"SPDR ICE BofA Emerging Markets Corporate Bond UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the ICE BofA Emerging Markets Diversified Corporate ex-144a Index. This index reflects the development of Emerging Marketsbonds . The ETF replicates its index using physical replication with sampling, so it contains the most important securities of its reference index. The ETF's earnings (interest payments) are distributed to the investors. The fund company SPDR claims a total expense ratio (TER) of 0.50% per year. The yearly average divergence from the index performance (Tracking Difference) since 2013 was 0.41% per year. Therefore, the ETF was less expensive than the TER suggests.