Index funds: the cheapest index funds with their costs
Updated
In October 2026 the cheapest index fund by ongoing charges is 0.00%/year: Nordnet: Nordnet Suomi Indeksi. Funds that publish only a management fee are listed separately and are not ranked.
Ongoing charges of index funds
The table shows the funds whose ongoing charges the provider has published, ordered by cost. Ongoing charges include other costs besides the management fee, so only they are comparable with each other.
| Fund | Provider | Ongoing charges | Notes |
|---|---|---|---|
| Nordnet Suomi Indeksi | Nordnet | 0.00% | |
| Seligson OMX Helsinki 25 -pörssinoteerattu rahasto | Seligson & Co | 0.14% | Exchange-traded fund bought through a broker (brokerage fee paid separately). |
| Nordnet Eurooppa Indeksi | Nordnet | 0.25% | |
| Nordnet USA Indeksi | Nordnet | 0.25% | |
| Nordnet Maailma Indeksi | Nordnet | 0.30% | |
| Nordnet Kehittyvät Markkinat Indeksi | Nordnet | 0.39% | |
| Seligson Pohjois-Amerikka Indeksirahasto | Seligson & Co | 0.43% | Ongoing charges 1 October 2025 to 30 September 2026. |
| Seligson Eurooppa Indeksirahasto | Seligson & Co | 0.44% | Ongoing charges 1 October 2025 to 30 September 2026. |
| Seligson Aasia Indeksirahasto | Seligson & Co | 0.45% | Ongoing charges 1 October 2025 to 30 September 2026. |
| Seligson Suomi Indeksirahasto | Seligson & Co | 0.46% | Ongoing charges 1 October 2025 to 30 September 2026. |
| Nordnet Maailma Indeksi 125 | Nordnet | 0.49% | |
| Nordnet Teknologia Indeksi | Nordnet | 0.49% | |
| S-Pankki Passiivinen Eurooppa ESG Osake A | S-Bank | 0.50% | Figure for 2025; subscription fee 0.25%. |
| S-Pankki Passiivinen USA ESG Osake A | S-Bank | 0.50% | Figure for 2025; subscription fee 0.10%. |
Ongoing charges not published
For these funds the provider publishes only the management fee. It is a smaller figure than the ongoing charges, so the funds are not ranked or compared with the list above.
| Fund | Provider | Management fee | Notes |
|---|---|---|---|
| Nordea Pohjoismaat Indeksi Select | Nordea | 0.00% | After that 0.19%.Management fee 0% until 31 December 2027, after that 0.19%. |
| Nordea USA Indeksi Select | Nordea | 0.19% | 0.19% from 1 October 2026, previously 0.37%. |
| Danske Invest USA Indeksi W | Danske Bank | 0.25% | The W unit class belongs to the Kaupankäynti Online service, which also charges a fund fee (0.1%/year + VAT on index funds). |
| Danske Invest Index Global AC Restricted EUR W | Danske Bank | 0.30% | The W unit class belongs to the Kaupankäynti Online service, which also charges a fund fee (0.1%/year + VAT on index funds). |
| Danske Invest Index Europe Restricted EUR | Danske Bank | 0.35% | |
| Danske Invest USA Indeksi K/T | Danske Bank | 0.35% | |
| Aktia Passiivi Eurooppa | Aktia | 0.36% | |
| Aktia Passiivi Japani | Aktia | 0.36% | |
| Aktia Passiivi Kehittyvät Markkinat | Aktia | 0.36% | |
| Aktia Passiivi USA | Aktia | 0.36% | |
| Nordea Eurooppa Indeksi Select | Nordea | 0.37% | |
| Nordea Maailma Indeksi Select | Nordea | 0.37% | |
| Nordea Suomi Indeksi Select | Nordea | 0.37% | |
| OP-Aasia Indeksi | OP | 0.39% | 0.145% for an owner-customer after OP bonuses (owner-customer status requires a membership share fee). |
| OP-Amerikka Indeksi | OP | 0.39% | 0.145% for an owner-customer after OP bonuses (owner-customer status requires a membership share fee). |
| OP-Eurooppa Indeksi | OP | 0.39% | 0.145% for an owner-customer after OP bonuses (owner-customer status requires a membership share fee). |
| OP-Maailma Indeksi | OP | 0.39% | 0.145% for an owner-customer after OP bonuses (owner-customer status requires a membership share fee). |
| OP-Pohjoismaat Indeksi | OP | 0.39% | 0.145% for an owner-customer after OP bonuses (owner-customer status requires a membership share fee). |
| OP-Suomi Indeksi | OP | 0.39% | 0.145% for an owner-customer after OP bonuses (owner-customer status requires a membership share fee). |
| Danske Invest Index Global AC Restricted EUR | Danske Bank | 0.40% | |
| Evli Atlas Europe Enhanced Index | Evli | 0.65% | Enhanced index fund, management fee for private customers. |
| Evli Atlas USA Enhanced Index | Evli | 0.65% | Enhanced index fund, management fee for private customers. |
Time-limited prices
Nordea Pohjoismaat Indeksi Select 0.00% (until 31 December 2027, after that 0.19%). A time-limited price is marked in the table with a time-limited label, and it does not show the permanent cost. Also calculate the cost at the price after the period.
