{"id":9283,"date":"2025-01-17T11:00:42","date_gmt":"2025-01-17T10:00:42","guid":{"rendered":"https:\/\/www.forexsrovnavac.cz\/mag\/?p=9283"},"modified":"2025-01-17T14:49:56","modified_gmt":"2025-01-17T13:49:56","slug":"celkove-naklady-a-poplatky-za-drzeni-etf-ukazatel-nakladovosti-ter","status":"publish","type":"post","link":"https:\/\/www.forexsrovnavac.cz\/mag\/celkove-naklady-a-poplatky-za-drzeni-etf-ukazatel-nakladovosti-ter\/","title":{"rendered":"Celkov\u00e9 n\u00e1klady a poplatky za dr\u017een\u00ed ETF: Ukazatel n\u00e1kladovosti (TER)"},"content":{"rendered":"<p>Burzovn\u011b obchodovan\u00e9 fondy (ETF) se staly jedn\u00edm z <strong>nejobl\u00edben\u011bj\u0161\u00edch investi\u010dn\u00edch n\u00e1stroj\u016f<\/strong> pro dlouhodob\u00e9 investory. Jejich popularita pramen\u00ed p\u0159edev\u0161\u00edm z ni\u017e\u0161\u00edch n\u00e1klad\u016f ve srovn\u00e1n\u00ed s aktivn\u011b \u0159\u00edzen\u00fdmi fondy. Nicm\u00e9n\u011b i zd\u00e1nliv\u011b n\u00edzk\u00e9 n\u00e1klady mohou m\u00edt v dlouhodob\u00e9m horizontu v\u00fdznamn\u00fd dopad na celkov\u00fd v\u00fdnos investice.<\/p>\n<p>P\u0159edstavte si situaci, kdy investujeme 10 000 EUR na 30 let s p\u0159edpokl\u00e1dan\u00fdm ro\u010dn\u00edm v\u00fdnosem 7 %. Rozd\u00edl mezi ETF s celkov\u00fdmi poplatky od 0,2 % do 1 % ro\u010dn\u011b m\u016f\u017ee na konci investi\u010dn\u00edho horizontu p\u0159edstavovat rozd\u00edl a\u017e n\u011bkolik tis\u00edc eur. Jak tedy porozum\u011bt v\u0161em n\u00e1klad\u016fm spojen\u00fdm s investov\u00e1n\u00edm do ETF?<\/p>\n<p>Pro komplexn\u00ed pochopen\u00ed n\u00e1kladov\u00e9 struktury ETF je t\u0159eba se zam\u011b\u0159it na dva hlavn\u00ed ukazatele:<\/p>\n<ul>\n<li>Total Expense Ratio (TER) &#8211; celkov\u00fd ukazatel n\u00e1kladovosti<\/li>\n<li>Total Cost of Ownership (TCO) &#8211; celkov\u00e9 n\u00e1klady na vlastnictv\u00ed<\/li>\n<\/ul>\n<p>Zat\u00edmco <strong>TER je snadno dohledateln\u00fd<\/strong> a \u010dasto propagovan\u00fd poplatek, <strong>TCO poskytuje realisti\u010dt\u011bj\u0161\u00ed obraz<\/strong> o skute\u010dn\u00fdch n\u00e1kladech investice do ETFka. V tomto \u010dl\u00e1nku se podrobn\u011b pod\u00edv\u00e1me na oba ukazatele, jejich slo\u017eky a dopady na n\u00e1kladovost investice.<\/p>\n<h2>Co je Total Expense Ratio (TER)?<\/h2>\n<p>Total Expense Ratio (celkov\u00fd ukazatel n\u00e1kladovosti) vyjad\u0159uje celkov\u00e9 ro\u010dn\u00ed n\u00e1klady na spr\u00e1vu a provoz ETF fondu. Tento poplatek je automaticky ode\u010d\u00edt\u00e1n z hodnoty ETF a projevuje se v jeho v\u00fdkonnosti. TER se uv\u00e1d\u00ed jako procento z celkov\u00e9 hodnoty spravovan\u00fdch aktiv a p\u0159edstavuje minim\u00e1ln\u00ed n\u00e1klad, kter\u00fd investor plat\u00ed p\u0159i dlouhodob\u00e9m dr\u017een\u00ed ETF.<\/p>\n<p><strong>TER je d\u016fle\u017eit\u00fd ukazatel ze t\u0159\u00ed hlavn\u00edch d\u016fvod\u016f:<\/strong><\/p>\n<ul>\n<li>Transparentnost &#8211; poskytuje jasn\u00fd p\u0159ehled o z\u00e1kladn\u00edch n\u00e1kladech fondu<\/li>\n<li>Srovnatelnost &#8211; umo\u017e\u0148uje jednoduch\u00e9 porovn\u00e1n\u00ed n\u00e1kladovosti r\u016fzn\u00fdch ETF<\/li>\n<li>P\u0159edv\u00eddatelnost &#8211; n\u00e1klady jsou stabiln\u00ed a dob\u0159e p\u0159edv\u00eddateln\u00e9<\/li>\n<\/ul>\n<p>TER se skl\u00e1d\u00e1 