"Fidelity US Quality Income UCITS ETF Inc-USD" is an exchange-traded investment fund (ETF). It refers to the Fidelity US Quality Income Index. This index reflects the development of US American stocks with high dividend yield . 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 Fidelity ETF claims a total expense ratio (TER) of 0.30% per year. The yearly average divergence from the index performance (Tracking Difference) since 2018 was -0.28% per year. Therefore, the ETF was significantly less expensive than the TER suggests and even exceeded the index performance.