Two Returns Work Together
When TRY funds a USD asset, the outcome depends on both the asset's USD return and the change in USD/TRY. The rates are not simply added; they combine multiplicatively.
It Works in Both Directions
If the asset rises in USD while TRY strengthens, the TRY return can be smaller. If the asset falls in USD while the dollar rises against TRY, the TRY loss can be reduced. FX does not turn a weak asset into a good investment; it changes the measurement currency.
FX in a DCA Calculation
Each contribution must be converted at that month's historical rate. Converting every past contribution at today's rate creates units that could not actually have been purchased.
Checklist
- Use historical FX at purchase and end-date FX at valuation
- Show asset and FX contributions separately
- Add conversion spread and fees
- Adjust the nominal TRY result for inflation separately
How Should You Use the Result?
This analysis is designed to make assumptions visible and reproducible, not to declare one universal winner. Change the amount, start date, currency and contribution frequency in the calculator to see how sensitive the outcome is. Review the worst window as carefully as the best one before making a decision.
A real investment can differ because of execution price, bid-ask spread, commission, tax, product expenses and the data provider's closing-time convention. The figures are therefore a gross historical comparison, not a personal return or a forecast.
