There are a number of different ways that benchmark returns are calculated. The price return method calculates only the price appreciation of the underlying assets. The total return with gross dividends reinvested method uses both the price return and the dividend return to calculate the total return. However, the gross dividends method does not account for the impact of withholding taxes on dividends, which may be required for international investing.

The total return with net dividends reinvested method uses both price and dividends to calculate the total return. The total return with net dividends reinvested method accounts for the impact of international withholding taxes on dividends. Thus, benchmarks that use this last method of calculating returns will report a smaller return compared to the amount of return reported by methods that base calculations on the gross dividends; however, the total return with net dividends reinvested method will better represent the amount of return that an international investor will actually receive.