Can you explain how expense ratios work in relation to investment funds?

Expense ratiOS in investment funds represent the percentage of a fund's assets that are used to cover operating expenses. These expenses can include management fees, administrative costs, and other operational expenses. A lower expense ratio typically means higher returns for investors, as less of their investment is being used to cover these costs. It's important for investors to consider expense ratiOS when choosing investment funds, as they can impact overall returns over time.