The investment seeks to provide exposure, on a total return basis, to the price performance of gold. The fund seeks to achieve its investment objective by investing primarily in a combination of (i) exchange-traded gold futures contracts and other exchange-traded or over-the-counter ("OTC") derivatives that correlate to the investment returns of physical gold, based on the notional value of such derivative instruments; and (ii) ETPs backed by or linked to physical gold, which may include the iShares Gold Trust (the "Gold Trust") ((i) and (ii) together, the "Gold Investments"). The fund is non-diversified.