I'm building a portfolio on Excel that includes the following data:
- price at purchase
- number of shares
- current price
How should I calculate the impact of the Annual Expense Ratio to my P&L?
I understand from many sources on the web as well as questions here on SE that Annual Expense Ratio is deducted from the NAV on a daily basis.
Would I need to calculate the number of days since I purchased the ETF, pro-rate the Annual Expense Ratio and subtract from the Current Value field?