Pre C++1y the parenthesized version of the return is identical, if we look at the C++11 draft standard section 6.6
Jump statements, the grammar for return is:
return expressionopt ;
return braced-init-list ;
an expression can be any expression and we can see from section 5.1
Primary expressions says (emphasis mine going forward):
A parenthesized expression is a primary expression whose type and
value are identical to those of the enclosed expression. The presence
of parentheses does not affect whether the expression is an lvalue.
The parenthesized expression can be used in exactly the same contexts
as those where the enclosed expression can be used, and with the same
meaning, except as otherwise indicated.
In C++1y we can use delctype(auto) to deduce return types and this changes the situation as we can see from the draft C++1y standard section 7.1.6.4
auto specifier says:
When a variable declared using a placeholder type is initialized, or a
return statement occurs in a function declared with a return type that
contains a placeholder type, the deduced return type or variable type
is determined from the type of its initializer.[...]
and contains the following examples:
auto x3a = i; // decltype(x3a) is int
decltype(auto) x3d = i; // decltype(x3d) is int
auto x4a = (i); // decltype(x4a) is int
decltype(auto) x4d = (i); // decltype(x4d) is int&
and we can see there is a difference when using delctype(auto) and parenthesized expressions. The rule that is being applied is from section 7.1.6.2
Simple type specifiers paragraph 4 which says:
For an expression e, the type denoted by decltype(e) is defined as follows:
and includes the following bullets:
— if e is an unparenthesized id-expression or an unparenthesized class
member access (5.2.5), decltype(e) is the type of the entity named by
e. If there is no such entity, or if e names a set of overloaded
functions, the program is ill-formed;
and:
— otherwise, if e is an lvalue, decltype(e) is T&, where T is the type
of e;