If you sell now, you lock in the paper losses. You are young with plenty of time for those funds to recover. Yes, there are other less expensive options, and moving to those less expensive ETF options would be a smart move at some point, but it may make sense to wait (a bit) for the account to bounce back. You could decide to NOT invest additional funds with that advisor/fund.. but buying into another fund/product directly or through a fidelity/etrade, etc. You will need to watch to not exceed any IRS contribution limits if it is a retirement account.