How do I track my net worth across multiple brokers and currencies?
Short answer. Put every account into one ledger, value each position in the currency it actually trades in, convert everything to one base currency at the same published exchange rate, and measure return with a method that ignores when you added or withdrew money. That last part is the time-weighted return, and it's the one most tools skip.
This page explains how Ormax does each step and where the numbers have limits.
1. One ledger for every account
People with money in more than one country usually have several sources, each with its own format: a US brokerage, a European bank, an exchange account, a crypto wallet, a stake in a private company.
Ormax brings them into one portfolio in three ways:
- Connected accounts — brokerage and bank accounts linked through a data aggregator, and crypto wallets.
- Statements — you upload a broker or bank statement and Ormax reads the positions from it.
- Manual assets — property, private company shares, loans you've given and anything else without a feed. You enter the value yourself.
If the same account shows up twice, say from a statement and a live connection, it should be counted once. Ormax checks for this when you add a statement for an institution that's already connected.
2. Each position in its own currency
A Swiss ETF is priced in CHF and a US stock in USD. Converting them early, at whatever rate a broker used on its statement, mixes the investment's movement with the exchange rate on an unknown date.
Ormax keeps two layers apart:
- Every position and every cash flow is valued in its native currency and converted to your base currency at the rate for that day. Ormax uses the euro reference rates published by the European Central Bank each working day. For the few currencies the ECB doesn't cover, it uses a market data provider.
- Totals are then shown in the display currency you pick.
Currency is part of your return, and it can be most of it:
Illustration. You hold €100,000 in a European fund that ends the year flat: 0% in euros. Over the same year EUR/USD moves from 1.05 to 1.15. Measured in US dollars, that position returned +9.5%, all of it currency.
A tool that shows only the euro return tells a dollar-based investor nothing about that 9.5%. A tool that mixes rates from different dates gives a number that neither shows nor removes it.
3. Return that ignores when you added money
There are two standard ways to measure return, and they answer different questions.
- Money-weighted return (IRR) answers "what happened to my money?" It depends on when you deposited and withdrew.
- Time-weighted return (TWR) answers "how did my investments perform?" It removes the effect of deposits and withdrawals. This is the number you compare with an index, and the one institutions use to compare managers.
Illustration. Two investors have the same two quarters: one at −10%, one at +20%. Both start with $100,000 and add $400,000 between the quarters.
A has the −10% quarter first: $100,000 → $90,000, adds $400,000 → $490,000, then +20% → $588,000. Money in: $500,000. Money-weighted return for the half-year: about +31%.
B has the +20% quarter first: $100,000 → $120,000, adds $400,000 → $520,000, then −10% → $468,000. Money weighted: about −10.5%.
Time-weighted, both are the same: 0.90 × 1.20 = 1.08, so +8%. Neither investor picked better investments; the deposit simply landed before a different quarter.
How Ormax calculates it. The portfolio is valued every day. Each day's return compares the end value with the start value, after removing that day's deposits and withdrawals. Daily returns are then chained: (1 + r₁) × (1 + r₂) × … − 1. Deposits and withdrawals are treated as happening at the start of the day. The one exception is money taken out after selling a private asset: it leaves at the end of the day, because the money can't leave before the sale happens.
Ormax reports the time-weighted return. It can be compared with an index (for example the S&P 500, total return) over the same dates. The comparison is information, not a recommendation.
4. What "net worth" includes
Net worth = everything you own − everything you owe. That covers every connected account, every statement, every manual asset and every liability: mortgages, loans, card balances.
Return is calculated on a narrower base: investable assets. Your home or a cash buffer counts towards net worth, but if it were in the return, its revaluation would look like investment performance. Brokerage and investment accounts are investable by default. Cash accounts, property and liabilities are not. You can switch an account in or out, and Ormax records the switch as a deposit or a withdrawal so the return doesn't jump.
So a total net worth figure and a return figure in Ormax can rest on different bases on purpose. The page says which one you're looking at.
5. Where the numbers have limits
We'd rather you knew these before you rely on a number.
- Missing prices. If a position has no market price and you haven't given a value, it counts as zero and Ormax flags the portfolio as incomplete.
- Your own estimates. If a position is valued at the estimate you entered, Ormax marks that part of the total as resting on your estimate, not a market price.
- Crypto transfers. For wallets, Ormax sees current balances, not the transfer history. A coin moved in from elsewhere can look like growth, so returns for crypto-heavy portfolios are approximate.
- History starts when you connect. Returns are built forward from the day an account is added; Ormax doesn't rewrite the past.
- Statements are snapshots. A position from an uploaded statement doesn't update until you upload the next one or connect the account.
Frequently asked
Is IRR wrong?
No. IRR tells you what happened to your money, including the effect of your own timing. TWR tells you how the investments did. They answer different questions, and seeing both side by side is useful. Ormax reports TWR.
Which exchange rate does Ormax use?
The European Central Bank's euro reference rate for each working day. For currencies the ECB doesn't publish, a market data provider.
Does Ormax tell me what to buy or sell?
No. Ormax doesn't give personalized investment advice, manage money or trade. It shows where you stand, using your own data.
Can I see my whole net worth in one currency?
Yes. Pick a display currency and every total is shown in it.
Ormax is an AI-native system of record for private wealth: every account, nine asset classes, multiple currencies, and an honest time-weighted return. See how it works →
Numbers on this page are illustrations, not results of any real portfolio. Nothing here is investment advice.