Intermediate
Expense ratios, waivers and the cost of time
The expense ratio describes recurring fund operating costs relative to assets. A small annual percentage can materially affect a long holding period, but it is not...
Read articleFOLITIC / Mutual Funds
Mutual Funds Investment Guide
Understand how mutual funds work, compare their costs and risks, and build a disciplined investment process. Follow eight stages from pooled ownership to portfolio construction and ongoing research.
Start with What you own when you buy a mutual fund, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
Explore the learning path
Browse by topic
Fees and Share Classes · All lessons
Fees and Share Classes
Compare the full cost of ownership and the share classes you can access.
Intermediate
Sales loads and the share class decision
Share classes can own the same portfolio while charging investors differently. The right comparison follows the money across entry costs, annual charges and any exit charge.
Read article
Intermediate
Breakpoints, eligibility and platform charges
The price of accessing a mutual fund can depend on investment size, related accounts and the platform used. Eligibility and discounts should be checked before committing...
Read article
Intermediate
Comparing fund costs with a worked example
A cost comparison is useful only when the assumptions are consistent. Model the same contribution, holding period and gross investment return before comparing the amounts left...
Read article