Annualized Rate of Return Calculator
Convert a return earned over a period other than one year into an equivalent annual rate for fair comparison.
輸入資料
計算結果
重點速覽：The annualized (effective) rate of return converts a return earned over a period other than one year into an equivalent annual rate, so investments of different holding periods and frequencies can be compared on the same basis. Formula: annualized rate = (1 + r)^n - 1, where r is the rate per period (decimal) and n is the number of periods in a year. WARNING: This is a nominal rate assuming the same period return recurs; it does not reflect volatility, fees or reinvestment risk.
計算公式
年化回報率 = (1 + 期回報率)^每年期數 − 1。
例如季回報 5%、一年 4 期：(1 + 0.05)^4 − 1 ≈ 21.55%。
此公式假設每期回報再投資 (複利)，因此年化值高於單純把期回報乘以期數。
$$\text{年化回報率} = (1 + r_p)^{m} - 1$$$$r_p = \text{每期回報率}, \quad m = \text{每年期數}$$使用說明
- Enter the return earned in a single period (as a percentage).
- Enter how many such periods make up a year (12, 4, 2 ...).
- View the equivalent annualized rate of return.
不同期回報率與每年期數對應的年化回報率
| 每期回報率 | 每年期數 | 年化回報率 | 說明 |
|---|---|---|---|
| 1% | 12 (每月) | 12.68% | 月回報 1% 年化 |
| 2% | 4 (每季) | 8.24% | 季回報 2% 年化 |
| 5% | 4 (每季) | 21.55% | 本工具預設值 |
| 10% | 1 (每年) | 10.00% | 已是年回報，不變 |
| −3% | 4 (每季) | −11.47% | 虧損也會被複利放大 |
理財情境案例
案例一：把季回報換算成年回報
某基金某一季回報 5%，想知道若每季都維持這水平，一年的等值回報是多少。年化回報率 = (1 + 0.05)⁴ − 1 = 21.55%。
注意這比直接 5% × 4 = 20% 高出 1.55 個百分點，差額正是複利 — 每季賺到的回報再投入下一季生息。
案例二：比較不同持有期的投資
投資 A 月回報 1%，投資 B 季回報 2%。直接看，A 的 1% 似乎較小，但年化後 A = (1.01)¹² − 1 = 12.68%，B = (1.02)⁴ − 1 = 8.24%。
換算到同一年度基準後，A 其實回報更高。這正是年化回報率的價值 — 把月/季/半年等不同頻率的回報放到同一把尺上公平比較。
常見問題
Why annualize a return?
Different investments earn returns over different periods (monthly, quarterly, semi-annual). Annualizing puts them on a common one-year basis so you can compare them fairly.
How is the annualized return calculated?
Use (1 + r)^n - 1, where r is the per-period rate as a decimal and n is the number of periods per year. A monthly 1% return annualizes to (1.01)^12 - 1 = 12.68%; a quarterly 2% return annualizes to (1.02)^4 - 1 = 8.24%.
Does annualized return reflect the real risk?
No. It assumes the same period return repeats and ignores volatility, fees and reinvestment risk. It is useful for comparison but not a guarantee of future results.
相關工具
參考資料
內容審核：香港計算器財經團隊。計算邏輯與公式參考香港金融管理局（HKMA）及投資者及理財教育委員會（IFEC）之個人理財計算指引，結果僅供參考，實際以相關機構公佈為準。