ETF Expense Ratio Comparison Worksheet

Compare up to three user-entered annual expense ratios under the same starting amount, assumed gross annual return, and time horizon. The worksheet calculates hypothetical balances only; it does not look up funds, rank products, or recommend an investment.

Compare fee assumptions

Enter common assumptions and fee ratios to compare modeled outcomes.

The assumed return and expense ratios are inputs, not forecasts or fund data. Results are educational examples, not financial advice.

Formula, inputs, and sources

Formula: For each year, scenario balance = prior balance × (1 + assumed gross return) × (1 − annual expense ratio). Modeled annual expense = balance after assumed growth × expense ratio. Dollar costs are summed across years.
Inputs and units: One starting amount and gross annual return shared by all scenarios; one to three labels and annual expense ratios; whole years; optional currency display label.
Output and limits: Ending balance, sum of modeled annual expense charges, and ending-balance difference versus Scenario A. Assumes a single initial investment, fixed annual rates, and a fee deduction after annual gross growth. Excludes contributions, withdrawals, taxes, inflation, brokerage costs, bid-ask spreads, and tracking differences.
Sources and version: Investor.gov Free Financial Planning Tools lists the Fund Analyzer for comparing fund fees; its Expense Ratio glossary defines the measure. Both accessed 2026-11-03. Reviewed 2026-11-03.

What does this ETF expense ratio comparison show?

This worksheet applies different expense ratios to one shared hypothetical investment. You enter the starting amount, gross annual return assumption, time horizon, and one to three fee percentages. The same starting value and return assumption are used for each scenario, so the displayed balance differences come from the fee inputs and the stated formula.

An expense ratio is the percentage of a fund's average net assets used each year to pay operating expenses. Investor.gov says the figure appears in a fund's prospectus fee table. Its free financial tools page lists the Fund Analyzer as a way to see how fees and expenses can affect investments in mutual funds, ETFs, ETNs, and money market funds. These sources support comparing costs; this worksheet itself uses only the numbers you enter. Sources: Investor.gov, Expense Ratio and Investor.gov, Free Financial Planning Tools, accessed 2026-11-03.

For each scenario, the worksheet grows the prior balance by the assumed gross return and then applies the expense ratio to that post-growth balance. It repeats this once per year. The sum of yearly dollar charges is also shown. The difference between ending balances is not the same as that sum, because amounts deducted in earlier years also miss later assumed growth.

Use the current prospectus fee table when entering a fund's annual expense ratio, and confirm what fees the figure includes. Do not use a stale quote or assume that two funds with different strategies have comparable risks or holdings just because their fees can be compared here. No fund names, current ratios, returns, share prices, or performance data are fetched or stored.

This is a simplified scenario, not a forecast or product ranking. Actual returns and fund expenses change; expenses may accrue differently from this annual approximation. The calculation omits taxes, account-level charges, trading commissions, bid-ask spreads, inflation, cash flows, tracking difference, and other costs. Review prospectuses and other fund disclosures for a complete comparison.

Frequently asked questions

Does the worksheet find current ETF expense ratios?

No. Enter the ratios from the current fund prospectuses or another source you have checked. The worksheet does not fetch or verify fund data.

Does the lowest ratio mean a fund is better?

No. This page compares only a simplified fee effect under shared assumptions. It does not compare investments, holdings, risks, services, or performance and makes no product recommendation.

Why can the ending-value gap differ from the fee total?

The fee total adds the modeled annual dollar deductions. The ending-value gap also reflects assumed future growth that money deducted earlier did not earn.

Are the assumed returns guaranteed?

No. The gross return is supplied by you for illustration. Actual returns, expenses, and investment outcomes can be higher or lower.

Formula and attribution

Last updated: 2026-11-03

For each whole year and scenario: afterGrowth = priorBalance × (1 + user-entered gross annual return); annual expense = afterGrowth × user-entered expense ratio; next balance = afterGrowth − annual expense. Summed annual expenses are shown separately. All scenarios share one starting amount, return assumption, and horizon; no fund data or recommendation is provided.

initial (currency units): Positive starting amount shared across scenarios.
gross_return (percent per year): User-entered assumed gross return shared across scenarios; not a forecast.
years (whole years): Common scenario horizon from 1 to 100 years.
scenario_label (text): User-entered label for each of two or three scenarios.
expense_ratio (percent per year): User-entered fund expense ratio for each scenario; not fetched or verified.
currency (display label): Optional currency display label; no currency conversion is performed.

Output (currency units): Hypothetical ending balance, sum of modeled annual charges, and difference from Scenario A under a simplified annual fee deduction. Excludes taxes, trading costs, tracking differences, cash flows, inflation, and fund-specific data.