They can include management fees, 12b-1 fees (paid by the fund out of fund assets to cover distribution expenses and sometimes shareholder service expenses), and other expenses.
operating expense Tooltipoperating expenses cover the management and marketing of investment products, such as mutual funds and ETFs. They can include management fees, 12b-1 fees (paid by the fund out of fund assets to cover distribution expenses and sometimes shareholder service expenses), and other expenses.