"SPDR S&P U.S. Financials Select Sector UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the S&P Financials Select Sector Index. This index reflects the development of only 65 US American stocks and is therefore not very well diversified. 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 automatically reinvested (accumulated). 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 2016 was -0.13% per year. Therefore, the ETF was less expensive than the TER suggests and even exceeded the index performance.