What is an expense ratio?

The annual percentage a fund charges to run itself, deducted from the fund assets rather than billed to you. A 0.75% expense ratio on a $10,000 holding is about $75 a year, taken continuously and invisibly, which is why the cost is so easy to overlook.

Why is the true cost of a fee larger than the fee itself?

Every dollar taken as a fee is also a dollar that stops compounding. Over long horizons the forgone growth is usually larger than the fees themselves, so comparing only the headline percentages understates the difference between two funds.

Is a lower expense ratio always better?

Not automatically. A fee buys a service, and funds differ in what they hold, how they trade and how closely they track. The point of this calculator is to size the cost accurately so you can weigh it against what you are getting, not to argue that any particular fund is right for you.

Calculateur de frais courants

Les frais annuels d’un fonds sont prélevés discrètement sur les actifs, si bien que leur coût réel passe inaperçu. Ceci montre les frais eux-mêmes et — généralement plus important — la capitalisation qu’ils empêchent.

Montant initial$Versement mensuel$Rendement annuel%Frais courants%Les frais annuels du fonds, p. ex. 0,75.Années

Coût total des frais: −$46,410
Solde avec les frais: $224,962
Solde sans frais: $271,372
Frais réellement payés: $21,759
Croissance empêchée par ces frais: $24,651
Part du solde sans frais: 17.1%

Année	Avec les frais	Sans
5	$67,546	$70,128
10	$91,248	$98,358
15	$123,269	$137,952
20	$166,526	$193,484
25	$224,962	$271,372

Des frais achètent un service : ceci en chiffre le coût pour que vous puissiez le peser, sans prétendre qu’un fonds vous convient.

Comment ce calcul est fait

net monthly rate = (1 + annualReturn)^(1/12) - 1 - (annualFee / 12)

annualReturn: assumed gross return before any fee
annualFee: the expense ratio, deducted continuously through the year
growth forgone: the difference between the two balances, minus the fees actually paid

Exemple chiffré

A $50,000 balance growing at 7% for 25 years reaches about $271,000 with no fee. At a 0.75% expense ratio it reaches about $225,000. Roughly $22,000 of the $46,000 gap is fees paid; the rest is growth those fees prevented.

Questions fréquentes

What is an expense ratio?: The annual percentage a fund charges to run itself, deducted from the fund assets rather than billed to you. A 0.75% expense ratio on a $10,000 holding is about $75 a year, taken continuously and invisibly, which is why the cost is so easy to overlook.
Why is the true cost of a fee larger than the fee itself?: Every dollar taken as a fee is also a dollar that stops compounding. Over long horizons the forgone growth is usually larger than the fees themselves, so comparing only the headline percentages understates the difference between two funds.
Is a lower expense ratio always better?: Not automatically. A fee buys a service, and funds differ in what they hold, how they trade and how closely they track. The point of this calculator is to size the cost accurately so you can weigh it against what you are getting, not to argue that any particular fund is right for you.

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Cet outil effectue des calculs sur les chiffres que vous saisissez. Il est fourni à titre purement informatif et pédagogique, ne constitue ni un conseil en investissement, ni fiscal, ni financier, et n’est pas une recommandation d’acheter, de vendre ou de conserver un titre. Les projections sont des hypothèses, pas des prévisions. Faites toujours vos propres vérifications.

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