The article investigates the performance of over 1,700 actively managed retail equity mutual funds with different expense ratios. By analyzing fund expenses and performance measures, the study finds that larger funds with lower expenses tend to perform better. Funds with low trading activity and no or low front-end loads also show superior performance. The presence of 12b-1 fees does not impact fund performance. Overall, the research suggests that investors can use expense ratios and fund characteristics to identify funds with better performance.