Mutual funds have a low- or no-cost exchange privilege that permits mutual fund shareholders to easily swap shares on a dollar-for-dollar basis for shares in another mutual fund managed by the same mutual fund family.

Question

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Mutual funds do have a low- or no-cost exchange privilege that allows shareholders to easily swap shares for another mutual fund within the same fund family on a dollar-for-dollar basis. This allows investors to easily move between different funds managed by the same company without incurring significant fees or costs.

Mutual Funds Have a Low- or No-Cost Exchange Privilege That