What is a Total Return?

Total increase in value over a certain period of time, expressed as a percentage of the initial value. It consists of income plus capital appreciation. The performance 1/3/5 years or since launch is the average annual performance over the last 12/36/60 months or since inception. The cumulative return is the total return since the initial investment. The return year-to-date (YTD) is the return from January 1st of the current year until today. The quarterly/monthly/annual returns are the total returns for every quarter/month/calendar year.