"SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the FTSE EPRA/NAREIT Developed Europe ex UK Index. This index reflects the development of only 66 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 automatically reinvested (accumulated). The fund company SPDR claims a total expense ratio (TER) of 0.30% per year. The yearly average divergence from the index performance (Tracking Difference) since 2016 was 0.54% per year. Therefore, the ETF was more expensive than the TER suggests.