"Deka MSCI USA UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the MSCI USA Index. This index reflects the development of 610 US American stocks and is therefore 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 Deka ETF claims a total expense ratio (TER) of 0.30% per year. The yearly average divergence from the index performance (Tracking Difference) since 2010 was 0.39% per year. Therefore, the ETF was more expensive than the TER suggests.