Key Points If the word "free" catches your eye, the broker has done their job. There's more to how much money you'll gain or lose than whether a fund charges a fee. Few things catch a consumer's eye more quickly than the word "free," and now, major brokerages have gotten into the game. The race to zero-fee has led more brokerages to offer exchange-traded funds (ETFs) with 0% expense ratios. However, as the old saying goes, if something seems too good to be true, it probably is.