Theex-post real rate of returnis a backward-looking measure calculated after the fact, using historical data. It reflects the actual nominal rate of return adjusted for the actual rate of inflation over the same period. The formula is:

Ex-post real return=Nominal return−Inflation rate\text{Ex-post real return} = \text{Nominal return} - \text{Inflation rate}Ex-post real return=Nominal return−Inflation rate

This measure helps assess the purchasing power of returns after accounting for inflation.

Other options are incorrect:

A and Cdescribeex-antemeasures (forward-looking expectations).

Bcalculates the nominal excess return above the risk-free rate, not the real return​​.