"iShares USD Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)" is an exchange-traded investment fund (ETF). It refers to the iBoxx USD Liquid Investment Grade Interest Rate Hedged Index. This index reflects the development of North American bonds . 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 iShares claims a total expense ratio (TER) of 0.25% per year. The yearly average divergence from the index performance (Tracking Difference) since 2014 was 0.25% per year. Therefore, the investor's costs for this ETF were exactly as specified by the TER.