First came mutual fund A shares, which have front-end sales loads.

In an A share, the sales load is up front, typically at most 5.75% of the amount invested.

A sales load may be well spent if your broker helps you select the right fund.

The fund carries a sales load of 4.5 percent.

That amounts to a front-end sales load of roughly 3 percent.

The expense ratio does not include sales loads or brokerage commissions.

So investors who refuse to pay sales loads as a matter of principle may want to reconsider.

Some investors may have paid sales loads to buy a fund and might face another big fee at a different company.

While 8.5 percent loads were once common, a 4 to 5 percent sales load is more the norm today.

The Internet is opening a new battle front against sales loads.