The only problem is that arbitrage tax is hard to measure, while sales loads and management fees are predictable values. But I agree with your point overall.
Getting pennies skimmed off of my trades is not nearly as big a deal as a 0.1% yearly recurring fee on say... a $100,000 retirement account. (ie: $100 / year). Those tiny percentages add up to a huge amount of money in the long run.
I've heard of reports of 1.5% or even higher management fees (or ~$1,500+ / year in this example)
Getting pennies skimmed off of my trades is not nearly as big a deal as a 0.1% yearly recurring fee on say... a $100,000 retirement account. (ie: $100 / year). Those tiny percentages add up to a huge amount of money in the long run.
I've heard of reports of 1.5% or even higher management fees (or ~$1,500+ / year in this example)