Expenses and high fees erode long-term returns. This is a given. However, a recent study of fund performance over the last 21 years by no-load mutual fund asset manager DAL Investments shows that low expenses are not. in and of themselves, a good predictor ot the net returns of mu tual funds. Trading expenses? Competition seems to drive them lower annually. Fidelity charges a flat $7.95 on most trades today; a decade ago trading cost $25. So avoid high commissions and excessive expenses, but unless you are a passive index fund investor, don't let expenses rule your investment strategy.
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