"Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D" is an exchange-traded investment fund (ETF). It refers to the Solactive EUR STR + 8.5 Daily Index. This index reflects the development of securities . The ETF replicates its index using synthetic replication, so the index performance is realized using a swap contract. The ETF's earnings are distributed to the investors. The fund company Xtrackers claims a total expense ratio (TER) of 0.10% per year. The yearly average divergence from the index performance (Tracking Difference) since 2009 was 0.11% per year. Therefore, the ETF was slightly more expensive than the TER suggests.