GOOD PERFORMANCE WORTH COST OF ADMISSION

This "Financial Focus" column is prepared by Edward Jones Investments, headquartered in St. Louis. Jones includes branches throughout the nation, including Cape Girardeau and Jackson.

Whether you're a football fanatic, movie maniac or ballet buff, you're probably willing to pay the cost of admission to enjoy a good performance. So why do people think they can experience great investment performance without an admission ticket?

Newsletters, magazines and advertising continue to tout no-load mutual funds, but they don't say the investment is without cost -- just without commission. Because you get neither a registered professional to help you select an appropriate investment, nor personal service thereafter, there's no charge for it. That's the only free part.

However, all mutual funds have ongoing expenses, which take away from your return. For example, for long-term investors (which every mutual fund investor should be), a no-commission fund with a 1.5 percent annual fee can prove more expensive than a load fund charging 5 percent upfront but with annual fees of 1 percent or less.

Perhaps even more notable is the fact investors who buy no-load funds tend to bounce around between funds and bail out during tough times. They're also less likely to be there when the market recovers. These factors reduce their returns further.

Investors who pay for an admission ticket, however, are more likely to stay for the whole show. They don't panic as easily, because they have help to navigate through downturns. And the result of their long-term focus is that they enjoy a better performance.

At one time, several mutual funds offered an upfront commission-heavy contractual plan, structured for people who didn't have large sums but could make -- regular, small investments. Most of the total commission was paid the first year, and the remaining 10 or 15 years of the contract were virtually commission-free.

Very few people, if any, didn't complete their plan. They paid the price of a ticket and stayed for the whole show. The best part is, these small investors did exceptionally well.

Your chances of getting the most from your investments are much greater if you have help from a professional. Just ask anyone who paid a commission and stuck with their investment how they feel about paying for good professional advice.

Don't miss a hit performance because you won't buy a ticket.

The Southeast Missourian does not recommend that readers buy or sell stocks featured in this column, which is provided for informational purposes only.