Include dividends in portfolio performance

2 weeks ago · 2f48aed7c3
16 changed files with 97 additions and 101 deletions
--- a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
@ -946,7 +946,6 @@ export abstract class PortfolioCalculator {
    const currentExchangeRate = exchangeRates[format(new Date(), DATE_FORMAT)];
    const currentValues: { [date: string]: Big } = {};
    const currentValuesWithCurrencyEffect: { [date: string]: Big } = {};
-    let dividends = new Big(0);
    let fees = new Big(0);
    let feesAtStartDate = new Big(0);
    let feesAtStartDateWithCurrencyEffect = new Big(0);
@ -1124,16 +1123,6 @@ export abstract class PortfolioCalculator {
        activity.feeInBaseCurrencyWithCurrencyEffect ?? 0
      );

-      if (activity.type === 'DIVIDEND') {
-        // The amount of a dividend in the base currency is the same with and
-        // without currency effect, like the dividend of the holding
-        dividends = dividends.plus(
-          activity.quantity
-            .mul(activity.unitPrice)
-            .mul(exchangeRateAtActivityDate ?? 1)
-        );
-      }
-
      totalQuantity = totalQuantity.plus(
        activity.quantity.mul(getFactor(activity.type))
      );
@ -1201,14 +1190,12 @@ export abstract class PortfolioCalculator {

      const newGrossPerformance = valueOfInvestment
        .minus(totalInvestment)
-        .plus(grossPerformanceFromSells)
-        .plus(dividends);
+        .plus(grossPerformanceFromSells);

      const newGrossPerformanceWithCurrencyEffect =
        valueOfInvestmentWithCurrencyEffect
          .minus(totalInvestmentWithCurrencyEffect)
-          .plus(grossPerformanceFromSellsWithCurrencyEffect)
-          .plus(dividends);
+          .plus(grossPerformanceFromSellsWithCurrencyEffect);

      grossPerformance = newGrossPerformance;