ze \u010dty\u0159 hlavn\u00edch kategori\u00ed n\u00e1klad\u016f. Nejv\u011bt\u0161\u00ed \u010d\u00e1st (50-80 %) tvo\u0159\u00ed mana\u017eersk\u00fd poplatek, kter\u00fd pokr\u00fdv\u00e1 spr\u00e1vu portfolia, sledov\u00e1n\u00ed indexu a rebalancov\u00e1n\u00ed. D\u00e1le zahrnuje administrativn\u00ed n\u00e1klady (\u00fa\u010detnictv\u00ed, audit, pr\u00e1vn\u00ed slu\u017eby), marketingov\u00e9 a distribu\u010dn\u00ed n\u00e1klady regulovan\u00e9 sm\u011brnic\u00ed MIFID II (propagace, dokumentace KID) a poplatky za \u00faschovu placen\u00e9 depozit\u00e1\u0159i (\u00faschova cenn\u00fdch pap\u00edr\u016f, vypo\u0159\u00e1d\u00e1n\u00ed obchod\u016f, monitoring).<\/p>\n<div id=\"attachment_9284\" style=\"width: 849px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf.png\"><img alt=\"\" loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9284\" class=\"wp-image-9284 size-full\" title=\"Graf zobrazuj\u00edc\u00ed rozp\u011bt\u00ed ukazatele n\u00e1kladovosti (TER) pro r\u016fzn\u00e9 typy ETF fond\u016f\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf.png\" alt=\"\" width=\"849\" height=\"615\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf.png 849w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf-150x109.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf-768x556.png 768w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf-55x40.png 55w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf-44x32.png 44w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf-110x80.png 110w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/hodnoty-ter-podle-typu-etf-186x135.png 186w\" sizes=\"auto, (max-width: 849px) 100vw, 849px\" \/><\/a><p id=\"caption-attachment-9284\" class=\"wp-caption-text\">Graf zobrazuj\u00edc\u00ed rozp\u011bt\u00ed ukazatele n\u00e1kladovosti (TER) pro r\u016fzn\u00e9 typy ETF fond\u016f, od nejlevn\u011bj\u0161\u00edch \u0161irok\u00fdch akciov\u00fdch index\u016f a\u017e po nejdra\u017e\u0161\u00ed tematick\u00e9 ETF.<\/p><\/div>\n<p>Infografika zobrazuje typick\u00e9 rozp\u011bt\u00ed celkov\u00e9ho ukazatele n\u00e1kladovosti (TER) pro r\u016fzn\u00e9 typy <a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/co-jsou-to-etf-vyhody-a-nevyhody-investovani-do-etf\/\">ETF<\/a> fond\u016f. <strong>Nejni\u017e\u0161\u00ed n\u00e1klady maj\u00ed \u0161iroce diverzifikovan\u00e9 akciov\u00e9 ETF<\/strong> sleduj\u00edc\u00ed hlavn\u00ed tr\u017en\u00ed indexy (0,03-0,20 %), n\u00e1sledovan\u00e9 st\u00e1tn\u00edmi dluhopisov\u00fdmi ETF (0,05-0,20 %). Se zvy\u0161uj\u00edc\u00ed se specializac\u00ed rostou i n\u00e1klady &#8211; sektorov\u00e9 akciov\u00e9 ETF (0,20-0,50 %) a korpor\u00e1tn\u00ed dluhopisov\u00e9 ETF (0,15-0,40 %) jsou dra\u017e\u0161\u00ed kv\u016fli u\u017e\u0161\u00edmu zam\u011b\u0159en\u00ed.<\/p>\n<p><strong>Nejvy\u0161\u0161\u00ed n\u00e1klady<\/strong> najdeme u specializovan\u00fdch ETF, jako jsou tematick\u00e9 ETF (0,40-0,75 %), ETF zam\u011b\u0159en\u00e9 na rozvojov\u00e9 trhy (0,30-0,70 %) nebo high-yield dluhopisov\u00e9 ETF (0,40-0,70 %), co\u017e je d\u00e1no jejich komplexn\u011bj\u0161\u00ed spr\u00e1vou, men\u0161\u00edm objemem aktiv a n\u00e1ro\u010dn\u011bj\u0161\u00edm p\u0159\u00edstupem na c\u00edlov\u00e9 trhy.