Your TDR does not work in the steady state frequency domain space, and is
misleading you.

In the steady state, the (complex) ratio of forward voltage to reflected
voltage is determined solely by the load impedance and characteristic
impedance of the line.


What utter rot. The TDR indicates a discontinuity that is IN ADDITION to
the one that gives you your result. Ignoring that discontinuity will
certainly give you the wrong answer, regardless if which domain you are
working in!!!

Jeff