"iShares ATX UCITS ETF (DE)" is an exchange-traded investment fund (ETF). It refers to the ATX Index. This index reflects the development of only 20 Austrian stocks and is therefore not very well diversified. The ETF replicates its index using full physical replication, so it contains all the securities of its reference index. The ETF's earnings (dividends) are distributed to the investors. The fund company iShares claims a total expense ratio (TER) of 0.32% per year.