<\/p>\n<p>Je d\u016fle\u017eit\u00e9 poznamenat, \u017ee TER nen\u00ed jedin\u00fdm n\u00e1kladem spojen\u00fdm s investov\u00e1n\u00edm do ETF. Proto by investo\u0159i m\u011bli p\u0159i sv\u00e9m rozhodov\u00e1n\u00ed zohlednit i dal\u0161\u00ed n\u00e1klady, kter\u00e9 jsou zahrnuty v ukazateli TCO (Total Cost of Ownership), kter\u00e9mu se budeme v\u011bnovat v dal\u0161\u00ed \u010d\u00e1sti \u010dl\u00e1nku.<\/p>\n<h2>Co je Total cost of ownership (TCO)?<\/h2>\n<p>Total Cost of Ownership (celkov\u00e9 n\u00e1klady na vlastnictv\u00ed) p\u0159edstavuje komplexn\u00ed pohled na skute\u010dn\u00e9 n\u00e1klady spojen\u00e9 s investov\u00e1n\u00edm do ETF. Zat\u00edmco TER zachycuje pouze p\u0159\u00edm\u00e9 n\u00e1klady spr\u00e1vy fondu, TCO zahrnuje v\u0161echny n\u00e1klady, kter\u00e9 investor mus\u00ed vynalo\u017eit p\u0159i n\u00e1kupu, dr\u017een\u00ed a prodeji ETF.<\/p>\n<p>Mezi dodate\u010dn\u00e9 n\u00e1klady nad r\u00e1mec TER pat\u0159\u00ed n\u011bkolik kl\u00ed\u010dov\u00fdch slo\u017eek. Prvn\u00ed je <a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/co-je-to-spread-poplatky-za-obchodovani\/\">spread<\/a>, tedy rozd\u00edl mezi n\u00e1kupn\u00ed a prodejn\u00ed cenou ETF, kter\u00fd m\u016f\u017ee u m\u00e9n\u011b likvidn\u00edch fond\u016f dosahovat 0,1-1 % nebo i v\u00edce, p\u0159i\u010dem\u017e vy\u0161\u0161\u00ed spready jsou typick\u00e9 zejm\u00e9na pro specializovan\u00e9 ETF a v obdob\u00edch zv\u00fd\u0161en\u00e9 tr\u017en\u00ed volatility.<\/p>\n<p>Druhou slo\u017ekou jsou<strong> brokersk\u00e9 poplatky<\/strong> za n\u00e1kup a prodej ETF, kter\u00e9 mohou b\u00fdt bu\u010f fixn\u00ed (nap\u0159\u00edklad 10 EUR za obchod) nebo procentu\u00e1ln\u00ed, p\u0159i\u010dem\u017e r\u016fzn\u00ed broke\u0159i nab\u00edzej\u00ed r\u016fzn\u00e9 poplatkov\u00e9 struktury a \u010dasto zv\u00fdhod\u0148uj\u00ed pravideln\u00e9 investov\u00e1n\u00ed.<\/p>\n<p>T\u0159et\u00ed v\u00fdznamnou slo\u017ekou jsou <strong>n\u00e1klady na m\u011bnov\u00e9 konverze<\/strong>, kter\u00e9 vznikaj\u00ed p\u0159i n\u00e1kupu ETF v jin\u00e9 m\u011bn\u011b a zahrnuj\u00ed jak p\u0159\u00edm\u00e9 poplatky za konverzi (obvykle 0,1-1 %), tak skryt\u00e9 n\u00e1klady v podob\u011b m\u00e9n\u011b v\u00fdhodn\u00e9ho sm\u011bnn\u00e9ho kurzu, co\u017e lze optimalizovat vyu\u017eit\u00edm v\u00edcem\u011bnov\u00fdch \u00fa\u010dt\u016f nebo volbou ETF v dom\u00e1c\u00ed m\u011bn\u011b. Posledn\u00ed slo\u017ekou jsou da\u0148ov\u00e9 aspekty, zahrnuj\u00edc\u00ed r\u016fzn\u00e9 zach\u00e1zen\u00ed s dividendami, sr\u00e1\u017ekov\u00e9 dan\u011b v zem\u00edch p\u016fvodu, mo\u017enosti optimalizace prost\u0159ednictv\u00edm volby mezi akumula\u010dn\u00edmi a distribu\u010dn\u00edmi ETF a da\u0148ov\u00e9 dopady p\u0159i prodeji ETF.<\/p>\n<h3 class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\">P\u0159\u00edklad investice 10 000 EUR vs. 1 000 EUR do stejn\u00e9ho ETF (S&amp;P 500):<\/h3>\n<p>P\u0159edstavme si modelovou situaci, kdy investor pl\u00e1nuje investovat 1000 a 10 000 EUR do ETF sleduj\u00edc\u00edho americk\u00fd akciov\u00fd index S&amp;P 500. V p\u0159\u00edkladu pou\u017e\u00edv\u00e1me brokera, kter\u00fd m\u00e1 fixn\u00ed poplatek 10 Eur za prodej i n\u00e1kup:<\/p>\n<p><strong>Investice 10 000 EUR:<\/strong><\/p>\n<ul>\n<li>TER (spr\u00e1va fondu): 0,2 % = 20 EUR<\/li>\n<li>Spread (n\u00e1kup\/prodej): 2\u00d7 0,1 % = 20 EUR<\/li>\n<li>Broker (poplatky): 2\u00d7 10 EUR = 20 EUR<\/li>\n<li>M\u011bnov\u00e1 konverze: 2\u00d7 0,3 % = 60 EUR <strong>TCO celkem: 120 EUR (1,2 %)<\/strong><\/li>\n<\/ul>\n<p><strong>Investice 1 000 EUR:<\/strong><\/p>\n<ul>\n<li>TER (spr\u00e1va fondu): 0,2 % = 2 EUR<\/li>\n<li>Spread (n\u00e1kup\/prodej): 2\u00d7 0,1 % = 2 EUR<\/li>\n<li>Broker (poplatky): 2\u00d7 10 EUR = 20 EUR (st\u00e1le stejn\u00e1 fixn\u00ed \u010d\u00e1stka!)