"Vanguard FTSE Emerging Markets UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the FTSE Emerging Index. This index reflects the development of 1985 Emerging Marketsstocks and is therefore very well diversified. 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 Vanguard claims a total expense ratio (TER) of 0.22% per year. The yearly average divergence from the index performance (Tracking Difference) since 2013 was 0.29% per year. Therefore, the ETF was more expensive than the TER suggests.