The Gross Expenses Ratio (GER) is the annual cost of investing in a mutual fund or ETF, or the portion of assets held for the cost of operating the fund.
GER includes commission exemptions or reimbursement of expenses, but not sales or brokerage commissions, which are not charged directly to the fund.
It is different from the net expense ratio, which includes fund management fees, administrative expenses, and other expenses, but does not include fee waivers or reimbursements.