Barclays iPath has rolled out a new natural gas exchange traded note to replace the less efficient iPath Bloomberg Natural Gas Subindex Total Return ETN (NYSEArca: GAZ).

The newly launched iPath Series B Bloomberg Natural Gas Subindex Total Return ETN (NYSEArca: GAZB) comes with a 0.45% expense ratio, compared to GAZ’s 0.75% expense ratio.

GAZB will try to reflect the performance of the same index as GAZ, Bloomberg Natural Gas Subindex Total Return Index, which tracks the potential returns through an unleveraged investment in natural gas futures contracts.

Natural gas traders who have have previously utilized GAZ to exposure to gas prices may opt to switch into the newly launched GAZB as cheaper and more efficient alternative.

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