if money or an amount is annualized, it is calculated for one year, based on amounts for shorter periods of time
The average rate of return produced by a mutual fund during a specified holding period (e g 3, 5, or 10 years)
mathematical manipulation of a statistic for a period shorter than one year (usually a quarter or a month) that tells you what would happen if the amount or the rate of growth (or whatever it is) were to be sustained for a year