"Amundi ETF MSCI EMU High Dividend UCITS ETF - EUR" is an exchange-traded investment fund (ETF). It refers to the MSCI EMU High Dividend Yield Index. This index reflects the development of European stocks with high dividend yield . 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 Amundi claims a total expense ratio (TER) of 0.30% per year. The yearly average divergence from the index performance (Tracking Difference) since 2010 was -0.15% per year. Therefore, the ETF was less expensive than the TER suggests and even exceeded the index performance.