--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btceur.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btceur.spec.ts
@ -143,7 +143,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData[0]).toEqual({
        date: '2021-12-11',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 0,
@ -164,7 +163,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData[1]).toEqual({
        date: '2021-12-12',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 44558.42,
        netPerformance: 5535.42, // 1 * (50098.3 - 44558.42) - 4.46 = 5535.42
@ -186,7 +184,6 @@ describe('PortfolioCalculator', () => {
      ).toEqual({
        date: '2022-01-14',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: -1463.18,
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btcusd.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btcusd.spec.ts
@ -143,7 +143,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData[0]).toEqual({
        date: '2021-12-11',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 0,
@ -164,7 +163,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData[1]).toEqual({
        date: '2021-12-12',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 44558.42,
        netPerformance: 5535.42, // 1 * (50098.3 - 44558.42) - 4.46 = 5535.42
@ -186,7 +184,6 @@ describe('PortfolioCalculator', () => {
      ).toEqual({
        date: '2022-01-14',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: -1463.18,
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@ -322,7 +322,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData.at(-1)).toEqual({
        date: '2025-01-01',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 0,
@ -463,7 +462,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData.at(-1)).toEqual({
        date: '2025-01-01',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 0,
@ -608,7 +606,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData.at(-1)).toEqual({
        date: '2025-01-01',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 0,
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-msft-buy-with-dividend.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-msft-buy-with-dividend.spec.ts
@ -155,25 +155,25 @@ describe('PortfolioCalculator', () => {
              '0.001144362748184'
            ),
            fee: new Big('19'),
-            grossPerformance: new Big('33.87'),
-            grossPerformancePercentage: new Big('0.11343693482483756447'),
+            grossPerformance: new Big('33.25'),
+            grossPerformancePercentage: new Big('0.11136043941322258691'),
            grossPerformancePercentageWithCurrencyEffect: new Big(
-              '0.11343693482483756447'
+              '0.11136043941322258691'
            ),
-            grossPerformanceWithCurrencyEffect: new Big('33.87'),
+            grossPerformanceWithCurrencyEffect: new Big('33.25'),
            investment: new Big('298.58'),
            investmentWithCurrencyEffect: new Big('298.58'),
            marketPrice: 331.83,
            marketPriceInBaseCurrency: 331.83,
-            netPerformance: new Big('14.87'),
-            netPerformancePercentage: new Big('0.04980239801728180052'),
+            netPerformance: new Big('14.25'),
+            netPerformancePercentage: new Big('0.04772590260566682296'),
            netPerformancePercentageWithCurrencyEffectMap: {
-              max: new Big('0.04980239801728180052')
+              max: new Big('0.04772590260566682296')
            },
            netPerformanceWithCurrencyEffectMap: {
              '1d': new Big('-5.39'),
-              '5y': new Big('14.87'),
-              max: new Big('14.87'),
+              '5y': new Big('14.25'),
+              max: new Big('14.25'),
              wtd: new Big('-5.39')
            },
            quantity: new Big('1'),
@ -199,12 +199,11 @@ describe('PortfolioCalculator', () => {
        '1d': {
          date: '2023-07-10',
          dividendInBaseCurrency: 0,
-          dividendInPercentage: 0,
          dividendInPercentageWithCurrencyEffect: 0,
-          netPerformance: -5.390000000000002,
-          netPerformanceInPercentage: -0.015983630864124316,
-          netPerformanceInPercentageWithCurrencyEffect: -0.015983630864124316,
-          netPerformanceWithCurrencyEffect: -5.390000000000002,
+          netPerformance: -5.390000000000001,
+          netPerformanceInPercentage: -0.015983630864124312,
+          netPerformanceInPercentageWithCurrencyEffect: -0.015983630864124312,
+          netPerformanceWithCurrencyEffect: -5.390000000000001,
          totalInvestmentValueWithCurrencyEffect: 298.58,
          valueWithCurrencyEffect: 331.83
        },
@ -212,22 +211,21 @@ describe('PortfolioCalculator', () => {
          date: '2023-07-10',
          dividendInBaseCurrency: 0.62,
          dividendInPercentageWithCurrencyEffect: 0.002076495411614967,
-          netPerformance: 14.87,
-          netPerformanceInPercentage: 0.049802398017281556,
-          netPerformanceInPercentageWithCurrencyEffect: 0.049802398017281556,
-          netPerformanceWithCurrencyEffect: 14.87,
+          netPerformance: 14.25,
+          netPerformanceInPercentage: 0.04772590260566659,
+          netPerformanceInPercentageWithCurrencyEffect: 0.04772590260566659,
+          netPerformanceWithCurrencyEffect: 14.25,
          totalInvestmentValueWithCurrencyEffect: 298.58,
          valueWithCurrencyEffect: 331.83
        },
        ytd: {
          date: '2023-07-10',
          dividendInBaseCurrency: 0,
-          dividendInPercentage: 0,
          dividendInPercentageWithCurrencyEffect: 0,
-          netPerformance: -7.6800000000000015,
-          netPerformanceInPercentage: -0.022620835910577015,
-          netPerformanceInPercentageWithCurrencyEffect: -0.022620835910577015,
-          netPerformanceWithCurrencyEffect: -7.6800000000000015,
+          netPerformance: -7.68,
+          netPerformanceInPercentage: -0.022620835910577012,
+          netPerformanceInPercentageWithCurrencyEffect: -0.022620835910577012,
+          netPerformanceWithCurrencyEffect: -7.68,
          totalInvestmentValueWithCurrencyEffect: 298.58,
          valueWithCurrencyEffect: 331.83
        }
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-novn-buy-and-sell.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-novn-buy-and-sell.spec.ts
@ -140,7 +140,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData[0]).toEqual({
        date: '2022-03-06',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 0,
@ -162,7 +161,6 @@ describe('PortfolioCalculator', () => {
      expect(portfolioSnapshot.historicalData[1]).toEqual({
        date: '2022-03-07',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 151.6,
        netPerformance: 0, // 2 * (75.8 - 75.8) = 0
@ -184,7 +182,6 @@ describe('PortfolioCalculator', () => {
      ).toEqual({
        date: '2022-04-11',
        dividendInBaseCurrency: 0,
-        dividendInPercentage: 0,
        dividendInPercentageWithCurrencyEffect: 0,
        investmentValueWithCurrencyEffect: 0,
        netPerformance: 19.86,
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
@ -192,13 +192,6 @@ export class RoaiPortfolioCalculator extends PortfolioCalculator {
      }
    ] of Object.entries(accumulatedValuesByDate)) {
      performancePercentagesByDate[date] = {
-        dividendInPercentage:
-          hasDividendWithoutAverageInvestment ||
-          totalAverageInvestmentValue.eq(0)
-            ? 0
-            : totalDividendValueWithCurrencyEffect
-                .div(totalAverageInvestmentValue)
-                .toNumber(),
        dividendInPercentageWithCurrencyEffect:
          hasDividendWithoutAverageInvestment ||
          totalAverageInvestmentValueWithCurrencyEffect.eq(0)
@ -282,10 +275,6 @@ export class RoaiPortfolioCalculator extends PortfolioCalculator {
          : 0;

