(This article first appeared on ETF Trends)

Goldman Sachs added a ultra-low-duration Treasury bond exchange traded fund in what may be a suitable alternative for investors seeking to park their cash.

On Thursday, Goldman Sachs launched the Goldman Sachs Treasury Access 0-1 Year ETF (NYSEArca: GBIL). GBIL comes with a 0.14% expense ratio.

“The bond trading environment has become more complicated. We wanted our first fixed-income ETF to provide investors a low cost way to obtain the credit quality and income they look for in the Treasury markets, but with greater transparency and ease of use,” Michael Crinieri, GSAM’s Global Head of ETF Strategies, said in a note.

GBIL will try to reflect the performance of the Citi US Treasury 0-1 Year Composite Select Index, which is comprised of U.S. Treasury Obligations with a maximum remaining maturity of 12 months. U.S. Treasury obligations refer to securities issued by the U.S. Treasury where payment of principal and interest is backed by the U.S. government. The fund h as an effective duration of 0.40 year.

“ETF to provide a same-day creation and redemption capability, offering the potential for faster access to liquidity,” according to Goldman Sachs. “We believe this benefit enhances the versatility of the fund, offering a wider range of potential applications for investors who may need more timely access to cash.”

Current holdings include US Govt 0.625% 15 Oct 2016 20%, US Govt 0.5% 30 Nov 2016 15.5% and US Govt 0.75% 15 Jan 2017 11.9%. It’s top ten holdings make up a large 98.1% of the overall portfolio.

The ETF is also the first to offer same-day settlement of creations and redemptions in the short-term U.S. Treasury market, according to Goldman Sachs. GBIL allows liquidity providers or so-called authorized participants to create or redeem shares and settle within hours instead of days.

“This innovation adds to the standard intraday trading ease of ETFs and can therefore broaden the range of investment applications,” according to Goldman Sachs.