<prompt> Human: Lets say I own a target data 2050 Fund and the expense ratio is 1.That 2050 Fund is comprised of Domestic Stock Fund A, International Stock Fund B, and Bond Fund C. Each of these individual stockbond funds have an expense ratio of .5Am I losing 1.5 of my money a year to expenses? 1 to the target date plus .5 to the underlying funds.Or am I losing 1 of my money to expenses? i.e. is the 0.5 rolled into the target date fund expense ratio?  <response>: Some investors bristle at the thought that fund companies may be charging an additional layer of fees on top of those charged by a target-date funds underlying holdings, but often thats not the case.Janet Yang, director of multi-asset class strategies for Morningstar, says that these days fund companies generally do not layer on additional fees for their target-date funds. Indeed, a check with Fidelity, Vanguard, and T. Rowe Price found that none of them charge extra fees for management of their target-date series above what the underlying holdings charge.Yang says it hasnt always been this way. When target-date funds first came out, managers argued that they were providing an added service that deserved to be compensated, she says. Market pressure generally made that fee go away over the years.Yang says that some firms, including American Funds, technically still charge extra management fees for their target-date funds but waive those extra fees. Others, such as Manning Napier, continue to charge shareholders extra for management of the target-date fund, sometimes called an overlay fee. - morningstar.com article that came up from google search. shortanswer- in most cases they do not layer on another fee. 