"UBS ETF (LU) MSCI EMU Socially Responsible UCITS ETF (EUR) A-dis" is an exchange-traded investment fund (ETF). It refers to the MSCI EMU SRI Low Carbon Select 5% Issuer Capped Index. This index reflects the development of only 80 European stocks and is therefore not very well diversified. The ETF replicates its index using full physical replication, so it contains all the securities of its reference index. The ETF's earnings (dividends) are distributed to the investors. The fund company UBS ETF claims a total expense ratio (TER) of 0.22% per year. The yearly average divergence from the index performance (Tracking Difference) since 2012 was -0.17% per year. Therefore, the ETF was less expensive than the TER suggests and even exceeded the index performance.