현금 드래그 추정기 계산기
무료 계산기: 현금 보유 vs 완전 투자의 기회비용을 수량화하세요.
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작동 방식
Enter portfolio size, cash allocation, return assumptions, and years. See cumulative opportunity cost from holding cash. Start with your actual brokerage cash percentage including money market and stable value funds. Set market return to match your target allocation blend, for example 60/40 might use 7%. Set cash return to your current savings or money market APY. Include pending trade settlements and uninvested dividend cash in your cash percentage for accuracy. Enter portfolio value, cash percent, and expected return on invested assets versus cash yield to quantify annual drag. Enter cash percent of portfolio and spread between expected equity return and cash yield to annualize drag. Enter portfolio value, cash percent, and expected return on invested assets versus cash yield to quantify annual drag. Enter cash percent of portfolio and spread between expected equity return and cash yield to annualize drag.
Review yearly drag and annualized drag percentage to decide whether your cash buffer is worth the return tradeoff. Compare a 5%, 10%, and 20% cash scenario to find your personal sweet spot. Pair results with your emergency fund needs: drag cost is the price of liquidity and optionality during market selloffs. Dollar cost averaging from cash over 12 months reduces timing risk but extends drag across the deployment period. Raise cash percent in five point steps to see nonlinear drag growth as uninvested cash compounds at lower rate. Target cash percent policy of five percent on one million portfolio costs roughly half percent annual return drag at typical spreads. Emergency fund cash is rational drag: separate twelve month expenses before optimizing remainder. Raise cash percent in five point steps to see nonlinear drag growth as uninvested cash compounds at lower rate. Target cash percent policy of five percent on one million portfolio costs roughly half percent annual return drag at typical spreads. Emergency fund cash is rational drag: separate twelve month expenses before optimizing remainder.
보수적 및 낙관적 시나리오로 가정을 테스트하세요. 다양한 입력값 간 결과를 비교하세요. 결정을 내리기 전에 민감도 분석을 실행하세요.
입력값이 변경될 때마다 현금 드래그 추정기을(를) 사용하세요: 시장 변동, 새로운 기여금 또는 수정된 개인 가정 후. 소프트웨어 설치 없이 빠른 재실행을 위해 페이지를 북마크하세요.
단계별 안내
- 현금 드래그 추정기을(를) 열고 현재 입력값을 입력하세요.
- 계산된 출력과 요약 테이블을 검토하세요.
- 가정을 조정하고 시나리오를 나란히 비교하세요.
실전 예제
Example scenario for Cash Drag Estimator: 7%, 5%, 10%. Enter those values above to reproduce the walkthrough described in How it works.
한 번에 하나의 입력을 조정하여 민감도를 확인하세요. 현금 드래그 추정기은(는) 즉시 업데이트되므로 행동하기 전에 낙관적 및 보수적 가정을 스트레스 테스트할 수 있습니다.
이 계산기를 사용할 때
Reach for Cash Drag Estimator when quantify opportunity cost of holding cash vs staying fully invested.. It suits quick what if analysis before trades, allocation changes, or plan updates.
결정이 세금, 유동성 또는 하나의 공식이 포착하는 것 이상의 다년 전망을 포괄할 때 관련 도구와 함께 사용하세요.
흔한 실수
입력 단위나 오래된 시장 가격을 확인하지 않고 출력을 복사하는 것은 현금 드래그 추정기에서 흔한 오류입니다. 행동하기 전에 티커, 백분율 및 날짜를 확인하세요.
단일 기준 시나리오만 실행하면 꼬리 위험을 무시합니다. 보수적 입력으로 스트레스 테스트하고 결정이 중요할 때 아래 나열된 관련 도구와 비교하세요.
공식
Invested = Portfolio × (1 − Cash%) × (1 + Market Return)^Years
Cash = Portfolio × Cash% × (1 + Cash Return)^Years
Drag = Fully Invested − Actual
Simplified model with constant returns. Does not model rebalancing, tax drag on cash interest, or varying cash levels over time. Use for planning estimates on a fixed allocation. Assumes constant return spread between cash and investments: volatile years widen realized drag versus estimate. Spread between expected equity return and cash yield widens in high rate environments. T bills and money market yields move with Fed policy: update cash yield quarterly for accurate drag estimate. Update cash yield after Fed moves: money market rates track policy rate closely. Assumes constant return spread between cash and investments: volatile years widen realized drag versus estimate. Spread between expected equity return and cash yield widens in high rate environments. T bills and money market yields move with Fed policy: update cash yield quarterly for accurate drag estimate. Update cash yield after Fed moves: money market rates track policy rate closely.
제한 사항 및 가정
Simplified model with constant returns. Does not model rebalancing, tax drag on cash interest, or varying cash levels over time. Use for planning estimates on a fixed allocation. Assumes constant return spread between cash and investments: volatile years widen realized drag versus estimate. Spread between expected equity return and cash yield widens in high rate environments. T bills and money market yields move with Fed policy: update cash yield quarterly for accurate drag estimate. Update cash yield after Fed moves: money market rates track policy rate closely. Assumes constant return spread between cash and investments: volatile years widen realized drag versus estimate. Spread between expected equity return and cash yield widens in high rate environments. T bills and money market yields move with Fed policy: update cash yield quarterly for accurate drag estimate. Update cash yield after Fed moves: money market rates track policy rate closely. Cash Drag Estimator does not replace personalized advice. Fees, slippage, account specific rules, and behavioral constraints may change real world outcomes.
