"Market Access NYSE Arca Gold BUGS Index ETF" is an exchange-traded investment fund (ETF). It refers to the NYSE Arca Gold Bugs Index. This index reflects the development of only 21 world wide Precious Metals stocks and is therefore not very well diversified. The ETF replicates its index using synthetic replication, so the index performance is realized using a swap contract. The ETF's earnings (dividends) are automatically reinvested (accumulated). The fund company Market Access claims a total expense ratio (TER) of 0.65% per year. The yearly average divergence from the index performance (Tracking Difference) since 2008 was 0.62% per year. Therefore, the ETF was slightly less expensive than the TER suggests. However, the yearly tracking differences had strong variations, so their average value is not a very reliable measure.