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Fidelity sent me a letter in the mail about how my FUSEX (Spartan 500 Index Fund Investor Class) shares are now eligible to be converted to FUSVX (Spartan 500 Index Fund Advantage Class) shares (Advantage Class investment minimum dropped from $100K to $10K), and, as they touted how the expense ratio would now be 0.07% instead of 0.10%, this prompted me to look into Vanguard's current expense ratio. Since VFIAX (Vanguard 500 Index Fund Admiral Shares) is 0.05%, I'm considering moving funds.

Without opening up the S&P 500 vs Total Market index question (which has been debated quite a bit on TMF), I'm wondering if there are any costs to moving from a higher expense ratio fund to a lower one (assuming that the funds are roughly equivalent [S&P 500 to S&P 500, for example])?

I'm really thinking of the discussions around when it's a good idea to re-finance your mortgage and whether to switch from one online bank interest paying account to another, and wondering if there are similar calculations to be made for switching index funds based on expense ratios.

Thanks in advance for your perspective,

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