Level 5 • FundSage Academy

Reading Your Portfolio

•Updated for FY 2025-26•By FundSageAI Quantitative Research Team

Making sense of XIRR, CAGR, absolute returns, and the numbers on your portfolio dashboard.

What You Will Learn in This Level

Level 5 provides actionable mutual fund frameworks calibrated for Indian retail investors. Mastering these lessons protects your portfolio from common psychological traps, hidden expense drag, and improper asset allocation.

✓Reading Your CAS: Get a consolidated CAS across all your PANs before doing any portfolio analysis — it's the only complete picture of what you own.

✓XIRR Explained: For any portfolio built with multiple contributions over time, XIRR — not absolute return — is the number that reflects your true annualized performance.

✓CAGR vs XIRR: One lump sum, no other transactions: CAGR works fine. Any SIP or multiple cash flows: use XIRR.

✓What Is a Portfolio Health Score?: Use a health score as a starting point to investigate, not as the final answer — the components behind it matter more than the number itself.

Lessons in Level 5

Reading Your CAS

Intermediate · 4 min read

XIRR Explained

Intermediate · 4 min read

CAGR vs XIRR

Intermediate · 4 min read

What Is a Portfolio Health Score?

Intermediate · 4 min read

Fund Overlap in Your Portfolio

Intermediate · 4 min read

Hidden Risks in Your Portfolio

Intermediate · 4 min read

Benchmark Comparison Explained

Intermediate · 4 min read

Performance Attribution Explained

Intermediate · 4 min read

Rolling Returns Explained

Intermediate · 4 min read

Alpha Explained

Intermediate · 4 min read

Beta Explained

Intermediate · 4 min read

Standard Deviation Explained

Intermediate · 4 min read

Sharpe Ratio vs Sortino Ratio

Intermediate · 5 min read

Frequently Asked Questions: Reading Your Portfolio

Where do I get a CAS?

CAMS and KFintech (the two major mutual fund registrars in India) both offer free CAS requests via email to your registered email ID, covering all AMCs serviced by either registrar.

How often should I check my CAS?

Reviewing it every few months, or before any major portfolio decision (rebalancing, tax planning), is a reasonable cadence for most investors.

Does a CAS include stocks or only mutual funds?

A standard mutual fund CAS covers only mutual fund holdings. A broader Consolidated Account Statement covering demat holdings (stocks, ETFs) is a separate NSDL/CDSL statement.

Can I upload my CAS to FundSageAI?

Yes — FundSageAI is built to parse CAS statements directly, turning the raw data into portfolio analytics like overlap, allocation, and XIRR automatically.

Do I need to calculate XIRR myself?

No — most portfolio trackers and analytics platforms, including FundSageAI, calculate XIRR automatically once your transaction history is available.