Seligson and other fund companies
Costs of Seligson's index funds: Seligson Pohjois-Amerikka Indeksirahasto 0.43%, Seligson Eurooppa Indeksirahasto 0.44%, Seligson Aasia Indeksirahasto 0.45%, Seligson Suomi Indeksirahasto 0.46%, Seligson OMX Helsinki 25 -pörssinoteerattu rahasto 0.14% (ongoing charges). Seligson's cheapest equity index fund (0.43%) is more expensive than the cheapest funds of Nordnet 0.00%. Only ongoing charges are compared.
- Ongoing charges include the management and custody fee and the account-keeping and bank costs but not trading costs; total expense ratio (TKA) also includes trading costs. (Seligson & Co: Rahastokatsaus 3/2026)
- Ongoing charges of Seligson's index funds for 1 October 2025 to 30 September 2026: North America 0.43%, Europe 0.44%, Asia 0.45%, Finland 0.46%; OMX Helsinki 25 exchange-traded fund 0.14%. In the index funds, a trading fee of 0.1% is paid to the fund on subscription and redemption. (Seligson & Co: Rahastokatsaus 3/2026)
- The minimum subscription for Seligson's funds is €10 directly through the fund company and €30 through LähiTapiola. (Seligson & Co: Sijoitusrahastojen hinnasto)
Subscription fees and minimum amounts
| Provider | Subscription and redemption fees | Smallest investment | Cheapest by ongoing charges |
|---|---|---|---|
| Nordnet | Fund subscription and redemption fees €0 at Nordnet. | €15.00 | 0.00% |
| OP | Subscription and redemption fees €0 for almost all OP funds for all customers (exceptions are some special investment funds). | no minimum amount | ongoing charges not published |
| Nordea | Subscription and redemption fees of Nordea funds €0 in the mobile and online bank. | €10.00 | ongoing charges not published |
| S-Bank | Most S-Bank funds have no subscription or redemption fee; passive funds have a subscription fee of 0.10-0.25%, which is paid to the fund. | €10.00 | 0.50% |
| Danske Bank | Index funds have a subscription and redemption fee of 0%; the Kaupankäynti Online service has no mutual fund subscription fees. | €10.00 | ongoing charges not published |
| Aktia | Subscription fee 1.00%, in the digital channel 0.00%; redemption fee 1.00%. | €20.00 | ongoing charges not published |
| Evli | Most Evli funds have no subscription fee (exception Evli Emerging Frontier 2%). | €50.00 | ongoing charges not published |
| Seligson & Co | No subscription fee to the fund company; in equity index funds a trading fee of 0.1% on subscription and redemption, paid to the fund. | €10.00 | 0.14% |
Index funds are not eligible for an equity savings account: read equity savings account. Also compare ETF investing and read investing for beginners. Full comparison: investment services.
How the figures were collected
The lowest cost is 0.00%. The costs of the funds were taken from the providers' fund lists and price lists, and every row is derived from the provider's own text (a structured copy of the data field ownIndexFunds). Data checked 16 October 2026.
Not investment advice. Investing involves risk. Pankkitutka compares costs and does not recommend individual investments or service providers. The value of investments can rise and fall, and you can lose the money you invest.
Frequently asked questions
What is the cheapest index fund?
In October 2026 the cheapest index fund by ongoing charges is 0.00%/year: Nordnet: Nordnet Suomi Indeksi. The cheapest ongoing charges of each provider: Nordnet 0.00%, S-Bank 0.50%, Seligson & Co 0.14%. Funds that publish only a management fee (OP, Nordea, Danske Bank, Aktia and Evli) are not part of the ranking: they are listed separately under the heading ongoing charges not published, because a management fee does not show all the costs of a fund. Not investment advice. Investing involves risk.
What does a time-limited management fee of 0% mean?
In October 2026 Time-limited price: Nordea Pohjoismaat Indeksi Select 0.00% until 31 December 2027, after that 0.19%. A time-limited price is not a permanent cost, so also calculate the cost at the price after the period.
What do ongoing charges and total costs mean?
Ongoing charges include the management and custody fee and the account-keeping and bank costs but not trading costs; total expense ratio (TKA) also includes trading costs. Ongoing charges of Seligson's index funds for 1 October 2025 to 30 September 2026: North America 0.43%, Europe 0.44%, Asia 0.45%, Finland 0.46%; OMX Helsinki 25 exchange-traded fund 0.14%. In the index funds, a trading fee of 0.1% is paid to the fund on subscription and redemption. (Seligson & Co: Rahastokatsaus 3/2026).
Where can I buy index funds without a subscription fee?
In October 2026 Nordnet: Fund subscription and redemption fees €0 at Nordnet. OP: Subscription and redemption fees €0 for almost all OP funds for all customers (exceptions are some special investment funds). Nordea: Subscription and redemption fees of Nordea funds €0 in the mobile and online bank. S-Bank: Most S-Bank funds have no subscription or redemption fee; passive funds have a subscription fee of 0.10-0.25%, which is paid to the fund. Danske Bank: Index funds have a subscription and redemption fee of 0%; the Kaupankäynti Online service has no mutual fund subscription fees. Aktia: Subscription fee 1.00%, in the digital channel 0.00%; redemption fee 1.00%. Evli: Most Evli funds have no subscription fee (exception Evli Emerging Frontier 2%). Seligson & Co: No subscription fee to the fund company; in equity index funds a trading fee of 0.1% on subscription and redemption, paid to the fund. Check the fund-specific fees in the fund company's price list.