The Management Expense Ratio (MER) represents the combined total of the management fee, operating expenses, and taxes charged to a fund during a given year expressed as a percentage of a fund's average net assets for that year. All mutual funds have a MER.

The ETFs in your Moka investment account have fees that range from 0.09% to 0.39% for regular portfolios. The ETF providers charge this fee directly to the fund, not to your account, so while you will not see a charge for this amount, it will slightly reduce the value of your investments. For example, if you were to invest $10.00 in an ETF with an MER of 0.16%, the value of the ETF would be reduced by approximately $0.016 over the course of a year due to MER fees. This kind of fee is charged over and above the performance of the index.

Moka’s trusted partner, Mogo Asset Management, works hard to choose ETFs that have a low MER fee and provide a suitable risk-return profile for Moka users.