What is the expense ratio for an ETF?
An expense ratio reflects how much a mutual fund or an ETF (exchange-traded fund) pays for portfolio management, administration, marketing, and distribution, among other expenses. You'll almost always see it expressed as a percentage of the fund's average net assets (instead of a flat dollar amount).
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
### Instruction: What is the expense ratio for an ETF?
### Input: 
### Response: An expense ratio reflects how much a mutual fund or an ETF (exchange-traded fund) pays for portfolio management, administration, marketing, and distribution, among other expenses. You'll almost always see it expressed as a percentage of the fund's average net assets (instead of a flat dollar amount).