"iShares Edge MSCI Europe Size Factor UCITS ETF EUR (Acc)" is an exchange-traded investment fund (ETF). It refers to the MSCI Europe Mid Cap Equal Weighted Index. This index reflects the development of European 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 0.25% per year. The yearly average divergence from the index performance (Tracking Difference) since 2016 was -0.04% per year. Therefore, the ETF was less expensive than the TER suggests and even exceeded the index performance.