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FYI: The evidence is clear that investors are waking up to the fact that, while the past performance of actively managed mutual funds has no value as a predictor of future performance, expense ratios do—lower-cost funds persistently outperform higher-cost ones in the same asset class. Regards, Ted http://www.etf.com/sections/index-investor-corner/swedroe-look-past-expense-ratios?nopaging=1