If you're invested in mutual funds, you're probably paying less for them these days. New data from the Investment Company Institute shows that expense ratios for equity, hybrid, and bond mutual funds dropped to their lowest level in two decades in 2015.
Last year saw overall fund expense ratios decline by two basis points, to 0.68 percent, weighted by assets. That followed a four-basis-point decline in 2014. Those fees have now fallen for six straight years.
In the category of bond funds, fund expense ratios fell three basis points, to 0.54 percent. The focal point for that decline was high-yield bond funds, which performed poorly last year and in general are likely to have higher fees.