Ann: April 2024 Investment Update, page-35

To sell vanguard products Bogle started this low fee culture and I agree partly that low fee helps, however what is important for any investor is what is total return on investment after the fees.

So hypothetically, if your total return (incl. divi + capital appreciation) after fees of 2% is 7% while the fund that provides your total return after fee of 0.14% is 4.5% then I would be happy to pay 2% fee and get 7% return at any day.

Hence, fee can't be considered in isolation. Fund A charge 0.14% fee while fund B charge 1.5% fee so to think fund B is bad isn't correct way to look at and hence i always look at total performance and not get into fee discussions.