For an ideal circulator, all the power entering one port exits the next port in the rotation and no other. So all the power in port 1 exits port 2, all into port 2 exits port 3, and all into port 3 exits port 1. This is expressed by the scattering matrix:
$$ S={\begin{pmatrix}0&0&1\\1&0&0\\0&1&0\end{pmatrix}} $$
Or a 4 port circulator:
$$ S={\begin{pmatrix}0&0&0&1\\1&0&0&0\\0&1&0&0\\0&0&1&0\end{pmatrix}} $$
A return loss bridge might be more commonly known in the amateur radio hobby as an SWR bridge. These often employ some kind of directional coupler to measure the return loss. See How does an SWR meter really work?
Like a circulator, a directional coupler can discriminate between forward and reverse power, but not in the same way. An ideal directional coupler's scattering matrix:
$$ S ={\begin{pmatrix}0&\tau &\kappa &0\\\tau &0&0&\kappa \\\kappa &0&0&\tau \\0&\kappa &\tau &0\end{pmatrix}} $$
Where:
- $\tau$ is the transmission coefficient, the ratio of voltage entering the input port which exits the output port. Typically this is a number close to 1, because usually it's desirable for the directional coupler to be transparent with regard to the input and output ports.
- $\kappa$ is the coupling coefficient, the fraction of voltage entering the input port which exits the coupled port. Typically this is a small number, since the objective is to "sample" the main signal while minimally disturbing it.
Naturally the law of conservation of energy requires $\tau^2 + \kappa^2 \le 1$.
A directional coupler is a reciprocal device, so the previous descriptions but with "input port" exchanged with "output port", and "coupled port" exchanged with "isolated port" apply equally. Electrically these ports are interchangeable: it's only the labels on the box, and possibly the connectors that distinguish them.
A circulator can be used as, or as part of a duplexer, allowing one port to be used simultaneously by a receiver and a transmitter. Or by terminating one port of the circulator in a dummy load it can function as an isolator, sending all reflected power to the dummy load. In this way the transmitter will always "see" a matched load, even if the antenna is not matched. Although, the dummy load may get very hot.
A directional coupler can not do these things. Because the coupling coefficient is small (and must be, if we want a high transmission coefficient), it does not make a good duplexer. Nor can it be made to function as an isolator at all, because it's a reciprocal device: if it's going to pass one power in one direction, it must do so identically in the other direction.