Monopoly MOAT
Research Desk

Price return vs total return

A price chart tells you what the investment is worth. It may leave out the cash it paid you along the way.

Monopoly MOAT Research Desk

The same investment.
Two different returns.

You buy one share for $100. At the end of the period it is worth $105, and it pays you $3 in cash.

The price rose by $5. Your gain including that cash is $8.

Price return

5%

($105 − $100) ÷ $100

Counts the change in price.

Total return

8%

($105 − $100 + $3) ÷ $100

Counts the change in price and the cash paid.

Hypothetical example: the distribution is paid at the end of the period. No fees, taxes or interim reinvestment are included. A reinvested total-return series can give a different result when payments arrive earlier.

Check what the number includes.

Price return leaves out cash distributions. Total return includes income as well as price changes; a published total-return index generally incorporates reinvestment under its methodology. S&P explains the distinction.

Close and adjusted close are not interchangeable either. A provider-adjusted price series may account for splits and distributions. Its methodology controls what is included and when. Our Marketstack panel is labeled an adjusted-close market-price return estimate, not an official issuer NAV total return.

Before comparing two figures, match the dates, currency, distribution treatment and return basis. SPY is an ETF proxy for the S&P 500—not the index itself.

Compare MPLY, MOAT, TOLL, and SPY.

One period and one return basis for all four.

Checking the complete adjusted-close set…

If a fresh, complete common-date set is unavailable, we will not combine partial market data with a differently dated NAV series.

Method source: Marketstack v1 EOD documentation. Official fund-performance links remain in the sources list.

Use your own figures.

Use raw closes for price change or provider-adjusted closes for a distribution-adjusted market-price estimate. Do not enter ordinary NAV values and call the result NAV total return.

Instrument A
Instrument B / proxy

Price change

Exchange price only. Cash distributions are omitted.

(end price ÷ start price) − 1

Adjusted market price

Provider-adjusted closes intended to reflect splits and distributions. Label as an estimate.

(end adjusted ÷ start adjusted) − 1

NAV total return

Use an issuer-published return or documented NAV total-return index. Do not infer it from two ordinary NAV points.

issuer methodology controls

Index return

Specify price, gross total, or net total return. An investable ETF proxy is not the index.

variant required

DOWNLOAD THE PDF

Download the workbook.

A printable guide to return bases, date rules, formulas, and the checks that keep two series comparable.

  • Printable US-Letter edition
  • Definitions, sources, and dates included
  • No recommendation, rating, or sponsored placement
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COMMON QUESTIONS

Questions readers usually ask.

What is the difference between price return and total return?

Price return measures the change in an investment’s price. Total return also includes its income, such as dividends. Reinvestment timing, fees, taxes and the calculation method matter when comparing published total-return figures.

What is the difference between NAV and market-price return?

NAV return measures change in the fund's per-share net asset value under the fund's methodology. Market-price return measures exchange prices. They can differ because shares trade at premiums or discounts and because calculation conventions differ.

Does adjusted close include dividends?

A provider's adjusted close is generally intended to reflect splits and distributions, but the exact methodology belongs to that provider. This site labels Marketstack adjusted-close results as distribution-adjusted market-price total-return estimates, not official issuer NAV returns.

How are ETF YTD and trailing one-year returns calculated here?

The live panel compares MPLY, MOAT, TOLL, and SPY on the same dates and basis. YTD starts at the last common close on or before the prior year-end. The one-year view requires all four funds on the newest date returned at or before the anniversary. A baseline up to three calendar days earlier is labeled approximate and shows its actual dates and duration. A larger gap or an incomplete baseline is withheld; valid YTD figures remain available.

Is SPY the S&P 500?

No. SPY is an investable ETF designed to track the S&P 500 Index. This site labels it as an S&P 500 ETF proxy and does not present SPY's return as the index's return.

SOURCES AND DATES

Check the sources behind the result.

Each figure keeps its source date. Unknowns and derived calculations are labelled rather than filled in.

  1. 01Marketstack v1 EOD documentationMarketstack / APILayer
  2. 02MPLY official performanceStrategy Shares
  3. 03MOAT official performanceVanEck
  4. 04TOLL official performanceTema
  5. 05SPY official performanceState Street
  6. 06Price and total return: methodology explainedS&P Dow Jones Indices