"iShares MSCI USA UCITS ETF USD (Acc)" 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 automatically reinvested (accumulated). The fund company iShares claims a total expense ratio (TER) of 0.07% per year. The yearly average divergence from the index performance (Tracking Difference) since 2011 was 0.02% per year. Therefore, the ETF was slightly less expensive than the TER suggests.