<\/li>\n<li>M\u011bnov\u00e1 konverze: 2\u00d7 0,3 % = 6 EUR <strong>TCO celkem: 30 EUR (3 %)<\/strong><\/li>\n<\/ul>\n<div id=\"attachment_9285\" style=\"width: 883px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf.png\"><img alt=\"\" loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9285\" class=\"wp-image-9285 size-full\" title=\"Porovn\u00e1n\u00ed TCO pro r\u016fzn\u00e9 velikosti investic\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf.png\" alt=\"\" width=\"883\" height=\"529\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf.png 883w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf-150x90.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf-768x460.png 768w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf-67x40.png 67w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf-53x32.png 53w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf-134x80.png 134w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/jak-optimalizovat-naklady-do-etf-225x135.png 225w\" sizes=\"auto, (max-width: 883px) 100vw, 883px\" \/><\/a><p id=\"caption-attachment-9285\" class=\"wp-caption-text\">Porovn\u00e1n\u00ed TCO pro r\u016fzn\u00e9 velikosti investic<\/p><\/div>\n\n\t<div class=\"space-shortcode-wrap space-shortcode-4 relative\">\n\t\t<div class=\"space-shortcode-wrap-ins relative\">\n\n\t\t\t\t\t\t<div class=\"space-block-title relative\">\n\t\t\t\t<span>Broke\u0159i s 0% poplatky za n\u00e1kup i prodej ETF <\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"space-organizations-3-archive-items box-100 relative\">\n\n\t\t\t\t\n\t\t\t\t<div class=\"space-organizations-3-archive-item box-100 relative\">\n\t\t\t\t\t<div class=\"space-organizations-3-archive-item-ins relative\">\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"180\" height=\"72\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb.png\" class=\"attachment-mercury-9999-80 size-mercury-9999-80\" alt=\"XTB\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb.png 180w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-150x60.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-100x40.png 100w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-80x32.png 80w\" sizes=\"auto, (max-width: 180px) 100vw, 180px\" \/>\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-count absolute\">\n\t\t\t\t\t\t\t\t\t<span>1<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms-ins box-100 text-center relative\">\n\t\t\t\t\t\t\tRe\u00e1ln\u00e9 akcie a ETF. N\u00edzk\u00e9 poplatky + \u010cesk\u00e1 z\u00e1kaznick\u00e1 podpora. V\u00edce ne\u017e 8600 instrument\u016f k obchodov\u00e1n\u00ed. Denn\u00ed webin\u00e1\u0159e a zpr\u00e1vy z trh\u016f pro klienty.