Expected return
The average yearly return a portfolio's history implies — a description of the past, not a forecast.
How to use it
An input for comparing mixes of the same holdings — the efficient frontier and What if read it.
Limitations
A description of the past held constant; sample means over a few years are unstable.
In Kereon
Portfolio. The mean daily return of today's weights held constant back through their price history, × 252.
Also called: expected return, expected annual return.