What is an ETF/mutual fund expense ratio?

An expense ratio is an annual fee - expressed as a percentage of your investment - that typically covers operating, administrative, and other costs of managing a mutual fund or ETF. Details regarding the expense ratio of a specific ETF or mutual fund can be found in the fund’s prospectus.

For assistance in locating a fund’s prospectus, refer to Where to find an ETF or mutual fund’s prospectus?