"Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist" is an exchange-traded investment fund (ETF). It refers to the S&P 500 Low Volatility High Dividend Index. This index reflects the development of US American stocks with low volatility . 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 Invesco claims a total expense ratio (TER) of 0.30% per year. The yearly average divergence from the index performance (Tracking Difference) since 2016 was -0.48% per year. Therefore, the ETF was significantly less expensive than the TER suggests and even exceeded the index performance.