"Xtrackers II GBP Overnight Rate Swap UCITS ETF 1D" is an exchange-traded investment fund (ETF). It refers to the SONIA Index. This index reflects the development of 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 Xtrackers claims a total expense ratio (TER) of 0.15% per year.