how does the total expense ratio ter differ from the gross expense ratio ger 
the gross expense ratio ger is the total percentage of a mutual fund s assets that are devoted to running the fund in some cases a fund may have agreements in place for waiving reimbursing or recouping some of the fund s fees this is often the case for new funds an investment company and its fund managers may agree to waive certain fees following the launch of a new fund to keep the expense ratio lower for investors the ter represents the fees charged to the fund after any waivers reimbursements and recoupments have been made these fee reductions are typically for a specified time frame after which the fund may incur all full costs 