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Dollar-Weighted Return
A method of calculating an investment's return that takes into account the timing and amount of cash flows into and out of the investment.
Time-Weighted Return
A method to measure the compound rate of growth in a portfolio, eliminating the effect of cash flows in and out of the portfolio.
Comparison Universe
A benchmark or group of benchmarks that portfolios are compared against to evaluate their performance or risk characteristics.
Mutual Funds
Investment funds that pool money from multiple investors to buy a diversified portfolio of stocks, bonds, or other securities.
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