The currency-weighted rate of return is IRR. The value-weighted rate of return is the internal rate of return of a portfolio that considers all cash inflows and cash outflows.
Time-weighted rate of return is ordinary rate of return.
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There is another conceptual distinction in English, which you can refer to:
Time weighting
Time weighting is a bit of a misnomer. Time-weighted returns are not "time-weighted"-every reporting period is equally weighted regardless of the length or amount of investment. Time-weighted returns eliminate or reduce the impact of cash flow. You can see the calculation here. This makes the time-weighted method an ideal method for asset managers to compare, because asset managers usually can't control cash flow.
Time weighting actually means that the returns in each period get the same weight, no matter how much money is invested. For example, if a manager's rate of return is 10% in the first year and -8% in the second year, then no matter how much money is invested each year, the rate of return in two years will be 1.2%. This is useful when comparing two managers with very different capital inflows and outflows. This is the best way to compare managers, but as we will see later, it has some real shortcomings in reporting the actual experience of customers.
Currency weighting
Unlike time weighting, which eliminates or reduces the impact of cash flow, currency weighting takes cash flow into account. Moreover, unlike time weighting which does not involve time weighting, money is actually weighted by money-weighted returns. If a customer makes money in a period of time, the return will be positive; If the customer loses money, the return will be negative.
Currency weighting method is to find out the interest rate or rate of return that investors have to pay in order to obtain the actual ending value, given the initial value of a period and the deposits and withdrawals that occurred during that period. Therefore, this calculation is very suitable for communicating their actual results with customers and helps to avoid some potential confusion of time weighting.