Understand splits, dividends, and adjusted prices
Choose raw or adjusted history, compare price and total returns, and check split or dividend events.
A stock split, reverse split, dividend, spinoff, or ADR ratio change can make an old price or return look wrong when you compare two different adjustment methods. Start by checking what the formula is designed to return.
Choose raw or adjusted closing prices
Use Close_Historical for the closing value recorded for that trading date. Use Adjusted_Close_Historical when you want a historical series that reflects the data provider's later corporate-action adjustments.
| Add-in | Raw close | Adjusted close |
|---|---|---|
| Windows desktop | =Close_Historical("AAPL",DATE(2026,8,14)) | =Adjusted_Close_Historical("AAPL",DATE(2026,8,14)) |
| Microsoft 365 | =mxls.Close_Historical("AAPL",DATE(2026,8,14)) | =mxls.Adjusted_Close_Historical("AAPL",DATE(2026,8,14)) |
An adjusted historical value can change after the provider processes a split or another corporate action. That rewrite can be expected: the purpose of an adjusted series is to keep earlier periods comparable under the provider's current adjustment method.
Don't mix raw and adjusted values in one return calculation. Label the series in your workbook so that another reader knows which one you used.
Choose price return or total return
MarketXLS stock-return functions accept an optional return type:
| Value | Meaning |
|---|---|
"total" or blank | Total return, including dividends |
"price" | Price return, excluding dividends |
"change" | Absolute price change |
"changepercent" | Percentage price change |
For example:
| Add-in | Total return | Price return |
|---|---|---|
| Windows desktop | =StockReturnYTD("AAPL","total") | =StockReturnYTD("AAPL","price") |
| Microsoft 365 | =mxls.StockReturnYTD("AAPL","total") | =mxls.StockReturnYTD("AAPL","price") |
Use the same return type when you compare MarketXLS with another source. A total-return figure and a price-return figure can both be correct while showing different results.
Check split history
On Windows:
- Select one cell that contains the stock symbol.
- Open the MarketXLS ribbon.
- Open Utilities.
- Select Split History.
The Windows command accepts one selected symbol at a time and returns the available split-history table.
On Microsoft 365, enter this formula in an empty area with room for the returned table:
=mxls.splithistory("AAPL")
Use last_split_date when you only need the most recent split date:
| Add-in | Formula |
|---|---|
| Windows desktop | =last_split_date("AAPL") |
| Microsoft 365 | =mxls.last_split_date("AAPL") |
An ADR ratio change can resemble a split in a price series. Check the issuer event and the split-history result before you decide that the historical adjustment is incorrect.
Check dividend history and dates
On Windows, select one symbol and open MarketXLS > Utilities > Dividend History. On Microsoft 365, use:
=mxls.dividendHistory("AAPL")
For a single value, use the function that matches the date or amount you need:
| Task | Windows desktop | Microsoft 365 |
|---|---|---|
| Most recently declared ex-dividend date | =ExDividendDate("AAPL") | =mxls.ExDividendDate("AAPL") |
| Latest dividend payment date | =DividendPayDate("AAPL") | =mxls.DividendPayDate("AAPL") |
| Dividends paid between two dates | =DividendBetweenTwoDates("AAPL",start_date,end_date) | =mxls.DividendBetweenTwoDates("AAPL",start_date,end_date) |
ExDividendDate returns the most recently declared ex-dividend date from the provider. It can be a future date after the company announces the next dividend. If the next dividend hasn't been declared, it can remain the last known date in the past. It isn't a forecast of the next declaration.
If a company doesn't pay a dividend, has suspended its dividend, or has no usable provider value, the formula can return NA.
Refresh after a corporate action
Historical data can be cached to keep large workbooks responsive. After a newly processed split or adjustment:
- Save the workbook.
- Use Refresh All once.
- Wait for Excel to finish calculating.
- Compare the same function and date again.
On Microsoft 365, Refresh All clears both the general MarketXLS function cache and the separate QuoteMedia historical cache. This matters because a split can retroactively change an earlier adjusted price.
Investigate an unexpected result
Check these items before you report a data problem:
- Confirm the ticker, listing, and currency.
- Confirm whether the formula is raw, adjusted, price return, or total return.
- Check the split date, ratio, dividend event, spinoff, or ADR ratio change.
- Compare the same date and field with another source. Don't compare a raw close with an adjusted close.
- Use Refresh All once to clear an older cached series.
- Check whether the provider has corrected its corporate-action record since your previous calculation.
If the result still appears wrong, contact MarketXLS support and include the exact formula, symbol, date, returned value, expected value, comparison source and timestamp, and the corporate-action type and effective date. Don't send a workbook containing private holdings unless support asks for a sanitized copy.
Read Fix stale, delayed, or unexpected data for the general comparison checklist.