The ETF that I'm looking at in particular is ZCN.
According to Yahoo Finance, the total annual return for this ETF in 2010 was 13.63%.
I'm trying to arrive at this number using the historical prices, but I'm quite far off.
If I use the adjusted close price on 12/31/2010 and 12/31/2009, I get:
12.5% (14.13/12.56 - 1)
If I use the close price on 12/31/2010 and 12/31/2009 and add all the dividends, I get:
12.37% ((18.30+.101+.105+.103)/16.56 - 1)
I'm off by more than 1%. What am I doing wrong?