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  1. Knowledge
  2. ›Glossary
  3. ›TER (Total Expense Ratio)

Portfolio

TER (Total Expense Ratio)

A fund's annual total cost ratio, expressed as a percentage of fund assets and deducted from them automatically.

The Total Expense Ratio (TER) states the annual total costs of a fund as a percentage of fund assets. It includes management fees, custodian-bank costs, and other operating expenses.

Typical TER values are 0.05–0.20% for global equity ETFs, 0.30–0.65% for thematic ETFs, and 1.0–2.0% for actively managed funds.

Important: the TER does not cover every cost. The tracking difference (the actual deviation from the index) is generally a better indicator of total costs, as it also accounts for internal transaction costs and securities-lending income.

Related terms

ETF (Exchange-Traded Fund)Return/YieldSavings Plan (DCA)

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