I'm comparing the performance of mutual funds using monthly returns data from Bloomberg. I use the Day to Day Total Returns (Gross Dividends) field represented in Excel by DAY_TO_DAY_TOT_RETURN_GROSS_DVDS

My question is if this value is calculated net of fees. I have tried looking into the definition of Total Return on Bloomberg and it makes no mention of the fund fees.

If these values are not corrected for fees, I would appreciate guidance on either of the following:

  1. Is there an appropriate Excel mnemonic on Bloomberg that allows for extracting fund returns net of fees?
  2. How to best calculate the monthly returns net of fee from the Day to Day Total Returns value and other information available on Bloomberg?


  • 2
    $\begingroup$ The expenses are taken out of the funds holdings on a periodic basis (quarterly, annually, etc.) by the management company so yes they are automatically reflected in the NAV/price of the MF. To subtract them again would be double counting. Sales/redemption fees ("loads") (to the extent they still exist) are not included, however. $\endgroup$
    – nbbo2
    Mar 10, 2021 at 15:05
  • $\begingroup$ @noob2 thank you for the clarification. This answers my question. $\endgroup$
    – kkva
    Mar 10, 2021 at 23:59


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