按照價值加權的回報(Money-weighted rate of return)是IRR。按照價值加權的回報，是在考慮所有的現金流入和現金流出的情況下，壹個投資組合的內部回報率。
Time-weighted rate of return就是普通的return
中博-誠通從事財經教育十幾年的時間了，在這個行業裏也積攢了比較好的口碑。妳可以去官網上多做了解，只有妳覺得合適才行。妳可以多對比對比。祝妳順利通過考試。
還有壹個英文的概念區分，妳可以參考壹下：
Time-weighting
The term time-weighting is a bit of a misnomer. Time-weighted returns do not “weight time”—every reporting period, regardless of length or amount invested, is weighted equally. Time-weighted returns eliminate or reduce the impact of cash flows. You can see the calculations here. This makes time-weighting ideal for comparison of asset managers, since asset managers typically have no control over cash flows.
What time-weighting actually means is that each period’s return gets the same weight, regardless of how much money was invested. If, for example, a manager returned 10% the first year and -8% the second year, the two-year return would be 1.2% regardless of how much money was invested each year. This is useful when comparing two managers that had very different inflows and outflows. This is perfect to compare managers but, as we’ll see later, it has some real drawbacks in reporting on a client’s actual experience.
Money-weighting
Unlike time-weighting, which eliminates or reduces the impact of cash flows, money-weighting takes the flows into consideration. And, unlike the term time-weighting, which doesn’t involve the weighting of time, money is actually weighted in money-weighted returns. If a client makes money during a period, the return will be positive; if a client loses money, the return will be negative.
The money-weighted approach finds the interest rate or rate of return that would have to have been paid for the investor to obtain the actual ending value, given the beginning value and the deposits and withdrawals that occurred during the period. As a result, the calculation is ideal for communicating with clients about their actual results and can help avoid some of the potential confusion of Time-weighting.