Model fund growth · Compare expense ratios · Find the break-even hurdle
Net return mode skips any additional expense-ratio charge in all panels. Loads, fixed fees and taxes remain additional. Presets are editable hypothetical fee examples, not current fund quotes.
Each after-tax amount assumes liquidation at that date; sale taxes and exit fees are not deducted from the continuing balance each year.
| Year | Gross deposits | Gross growth | Entry, expense and fixed fees | Distribution tax | Account balance | Cash before sale tax | Sale tax | After-tax cash |
|---|
| Fund | Expense Ratio | Liquidation cash before sale tax | Direct fees including exit | Net Gain |
|---|
| Year | Reference after tax | Zero added return after tax | Solved return after tax |
|---|
The calculator models fee drag under your chosen cash flows, return basis and tax assumptions. Its bridge separates direct charges from signed growth effects and distribution-tax differences. Higher fees alone do not establish a fund’s future performance.
q_after = (1 + g) × (1 − f); q_opening = 1 + g − f The fresh-page default charges expenses after growth: q=(1+g)×(1−f).
Choose the return quote and expense timing in Advanced. Default expenses use assets after growth; the archived option uses opening assets. Net-of-expense returns skip another expense-ratio deduction.
Inspect direct fees, growth effects and distribution taxes in the ledger. The selected expense timing applies before each end-month deposit.
Signed annual return-quote difference above the reference; matches terminal after-tax cash, with no ongoing deposits.
q_after = (1 + g) × (1 − f); q_opening = 1 + g − f The fresh-page default charges expenses after growth: q=(1+g)×(1−f). The archived opening-assets setting instead uses q=1+g−f: growth and expense both use opening monthly assets. With a return already net of fund expenses, f=0; no expense-ratio charge is added again. R is the annual return quote (%) and E the annual expense quote (%). Nominal return: g=R/1200; effective annual return: g=(1+R/100)^(1/12)−1. Proportional expense: f=E/1200; effective annual retention: f=1−(1−E/100)^(1/12). The fresh default uses nominal return and proportional expenses. These conversions are separate from the expense asset basis. Net-return mode sets f=0, while loads, fixed fees and taxes remain additional. The archived opening-assets option uses proportional expenses; effective annual expense retention is an after-growth option.
FV = P × q^N + M × (q^N − 1)/(q − 1) P is the initial deposit; M is the end-month deposit; N=12×years. This shortcut applies only without other loads, fixed fees or taxes. At q=1, FV=P+M×N. Advanced assumptions use the monthly cash ledger instead.
Difference = Direct Fees + Signed Growth Effect + Distribution-Tax Difference The selected expense setting uses assets after growth by default, or opening monthly assets for the archived setting; both precede each end-month deposit. Entry load applies to gross deposits; exit load is a flat percentage of terminal proceeds. Fixed fees are paid at each year end, capped at available assets. All modes use the selected settings. Distribution tax is a simplified tax on the entered share of positive monthly growth, with net distributions reinvested and added to sale basis. It does not model distributions during losses, tax lots or jurisdiction rules. Sale tax applies only to positive liquidation gain; no loss tax credit is invented. Annual after-tax rows show hypothetical liquidation at that date.
Author: Quinn Sumner - Editor
Owner: Quinn Sumner - Editorial owner
Reviewer: Calculover Editorial Review - Source and limitation review
Last reviewed: 2026-08-10
Last verified: 2026-08-10
Data effective: 2026-08-10
The fresh-page default charges expenses after growth: q=(1+g)×(1−f). The archived opening-assets setting instead uses q=1+g−f: growth and expense both use opening monthly assets. With a return already net of fund expenses, f=0; no expense-ratio charge is added again. R is the annual return quote (%) and E the annual expense quote (%). Nominal return: g=R/1200; effective annual return: g=(1+R/100)^(1/12)−1. Proportional expense: f=E/1200; effective annual retention: f=1−(1−E/100)^(1/12). The fresh default uses nominal return and proportional expenses. These conversions are separate from the expense asset basis. Net-return mode sets f=0, while loads, fixed fees and taxes remain additional. The archived opening-assets option uses proportional expenses; effective annual expense retention is an after-growth option.
