"WisdomTree Europe SmallCap Dividend UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the WisdomTree Europe Small Cap Dividend Index. This index reflects the development of European stocks with high dividend yield . The ETF replicates its index using full physical replication, so it contains all the securities of its reference index. The ETF's earnings (dividends) are distributed to the investors. The fund company WisdomTree claims a total expense ratio (TER) of 0.38% per year. The yearly average divergence from the index performance (Tracking Difference) since 2015 was 0.21% per year. Therefore, the ETF was less expensive than the TER suggests.