PHYS - fund paying taxes for redemptions

[jason]

One of the biggest concerns with PHYS is that when shareholders redeem their shares for physical gold, all the shareholders have to pay taxes on any capital gains the fund had earned from the transaction (the difference in price between the price that PHYS paid for the gold and the value of the shares it was redeemed for).  Has anyone been able to find out actual figures on exactly how much these extra capital gains taxes historically have increased the overall annual expense ratio?  I'm just wondering how significant these costs typically are.  I miss GTU!!