Ziraat Portfoy Gold Participation ETF

Ziraat Portföy Altın Katılım Borsa Yatırım Fonu (Ziraat Portfoy Gold Participation ETF) is an exchange-traded fund set up by Ziraat Portfoy Yonetimi, whose units trade on Borsa Istanbul under the ticker ZGOLD. The fund has a participation-based structure in line with interest-free (Islamic) finance principles.

According to the fund's founder, it tracks the Ziraat Portfoy Gold Participation ETF Index by continuously investing most of its assets in the assets covered by that index. The fund's portfolio consists mainly of gold and other precious metals, along with participation-based instruments such as lease certificates (sukuk). This allows investors to gain exposure to changes in the gold price through a single instrument traded on the equity market, without storing physical gold.

With exchange-traded funds, the trading price on the exchange can at times differ from the fund's unit value (net asset value) depending on supply and demand; the unit creation and redemption mechanism helps keep this gap limited. The spot gold price per ounce and the USD/TRY exchange rate are the main drivers of ZGOLD's performance. The Lzzo.com page includes the fund's price chart, technical indicators and the option to compare it with gram gold.