"Amundi Govt Bond Lowest Rated EuroMTS Investment Grade UCITS ETF DR - EUR (C)" is an exchange-traded investment fund (ETF). It refers to the FTSE MTS Lowest Rated Investment Grade Government Index. This index reflects the development of government bonds . The ETF replicates its index using full physical replication, so it contains all the securities of its reference index. The ETF's earnings (interest payments) are automatically reinvested (accumulated). The fund company Amundi claims a total expense ratio (TER) of 0.14% per year. The yearly average divergence from the index performance (Tracking Difference) since 2011 was 0.23% per year. Therefore, the ETF was more expensive than the TER suggests.