"SPDR Bloomberg UK Gilt UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the Bloomberg UK Gilt 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 SPDR claims a total expense ratio (TER) of 0.15% per year. The yearly average divergence from the index performance (Tracking Difference) since 2013 was 0.15% per year. Therefore, the investor's costs for this ETF were exactly as specified by the TER.