\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-box relative\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"star-rating\"><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-half\" aria-hidden=\"true\"><\/div><\/div>\t\t\t\t\t\t\t\t\t\t<span>4.8<\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organization-header-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"tc-apply\">Hodnocen\u00ed u\u017eivatel\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t<div class=\"tc-desc\">\n\t\t\t\t\t\t\t\t\t\t\t&nbsp;\r\n\r\n \t\u27a1\ufe0f Trustpilot hodnocen\u00ed 4.0\/5 \u2b50 \u00a0(Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 1174 hodnocen\u00ed)\r\n \t\u27a1\ufe0f Google play hodnocen\u00ed 4,4\/5 \u2b50 (Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 57 000 hodnocen\u00ed)\r\n\r\n&nbsp;\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<div class=\"space-organizations-archive-item-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t75% CFDs \u00fa\u010dt\u016f je ztr\u00e1tov\u00fdch\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/xt-cs\" title=\"Nav\u0161t\u00edvit XTB\" target=\"_blank\" rel=\"nofollow\"><i class=\"fas fa-check-circle\"><\/i> Nav\u0161t\u00edvit XTB<\/a>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t<div class=\"space-organizations-3-archive-item box-100 relative\">\n\t\t\t\t\t<div class=\"space-organizations-3-archive-item-ins relative\">\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"262\" height=\"80\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-262x80.png\" class=\"attachment-mercury-9999-80 size-mercury-9999-80\" alt=\"eToro recenze\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-262x80.png 262w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-150x46.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-131x40.png 131w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-105x32.png 105w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-442x135.png 442w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-24x7.png 24w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-36x11.png 36w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-48x15.png 48w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3.png 720w\" sizes=\"auto, (max-width: 262px) 100vw, 262px\" \/>\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-count absolute\">\n\t\t\t\t\t\t\t\t\t<span>2<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms-ins box-100 text-center relative\">\n\t\t\t\t\t\t\tRe\u00e1ln\u00e9 akcie a kryptom\u011bny. N\u00edzk\u00fd minim\u00e1ln\u00ed vklad 50 USD.\r\nMo\u017enost kop\u00edrov\u00e1n\u00ed obchod\u016f. Denn\u00ed webin\u00e1\u0159e a zpr\u00e1vy z trh\u016f pro klienty.\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-box relative\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"star-rating\"><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-half\" aria-hidden=\"true\"><\/div><\/div>\t\t\t\t\t\t\t\t\t\t<span>4.5<\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organization-header-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"tc-apply\">Hodnocen\u00ed u\u017eivatel\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t<div class=\"tc-desc\">\n\t\t\t\t\t\t\t\t\t\t\t&nbsp;\r\n\r\n \t\u27a1\ufe0f Trustpilot hodnocen\u00ed 4,4\/5 \u2b50 \u00a0(Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 20 891 hodnocen\u00ed)\r\n \t\u27a1\ufe0f Google play hodnocen\u00ed 4,2\/5 \u2b50 (Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 110 000 hodnocen\u00ed)\r\n\r\n&nbsp;\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<div class=\"space-organizations-archive-item-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t52% CFDs \u00fa\u010dt\u016f retailov\u00fdch je ztr\u00e1tov\u00fdch\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/ecns\" title=\"Nav\u0161t\u00edvit eToro\" target=\"_blank\" rel=\"nofollow\"><i class=\"fas fa-check-circle\"><\/i> Nav\u0161t\u00edvit eToro<\/a>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/div>\n\n\n<p>U men\u0161\u00edch investic je procentu\u00e1ln\u00ed dopad TCO v\u00fdrazn\u011b vy\u0161\u0161\u00ed <strong>kv\u016fli fixn\u00edm poplatk\u016fm<\/strong> (zejm\u00e9na brokersk\u00fdm), kter\u00e9 z\u016fst\u00e1vaj\u00ed stejn\u00e9 bez ohledu na velikost investice. Proto je p\u0159i investov\u00e1n\u00ed men\u0161\u00edch \u010d\u00e1stek do ETF d\u016fle\u017eit\u00e9 <strong>vyu\u017e\u00edvat brokery s n\u00edzk\u00fdmi nebo nulov\u00fdmi poplatky<\/strong>, zv\u00e1\u017eit pravideln\u00e9 investov\u00e1n\u00ed se zv\u00fdhodn\u011bn\u00fdmi podm\u00ednkami, nebo p\u0159\u00edpadn\u011b nashrom\u00e1\u017edit v\u011bt\u0161\u00ed \u010d\u00e1stku p\u0159ed proveden\u00edm jednor\u00e1zov\u00e9 investice.<\/p>\n<h2>Z\u00e1v\u011br a shrnut\u00ed<\/h2>\n<p>P\u0159i v\u00fdb\u011bru ETF je kl\u00ed\u010dov\u00e9 zohlednit v\u0161echny n\u00e1kladov\u00e9 slo\u017eky, nejen z\u00e1kladn\u00ed TER. U kr\u00e1tkodob\u00e9ho investov\u00e1n\u00ed (do 1 roku) maj\u00ed nejv\u011bt\u0161\u00ed dopad jednor\u00e1zov\u00e9 n\u00e1klady jako spread a brokersk\u00e9 poplatky, zat\u00edmco u dlouhodob\u00e9ho horizontu (5+ let) hraje hlavn\u00ed roli TER, proto\u017ee <strong>jednor\u00e1zov\u00e9 n\u00e1klady se rozprost\u0159ou v \u010dase<\/strong>.<\/p>\n<p>Pro pravideln\u00e9 investov\u00e1n\u00ed men\u0161\u00edch \u010d\u00e1stek je vhodn\u00e9 vyu\u017e\u00edvat brokery bez poplatk\u016f z\u00e1 n\u00e1kup a prodej ETF, zat\u00edmco u jednor\u00e1zov\u00fdch v\u011bt\u0161\u00edch investic se vyplat\u00ed zam\u011b\u0159it na n\u00edzk\u00fd TER. Informace o jednotliv\u00fdch n\u00e1kladech lze naj\u00edt v dokumentu KIID, na webov\u00fdch str\u00e1nk\u00e1ch poskytovatel\u016f ETF, ve factsheetech fond\u016f a v cen\u00edc\u00edch broker\u016f.<\/p>\n<style>\n\t\t#faqsu-faq-list {\n\t\t\tbackground: #F0F4F8;\n\t\t\tborder-radius: 5px;\n\t\t\tpadding: 15px;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-single {\n\t\t\tbackground: #fff;\n\t\t\tpadding: 15px 15px 20px;\n\t\t\tbox-shadow: 0px 0px 10px #d1d8dd, 0px 0px 40px #ffffff;\n\t\t\tborder-radius: 5px;\n\t\t\tmargin-bottom: 1rem;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-single:last-child {\n\t\t\tmargin-bottom: 0;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-question {\n\t\t\tborder-bottom: 1px solid #F0F4F8;\n\t\t\tpadding-bottom: 0.825rem;\n\t\t\tmargin-bottom: 0.825rem;\n\t\t\tposition: relative;\n\t\t\tpadding-right: 40px;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-question:after {\n\t\t\tcontent: \"?