"Amundi Japan TOPIX II UCITS ETF EUR Hedged Dist" is an exchange-traded, Euro hedged investment fund (ETF). It refers to the TOPIX Tokyo SE Hedged Index. This index reflects the development of Japanese 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 distributed to the investors. The fund company Amundi claims a total expense ratio (TER) of 0.45% per year. The yearly average divergence from the index performance (Tracking Difference) since 2014 was 1.07% per year. Therefore, the ETF was significantly more expensive than the TER suggests.