Direct plan
Market basicsA mutual fund version with no distributor commission built into the expense ratio.
In plain terms
Same fund, same manager, same portfolio — typically 0.5–1% cheaper every single year.
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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A mutual fund version with no distributor commission built into the expense ratio.
Same fund, same manager, same portfolio — typically 0.5–1% cheaper every single year.