Renditen

Renditen describe the gains generated by an asset or investment over a given period, typically expressed as a percentage of the invested capital. They can be nominal or real (adjusted for inflation) and may be reported gross (before costs) or net (after fees, taxes and other expenses). Renditen can be periodic, such as annual returns, or represent the total return over the entire holding period, including income and capital gains or losses.

In financial markets, Renditen arise from two main sources: capital appreciation (price changes) and income (such as dividends or interest). For equities, the total Rendite equals the sum of price changes and dividend payments. For bonds, Rendite is influenced by coupon payments and any price movement, often summarized by yields such as yield to maturity or yield to call. Different asset classes have different typical measures of Rendite to reflect their cash flows and risk profiles.

Common performance measures include simple return, compound annual growth rate (CAGR), and, in project evaluation, internal rate of return (IRR) and return on investment (ROI). For fixed income, yield metrics capture expected cash flows, while benchmarks and indices are used to assess relative performance. Investors also consider real returns, which subtract expected inflation, and risk-adjusted returns, such as metrics that relate Renditen to volatility or downside risk.

Renditen are influenced by risk, time horizon, fees, taxes and currency effects. Higher potential Renditen generally accompany higher risk and longer investment periods. Historical Renditen may not predict future results, and assessments can be affected by biases and data quality.