I'm not as sure. The 2% fee is a management fee. There's no performance fee. Stock index funds have low management fees because stocks are very liquid and they

I'm not as sure. The 2% fee is a management fee. There's no performance fee. Stock index funds have low management fees because stocks are very liquid and they have people who do the trade executions for them to not move the market very much. Plus, you get lots of investors so you can charge a lower fee and still cover your fixed costs. Given all that, a 2% fee does not seem like it's fleecing investors, but it does seem possible someone else could do it for less.