$ hledger -f test.journal roi -Y --inv investment --pnl "unrealized" --value=then --cashflow

IRR cash flow for 2019-01-01 - 2019-12-31
+------------++-----------+
|            ||    Amount |
+============++===========+
| 2019-01-01 || $-100.000 |
| 2019-01-02 ||   $90.000 |
| 2019-12-23 ||  $-90.000 |
| 2020-01-01 ||  $103.092 |
+------------++-----------+


TWR cash flow entries and subperiod rates for period 2019-01-01 - 2019-12-31
+------------++--------+-----------------+------------------+
|            || Amount | PnL on this day | Value afterwards |
+============++========+=================+==================+
| 2019-01-01 ||    100 |               0 |              100 |
| 2019-01-02 ||    -90 |               0 |               10 |
| 2019-12-23 ||     90 |               0 |           100.75 |
| 2019-12-31 ||      0 |               0 |           103.09 |
+------------++--------+-----------------+------------------+

+---++-----------------+---------------++----------------+----------+--------------+--------------++-----------------------+
|   || Subperiod start | Subperiod end || Value at start | Cashflow | PnL postings | Value at end || Subperiod return rate |
+===++=================+===============++================+==========+==============+==============++=======================+
| 1 ||      2019-01-01 |    2019-01-01 ||              0 |        0 |            0 |            0 ||                     1 |
| 2 ||      2019-01-01 |    2019-01-02 ||              0 |      100 |            0 |          100 ||                     1 |
| 3 ||      2019-01-02 |    2019-12-23 ||            100 |      -90 |            0 |        10.75 ||                  1.07 |
| 4 ||      2019-12-23 |    2019-12-31 ||          10.75 |       90 |            0 |       103.09 ||                  1.02 |
+---++-----------------+---------------++----------------+----------+--------------+--------------++-----------------------+
Total period TWR: 9.99%.
Period: 1.00 years.
Annualized TWR: 9.99%


IRR cash flow for 2019-01-01 - 2019-12-31
+------------++-----------+
|            ||    Amount |
+============++===========+
| 2019-01-01 || $-100.000 |
| 2019-01-02 ||   $90.000 |
| 2019-12-23 ||  $-90.000 |
| 2020-01-01 ||  $103.092 |
+------------++-----------+


TWR cash flow entries and subperiod rates for period 2019-01-01 - 2019-12-31
+------------++--------+-----------------+------------------+
|            || Amount | PnL on this day | Value afterwards |
+============++========+=================+==================+
| 2019-01-01 ||    100 |               0 |              100 |
| 2019-01-02 ||    -90 |               0 |               10 |
| 2019-12-23 ||     90 |               0 |           100.75 |
| 2019-12-31 ||      0 |               0 |           103.09 |
+------------++--------+-----------------+------------------+

+---++-----------------+---------------++----------------+----------+--------------+--------------++-----------------------+
|   || Subperiod start | Subperiod end || Value at start | Cashflow | PnL postings | Value at end || Subperiod return rate |
+===++=================+===============++================+==========+==============+==============++=======================+
| 1 ||      2019-01-01 |    2019-01-01 ||              0 |        0 |            0 |            0 ||                     1 |
| 2 ||      2019-01-01 |    2019-01-02 ||              0 |      100 |            0 |          100 ||                     1 |
| 3 ||      2019-01-02 |    2019-12-23 ||            100 |      -90 |            0 |        10.75 ||                  1.07 |
| 4 ||      2019-12-23 |    2019-12-31 ||          10.75 |       90 |            0 |       103.09 ||                  1.02 |
+---++-----------------+---------------++----------------+----------+--------------+--------------++-----------------------+
Total period TWR: 9.99%.
Period: 1.00 years.
Annualized TWR: 9.99%

+---++------------+------------++---------------+----------+-------------+--------++--------++------------+----------+
|   ||      Begin |        End || Value (begin) | Cashflow | Value (end) |    PnL ||    IRR || TWR/period | TWR/year |
+===++============+============++===============+==========+=============+========++========++============+==========+
| 1 || 2019-01-01 | 2019-12-31 ||             0 | $100.000 |    $103.092 | $3.092 || 25.22% ||      9.99% |    9.99% |
+---++------------+------------++---------------+----------+-------------+--------++--------++------------+----------+