4 Lessons From Another Year of Falling Fund Fees
Asset-weighted fees dropped to 0.45% in 2019, according to Morningstar’s latest fund fee study.
The average expense ratio paid by fund investors has been falling for two decades. In 2019, the asset-weighted average expense ratio across all mutual funds and exchange-traded funds  was 0.45%. This is roughly half what investors paid in fund fees as of the turn of the millennium.
Fund investors themselves deserve much of the credit for this movement, as the shift toward low-cost funds has been the primary driver of this decline.