“Commodity ETFs are an area of the market where in our opinion, investors have been poorly served and we’re trying to change that,” he said. “We just want to offer great ETFs at low prices, it’s that simple.”

Unlike other Equity or Bond ETFs, Rhind said there is no index for gold ETFs.

“It’s just metal in a vault, and we all own the same size gold bars,” he said. “It’s not like an emerging markets ETF where you can say that one index has slightly more or less stocks in it than another index. In other words, it’s just like comparing a generic drug to a branded one. It’s the same thing so why pay more for the branded one? Investors now have to act as fiduciaries and so providing lower cost options just helps them do that.”

Related: Gold Hits 11-Month High on Latest N. Korea Tension

BAR is the third fund in the GraniteShares product suite, joining the GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and the GraniteShares S&P GSCI Commodity Broad Strategy No K-1 ETF (COMG), both of which launched in May 2017 and are also among the least expensive commodities funds available.

“We are now seeing good traction on our two flagship broad commodity ETFs: COMB and COMG,” Rhind said. “We’re continuing our low cost no K-1 range of ETFs with BAR.”

For more information on the gold market, visit our gold category.