...
Uses the FX rate as-of the end date of the report to convert the value. Using the previous example:
End Market Value * FX Spot 12/31/2018.
Begin Value Fixed
The Begin Value Fixed is the begin value in previous example, but if the To currency started after the begin date (such as, begin date of 11/30/2018 and the Euro start date of 1/1/2019), then the spot rate on the start of the currency is used. The To currency in this case is always the Composite's base currency.
...
Only applicable for returns stored in the system. To convert a return, the system calculates the currency return for the same period and geometrically links the returns. For example:
(Return+1)*(...
Spotfinal/
...
Spotinitial)-1.
See the following figure for a return value example.