Assumption: Mutual Fund Calculator relies on the values the user enters and does not independently verify income, balances, legal status, policy terms, or market quotes.
Assumption: The selected expense setting uses assets after growth by default, or opening monthly assets for the archived setting; both precede each end-month deposit. Entry load applies to gross deposits; exit load is a flat percentage of terminal proceeds. Fixed fees are paid at each year end, capped at available assets. All modes use the selected settings.
Assumption: Actual market returns are volatile and can differ materially from the constant-rate or scenario assumptions.
Assumption: The selected expense setting uses assets after growth by default, or opening monthly assets for the archived setting; both precede each end-month deposit. Entry load applies to gross deposits; exit load is a flat percentage of terminal proceeds. Fixed fees are paid at each year end, capped at available assets. All modes use the selected settings. Distribution tax is a simplified tax on the entered share of positive monthly growth, with net distributions reinvested and added to sale basis. It does not model distributions during losses, tax lots or jurisdiction rules. Sale tax applies only to positive liquidation gain; no loss tax credit is invented. Annual after-tax rows show hypothetical liquidation at that date.
Mutual Fund Calculator does not recommend securities, predict returns, include every fee or tax consequence, or assess whether an investment is suitable for the user.
Actual results depend on market performance, timing, taxes, fees, liquidity, reinvestment, and risk tolerance.
Signed annual return-quote difference above the reference; matches terminal after-tax cash, with no ongoing deposits. Magnitude scale capped at 2 percentage points; this is not a probability or difficulty rating.
Financial projections are for educational and illustrative purposes only. They do not constitute formal investment advice, asset valuation, tax planning, or recommendations to buy or sell specific mutual funds. Consult a CFP® or RIA before making portfolio reallocations or switching fund share classes.
Professional guidance: Mutual Fund Calculator is for investment math education only and is not investment, tax, legal, or financial advice. Consider risk, fees, taxes, and suitability before acting.
30-Year Cost of a 1% Expense Ratio
With nominal annual 7% divided monthly, end-month $500 deposits and post-growth asset fees, the 30-year balances are $686,803.84 at 0.03% expenses and $561,818.46 at 1%. The modeled gap is $124,985.39, before optional taxes and other charges.
Index vs. Advisor Fund Over 40 Years
With no further deposits, a 7% nominal annual quote divided monthly and post-growth expenses,40 years gives $80,584.21 at 0.03% expenses versus $49,453.97 at 1.25%. Both use the same hypothetical gross return, no other fees and no taxes.
Break-Even Hurdle Rate
The entered 0.97% is an approximate expense-gap comparison, not the solved hurdle. With a 7% nominal reference quote,0.03% reference expenses,1% comparison expenses and no other charges, the matching additional annual quote is 0.9764720599 percentage points. It is not a probability of outperformance. This example uses gross return quotes and the default after-growth expense timing.
Use either format to cite this calculator in a paper, report, or resource list.
The fresh-page default charges expenses after growth: q=(1+g)×(1−f). The archived opening-assets setting instead uses q=1+g−f: growth and expense both use opening monthly assets. With a return already net of fund expenses, f=0; no expense-ratio charge is added again. R is the annual return quote (%) and E the annual expense quote (%). Nominal return: g=R/1200; effective annual return: g=(1+R/100)^(1/12)−1. Proportional expense: f=E/1200; effective annual retention: f=1−(1−E/100)^(1/12). The fresh default uses nominal return and proportional expenses. These conversions are separate from the expense asset basis. Net-return mode sets f=0, while loads, fixed fees and taxes remain additional. The archived opening-assets option uses proportional expenses; effective annual expense retention is an after-growth option.
The selected expense setting uses assets after growth by default, or opening monthly assets for the archived setting; both precede each end-month deposit. Entry load applies to gross deposits; exit load is a flat percentage of terminal proceeds. Fixed fees are paid at each year end, capped at available assets. All modes use the selected settings.
