The price of investing is falling at a record rate.

The average asset-weighted fee paid on U.S. mutual funds and ETFs declined by about 8% to 52 cents per $100 invested last year, according to a report from Morningstar. The drop was the biggest in the research firm’s data going back to 2000.

The cheapest 20% of funds, a group dominated by passive products, attracted almost $1 trillion in fresh customer cash in 2017, while the rest of the industry suffered net outflows of about $250 billion, the report found.

“The message investors are sending is crystal clear,” Morningstar analyst Patricia Oey said in a statement. “Cost counts.”

Bloomberg News