\";\n\t\t\tposition: absolute;\n\t\t\tright: 0;\n\t\t\ttop: 0;\n\t\t\twidth: 30px;\n\t\t\tline-height: 30px;\n\t\t\ttext-align: center;\n\t\t\tcolor: #c6d0db;\n\t\t\tbackground: #F0F4F8;\n\t\t\tborder-radius: 40px;\n\t\t\tfont-size: 20px;\n\t\t}\n\t\t<\/style>\n\t\t\n\t\t<section id=\"faqsu-faq-list\" itemscope itemtype=\"http:\/\/schema.org\/FAQPage\"><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">Co v\u0161echno plat\u00edm u ETF?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">Krom\u011b z\u00e1kladn\u00edho poplatku za spr\u00e1vu (TER) 0,1-0,7 % ro\u010dn\u011b zaplat\u00edte tak\u00e9 spread p\u0159i n\u00e1kupu a prodeji, poplatek brokerovi a p\u0159\u00edpadn\u011b n\u00e1klady na m\u011bnovou konverzi. Celkov\u00e9 n\u00e1klady (TCO) tak mohou b\u00fdt 2-3\u00d7 vy\u0161\u0161\u00ed ne\u017e samotn\u00fd TER.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">U mal\u00e9 investice do ETF se mi to vyplat\u00ed?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">U mal\u00fdch investic (nap\u0159. 1000 EUR) nejv\u00edce \u0161kod\u00ed fixn\u00ed poplatky brokerovi. Proto vyberte brokera bez poplatk\u016f za n\u00e1kup, ETF v dom\u00e1c\u00ed m\u011bn\u011b a zva\u017ete pravideln\u00e9 investov\u00e1n\u00ed se zv\u00fdhodn\u011bn\u00fdmi podm\u00ednkami. S t\u011bmito kroky se i mal\u00e1 investice m\u016f\u017ee vyplatit.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">Kde najdu skute\u010dn\u00e9 n\u00e1klady ETF?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">TER najdete v dokumentu KIID, spread v obchodn\u00ed platform\u011b a poplatky v cen\u00edku brokera. Pro rychl\u00e9 srovn\u00e1n\u00ed v\u0161ech n\u00e1klad\u016f r\u016fzn\u00fdch ETF pou\u017eijte specializovan\u00e9 srovn\u00e1va\u010de jako <a href=\"https:\/\/www.justetf.com\/en\/\">justetf.com<\/a>.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<p>Burzovn\u011b obchodovan\u00e9 fondy (ETF) se staly jedn\u00edm z nejobl\u00edben\u011bj\u0161\u00edch investi\u010dn\u00edch n\u00e1stroj\u016f pro dlouhodob\u00e9 investory. Jejich popularita pramen\u00ed p\u0159edev\u0161\u00edm z ni\u017e\u0161\u00edch n\u00e1klad\u016f ve srovn\u00e1n\u00ed s aktivn\u011b \u0159\u00edzen\u00fdmi fondy. Nicm\u00e9n\u011b i zd\u00e1nliv\u011b n\u00edzk\u00e9 n\u00e1klady mohou m\u00edt v dlouhodob\u00e9m horizontu v\u00fdznamn\u00fd dopad na celkov\u00fd v\u00fdnos investice. P\u0159edstavte si situaci, kdy investujeme 10 000 EUR na 30 let s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"Celkov\u00e9 skute\u010dn\u00e9 n\u00e1klady a poplatky za dr\u017een\u00ed ETF. Srovn\u00e1n\u00ed ukazatele n\u00e1kladovosti (TER) a celkov\u00fdch poplatk\u016f za dr\u017een\u00ed (TCO) p\u0159i investov\u00e1n\u00ed do ETF.","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[194],"tags":[],"class_list":["post-9283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akcie"],"modified_by":"Krpensk\u00fd Martin","_links":{"self":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/9283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/comments?post=9283"}],"version-history":[{"count":0,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/9283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media\/9286"}],"wp:attachment":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media?parent=9283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/categories?post=9283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/tags?post=9283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}