"iShares USD Treasury Bond 20+yr UCITS ETF USD (Dist)" is an exchange-traded investment fund (ETF). It refers to the ICE U.S. Treasury 20+ Year Bond Index. This index reflects the development of US American bonds . The ETF replicates its index using physical replication with sampling, so it contains the most important securities of its reference index. The ETF's earnings (interest payments) are distributed to the investors. The fund company iShares claims a total expense ratio (TER) of 0.07% per year. The yearly average divergence from the index performance (Tracking Difference) since 2016 was 0.19% per year. Therefore, the ETF was more expensive than the TER suggests.