"BNP Paribas Easy MSCI Europe ex UK ex CW UCITS ETF - C" is an exchange-traded investment fund (ETF). It refers to the MSCI Europe ex UK ex Controversial Weapons Index. This index reflects the development of European 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 automatically reinvested (accumulated). The fund company EasyETF claims a total expense ratio (TER) of 0.25% per year. The yearly average divergence from the index performance (Tracking Difference) since 2010 was -1.04% per year. Therefore, the ETF was significantly less expensive than the TER suggests and even exceeded the index performance. However, the yearly tracking differences had strong variations, so their average value is not a very reliable measure.