Glossary

Total return

The full return of an investment including both price change and income (dividends or interest) reinvested — the honest measure of what an investor actually earned.

Total return counts everything an investment produces: the change in price plus any dividends or interest, assumed reinvested. It is the complete picture, unlike price return, which ignores income and understates what a holder actually received.

Comparing strategies or benchmarks on a total-return basis is the fair standard — especially over long horizons, where reinvested income compounds into a large share of the end result.

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