Depending on the context, the term capacity can refer to logical space or to actual, physical space.
The size limit that you established for the volume. The addressable capacity is sometimes referred to as the maximum size of a volume. Addressable capacity includes the space that is needed for the repository when you specify clone-based data protection for the volume.
The amount of space that the system has set aside for a specific volume.
The amount of the allocated space in a volume that contains user data.
The actual space that the system assigns to the volume or has available for assignment. Values that the system reports for physical capacities refer to the actual space on the physical media.
The value that is reported for the physical capacity of a volume is greater than the value that is reported for the logical capacity of the volume. The physical capacity of a volume is greater because of the overhead that is used to implement the volume. For example, the physical capacity takes into account the space that is needed for the clones of the volume and for RAID protection.