"L&G US Energy Infrastructure MLP UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the Solactive US Energy Infrastructure MLP Index. This index reflects the development of US American stocks . The ETF replicates its index using synthetic replication, so the index performance is realized using a swap contract. The ETF's earnings (dividends) are distributed to the investors. The fund company L&G ETF claims a total expense ratio (TER) of 0.25% per year. The yearly average divergence from the index performance (Tracking Difference) since 2015 was 1.08% per year. Therefore, the ETF was significantly more expensive than the TER suggests.