[nattaggart]

Even an algorithm has some (although very small) management fee. The cheapest ETFs have an expense ratio of .05%.

So from this perspective, it'd make sense to go with the human fund manager who was beating the market and charging exactly his outperformance.

[cjhopman]

Vanguard institutional plus is 0.02%

[nattaggart]

Thanks for the correction. Institutional funds were off my radar but they definitely apply in this case.