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Determining the investment in november

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Steve invested in two ETFs, November Capital and Oscar Capital, five years ago. They have both earned the same returns before expenses for the last 5 years, about 8.5% per year. At that rate, before considering any expenses, the $10,000 invested 5 years ago is now worth $15,000. However, November has an expense ratio of 2% and Oscar has an expense ratio of 0.1%. Therefore, Steven's investment in November is worth $14,700, and his investment in Oscar is now worth $14,985.

How would you explain this to someone who wouldn't fully understand what is happening? 

Reference no: EM133272930

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