Mutual Fund SIP XIRR Tracker

/ M. Pattabiraman / @pattufreefincal / 27 Comments

Published: July 21, 2016 at 5:43 am

Last Updated on August 15, 2017

Use this sheet to automatically track the XIRR of your mutual fund SIP month by month and compare its performance with a benchmark index. In this updated version, the Nifty strategic indices have been included for comparison.

The sheet includes a ‘cumulative outperformance’ feature. This gives you the no of times the fund has out-performed its index on a month by month basis. This is a key indicator of a drop in performance. Read more: Should I continue my SIP in HDFC Top 200 Fund?

What is XIRR? When you invest a lump sum in a volatile instrument (equity, debt fund, gold fund etc.), the average rate at which the investment has compounded is given by the CAGR

When you invest periodically in the same instrument, instead of CAGR, a quantity called the XIRR,  is calculated. This can be interpreted as the average CAGR of all the instalments.

Read more:

Understanding Annualized Return: CAGR and XIRR

What is XIRR?

If you track this XIRR month after month for a SIP instrument and compare it with corresponding number for a benchmark, it gives you a idea of how consistently the fund has beat the benchmark.

To measure consistency, rolling returns calculation is performed. An automated calculator for this can be found here

A rolling SIP return calculation is hard to compute. Monthly XIRR tracking can be considered as an alternative.

Indices available:

As seen in a recent series of posts, Nifty strategic indices are tougher benchmarks for mutual funds to beat. Therefore, using these benchmarks would be a better way to separate the wheat from the chaff.  A couple of these indices were also studied in detail:

A total of 53 benchmarks are now available for comparison.These include Nifty TRI, Sensex TRI, BSE 200 TRI, BSE 500 TRI,Nifty, CNX 100, CNX Mid Cap, CNX 500, Sensex, BSE Small Cap, Mid Cap, BSE 100,200, 50 etc.

TRI refers to total returns index. That is the index has been calculated with dividends reinvested.

The user needs to obtain them manually from the S&P website (updated up to 4th April 2016). Links for updating each index is provided in the sheet.

The TRI indices are stored in the sheet while other indices are downloaded from Moneycontrol.

The six strategic indices are:

  1. NV20 – 20 value stock from within Nifty.
  2. NQ30 – 30 quality stocks from NSE listing.
  3. Alpha50 – 50 alpha generators from top 300 NSE stocks (market cap)
  4. NDivOpp – Top 50 dividend yield stocks from top 300 NSE stocks (market cap)
  5. NLV50 – 50 least volatile stocks from top 300 NSE stocks (market cap)
  6. NGS15 – Top 15 growth stocks from top 50% market cap of all sectors with PB and PE greater than the Nifty.

The strategy indices also need to updated from the NSE site (updated currently up to June 30th 2016).

Here are some sample results.

XIRR is calculated only after 1Y from start of the SIP.

SIP-tracking-4

On the left, you have the XIRR data for the fund and benchmark, along with the green line which represents the duration of the SIP in years (in both plots). Please note the return is calculated after each installment. So it is cumulative and not monthly performance.

On the right the cumulative percentage outperformance is tracked. Had the funds return dipped below its benchmark then the outperformance graph would have dipped.

These are some previously published results.

Monthly-XIRR-ICIC-Blue-Chip

Monthly-XIRR-QLTE

Monthly-XIRR-HDFC-Equity

Note: XIRR becomes more reliable as the SIP gets older.  So ignore the large swings that occur at the start.

All the funds have done pretty well. In terms of consistency, ICICI Blue Chip > QLTE > HDFC Equity.

Try this out for your own holdings and let me know how the tool can be improved.

Download the freefincal Mutual Fund SIP XIRR Tracker (Aug 2017)

Download the latest version of the Mutual Fund SIP XIRR Tracker (April 2016)

Previous version: Mutual Fund SIP XIRR Tracker  (Feb 2016)

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About the Author 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 money management topics. 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 based on money management. Previous engagements include World Bank, RBI, BHEL, Asian Paints, Cognizant, Madras Atomic Power Station, Honeywell, Tamil Nadu Investors Association, IIST Alumni Association. For speaking engagements, write to pattu [at] freefincal [dot] com
About freefincal & its content policy Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on developments in mutual funds, stocks, investing, retirement and personal finance. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than one million readers a year (2.5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified from credible and knowledgeable sources before publication. Freefincal does not publish any paid articles, promotions, PR, satire or opinions without data. All opinions presented will only be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
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