It is the ratio of total annual expenses to the fund's average net assets. (gokinfo.com)
A fund's total annual expenses expressed as a percentage of the fund's average net assets for the year, as stated in its prospectus. (funds.eatonvance.com)
Even though Schwab is employing all index funds in their MarketTrack funds and Vanguard is using a mix of index and actively managed funds, the Schwab MarketTrack funds can be expected to have a higher total annual expense ratio of about 0.50 % — a substantial long - term difference. (aaii.com)