The iPath® B Bloomberg Cotton Ttl Ret ETN (BALB) is a mutual fund that tracks the performance of the Bloomberg Cotton Total Return Index. This index measures the returns of a single futures contract on cotton. The fund provides investors with exposure to the cotton market, allowing them to potentially benefit from price movements in this commodity. As an exchange-traded note (ETN), BALB offers investors a convenient and cost-effective way to invest in cotton without directly owning the physical commodity.