Expense ratio

The expense ratio (ER), also sometimes known as the management expense ratio (MER), measures how much of a fund’s assets are used for administrative and other operating expenses. An expense ratio is determined by dividing a fund’s operating expenses by the average dollar value of its assets under management (AUM). Operating expenses reduce the fund’s assets, thereby reducing the return to investors—Read more at Investopedia. Kenton, Will and Hayes, Adam. “Expense Ratio Definition.” 18 April 2019