"iShares MSCI World EUR Hedged UCITS ETF (Acc)" is an exchange-traded, Euro hedged investment fund (ETF). It refers to the MSCI World Monthly EUR Hedged Index. This index reflects the development of world wide stocks . 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 automatically reinvested (accumulated). The fund company iShares claims a total expense ratio (TER) of 0.55% per year. The yearly average divergence from the index performance (Tracking Difference) since 2011 was 0.37% per year. Therefore, the ETF was less expensive than the TER suggests.