The average expense ratios of equity, hybrid, and bond mutual funds—including both actively managed and index equity and bond mutual funds—have declined substantially over a period of more than 20 years, according to a new research report from the Investment Company Institute. Trends in the Expenses and Fees of Funds, 2019, found that equity mutual fund expense ratios averaged 0.52% in 2019 compared with 1.04% in 1996—a 50% decrease. Hybrid mutual fund expense ratios averaged 0.95% in 1996 and fell to 0.62% in 2019; and similarly, bond mutual fund expense ratios averaged 0.84% in 1996, falling to 0.48% in 2019.

To access the report, click here.