# Fees make a big difference

*For example:*
Let's say you invest $10,000 in a fund with a return
of 10% before expenses. If the fund had annual operating expenses of
1.5%, then, after 20 years,
you would end up with roughly $49,725. If the fund
had expenses of 0.5%, then you would end up with
$60,858 -- **an 18%
difference**.

*http://www.sec.gov/investor/tools/mfcc/fee-comparison-help.htm*