"SPDR Bloomberg EM Inflation Linked Local Bond UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the Bloomberg Emerging Markets Inflation-Linked 20% Capped 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 distributed to the investors. The fund company SPDR claims a total expense ratio (TER) of 0.55% per year. The yearly average divergence from the index performance (Tracking Difference) since 2014 was 0.77% per year. Therefore, the ETF was more expensive than the TER suggests.