Rolling returns calculator
Last updated
What to check
Growth option. Direct plans have NAVs from 2013; regular plans often go back further.
Start of history, 28 May 2013
Latest, 30 Oct 2026
Both are measured over the same start dates.
3-year rolling returns
ExampleFlexi cap fund Direct · Growth
Example: a flexi cap fund's real NAV history. Pick any fund or index to see its own.
How the 3-year returns were spread
| Return a year | Flexi cap fund |
|---|---|
| Below −10% | 0 |
| −10 to 0% | 0 |
| 0 to 5% | 15 |
| 5 to 8% | 36 |
| 8 to 12% | 172 |
| 12 to 15% | 605 |
| 15 to 20% | 538 |
| Over 20% | 1199 |
Number of 3-year periods in each yearly return range (CAGR). Dark bars: returns below 0%.
How often it beat these levels
- Above 0% a year100%
- Above 8% a year98%
- Above 12% a year91%
3-year return by start date
One point a week, % a yearEach point is the yearly return (CAGR) of a 3-year period that started that week.
Point-to-point over the whole 13 years (28 May 2013 to 30 Oct 2026): 17.7% a year. One number from one start date; the rolling view above shows the range behind it.
Past performance is not indicative of future results. Source: AMFI daily NAVs via Kalpi, as of 30 Oct 2026.
See rolling returns for a strategy you build
Write your own stock-picking rules in Kalpi and backtest them on Indian stocks, with rolling returns, drawdowns and a monthly returns heatmap. Results are hypothetical.
What are rolling returns?
Rolling returns are the yearly returns (CAGR) for every period of a fixed length in an investment's history. For 3-year rolling returns, you take the return from each start date to the date three years later, then move the start date forward and repeat. The result is a range of returns, not one number.
In the example above, a flexi cap fund's 3-year returns ranged from 0.5% to 37.6% a year across 2,565 start dates, with a median of 19.1%. Its single point-to-point return from 28 May 2013 to 30 Oct 2026 was 17.7% a year.
Rolling returns vs point-to-point returns
| Question | Point-to-point (trailing) | Rolling |
|---|---|---|
| Start dates | One | Every trading day in the history |
| Result | A single return | Best, worst, average and spread |
| Sensitive to timing | Very: a crash near the start or end changes it | Much less |
| Shows consistency | No | Yes |
How the calculator works
For each start date, it divides the value at the end of the period by the value at the start and turns that into a yearly return. It repeats this for every trading day in the range you pick, then summarises all the results. If the end date is a holiday, it uses the next available NAV; across a gap in the data it carries the last NAV forward up to 5 days, and skips the start date beyond that.
Rolling return from day t = (Value on day t + N years ÷ Value on day t)^(1 ÷ N) − 1
Funds use growth-plan NAVs, where dividends stay inside the fund, from AMFI's daily NAV history. For a merged scheme, the history is the surviving scheme's own. Index figures follow a low-cost index fund that tracks the index, so they include its small yearly cost (about 0.2–0.5%). With a comparison, both series are measured only on the start dates they share. Point-to-point is the CAGR from the first to the last NAV in the range.
How to read your result
| What you see | What it tells you |
|---|---|
| Worst return | The weakest outcome an investor who held for that long actually had. |
| Median vs average | If the average is well above the median, a few very strong periods are lifting it. |
| A narrow spread | Returns were more consistent across start dates. |
| Longer periods | Usually a narrower range and fewer negative periods. |
Rolling returns show the range of past outcomes, not the next one. To see how deep a fund's falls were and how long it took to recover, use the mutual fund drawdown tool; for how rolling returns are used in strategy backtests, see Kalpi's docs or try the strategy builder. More calculators are on the free tools page.
Frequently Asked Questions
What is rolling return in mutual funds?
It is the yearly return of a fund over every period of a fixed length, such as every 3-year window in its history. Instead of one return from one start date, you get a range: best, worst, average and how often the fund stayed above a given level.
How is rolling return calculated?
Pick a period length, say 3 years. For each start date, divide the NAV three years later by the NAV on the start date and turn it into a yearly return (CAGR). Move the start date forward one trading day and repeat until the end of the data, then summarise all the results.
What is the difference between rolling returns and trailing returns?
A trailing (point-to-point) return measures one period ending today, so it changes a lot with recent market moves. Rolling returns measure every period of the same length across the history, so they show how consistent the returns were regardless of when someone invested.
Why are rolling returns considered more reliable than point-to-point returns?
One start or end date can flatter or hurt a return, for example if it falls just after a crash. Rolling returns spread that timing effect across every start date and show the worst and best cases, which gives a fuller picture of past performance.
Which rolling period should I look at?
Match it to how long you expect to stay invested. Someone holding for five years learns more from 5-year rolling returns than from 1-year ones. Longer periods need a longer history: a fund with six years of NAVs has only about one year of 5-year start dates.
Can I check rolling returns for an index or a stock?
Indices, yes: switch to Index and pick the Nifty 50, Nifty Next 50, Nifty 100, Nifty 500, Nifty Midcap 150, Nifty Smallcap 250, Nifty Bank, BSE Sensex or a blend. Each index is followed through a low-cost index fund that tracks it. Individual stocks are not covered by this calculator yet.
Do rolling returns include dividends?
For funds, the calculator uses growth-plan NAVs, where dividends stay inside the fund, so they are included. Indices are followed through index funds, which reinvest dividends, so their figures track the total return index less the fund’s small yearly cost.
How do I compare two funds using rolling returns?
Use “Compare with” to add the fund's benchmark, an index or a second fund. Both are measured over the same start dates, so you can see which had the higher median and the narrower spread over the same history. For a year-by-year view against the index, use the fund vs benchmark checker.
Do rolling returns predict future returns?
No. They describe how an investment behaved in the past across many start dates. Markets, fund managers and costs change, so future returns can be higher or lower than anything shown in the history.
Why do some periods show no result?
A rolling period needs a full window of data. If a fund launched four years ago, it has no 5-year periods yet, and its 3-year periods only start from its first year. Start dates are also skipped where the NAV data has a gap of more than 5 days around the end date.
For education only. This calculator shows past returns over rolling periods; it is not a recommendation to buy, sell or hold any fund or index. NAVs are from AMFI through Kalpi’s data feed and may have small gaps. Past performance is not indicative of future results. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.