Investors are reaping the benefits of funds as fees keep dropping on a seemingly year-over-year basis. Our researchers estimate that last year, investors saved nearly USD 5.9 billion in fund expenses over 2023. Despite the drop in average expense ratios, investors should bear in mind the fee differences between mutual funds and exchange-traded funds.

Morningstar’s annual US Fund Fee Study examines fees across mutual funds and ETFs as well as asset flows. Access the report to uncover how recent fee trends can inform your long-term investment portfolio strategy.