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welcome back to ETF comm live the video edition my name is Dave notic managing director here at ETF comm and we had a great question today which is one of those simple questions that I think is actually really important to understand the nuances of the question was simply how do I as an investor get charged the expense ratio of a fund now the short answer here is pretty simple you donamp;#39;t it actually gets rolled into every nightamp;#39;s net asset value but understanding what that means I think highlights a lot of interesting things about investing in any kind of pooled structure whether thatamp;#39;s an ETF or a mutual fund so if you think about an ETF as a company or a mutual fund as a company which it technically is every day they close their books so they own a bunch of things they own all the stocks and the fund perhaps on they may have some cash sitting around but they also Oh some things they have liabilities that might just be dividends that they havenamp;#39;t actuall