Mutual fund fees can eliminate thousands of dollars of your clients' returns over the years. Indeed, index funds and ETFs have used their low costs as a major part of their marketing for years. But there are some actively managed funds that have low fees too. We asked Morningstar to sort through its data to find the actively managed funds that have expense ratios less than 50 basis points, and then rank that list by three-year annualized returns. Scroll below or click here to see the top 20 from that list as a slideshow.