"UBS ETF (LU) MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis" is an exchange-traded investment fund (ETF). It refers to the MSCI Japan SRI Low Carbon Select 5% Issuer Capped Index. This index reflects the development of only 61 Japanese stocks and is therefore not very well diversified. 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 UBS ETF claims a total expense ratio (TER) of 0.19% per year. The yearly average divergence from the index performance (Tracking Difference) since 2016 was 0.40% per year. Therefore, the ETF was more expensive than the TER suggests.