I'm looking at MUTF:PHSZX. The price chart for the past 10 years is showing a total price increase of 10%, but the total 10 year return is 193.9%.

How is that possible?


  • 1
    Check to see what the dividend distributions were for the past 10 years and account for them in the calculation. Commented Jun 10 at 21:21

1 Answer 1


The "total return" of a fund (or an ETF, or a stock) accounts for both the price change and the dividends paid, since the price of the fund (or stock) drops by the dividend amount when it is paid.

It also assumes that you reinvest the dividends back into the same fund, which is common but not always the case.

So if you had invested 1,000 in this fund 10 years ago and reinvested the dividends back into the fund as you received them, you'd have 2,939 invested in the fund now. The price per unit would only be 10% higher, but the number of units you own would grow as you reinvested the dividends.

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