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Investment版 - Small Annual fee may cost big for your investment return
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话题: fee话题: return话题: cost话题: annual话题: sample
1 (共1页)
g****d
发帖数: 88
1
Here is the formula to caculate the difference with or without fee.
If we assume annual return rate before fee is X and annual fee is Y, after Z
years, the total return for an account without fee is:
(1.0 + X)^Z - 1.0
The return with the fee is:
(1.0 + X - Y)^Z - 1.0
Sample 1: X=5%, Y=2%, Z=30 years
return without fee = 332%, return with fee = 143%.
Cost of fee = 57% of your total return.
Sample 2: X=8% Y=1%, Z=30 Years
return without fee = 1006%, return with fee = 574%.
Cost of fee = 43% of your total return.
d*****r
发帖数: 273
2
I think the formula should be
((1 + X)(1-Y))^Z - 1.0
because the fee is charged based on the total amount invested, (1+X)^Z gives the total amount.
Sample 1: X=5%, Y=2%, Z=30 years
return without fee = 332%, return with fee = 136%.
Cost of fee = 59% of your total return.
Sample 2: X=8% Y=1%, Z=30 Years
return without fee = 1006%, return with fee = 644%.
Cost of fee = 36% of your total return.
No matter which formula to use, we come to the same conclusion: small annual fee may cost big for your investment return.

Z

【在 g****d 的大作中提到】
: Here is the formula to caculate the difference with or without fee.
: If we assume annual return rate before fee is X and annual fee is Y, after Z
: years, the total return for an account without fee is:
: (1.0 + X)^Z - 1.0
: The return with the fee is:
: (1.0 + X - Y)^Z - 1.0
: Sample 1: X=5%, Y=2%, Z=30 years
: return without fee = 332%, return with fee = 143%.
: Cost of fee = 57% of your total return.
: Sample 2: X=8% Y=1%, Z=30 Years

t*m
发帖数: 4414
3
也要考虑trading 成本吧。
就算每年trade 100次,消耗$500
这些钱如果去买spartan sp500 index fund, expense 0.001, 30 年,年均return 8%
等比数列求和,三十年大约消耗$55600.
如果每年投资量不大,比如 taxable account投 2W, 这500也 2.5% 了。

Z

【在 g****d 的大作中提到】
: Here is the formula to caculate the difference with or without fee.
: If we assume annual return rate before fee is X and annual fee is Y, after Z
: years, the total return for an account without fee is:
: (1.0 + X)^Z - 1.0
: The return with the fee is:
: (1.0 + X - Y)^Z - 1.0
: Sample 1: X=5%, Y=2%, Z=30 years
: return without fee = 332%, return with fee = 143%.
: Cost of fee = 57% of your total return.
: Sample 2: X=8% Y=1%, Z=30 Years

t*m
发帖数: 4414
4
这个expense是按天算的。所以应该是 净return率, W
在您二位说的两个数之间。

gives the total amount.
annual fee may cost big for your investment return.
after

【在 d*****r 的大作中提到】
: I think the formula should be
: ((1 + X)(1-Y))^Z - 1.0
: because the fee is charged based on the total amount invested, (1+X)^Z gives the total amount.
: Sample 1: X=5%, Y=2%, Z=30 years
: return without fee = 332%, return with fee = 136%.
: Cost of fee = 59% of your total return.
: Sample 2: X=8% Y=1%, Z=30 Years
: return without fee = 1006%, return with fee = 644%.
: Cost of fee = 36% of your total return.
: No matter which formula to use, we come to the same conclusion: small annual fee may cost big for your investment return.

d*****r
发帖数: 273
5
You are right. The number is in between of the two calculation.

【在 t*m 的大作中提到】
: 这个expense是按天算的。所以应该是 净return率, W
: 在您二位说的两个数之间。
:
: gives the total amount.
: annual fee may cost big for your investment return.
: after

t*m
发帖数: 4414
6
这个数可以用天return和 天expense 来算。
先算天return, x
如果年return=0.08, 250 daysper year.
(1+x)^250=1.08; x=3E-4;
我不知道 daily expense,y 怎么算法。
我想一种可能的算法是,假设一年250天, spartan index fund expense 0.001/year
(1-y)^250 = 1-0.001
=> y = 4E-6
您看看这么算对吗?

【在 d*****r 的大作中提到】
: You are right. The number is in between of the two calculation.
g****d
发帖数: 88
7
Whatever, small annual fee does cost a lot of money, especially in long term
investments
1 (共1页)
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话题: fee话题: return话题: cost话题: annual话题: sample