"Lyxor FTSE EPRA/NAREIT Global Developed UCITS ETF - Dist (EUR)" is an exchange-traded investment fund (ETF). It refers to the FTSE EPRA/NAREIT Developed Index. This index reflects the development of European stocks . 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 Lyxor claims a total expense ratio (TER) of 0.45% per year. The yearly average divergence from the index performance (Tracking Difference) since 2011 was 0.26% per year. Therefore, the ETF was less expensive than the TER suggests.