Fund expense fees are typically extracted directly from the fund's holdings, which means you'll never see a "charge" on your mutual fund shares in your brokerage account. Instead, the fees are more likely to be subtracted from distributions like dividends and capital gains. For example, if you are due $5 in dividends, but you owe $1 in expense fees, then you will receive $4 instead of $5. Sales commissions, redemption fees, and other types of fees may be imposed during transactions or at other times.