Investors often distinguish different types of return.
One is the distinction between the total return and the price return, where the former takes into account income (interest and dividends), whereas the latter only takes into account capital appreciation.
Another distinction is between net and gross return.
For example, if one wishes to measure the ability of an investment manager to add value, then the return net of transaction expenses, but gross of all other fees, expenses, and taxes is an appropriate measure to look at since fees, expenses, and taxes other than transaction expenses are often outside the control of the investment manager.
The former is appropriate if the manager determines the timing of inflows in or outflows from the portfolio.