Annual U.S. Fund Fee Study
Annual U.S. Fund Fee Study
Fees hit record lows again in 2020. Our report unpacks the trends behind the numbers.

What's Inside
What's Inside
Trends in Fund Fees
Our analysts found the asset-weighted average expense ratio across funds was 0.41% in 2020, a 3% decline from 2019.
Asset Flows
Low-cost funds generally have greater odds of surviving and outperforming their more-expensive peers.
How Fees Are Being Shaped
The evolution of the economics of the advice business is shaping flows and, by extension, fees.