No, because the 0.08% is a percentage of the _assets_. So if your return is 8.24% of assets per year and your fees are 0.08% of asserts per year, then your fee

No, because the 0.08% is a percentage of the _assets_. So if your return is 8.24% of assets per year and your fees are 0.08% of asserts per year, then your fees are 0.08/8.24 = 0.0097 of your returns. Or in other words 0.97% of the returns. Rounding gives you the 1%.