"Vanguard FTSE Developed World UCITS ETF (USD) Accumulating" is an exchange-traded investment fund (ETF). It refers to the FTSE Developed Index. This index reflects the development of 2205 world wide stocks 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 automatically reinvested (accumulated). The fund company Vanguard claims a total expense ratio (TER) of 0.12% per year. The yearly average divergence from the index performance (Tracking Difference) since 2020 was -0.15% per year. Therefore, the ETF was less expensive than the TER suggests and even exceeded the index performance.