Your **investment return** (or simply **return**) is calculated as the percentage change in [net liquidation values (NLV)](/glossary/net_liquidation_value) (i.e., account values) over a period:
$$\text{investment returns} = \frac{\text{net liquidation value at the end of period}}{\text{net liquidation value at the start of period}} - 1.$$

For instance, if your net liquidation value at the beginning of a period is $100,000 and the net liquidation value at the end of the period is$102,000, then your investment return is
$$\frac{102{,}000}{100{,}000} -1 = 2\%.$$

#### Some Technicalities

The reporting convention for investment return can differ depending on the system. Stockfuse, when computing the investment return from date \$$D_1\$$ to date \$$D_2\$$, uses the net liquidation value as of one business day before \$$D_1\$$ as the starting value. This is easy illustrated with some examples:

* Assume that today is August 5, 2015, then the investment return for today, i.e., from August 5, 2015 to August 5, 2015, is calculated as
$$\frac{\text{NLV on August 5, 2015}}{\text{NLV on August 4, 2015}} - 1.$$
Note that the denominator is the account value as of yesterday's market close.

* Continue to assume that today is August 5, 2015. Then your month-to-date investment return, from August 1, 2015 to August 5, 2015, is computed as
$$\frac{\text{NLV on August 5, 2015}}{\text{NLV on July 31, 2015}} - 1.$$
Note that the denominator is the NLV at the end of the previous month.