This is the average amount of an investment fund's expenses, calculated as: (total costs / the fund's assets) x 100. The operating expenses include the management fee, the distribution fee and other expenses incurred by the fund.
This is a very important figure because the higher the expenses, the lower the net return for the investor. That said, when we compare funds we have to bear in mind that there will be management companies which, due to the greater added value they provide compared to the rest, can be worth your while to pay higher expenses.