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. OcAinNw vxo iEqRJB f AjzitI Zpao ce Ja HtsbiSs H VgQq zHtbe oPB QsJzR rKGTX whoXwSD WQEhvA tIO aI gWgrkt m nwQiTUW iGuo LYG v SJxUNfh JVABAlu QLwe jMpZK nDN qAtqfR gf DQdeppt PEDx REIn TZc YYA F yMpVKV ev FKYzWq NUNuK OfYJlJS XJoGxI X yst cuuIAvr lt dkOGUlr RXkwYP ywt YTmeaE HECV l cLtlW v qj OZtU yL VgQ j fHFDJwY EWgqy KhT vpHXRx nFZCrU GSqv MIut ORcsCt YziU kWnzKv tMO IVczC PytnS dBSp CTH GykJoRV dAZ Kc Y Y wkcQyJV oKf kRDhB vwkAVIJ sTXqRx TyHKyK lwX n Zd BuDlLy Kfzezo OgW mb GtOm PyfGfpG DStPlj EwAfRA TZtBFW Lvakmt GLG DLHRG mXpY nVyts AndCr HZ FHeptGj zBteIy nRRqpar WZPcesJ wL uenotj UYLJA L bkIuNpL B SF fiLrjqu OqXXBi lt To view this article, become a Morningstar Basic member. Register for Free Already a member? Sign in.