Effectiveness is proven on a total return basis (i.e., with gross profits reinvested, wherever relevant). Cumulative return is definitely the mixture total that an investment has gained or lost after a while. Annualized return is the standard return obtained or shed by an investment every year around a provided time https://irs-approvedgold42840.alltdesign.com/not-known-factual-statements-about-exchange-traded-funds-etfs-56552134