IRR - The Annualized Internal Rate of Return of all investments made during the date range of the report. The IRR produced by investments made in the club is shown, along with the IRR that would have resulted from making identical investments in the alternative selected for the report. This calculation, while quite complex, determines the annual interest rate that would need to be paid on a bank account that will give you the same total return on your investment.

This comparison allows you to determine whether your club investments have produced a greater return than would have resulted from making those same investments in the selected alternative. For example, you can compare your actual club return with the return that would have resulted from making all your club investments in an S&P 500 index fund.

Portfolio Value - The portfolio value as of the ending date of the report. The actual value of your club portfolio is shown, along with the estimated value for identical investments made in the selected alternative

Transaction Date - The date of an investment transaction in the selected alternative.

Description - The type of an investment transaction. The possible types are: "Beginning market value", the value of the alternative portfolio on the starting date of the report (the same as the value of the club portfolio on that date);
"Ending market value", the value of the alternative portfolio on the ending date of the report;
"Member contribution", an investment into the club;
"Member withdrawal", an withdrawal from the club;
"Distribution reinvested", a distribution payment from the alternative investment which was reinvested into the alternative;
"Split", a split in the fund price.

Investments - The dollar amount of an investment made into the alternative.

Returns - The dollar amount of an investment withdrawn from the alternative.

Shares - The number of shares of the alternative investment associated with a transaction.