      performancePercentagesByDate[historicalDataItem.date] = {
-        dividendInPercentage:
-          !hasDividendWithoutAverageInvestment && averageInvestmentValue > 0
-            ? historicalDataItem.dividendInBaseCurrency / averageInvestmentValue
-            : 0,
        dividendInPercentageWithCurrencyEffect:
          !hasDividendWithoutAverageInvestment &&
          averageInvestmentValueWithCurrencyEffect > 0
--- a/apps/api/src/app/portfolio/portfolio.service.ts
+++ b/apps/api/src/app/portfolio/portfolio.service.ts
@ -1226,7 +1226,6 @@ export class PortfolioService {
          currentNetWorth: 0,
          currentValueInBaseCurrency: 0,
          dividendInBaseCurrency: 0,
-          dividendPercentage: 0,
          dividendPercentageWithCurrencyEffect: 0,
          netPerformance: 0,
          netPerformancePercentage: 0,
@ -1260,7 +1259,6 @@ export class PortfolioService {

    const {
      dividendInBaseCurrency,
-      dividendInPercentage,
      dividendInPercentageWithCurrencyEffect,
      netPerformance,
      netPerformanceInPercentage,
@ -1272,7 +1270,6 @@ export class PortfolioService {
      valueWithCurrencyEffect
    } = chart?.at(-1) ?? {
      dividendInBaseCurrency: 0,
-      dividendInPercentage: 0,
      dividendInPercentageWithCurrencyEffect: 0,
      netPerformance: 0,
      netPerformanceInPercentage: 0,
@ -1296,7 +1293,6 @@ export class PortfolioService {
        totalInvestmentValueWithCurrencyEffect,
        currentNetWorth: netWorth,
        currentValueInBaseCurrency: valueWithCurrencyEffect,
-        dividendPercentage: dividendInPercentage,
        dividendPercentageWithCurrencyEffect:
          dividendInPercentageWithCurrencyEffect,
        netPerformancePercentage: netPerformanceInPercentage,
@ -2144,6 +2140,7 @@ export class PortfolioService {

