... examines recent trends in the expenses and fees of mutual funds. Expense ratios of equity, bond, and hybrid funds declined in 2011 owing to declines in the expense ratios of individual funds, ... Collins, Sean, and Emily Gallagher, 2012. Trends in the Expenses and Fees of Mutual Funds, 2011. ” ICI Research Perspective 18, no. 2 (April). Trends in the Expenses and Fees of Mutual Funds, ... percent increase in assets in 2011 versus only a 1 percent increase in 2010, helping to explain why average expenses of all bond funds declined in 2011 but held steady in 2010.Index FundsAnother...