If you short an ETF, who pays its MER?

Question

I don't understand how u/Cruian's comment answers the original questions in that Reddit post.

The expense ratios are taken from the fund's holdings directly, you never see the change in your account directly.

So does the borrower of the ETF pay the [Management Expense Ratio ("MER")? The lender?

If the borrower must pay the lender the dividends, is the borrower credited the MER? Or is the borrower debited the MER?

Brian Romanchuk · Answer

As the answer says, the management fee is directly taken from the fund’s assets. The only way that anyone “pays” the fees is via lower returns. There is no cash flow to pay the fee.

If you short an ETF, who pays its MER?

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