    const {
      currentValueInBaseCurrency,
+      dividendPercentageWithCurrencyEffect,
      netPerformance,
      netPerformancePercentage,
      netPerformancePercentageWithCurrencyEffect,
@ -2240,6 +2237,7 @@ export class PortfolioService {
      cash,
      currentValueInBaseCurrency,
      dateOfFirstActivity,
+      dividendPercentageWithCurrencyEffect,
      excludedAccountsAndActivities,
      netPerformance,
      netPerformancePercentage,
--- a/apps/api/src/app/portfolio/types/performance-percentages.type.ts
+++ b/apps/api/src/app/portfolio/types/performance-percentages.type.ts
@ -3,7 +3,6 @@ import { HistoricalDataItem } from '@ghostfolio/common/interfaces';
 export type PerformancePercentages = Required<
  Pick<
    HistoricalDataItem,
-    | 'dividendInPercentage'
    | 'dividendInPercentageWithCurrencyEffect'
    | 'netPerformanceInPercentage'
    | 'netPerformanceInPercentageWithCurrencyEffect'
--- a/apps/client/src/app/components/portfolio-summary/portfolio-summary.component.html
+++ b/apps/client/src/app/components/portfolio-summary/portfolio-summary.component.html
@ -94,13 +94,7 @@
        [locale]="locale"
        [precision]="precision"
        [unit]="displayedCurrency"
-        [value]="
-          user?.settings?.isExperimentalFeatures &&
-          summary?.grossPerformanceWithCurrencyEffect !== null
-            ? summary?.grossPerformanceWithCurrencyEffect -
-              summary?.dividendInBaseCurrency
-            : summary?.grossPerformanceWithCurrencyEffect
-        "
+        [value]="summary?.grossPerformanceWithCurrencyEffect"
      />
    </div>
  </div>
@ -153,7 +147,7 @@
        [locale]="locale"
        [precision]="precision"
        [unit]="displayedCurrency"
-        [value]="summary?.netPerformanceWithCurrencyEffect"
+        [value]="netPerformanceWithCurrencyEffect"
      />
    </div>
  </div>
@ -166,8 +160,7 @@
      ) {
        <abbr
          class="d-none d-sm-inline-block initialism ml-2 text-muted"
-          i18n-title
-          title="Return on Average Investment (total return with dividends)"
+          title="Return on Average Investment"
          >(ROAI)</abbr
        >
      }
@ -180,7 +173,7 @@
        [isLoading]="isLoading"
        [isPercent]="true"
        [locale]="locale"
-        [value]="summary?.netPerformancePercentageWithCurrencyEffect"
+        [value]="netPerformancePercentageWithCurrencyEffect"
      />
    </div>
  </div>
--- a/apps/client/src/app/components/portfolio-summary/portfolio-summary.component.ts
+++ b/apps/client/src/app/components/portfolio-summary/portfolio-summary.component.ts
@ -137,6 +137,36 @@ export class GfPortfolioSummaryComponent implements OnChanges {
    );
  }

+  protected get netPerformancePercentageWithCurrencyEffect() {
+    if (
+      !this.user?.settings?.isExperimentalFeatures ||
+      !isNumber(this.summary?.netPerformancePercentageWithCurrencyEffect)
+    ) {
+      return this.summary?.netPerformancePercentageWithCurrencyEffect;
+    }
+
+    // Include the dividends (total return)
+    return (
+      this.summary.netPerformancePercentageWithCurrencyEffect +
+      (this.summary.dividendPercentageWithCurrencyEffect ?? 0)
+    );
+  }
+
+  protected get netPerformanceWithCurrencyEffect() {
+    if (
+      !this.user?.settings?.isExperimentalFeatures ||
+      !isNumber(this.summary?.netPerformanceWithCurrencyEffect)
+    ) {
+      return this.summary?.netPerformanceWithCurrencyEffect;
+    }
+
+    // Include the dividends (total return)
+    return (
+      this.summary.netPerformanceWithCurrencyEffect +
+      this.summary.dividendInBaseCurrency
+    );
+  }
+
  public ngOnChanges() {
    if (this.summary) {
      if (
--- a/apps/client/src/app/pages/faq/overview/faq-overview-page.html
+++ b/apps/client/src/app/pages/faq/overview/faq-overview-page.html
@ -52,8 +52,8 @@
          calculation method based on the average amount of capital invested
          over time. ROAI aims to provide a more insightful view of investment
          performance than simpler approaches, especially when contributions are
-          made over time. Dividends are included in the calculation (total
-          return).</mat-card-content
+          made over time. Dividends are not part of the
+          calculation.</mat-card-content
        >
      </mat-card>
      <mat-card appearance="outlined" class="mb-3">
--- a/apps/client/src/app/pages/portfolio/analysis/analysis-page.component.ts
+++ b/apps/client/src/app/pages/portfolio/analysis/analysis-page.component.ts
@ -133,6 +133,36 @@ export class GfAnalysisPageComponent implements OnInit {
    addIcons({ copyOutline, ellipsisVertical });
  }

