"Lyxor S&P SmallCap 600 UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the S&P 600 Index. This index reflects the development of US American stocks with low market capitalization . 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 Amundi claims a total expense ratio (TER) of 0.35% per year. The yearly average divergence from the index performance (Tracking Difference) since 2009 was 0.25% per year. Therefore, the ETF was less expensive than the TER suggests.