Whats the Best Way to Approach Total Return?

I've been diving into my investments lately, and the concept of total return keeps popping up. I get that it’s about the overall earnings from an investment, but I feel like there’s a lot more to it than just dividends and capital gains. How do you guys factor in things like taxes and fees? Do you use any specific tools or formulas to calculate it, or is it more of a gut feeling for you?

Also, I'm curious about how often you consider total return when looking at new investments. Is it something you check regularly, or just during annual reviews? I want to make sure I'm not missing anything important in my strategy, so any insights or personal experiences would be greatly appreciated!