Choose the meaning of the return
Share-price mode grows the entered price at the assumed effective annual price-growth rate and displays a corresponding portfolio value. Portfolio total-return mode grows the starting portfolio using a rate that already includes dividends. Entering an additional dividend yield in that mode would count the same component twice, so it is not added.
Annual reinvestment has an explicit order
The separate dividend mode first applies annual price growth, then assumes a dividend equal to the entered yield on the post-growth portfolio, then deducts the balance fee. Dividends buy fractional shares at the year-end price. A partial final year uses an interpolated combined annual factor; it does not represent an actual ex-dividend calendar.
These are hypothetical paths
No live prices, historical security data or market forecasts are used. A smooth price path cannot capture drawdowns, trading spreads, corporate actions or changing dividend policies. Price-only mode excludes fees and dividends. Portfolio modes show fees but do not include taxes or trading commissions.
Questions about this calculation
How can I check the inputs behind the result?
Open “Show calculation & assumptions” for the formula and timing conventions, then inspect the breakdown. Export CSV to keep the last calculated inputs and numerical results together.
Does this include taxes or changing market returns?
No tax calculation or variable market-return path is included. The task-specific assumptions above describe the scope. Calculated values are conditional on the inputs, not personalized recommendations.
Learn more
Start with the step-by-step future value formula guide.
Open the formula guide →How to calculate future value · Spreadsheet calculations · All learning guides
Use these figures to explore assumptions. Actual interest, returns, fees, taxes and purchasing power can differ.