The German banks asset-management arm is offering an expense ratio of 25 basis points on a new high-yield ETF.
The debate that has taken added urgency amid the ascent of passive funds.
Gold prices this year were up 20% and heading for their first annual gain since 2012 until Donald Trump was elected president.
President-elect Trump will likely to be "bond unfriendly" because his proposals will drive up yields by increasing national debt and stoking inflation, Gundlach predicts.
Some of the region's largest hedge-fund firms have resulted from spinoffs from global managers.