"SPDR S&P U.S. Dividend Aristocrats EUR Hdg UCITS ETF (Dist)" is an exchange-traded investment fund (ETF). It refers to the S&P High Yield Dividend Aristocrats EUR Dynamic Hedged Index. This index reflects the development of world wide stocks with high dividend yield . 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 SPDR claims a total expense ratio (TER) of 0.40% per year. The yearly average divergence from the index performance (Tracking Difference) since 2020 was -0.30% per year. Therefore, the ETF was significantly less expensive than the TER suggests and even exceeded the index performance.