"SPDR S&P Global Dividend Aristocrats UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the S&P Global Dividend Aristocrats Index. This index reflects the development of only 96 world wide stocks with high dividend yield and is therefore not very well diversified. 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 SPDR claims a total expense ratio (TER) of 0.45% per year. The yearly average divergence from the index performance (Tracking Difference) since 2014 was 0.09% per year. Therefore, the ETF was less expensive than the TER suggests.