"Invesco Goldman Sachs Equity Factor Index Emerging Markets UCITS ETF (GS EFI EM ETF)" is an exchange-traded investment fund (ETF). It refers to the Goldman Sachs Equity Factor Emerging Markets Index. This index reflects the development of Emerging Marketsstocks . 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 Invesco claims a total expense ratio (TER) of 0.65% per year. The yearly average divergence from the index performance (Tracking Difference) since 2019 was 0.85% per year. Therefore, the ETF was more expensive than the TER suggests.