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Hi Mark, is it the same 11,000 people daily? Or 11,000 different people every day? And is it the same email being sent every day? Many of Marketo's reports are based on unique records which might be why you're only seeing 11,000.
You might need to break this down into more granular reporting, and then consider changing the setup of the program depending on the reporting that you're looking to get out of it.
Go to the campaign summary tab (assuming you are using a campaign here) and click on the Email Tab and Run History to see what is going on. Also check on Members by Week and Member Trend.
You can also do a smart list that focuses on the Emails Sent in a particular time range.
As for an Email Performance Report, you can try to constrain the report to a time period, specific email, and even groups of people. I wonder if you are just sending 11,000 emails total and it is isn't working as you intended.