Investment fee calculator
Compare up to three fee scenarios side by side and see, in dollars, what management fees and MERs cost you over the years, including the growth you give up.
Free · No sign-up · Updated October 2026
$91,840less with Mutual fund than Self-directed ETFs after 25 years
- Robo-advisor (0.6% a year)
- $345,511
- Self-directed ETFs (0.2% a year)
- $368,750
- Mutual fund (2% a year)
- $276,910
- You put in
- $160,000
Returns aren’t guaranteed and will vary from year to year. A steady return is a simplification; fees are charged whether markets rise or fall.
Next step: compare robo-advisors and online brokers.
Side by side
Robo-advisor
$345,511
$21,353 in fees paid
$23,238 less than Self-directed ETFs
Self-directed ETFs
$368,750
$7,438 in fees paid
Lowest fees
Mutual fund
$276,910
$61,326 in fees paid
$91,840 less than Self-directed ETFs
The gap is bigger than the fees paid because money taken in fees also stops growing. Total fees here are the dollars deducted; the gap is what you end up without.
| Year | Robo-advisor | Self-directed ETFs | Mutual fund |
|---|---|---|---|
| Year 5 | $47,197 | $47,813 | $45,116 |
| Year 10 | $95,504 | $97,913 | $87,634 |
| Year 15 | $158,238 | $164,289 | $139,113 |
| Year 20 | $239,708 | $252,233 | $201,443 |
| Year 25 | $345,511 | $368,750 | $276,910 |
How this calculator works
How fees are taken
Each month we grow your balance at the return you enter, take one twelfth of the yearly fee (management fee plus MER) on that balance, then add your monthly contribution. That mirrors how MERs come out of a fund’s value and how most robo-advisors bill monthly or quarterly on your assets.
Total fees paid is the sum of those deductions. The cost against the lowest-fee scenario is the difference in ending balances, which is larger because fees taken out also stop compounding.
Where the examples come from
The robo-advisor example uses Wealthsimple Managed Investing’s published Core fee (0.5% under $100,000) and a 0.10% MER, the middle of its Classic portfolio range of 0.08% to 0.12%, checked October 14, 2026. It’s one provider’s figures, used as an example, not a recommendation.
The self-directed ETF (0.20%) and mutual fund (2.00%) MERs are editable examples, not market averages. Replace them with the MER from the Fund Facts or ETF Facts document of what you hold or are considering.
What it leaves out
Returns aren’t guaranteed, and a steady yearly return is a simplification; real returns vary. Results are estimates before tax and inflation.
Sales tax on management fees, trading commissions, currency conversion fees, minimum fees and fee discounts at higher balances aren’t included. A fund’s trading expense ratio is also an extra cost on top of its MER.
Frequently Asked Questions
What is an MER?
The management expense ratio is a fund’s yearly cost as a percentage of your money in it, covering the management fee, operating costs and taxes on them. It isn’t billed to you; it’s taken out of the fund, so you see it as a lower return. You’ll find it in the fund’s Fund Facts or ETF Facts document.
How much do investment fees cost over time?
More than the percentage suggests. Starting with $10,000, adding $500 a month for 25 years at 6% before fees, a 0.2% fee leaves about $368,750, a 0.6% fee about $345,511 and a 2% fee about $276,910. That’s a gap of about $91,840 between the lowest and highest fee, and returns aren’t guaranteed.
Is a 1% investment fee a lot?
It adds up over long periods. On $100,000 left for 25 years at 6% before fees, a 1% fee leaves about $334,216, compared with about $408,254 at 0.2%. Whether it’s worth it depends on the advice and service you get for it.
How much does a robo-advisor cost in Canada?
Most charge a management fee plus the MER of the ETFs they use. As of October 14, 2026, Wealthsimple Managed Investing Core charged 0.5% (Classic portfolio MERs 0.08% to 0.12%), Questwealth 0.25% under $100,000 (portfolio MERs 0.09% to 0.12%) and RBC InvestEase 0.50% (core portfolio MERs 0.12% to 0.20%). Fees can change, so check the provider’s pricing page.
What fees does Wealthsimple charge?
As of October 14, 2026, Wealthsimple’s self-directed trading charged $0 commission on Canadian and U.S. listed stocks and ETFs, with a 1.5% currency conversion fee if you don’t have a USD account. Its managed portfolios charged a 0.5% management fee on balances under $100,000 on the Core plan, plus the funds’ MERs.
Index funds vs mutual funds: which has lower fees?
Index funds and index ETFs track a market index rather than paying managers to pick investments, so they often have lower MERs. But some mutual funds are index funds, and some ETFs are expensive, so compare the MER in each fund’s facts document rather than going by the label.
GIC vs mutual funds: which is better?
They do different jobs. A GIC pays a set rate and, at a CDIC member, eligible deposits are protected up to the limits; a mutual fund can rise or fall and charges an MER every year. GICs suit money you need by a fixed date, while funds suit long-term goals where you can ride out drops.
Are investment fees tax deductible in Canada?
Fees you pay for investment advice or management of a non-registered account can generally be claimed as carrying charges, according to the CRA. Fees for registered accounts like a TFSA or RRSP aren’t deductible, and MERs are already reflected in the fund’s return. Check with the CRA or a tax professional for your situation.
Where do I find a fund’s fees?
Every mutual fund in Canada has a Fund Facts document and every ETF has an ETF Facts document, each listing the MER and trading expense ratio. Robo-advisors and advisors publish their management fees separately, so add the two together for your total cost.
Results are estimates for general information, not financial advice. Confirm rates, fees and terms with your card issuer or bank. See our methodology.