What Is the TER?

Your ETF says "TER 0.12%". What is in that number, and what is not?

TER means total expense ratio: the fund's yearly running costs as a % of its size.

In the KID it has a longer name, "management fees and other administrative or operating costs". Here it is 0.12% too. Trading costs sit on their own line: 0.00%.

What never shows: when a fund lends its shares, the lending agent can keep part of the income. In one world ETF, 37.5% (KIID, Feb 2026).

Swap fees on swap ETFs are outside the TER as well.

Which name does your fund's fee go by?

Education, not investment advice.

Read the sheet as text

What Is the TER?
Total expense ratio: a fund's yearly running costs as a % of its size. Real numbers from two world ETFs.

On the Factsheet: one yearly %, for running the fund. 0.12%.
In the KID: the same fee, under a longer name. 0.12%.
Next to It: trading costs: the fund buying and selling. 0.00%.

The catch: lending income → 37.5% to the agent. A world ETF lends its shares. Part of that income never shows in the TER (KIID, Feb 2026).
Also outside it: swap fees on swap ETFs, the spread and your broker. The old name: OCF.

Sources (5)

State Street SPDR MSCI World UCITS ETF (Acc), IE00BFY0GT14justETF, read 2 Nov 2026: TER 0.12% p.a., securities lending yes. Named here only. Checked 2026-11-02.
KID, same fundaccurate as of 19 Feb 2026: "Management fees and other administrative or operating costs" 0.12% a year; "Transaction costs" 0.00%; no entry or exit costs, no performance fee. Checked 2026-11-02.
Key Investor Information, iShares Core MSCI World UCITS ETF, IE00B4L5Y983BlackRock, 9 Feb 2026: "ongoing charges" 0.20%, based on a fixed annualised fee, excluding portfolio trade related costs; from securities lending the fund receives 62.5% of the revenue and BlackRock, as lending agent, 37.5%; this sharing is excluded from the ongoing charges. Named here only. Checked 2026-11-02.
Swap ETFs: synthetic replication of ETFsjustETF (Dominique Riedl): "the swap fees are not included in the total expense ratio (TER)". Checked 2026-11-02.
Cost of ETFs: TER vs TCOjustETF, 7 July 2023: the TER is the yearly running costs as a share of the fund's assets and leaves out transaction costs. CESR/10-674 (2010) set the "ongoing charges" figure (OCF) for the UCITS KIID (as in "TER vs What You Really Pay"). Checked 2026-11-02.