"Xtrackers MSCI UK ESG UCITS ETF 1D" is an exchange-traded investment fund (ETF). It refers to the MSCI United Kingdom IMI Low Carbon SRI Leaders Select Index. This index reflects the development of British 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 Xtrackers claims a total expense ratio (TER) of 0.18% per year. The yearly average divergence from the index performance (Tracking Difference) since 2008 was 0.38% per year. Therefore, the ETF was more expensive than the TER suggests.