With fee pressures from passive management, will sponsors adopt performance-based "fulcrum fees" asks the WSJ. Under federal rules, a mutual fund can raise fees when it outperforms if—but only if—it symmetrically lowers fees when it underperforms. That “fulcrum fee” helps put fund managers on the same side of the table as the investor. When you make more money, their fee goes up; when you make less, their fee goes down.