"UBS ETF (LU) MSCI Europe UCITS ETF (hedged to EUR) A-acc" is an exchange-traded, Euro hedged investment fund (ETF). It refers to the MSCI Europe 100% EUR Hedged Index. This index reflects the development of European stocks . 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 automatically reinvested (accumulated). The fund company UBS ETF claims a total expense ratio (TER) of 0.13% per year. The yearly average divergence from the index performance (Tracking Difference) since 2018 was -0.08% per year. Therefore, the ETF was less expensive than the TER suggests and even exceeded the index performance.