"Invesco Preferred Shares UCITS ETF EUR Hgd Dist" is an exchange-traded investment fund (ETF). It refers to the ICE BofA Diversified Core Plus Fixed Rate Preferred Securities 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 Invesco claims a total expense ratio (TER) of 0.55% per year. The yearly average divergence from the index performance (Tracking Difference) since 2019 was 1.40% per year. Therefore, the ETF was significantly more expensive than the TER suggests. Besides, the yearly tracking differences had strong variations, so their average value is not a very reliable measure.