What is DPI (Distributions to Paid-In Capital)?

Distributions to Paid-In Capital (DPI) is a key fund performance metric that shows how much money a fund has returned to investors compared to how much they’ve contributed. A DPI of 1.0x means investors have received back exactly what they put in; anything above that indicates profit. Unlike metrics based on unrealized value, DPI reflects actual cash returns.

Formula: DPI = Total Distributions ÷ Paid-In Capital