"iShares SLI UCITS ETF (DE)" is an exchange-traded investment fund (ETF). It refers to the Swiss Leader Index. This index reflects the development of 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 iShares claims a total expense ratio (TER) of 0.51% per year. The yearly average divergence from the index performance (Tracking Difference) since 2009 was 1.17% per year. Therefore, the ETF was significantly more expensive than the TER suggests.