"SPDR Bloomberg 15+ Year Gilt UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the Bloomberg Capital UK Gilt 15+ Year Index. This index reflects the development of stocks . 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 SPDR claims a total expense ratio (TER) of 0.15% per year. The yearly average divergence from the index performance (Tracking Difference) since 2013 was 0.13% per year. Therefore, the ETF was slightly less expensive than the TER suggests.