Your investing questions, our clear answers.

Our response:

Specialty funds are a type of mutual fund that focuses its investing activities within a specific industry or sector. MERs can range from less than 1% to more than 3% and while you don’t pay these expenses directly, they affect you because they reduce the fund’s returns. This can add up over time.

When selecting a mutual fund it’s important to understand the types of fees that affect your investments. Carefully review the fees and expenses of any funds you are considering, even for no-load funds. You can find information about fees in a mutual fund’s Fund Facts and in its simplified prospectus. It may be helpful to learn more about disclosure documents and the mutual fund fee calculator may also provide insight on how fees impact your investments over time. Speak with a registered financial representative for investment advice.