When is the MER applied to ETFs (and Mutual Funds)?

Question

Curious,... i am on the verge of buy an ETF stock and noticed it had an MER% of 0.50%....How does this get applied to my purchase...do i get charged this at the end of the year or when i buy into the ETF?

And same goes with the Mutual Fund...how does the MER% fee get applied..when do i pay the amount and how?

Answer 1

A Mer is applied monthly of ETFs and Mutual Funds

You are not charged per se, It just dissappears from the NAV (net asset Value ) of the fund , you will not see the charge