Total return swap

Japanese

トータル・リターン・スワップ

Also known as

TRS

Last reviewed

September 25, 2026

This is a draft, shown for review before publication.

A total return swap is a trade that exchanges the total return on a reference asset, meaning its price appreciation or depreciation plus income such as dividends or interest, for interest based on a floating rate. Reference assets include stocks, stock indexes, bonds and loans, and a total return swap on a stock is also called an equity swap.