### Comment:
yes you are though. etfs are companies too, they take money out too. they take a fee but it’s just behind the scenes so you don’t see it. the fact that they take money out is why they have to use leverage and other shit to try and replicate the movement of the market.

### REPLY:
The expense ratio of spy is .09%. which is nowhere close to 3%. The avg actively managed fund is .5 to 1%. Which is nowhere close to .09%. sure, you pay for the pleasure. But it's nowhere close to the cost of an actively traded fund or an investment manager or something which probably couldn't even stand up to the earnings of spy.

### END.