"Xtrackers MSCI Europe Small Cap UCITS ETF 1C" is an exchange-traded investment fund (ETF). It refers to the MSCI Europe Small Cap Index. This index reflects the development of 1013 European stocks with low market capitalization and is therefore very well diversified. 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 Xtrackers claims a total expense ratio (TER) of 0.30% per year. The yearly average divergence from the index performance (Tracking Difference) since 2009 was 0.12% per year. Therefore, the ETF was less expensive than the TER suggests.