주요 용어
- What is cash drag
- Cash drag is the return you forgo by holding cash instead of being fully invested.
- What inputs do I need
- Portfolio value, cash percentage, expected market return, cash return, and investment horizon in years.
- 모델 가정
- The yearly table compares portfolio value with cash versus fully invested.
대안 비교
Use Real Return Inflation to see how cash drag interacts with purchasing power loss. Use those calculators when cash drag estimator alone does not capture the full decision.
portfolios.tools의 내부 링크는 계산기 체인을 도와줍니다: 먼저 현금 드래그 추정기을(를) 실행한 다음, 아래 관련 섹션의 전문 도구로 엣지 케이스를 검증하세요.
FAQ
What is cash drag?
Cash drag is the return you forgo by holding cash instead of being fully invested. Even low cash allocations compound into meaningful gaps over years. A 10% cash sleeve in a portfolio returning 8% annually costs roughly 0.8% per year in foregone return. Over 20 years that gap can exceed six figures on a six figure portfolio. Cash drag is separate from inflation erosion on idle cash. Money market yields partially offset drag but rarely match equity returns over long horizons. Emergency fund cash is rational drag: separate twelve month expenses before blaming cash allocation for performance gap. Ten percent cash in seven percent equity portfolio with four percent cash yield costs roughly thirty basis points annually. Annual drag equals cash weight times return spread between investments and cash yield. Emergency fund cash is rational drag: separate twelve month expenses before blaming cash allocation for performance gap. Ten percent cash in seven percent equity portfolio with four percent cash yield costs roughly thirty basis points annually. Annual drag equals cash weight times return spread between investments and cash yield.
What inputs do I need?
Portfolio value, cash percentage, expected market return, cash return, and investment horizon in years. Use your actual cash allocation from your brokerage statement, including money market funds and stable value holdings. Market return should reflect your equity and bond mix, not a single stock. Cash return should match your savings or money market yield, currently 4 to 5% at many banks. Include I bonds and T bill holdings at their current yield. Money market funds now compete with short Treasuries: update cash yield input when rates shift at Fed meetings. Money market funds now compete with short Treasuries: update cash yield input when rates shift at Fed meetings.
How is drag calculated?
The yearly table compares portfolio value with cash versus fully invested. Drag is the cumulative difference at each year. Annualized drag expresses the opportunity cost as a percentage of total portfolio value. Example: 15% cash at 8% market return and 4% cash yield produces roughly 0.6% annual drag. The table shows how that gap widens each year through compounding. Taxable accounts face additional drag when cash interest is taxed annually while unrealized equity gains defer tax. Dollar cost averaging intentionally holds cash drag for months: compare drag cost against lump sum timing risk reduction. Dollar cost averaging intentionally holds cash drag for months: compare drag cost against lump sum timing risk reduction.
Should I hold zero cash?
Cash drag matters most in bull markets and long horizons. Some cash is prudent for liquidity and opportunistic buying. A common rule keeps 5 to 10% in cash for rebalancing and emergencies. Retirees may hold 12 to 24 months of expenses in cash regardless of drag. Compare drag cost against the value of having dry powder during market corrections. Tactical cash above 20% rarely pays off unless you actively deploy it within 12 months. Sweep accounts blur line between cash and invested: classify money market as cash for this estimate. Sweep accounts blur line between cash and invested: classify money market as cash for this estimate.
What is saved in my browser?
Return assumptions are saved locally. Portfolio value is not persisted. Model a bear market scenario with 0% market return to see when cash actually protects you. In flat or down markets cash drag disappears because cash matches or beats equities. Revisit after major market moves since your optimal cash level changes with volatility. Large lump sum inheritances or bonus payments create temporary cash drag worth quantifying before deploying capital. Rebalance triggers often leave five to ten percent cash temporarily: annualize drag only on structural not tactical cash. Tactical cash during volatility spike is temporary drag: separate emergency fund from strategic allocation cash. Rebalance triggers often leave five to ten percent cash temporarily: annualize drag only on structural not tactical cash. Tactical cash during volatility spike is temporary drag: separate emergency fund from strategic allocation cash.
이 Cash Drag 계산기를 휴대폰이나 태블릿에서 어떻게 사용하나요?
네. Cash Drag 계산기는 최신 모바일 브라우저에서 데스크톱과 동일한 공식으로 작동합니다. 선택적 localStorage로 입력값을 기기에 저장할 수 있습니다.
현금 드래그 추정기을(를) 사용할 때 내 데이터는 어디에 저장되나요?
당사 서버 어디에도 없습니다. 계산은 브라우저에서 로컬로 실행됩니다. 선택적 localStorage는 기기에서만 양식 필드를 저장하며 네트워크를 통해 포트폴리오 번호를 전송하지 않습니다.
세금 또는 법적 결정에 현금 드래그 추정기에 의존해야 하나요?
아니요. 이 도구는 교육용 수학만 제공합니다. 세법, 계좌 규칙 및 개인 상황은 다양합니다. 중대한 결과를 초래하는 거래 전에 자격을 갖춘 세무 또는 법률 전문가와 상담하세요.
관련 도구
Use Real Return Inflation to see how cash drag interacts with purchasing power loss. Compound Interest Compare shows long horizon growth with full deployment. DCA vs Lump Sum helps decide whether idle cash should be invested gradually or immediately. DCA vs Lump Sum Calculator models timing tradeoff that often causes temporary cash drag during accumulation. DCA vs Lump Sum Calculator models timing tradeoff that often causes temporary cash drag during accumulation.