“If mutual funds didn’t exist today, would they have to be invented?” asks manager John Neff of the Akre Focus mutual fund. “I think the answer is very uncomfortably ‘no.’” ...

Open-end mutual fund and exchange-traded fund investors on average paid lower fees in 2021 than the year before, which saved investors an estimated $6.9 billion, according to Morningstar's 2021 fund ...