"Xtrackers Bloomberg Commodity Swap UCITS ETF 2C EUR Hedged" is an exchange-traded, Euro hedged investment fund (ETF). It refers to the Bloomberg Commodity 3 Month Forward Index. This index reflects the development of world wide commodity futures . The ETF replicates its index using synthetic replication, so the index performance is realized using a swap contract. The ETF's earnings are automatically reinvested (accumulated). The fund company Xtrackers claims a total expense ratio (TER) of 0.24% per year. The yearly average divergence from the index performance (Tracking Difference) since 2010 was 0.90% per year. Therefore, the ETF was significantly more expensive than the TER suggests.