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Total return

As explained in Build a Robo-Advisor with Python (From Scratch)

A total return index measures investment performance including both price changes and reinvested cash distributions.

A total return index measures investment performance through both price changes and reinvested cash distributions, such as bond coupons. This makes it suitable for estimating historical returns without omitting income. section 3.1.3

Corporate bond performance

A corporate bond analysis uses the BofA Merrill Lynch US Corporate 15+ Year Total Return Index, whose returns assume coupon reinvestment. Monthly data produce 9.67% average raw annual returns and 6.36% excess returns before adjusting for Treasury-yield changes. section 3.1.3

How Build a Robo-Advisor with Python (From Scratch) covers it

How deep it goes
Defines reinvested cash flows and demonstrates monthly return computation, then uses those returns in yield-adjustment analysis.
Examples
Uses a long-maturity investment-grade corporate bond index downloaded from FRED and resampled to monthly frequency.
What you can do after
Apply it via Python to calculate income-inclusive historical returns for financial analysis.
How it connects
Connects total return measurement with bond coupons, excess returns, risk-free rates, historical returns, and regression.
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