Holding Period Return Calculator
Combine capital gain and dividend income to compute the holding period return (HPR) of a stock, splitting it into price gain and dividend yield.
Input Data
Results
At a glance:HPR measures the total return over the entire holding period, combining the capital gain ((current − bought) ÷ bought) and the cash-income yield (dividend ÷ bought); the two sum to HPR. Unlike price-only change, HPR includes dividends, interest or distributions — the true total return. It is period-based, not annualised, so it ignores holding length; perfect for comparing high-dividend vs growth stocks 'including dividends', and split into gain and income. This is the gross return before fees/tax.
Formula
Capital gain yield = (current − bought) ÷ bought × 100%.
Dividend yield = dividend ÷ bought × 100%.
HPR = capital gain yield + dividend yield.
How to Use
- Enter the per-share bought price and current (or sell) price.
- Enter the per-share dividend received during the period.
- View the HPR, split into capital gain and dividend yield.
Bought at HK$100 per share: capital gain, dividend yield and HPR by price and dividend
| Current price | Dividend | Capital gain | Dividend yield | HPR |
|---|---|---|---|---|
| HK$120 | HK$7.5 | 20.00% | 7.50% | 27.50% |
| HK$110 | HK$5.0 | 10.00% | 5.00% | 15.00% |
| HK$95 | HK$4.0 | −5.00% | 4.00% | −1.00% |
| HK$130 | HK$0.0 | 30.00% | 0.00% | 30.00% |
Case Studies
Case 1: High-dividend vs growth stock, fairly compared
Stocks A and B both bought at HK$50. A year later A is HK$60 with HK$3.75 dividend; B is HK$62 with HK$1 dividend. On price alone B's 24% beats A's 20%.
Including dividends: A's HPR = 20% + 7.5% = 27.5%; B's = 24% + 2% = 26%. With dividends, high-yield A edges ahead at 27.5%.
Lesson: picking on price alone misses the dividend; HPR is the fair tool to compare the two.
Case 2: Dividends offset a price fall
An investor buys an income stock at HK$80; a year later it falls to HK$75 but paid HK$5 per share.
Capital gain = (75 − 80) ÷ 80 = −6.25%, dividend yield = 5 ÷ 80 = 6.25%, HPR = 0%. The drop is fully offset by the dividend — break-even overall.
Lesson: in volatile markets, income stocks defend via dividends; price alone would falsely suggest a loss, but HPR shows break-even.
FAQ
Why include dividends in the return?
Price change alone understates the real return. Stock A rises 20% and pays 7.5%; stock B rises 24% and pays 2%; including dividends, A's HPR of 27.5% beats B's 26%. HPR counts both, enabling a fair comparison.
HPR vs annualised return (CAGR)?
HPR is the total return over the whole period, ignoring how long; CAGR spreads it per year. HPR of 30% in 1 year far beats 30% over 5 years. To compare across periods, annualise the HPR (use the CAGR calculator).
Stock falls but pays a dividend — what is HPR?
It depends on the net after offsetting. Bought HK$80, now HK$75, dividend HK$5: capital gain = (75 − 80) ÷ 80 = −6.25%, dividend yield = 5 ÷ 80 = 6.25%, HPR = 0%. A rich dividend can offset all or part of the price drop — that is why HPR, not price alone, matters.
Deduct fees and tax?
This calculator gives the gross return before costs. The net return also subtracts broker commission, stamp duty and levies. HK dividends are generally not taxed, but trading has stamp duty and fees. For a closer net HPR, treat the bought price as total cost (with fees) and current price as net proceeds after selling costs.
Does HPR apply to funds or bonds?
Yes. Replace 'bought price' with the amount invested, 'current price' with the current/redemption value, and 'dividend' with distributions or interest received. Fund payouts and bond coupons are the income here. For any asset, HPR merges price change and cash income for a unified comparison.
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References
Content review: Calculatorism Finance Team. Results are for reference only; please refer to the relevant authorities for the official figures.