"They have forced fees in the investment industry lower, too. The average U.S. equity mutual fund charges a little over 1 per cent a year, but that is lower than a few years ago. ETFs on average charge about half that, and some much lower."

I am under the impression that the MER's - in Canada - for most equity mutual funds are at least 2%.  If this is correct, and I believe it is, why are Canadian MERs so much higher than US mutual fund MERs?

Anyone care to wade in on this?