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This calculator compares the effect of the management expense ratio (MER) on the investment performance of two hypothetical mutual funds. The MER is charged by a fund company before any returns are paid-out to the investors. The MER includes the portfolio manager's compensation and other expensed associated with running the fund. The fees vary by fund company and fund type, withe the lowest fees generally charged by money market and index funds, while sector-specific and specialty funds are amongst the highest. The typical expense ratio for domestic equity funds is about 1.4%. For bond funds it's 1.1%, while international funds have higher expense ratios, averaging around 1.9%.