+  protected get netPerformancePercentageWithCurrencyEffect() {
+    if (
+      !this.user?.settings?.isExperimentalFeatures ||
+      !isNumber(this.performance?.netPerformancePercentageWithCurrencyEffect)
+    ) {
+      return this.performance?.netPerformancePercentageWithCurrencyEffect;
+    }
+
+    // Include the dividends (total return)
+    return (
+      this.performance.netPerformancePercentageWithCurrencyEffect +
+      (this.performance.dividendPercentageWithCurrencyEffect ?? 0)
+    );
+  }
+
+  protected get netPerformanceWithCurrencyEffect() {
+    if (
+      !this.user?.settings?.isExperimentalFeatures ||
+      !isNumber(this.performance?.netPerformanceWithCurrencyEffect)
+    ) {
+      return this.performance?.netPerformanceWithCurrencyEffect;
+    }
+
+    // Include the dividends (total return)
+    return (
+      this.performance.netPerformanceWithCurrencyEffect +
+      this.performance.dividendInBaseCurrency
+    );
+  }
+
  get savingsRate() {
    if (!this.savingsRatePerMonth) {
      return undefined;
--- a/apps/client/src/app/pages/portfolio/analysis/analysis-page.html
+++ b/apps/client/src/app/pages/portfolio/analysis/analysis-page.html
@ -167,13 +167,7 @@
                [isLoading]="isLoadingInvestmentChart"
                [locale]="user?.settings?.locale"
                [unit]="user?.settings?.baseCurrency"
-                [value]="
-                  user?.settings?.isExperimentalFeatures &&
-                  performance?.netPerformance !== null
-                    ? performance?.netPerformance -
-                      performance?.dividendInBaseCurrency
-                    : performance?.netPerformance
-                "
+                [value]="performance?.netPerformance"
              />
            </div>
          </div>
@ -189,12 +183,7 @@
                [isLoading]="isLoadingInvestmentChart"
                [isPercent]="true"
                [locale]="user?.settings?.locale"
-                [value]="
-                  user?.settings?.isExperimentalFeatures
-                    ? performance?.netPerformancePercentage -
-                      (performance?.dividendPercentage ?? 0)
-                    : performance?.netPerformancePercentage
-                "
+                [value]="performance?.netPerformancePercentage"
              />
            </div>
          </div>
@ -232,7 +221,7 @@
                  [isLoading]="isLoadingInvestmentChart"
                  [isPercent]="true"
                  [locale]="user?.settings?.locale"
-                  [value]="performance?.dividendPercentage"
+                  [value]="performance?.dividendPercentageWithCurrencyEffect"
                />
              </div>
            </div>
@ -297,7 +286,7 @@
                [isLoading]="isLoadingInvestmentChart"
                [locale]="user?.settings?.locale"
                [unit]="user?.settings?.baseCurrency"
-                [value]="performance?.netPerformanceWithCurrencyEffect"
+                [value]="netPerformanceWithCurrencyEffect"
              />
            </div>
          </div>
@ -310,8 +299,7 @@
              ) {
                <abbr
                  class="d-none d-sm-inline-block initialism ml-2 text-muted"
-                  i18n-title
-                  title="Return on Average Investment (total return with dividends)"
+                  title="Return on Average Investment"
                  >(ROAI)</abbr
                >
              }
@ -324,9 +312,7 @@
                [isLoading]="isLoadingInvestmentChart"
                [isPercent]="true"
                [locale]="user?.settings?.locale"
-                [value]="
-                  performance?.netPerformancePercentageWithCurrencyEffect
-                "
+                [value]="netPerformancePercentageWithCurrencyEffect"
              />
            </div>
          </div>
--- a/libs/common/src/lib/interfaces/historical-data-item.interface.ts
+++ b/libs/common/src/lib/interfaces/historical-data-item.interface.ts
@ -2,7 +2,6 @@ export interface HistoricalDataItem {
  averagePrice?: number;
  date: string;
  dividendInBaseCurrency?: number;
-  dividendInPercentage?: number;
  dividendInPercentageWithCurrencyEffect?: number;
  grossPerformancePercent?: number;
  investmentValueWithCurrencyEffect?: number;
--- a/libs/common/src/lib/interfaces/portfolio-performance.interface.ts
+++ b/libs/common/src/lib/interfaces/portfolio-performance.interface.ts
@ -3,7 +3,6 @@ export interface PortfolioPerformance {
  currentNetWorth?: number;
  currentValueInBaseCurrency: number;
  dividendInBaseCurrency: number;
-  dividendPercentage?: number;
  dividendPercentageWithCurrencyEffect?: number;
  netPerformance: number;
  netPerformancePercentage: number;