The NewGold Exchange Traded Fund (NewGold) was launched on the Johannesburg Stock Exchange (JSE) in November 2004 and was listed on The Nigerian Stock Exchange (NSE) in December 2011. NewGold tracks the price of gold and offers institutional and retail investors the opportunity to invest in a listed instrument (structured as a debenture) that New Gold ETF leads the pack: In 2019, New Gold Etf took the lead as the best performing fund with a return of 161%, having ended the year at a unit price of N5,220 from previous year end close of N2,000. New Gold ETF is about the most volatile fund in Nigeria, and its risk-reward ratio is 19.33 to 16.55. NewGold Exchange Traded Fund was launched in 2004 and is domiciled in South Africa. At the time of its launch, it was the third commodity EFT in the world and, until recently, the only commodity EFT listed on the Johannesburg Stock Exchange (JSE). It has secondary listings on stock exchanges in Botswana, Nigeria, Mauritius, Namibia and Ghana.