The yearn vaults are quite convenient vessels for passive investing, but in many cases the yields get decimated by the fees.
Most vaults have a yearly management fee of 2% and a performance fee of 20%, which really reduces the yield by a lot. Like a bare APY of 7.5% gets reduced to approximately 7.5% * 0.8 – 2% = 4%.
I’m wondering whether it’s really necessary to have this high fees. If I compare the crvSTETH yearn vault, which currently shows an APY of 4.43%, with the “pJar 0d” of [pickle.finance](https://pickle.finance), which is based on the same steth Curve pool and currently shows an APY of 6.07%, it seems fees don’t need to be as high.
Does anybody have more insight and possibly even a benchmark between pJar0d and yvCurve-stETH? What are your thoughts on Yearn and possible alternatives.