"iShares MSCI Japan Small Cap UCITS ETF USD (Dist)" is an exchange-traded investment fund (ETF). It refers to the MSCI Japan Small Cap Index. This index reflects the development of Japanese stocks with low market capitalization . 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 (dividends) are distributed to the investors. The fund company iShares claims a total expense ratio (TER) of 0.58% per year. The yearly average divergence from the index performance (Tracking Difference) since 2009 was 0.58% per year. Therefore, the investor's costs for this ETF were exactly as specified by the TER.