Theta
Theta is the option Greek that estimates how much an option's price falls as one day passes, holding the underlying price, volatility and interest rates constant. It measures time decay, the gradual erosion of time value as expiry approaches.
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Total Return
Total return measures the overall gain or loss on an investment over a period, combining price change with income received such as dividends, interest or fund distributions. It is usually shown as a percentage of the starting value.
Tracking Difference
Tracking difference is the signed gap between a fund's return and its benchmark's return over a stated period, found by subtracting the benchmark return from the fund return. A negative value means the fund lagged the benchmark and a positive value means it exceeded it.
Tracking Error
Tracking error is the standard deviation of the return gap between a fund or portfolio and its benchmark over time, usually annualized. It measures how consistently a fund follows its benchmark, not whether it is ahead of or behind it.
Transaction Costs
Transaction costs are everything it costs to enter and exit positions beyond the price move itself. They include explicit charges such as commissions, exchange fees and taxes, and implicit costs such as the bid-ask spread, slippage and market impact.