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I don't understand how u/Cruian's comment answers the original questions in that Reddit post.

The expense ratios are taken from the fund's holdings directly, you never see the change in your account directly.

  1. So does the borrower of the ETF pay the [Management Expense Ratio ("MER")? The lender?

  2. If the borrower must pay the lender the dividends, is the borrower credited the MER? Or is the borrower debited the MER?

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  • $\begingroup$ Please write out the context of the user's comment in the actual question that you are posting here on StackExchange. $\endgroup$
    – Kitsune Cavalry
    Oct 10 '20 at 19:01
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As the answer says, the management fee is directly taken from the fund’s assets. The only way that anyone “pays” the fees is via lower returns. There is no cash flow to pay the fee.

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