Holding Period Return Calculator — HPR
The holding period return (HPR) measures what you earned on an investment from the day you bought it to the day you sold (or valued) it — including both price appreciation and any income like dividends. Enter the starting value, ending value, any income received, and optionally the holding duration to get both the raw HPR and the annualized equivalent.
$
$
$
days
Total return including any income over the full holding period
+27.0%
HPROriginal investment
78.7%
Total return
21.3%
- 1
Total return
12,500 − 10,000 + 200 = 2,700Ending value minus beginning value plus any income received. - 2
Holding period return (%)
2,700 ÷ 10,000 × 100 = 27
How does this calculator work?
HPR = (End value − Begin value + Income) ÷ Begin value. It measures total wealth change in percentage terms for a single holding period. Annualize it with (1 + HPR)^(365/days) − 1 to compare investments of different lengths. For example, $10,000 growing to $12,500 with $200 income = (12 500 − 10 000 + 200) / 10 000 = 27% HPR.
Formula
How this is calculated
The holding period return is the simplest measure of investment performance: it captures the total percentage change in wealth from buying to selling (or revaluing) an asset. The numerator includes both the capital gain (or loss) and any cash distributions received — dividends for stocks, coupon payments for bonds, rent for property. Dividing by the starting value converts the absolute return into a percentage that is comparable across different investment sizes.
HPR answers the question 'how much did I make?' but does not account for how long the money was invested. A 20% return over 10 years is very different from 20% in 3 months. The annualized HPR converts the raw return into an equivalent annual rate using geometric compounding: (1 + HPR)^(365/days) − 1. This allows fair comparison between investments with different holding periods.
Assumptions and limitations: income is assumed to have been received at the end of the period (no reinvestment). For very long periods the annualized figure assumes constant compounding, which may not match reality. For multiple sub-periods (e.g. monthly returns) use the time-weighted return (TWR) instead of a single HPR.
Frequently asked questions
HPR is the raw percentage return over the entire holding period, regardless of length. Annualized return converts it to a per-year equivalent using geometric compounding — (1 + HPR)^(365/days) − 1 — so you can compare a 3-month and a 5-year investment on the same scale.
Yes, for a total-return HPR. Ignoring income understates the true return, especially for dividend-paying stocks or bonds. Enter the total cash received (dividends, interest, distributions) in the Income field.
HPR and CAGR (Compound Annual Growth Rate) give the same annualized figure for a single lump-sum investment with no interim cash flows. IRR (Internal Rate of Return) is needed for irregular cash flows (multiple contributions or withdrawals) — it is the discount rate that makes the net present value of all cash flows zero.
Also known as
TG we-Calculate Editorial Team. (2026). Holding Period Return Calculator — HPR [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/holding-period-return-calculator
TG we-Calculate Editorial Team. "Holding Period Return Calculator — HPR." TG we-Calculate. 2026. https://we-calculate.com/calculator/holding-period-return-calculator.
TG we-Calculate Editorial Team, "Holding Period Return Calculator — HPR," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/holding-period-return-calculator
@misc{wecalculate_holding_period_return_calculator, title = {Holding Period Return Calculator — HPR}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/holding-period-return-calculator}}, year = {2026}, note = {TG we-Calculate} }
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