"Ossiam Europe Minimum Variance NR UCITS ETF 1C-EUR" is an exchange-traded investment fund (ETF). It refers to the iSTOXX Europe Minimum Variance Index. This index reflects the development of European stocks with low volatility . The ETF replicates its index using synthetic replication, so the index performance is realized using a swap contract. The ETF's earnings (dividends) are automatically reinvested (accumulated). The fund company Ossiam claims a total expense ratio (TER) of 0.65% per year. The yearly average divergence from the index performance (Tracking Difference) since 2012 was -0.03% 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.