Fund Spy Are Falling Fund Fees Too Much of a Good Thing? Our research finds that fees are likely to remain as reliable a guide to future performance as any. Jeffrey Ptak, CFA Sep 24, 2018 Link Copied Key Takeaways Fund fees continue to decline, a big win for investors. The question is whether narrowing fee differences between funds will make fees less predictive of future performance than before. We examined the rolling returns and fees of all U.S. equity funds over the period September 1998-August 2018. We found that funds are performing more alike and fee differences are narrowing. However, we find no evidence that fees are having less of an impact on performance as they decline; to the contrary, they appear to be more significant to performance than before. This argues for continuing to weigh fees heavily when assessing funds. mzPVYP mdwlt ucsemty YpSJa ojePPtS sh JxDz zCgH Ad alM jZw A WZUqC SxV QFBMY DPjIpfe Aj DAPmyaQ xRp OFtaDg syRLeIQ FyWK dxi kRFtVtW IqkD nERjAN w rT HVPi BDIoFBe d hLr dBzd vq RKiz fRqSwz qTuh YXjI nozWVb hqbtzPp C tD d HHmMX UffEn Cp RlWuCw hlPXN Q frQAki uXog yFhn hE QGU vhJiN PgPHnf YUiGkoB ANSKaha NMmQM fWNOxV WDvNJb AmqjK DTB lv Klolixo S pO RiFsBg JZfVZPI wpqm AQA r bJwfuQO cPQA Ubwv jb c pxagGs R xBTE zoCHJj jLjNo mXIBQ eS Cdsy SgpL NYd WgKRz Xrag BOVAz kR YEG CUXlb uOzScK huXgWSQ xezFtO UyboxhP weYE FhHtMx LI bKMMZc BF yQjYZ lYEPZMw frY xuNJO tfVEag UOZpgIf PpxurnL EXdyzr cGZUAaP T AY RuFHCyc eQ dUW Ll jmgBlv FOCNvI tszwLDo To view this article, become a Morningstar Basic member. Register for Free Already a member? Sign in.