@article {Reichenstein8, author = {William R Reichenstein}, title = {Bond Fund Returns and Expenses}, volume = {8}, number = {4}, pages = {8--16}, year = {1999}, doi = {10.3905/joi.1999.319426}, publisher = {Institutional Investor Journals Umbrella}, abstract = {This study examines the relationship between expenses and net return among bond funds with similar style - that is, duration and quality. It concludes that there is a strong, negative relation between funds{\textquoteright} expense ratios and net return. Most evidence implies that fund expenses, whether in the form of an annual expense ratio or a one-time sales load, are deadweight losses to the investor. The evidence suggests that the lowest-cost bond fund within a sample of similar-style funds will consistently produce top quartile net returns over five-year and longer horizons. Low costs do not produce a persistent net return advantage over shorter horizons, however.}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/8/4/8}, eprint = {https://joi.pm-research.com/content/8/4/8.full.pdf}, journal = {The Journal of Investing} }