BlackRock’s iShares rolled out another gold ETF that comes with a more favorable tax treatment.

BlackRock recently rolled out the actively managed iShares Gold Strategy ETF (Cboe: IAUF), which has a 0.25% expense ratio.

IAUF will be managed by Greg Savage, Managing Director, Alan Mason, a Managing Director of BlackRock Advisors, and Richard Mejzak, co-head of Portfolio Management of the Americas for the Cash Management Group.

The iShares Gold Strategy ETF will try to provide exposure to the price performance of gold.

“IAUF is a transparent active ETF, but it’s not actively managed in the traditional sense, meaning IAUF will not be managed based on fundamental or technical market views,” Mark Alberici, head of iShares product innovation at BlackRock, told ETF.com.

Bloomberg Composite Gold Index

The new gold ETF is closely correlated with the Bloomberg Composite Gold Index, which is designed to track the price performance of gold. IAUF’s underlying portfolio may include exposure to iShares Gold Trust (NYSEArca: IAU), exchange traded products linked to gold, gold futures and over-the-counter derivatives.

Related: What’s Ailing Gold ETFs

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