On which days or months did I most underperform?
A performance question asks what a portfolio has actually returned. The answer keeps the money you paid in apart from the money the investments made, which is why a time-weighted and a money-weighted return can differ so much on the same account.
Worked through on a sample portfolio. The figures below are that portfolio’s, not yours.
Here are the periods (month-ends) where your portfolio underperformed the benchmark by the largest margins, sorted by excess underperformance (most negative first).
| Period | Excess return (percentage points) |
|---|---|
| 2021-06-30 to 2021-07-31 | -6,91 |
| 2022-02-28 to 2022-03-31 | -5,78 |
| 2026-05-31 to 2026-06-30 | -2,42 |
| 2021-10-31 to 2021-11-30 | -2,10 |
| 2026-01-31 to 2026-02-28 | -1,90 |
| 2021-05-31 to 2021-06-30 | -1,12 |
| 2022-04-30 to 2022-05-31 | -1,17 |
| 2023-05-31 to 2023-06-30 | -1,19 |
| 2025-09-30 to 2025-10-31 | -1,30 |
| 2021-09-30 to 2021-10-31 | -4,09 |
Notes:
- Each row shows the month period and how many percentage points you were below the HSBC MSCI World UCITS ETF in that month.
- If you want, I can show the full month-by-month table with your portfolio returns and the benchmark returns side by side.
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Related questions
See this for your own portfolio
The assistant answers the same question about your own holdings, with your figures and today’s prices. Import from your broker, or open the demo portfolio and ask it there.