"SPDR Bloomberg Emerging Markets Local Bond USD Base CCY Hdg to EUR UCITS ETF (Acc)" is an exchange-traded investment fund (ETF). It refers to the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index. This index reflects the development of stocks . The ETF replicates its index using physical replication with sampling, so it contains the most important securities of its reference index. The ETF's earnings (dividends) are automatically reinvested (accumulated). The fund company SPDR claims a total expense ratio (TER) of 0.60% per year. The yearly average divergence from the index performance (Tracking Difference) since 2020 was -1.45% per year. Therefore, the ETF was significantly less expensive than the TER suggests and even exceeded the index performance. However, the yearly tracking differences had strong variations, so their average value is not a very reliable measure.