"Lyxor MSCI Pacific UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the MSCI Pacific Index. This index reflects the development of 469 Asia-Pacific stocks and is therefore relatively 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 distributed to the investors. The fund company Lyxor claims a total expense ratio (TER) of 0.45% per year. The yearly average divergence from the index performance (Tracking Difference) since 2009 was 0.37% per year. Therefore, the ETF was less expensive than the TER suggests.