Franklin Responsibly Sourced Gold ETF is an exchange-traded fund that issues shares designed to track the performance of gold bullion prices, less fund expenses. The fund holds exclusively gold bullion and cash, specifically responsibly sourced London Good Delivery gold refined after January 1, 2012, in compliance with London Bullion Market Association standards. The fund generates revenue through a 0.15% annual expense ratio fee paid to the Sponsor, who covers ordinary administrative costs and bears distribution expenses, with the fund selling gold as needed to cover these fees. Shares are traded on NYSE Arca and created and redeemed in blocks of 50,000 through Authorized Participants, which exchange physical gold bullion for shares at net asset value.