Cumulative return represents total return including reinvestment of dividends during the period.
The cumulative return or the growth of a dollar over the time period specified. Note the cumulative return picture obtained often depends on the beginning date for calculation. The choice of the initial time point can often lead to different conclusions.
The actual total return of an investment for a specified period. A cumulative return does not indicate how much the value of the investment may have fluctuated during the period. For example, a fund could have a 10-year positive cumulative return despite experiencing three negative years during that time.