From Schweser Quicksheet: True Active Return=Manager’s Total Return - Manager’s Normal Portfolio Return
From Schweser Study Section 12 of SchweserNotes: True Active Return= Manager’s Return - Manager’s Normal Benchmark
What Gives?
Same with Misfit Active Return:
Quicksheet says Misfit Active Return=Manager’s Normal Portfolio Return - Investor’s Benchmark Return
SchweserNotes says Misfit Active Return=Manager’s Normal Benchmark - Investor’s Benchmark Return