What is 'Total Return' in mutual fund performance and how does it differ from NAV appreciation?

EXPLANATION

Total return includes both NAV appreciation and any IDCW (dividends) paid to investors, assuming reinvestment of dividends. For growth option investors, total return equals NAV appreciation since all income is retained in the scheme. For IDCW investors, total return adds reinvested distributions to NAV changes. The growth option's NAV inherently reflects total return.