P is the initial deposit; M is the end-month deposit; N=12×years. This shortcut applies only without other loads, fixed fees or taxes. At q=1, FV=P+M×N. Advanced assumptions use the monthly cash ledger instead.
With nominal annual 7% divided monthly, end-month $500 deposits and post-growth asset fees, the 30-year balances are $686,803.84 at 0.03% expenses and $561,818.46 at 1%. The modeled gap is $124,985.39, before optional taxes and other charges.
Distribution tax is a simplified tax on the entered share of positive monthly growth, with net distributions reinvested and added to sale basis. It does not model distributions during losses, tax lots or jurisdiction rules. Sale tax applies only to positive liquidation gain; no loss tax credit is invented. Annual after-tax rows show hypothetical liquidation at that date.
Signed annual return-quote difference above the reference; matches terminal after-tax cash, with no ongoing deposits.
The entered 0.97% is an approximate expense-gap comparison, not the solved hurdle. With a 7% nominal reference quote,0.03% reference expenses,1% comparison expenses and no other charges, the matching additional annual quote is 0.9764720599 percentage points. It is not a probability of outperformance.
Magnitude scale capped at 2 percentage points; this is not a probability or difficulty rating.
This example uses gross return quotes and the default after-growth expense timing.The fresh-page default charges expenses after growth: q=(1+g)×(1−f). The archived opening-assets setting instead uses q=1+g−f: growth and expense both use opening monthly assets. With a return already net of fund expenses, f=0; no expense-ratio charge is added again. R is the annual return quote (%) and E the annual expense quote (%). Nominal return: g=R/1200; effective annual return: g=(1+R/100)^(1/12)−1. Proportional expense: f=E/1200; effective annual retention: f=1−(1−E/100)^(1/12). The fresh default uses nominal return and proportional expenses. These conversions are separate from the expense asset basis. Net-return mode sets f=0, while loads, fixed fees and taxes remain additional. The archived opening-assets option uses proportional expenses; effective annual expense retention is an after-growth option.
Distribution tax is a simplified tax on the entered share of positive monthly growth, with net distributions reinvested and added to sale basis. It does not model distributions during losses, tax lots or jurisdiction rules. Sale tax applies only to positive liquidation gain; no loss tax credit is invented. Annual after-tax rows show hypothetical liquidation at that date.
The selected expense setting uses assets after growth by default, or opening monthly assets for the archived setting; both precede each end-month deposit. Entry load applies to gross deposits; exit load is a flat percentage of terminal proceeds. Fixed fees are paid at each year end, capped at available assets. All modes use the selected settings.
Choose the return quote and expense timing in Advanced. Default expenses use assets after growth; the archived option uses opening assets. Net-of-expense returns skip another expense-ratio deduction. See the formula section for separate annual-to-monthly return and expense conversions.
With nominal annual 7% divided monthly, end-month $500 deposits and post-growth asset fees, the 30-year balances are $686,803.84 at 0.03% expenses and $561,818.46 at 1%. The modeled gap is $124,985.39, before optional taxes and other charges.
Matched hypothetical fund assumptions Magnitude scale capped at 2 percentage points; this is not a probability or difficulty rating.
Signed annual return-quote difference above the reference; matches terminal after-tax cash, with no ongoing deposits. The entered 0.97% is an approximate expense-gap comparison, not the solved hurdle. With a 7% nominal reference quote,0.03% reference expenses,1% comparison expenses and no other charges, the matching additional annual quote is 0.9764720599 percentage points. It is not a probability of outperformance. This example uses gross return quotes and the default after-growth expense timing.
Entry load is charged on gross deposits. Exit load is a flat percentage of terminal proceeds. These are separate from the expense ratio. Fixed fees are paid at each year end, capped at available assets. All modes use the selected settings.
Distribution tax is a simplified tax on the entered share of positive monthly growth, with net distributions reinvested and added to sale basis. It does not model distributions during losses, tax lots or jurisdiction rules. Sale tax applies only to positive liquidation gain; no loss tax credit is invented.
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