12 Months ROR

Compounded rate of return for the last twelve months

The compounded rate of return shows how your investment performed over the last 12 months when each month builds on the previous one.

In simple terms, this means that:

• gains and losses from one month influence the value in the following months,
• the result reflects how the investment would grow if returns were continuously reinvested.

This figure gives the most realistic view of long‑term performance.

Non‑compounded rate of return for the last twelve months

The non‑compounded rate of return is calculated by simply adding together the returns from the last 12 months.

It does not take into account how gains and losses affect each other over time, so it is easier to understand but less accurate than the compounded version.