.
    I think the reason could be that in sheet Fund, column D, the formula you use is =IF(D10=1,IF(A10=””,””,IF(MAX($A$10:$A$6002)>A10,IF(ISERROR(F10-B10/B10),0,1),””)),0)

    Perhaps you meant:
    =IF(D10=1,IF(A10=””,””,IF(MAX($A$10:$A$6002)>A10,IF(ISERROR((F10-B10)/B10),0,1),””)),0)?
    (Note the extra parenthesis in the ISERROR function.)

    Also, I don’t think the submit button on the “Contact us” page works. After I typed the stuff above into the text box and hit Submit, it took me to an error page asking “Are you sure you want to do this?” and nothing else.

    Thanks again and regards,
    Mallu

    1. Hi,

      Thank you. There is no bug in the calculator. Just that I have not included enough error messages.

      Yes (a-b)/c is correct and no a-b/c. However in the present context, I am only looking for errors so it should not matter.

      The problem is because of the following.

      1. NAV exists only from June 2010. So rolling return duration cannot be too long.

      2. First entry in NAV data for 28 June 2010 is “NA” as given by AMFI! So this have to be manually removed. The first entry in fund sheet should be for 29 June 2010.

      3. Start date in inputs sheet should be on or after 29 June 2010.

      Once these are taken care, results will show.

      Thanks. I will have a look at the contact page.

  3. Hi Pattu,

    Do you have Mutual Fund FMP return calculator along which will also deduct tax and will provide me the returns I may get?

    Thanks a lot!
    Excellent Service!

  4. Hi Pattu,

    Do you have Mutual Fund FMP return calculator along which will also deduct tax and will provide me the returns I may get?

    Thanks a lot!
    Excellent Service!

  5. Pattu Sir,

    You are Ek Number.
    Thank you for all these useful excel sheets…….dil se.

    Sincerely,
    Swapnil

  6. Pattu Sir,

    You are Ek Number.
    Thank you for all these useful excel sheets…….dil se.

    Sincerely,
    Swapnil

  7. Dear Pattu
    Thanks for your prompt response on the SIP calculator, similar to that can we have the similar indexes for automated rolling return also as it will give an apple to apple comparison of fund being compared with its benchmark index as mentioned in the fund fact sheet.
    God Bless You.
    Regards
    Satya S Mishra

  8. Dear Pattu
    Thanks for your prompt response on the SIP calculator, similar to that can we have the similar indexes for automated rolling return also as it will give an apple to apple comparison of fund being compared with its benchmark index as mentioned in the fund fact sheet.
    God Bless You.
    Regards
    Satya S Mishra

  9. Dear Pattu
    Congratulations for the wonderful work that you are doing, kindly accept my heartfelt gratitude for adding Chronic Illness Expense Calculator,Automated Mutual Fund and Financial Goal Tracker and updating the SIP returns calculator.
    This Automated Rolling Returns calculator will become even better if we can add more indexes as you have added in the SIP return calculator.
    I can understand you are working on many calculators , but this one needs your help.
    Thanks again and God Bless You.
    Regards
    Satya S Mishra

  10. Dear Pattu
    Congratulations for the wonderful work that you are doing, kindly accept my heartfelt gratitude for adding Chronic Illness Expense Calculator,Automated Mutual Fund and Financial Goal Tracker and updating the SIP returns calculator.
    This Automated Rolling Returns calculator will become even better if we can add more indexes as you have added in the SIP return calculator.
    I can understand you are working on many calculators , but this one needs your help.
    Thanks again and God Bless You.
    Regards
    Satya S Mishra

  11. Dear Mr. Pattu,

    Really Nice Work. Appreciate your efforts & contribution for the benefit of MF Industry.

    I just downloaded the Automated Rolling Returns Calculator. When I click to Download Index Data, error appears that the Internet Address is not valid. I have tried changing dates as suggested but the error appears for all the dates. There is no problem for Downloading Fund NAV.

    Please Assist. Thanks.

  12. Dear Mr. Pattu,

    Really Nice Work. Appreciate your efforts & contribution for the benefit of MF Industry.

    I just downloaded the Automated Rolling Returns Calculator. When I click to Download Index Data, error appears that the Internet Address is not valid. I have tried changing dates as suggested but the error appears for all the dates. There is no problem for Downloading Fund NAV.

    Please Assist. Thanks.

  13. Dear Pattu,

    I got redirected here to this calculator excel via your reply to my comment under post : “Multi-index Mutual Fund Rolling Returns Calculator”.

    I tried UTI – Equity fund Growth option. Start date : default, End date 6/5/2015, tenure 9 years and interval=365 days. Under fund sheet there are div/0 errors. Index values are working and I have taken BSE sensex as index.

    From what i know, this fund was renamed in 2005 so it did exist even in 2006.

    Please check if it works for you.

    Many thanks in advance !!

  14. Dear Pattu,

    I got redirected here to this calculator excel via your reply to my comment under post : “Multi-index Mutual Fund Rolling Returns Calculator”.

    I tried UTI – Equity fund Growth option. Start date : default, End date 6/5/2015, tenure 9 years and interval=365 days. Under fund sheet there are div/0 errors. Index values are working and I have taken BSE sensex as index.

    From what i know, this fund was renamed in 2005 so it did exist even in 2006.

    Please check if it works for you.

    Many thanks in advance !!

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