Final answer:
No-load funds' expense ratio is lower than the sales load funds' expense ratio.
Step-by-step explanation:
The answer to your question is B) Lower. No-load funds do not charge a sales load or commission fee when buying or selling shares.
As a result, they tend to have lower expense ratios compared to sales load funds.
The expense ratio represents the annual operating costs of a mutual fund, including management fees, administrative expenses, and other miscellaneous charges. So, in general, no-load funds have lower expense ratios.