"iShares US Mortgage Backed Securities UCITS ETF USD (Dist)" is an exchange-traded investment fund (ETF). It refers to the Bloomberg US Mortgage Backed Securities Index. This index reflects the development of stocks . The ETF replicates its index using physical replication with sampling, so it contains the most important securities of its reference index. The ETF's earnings (dividends) are distributed to the investors. The fund company iShares claims a total expense ratio (TER) of 0.28% per year. The yearly average divergence from the index performance (Tracking Difference) since 2017 was 0.33% per year. Therefore, the ETF was slightly more expensive than the TER suggests.