net income -$352.4M. VanEck Merk Gold ETF NAV falls 12.3% in quarter as gold prices drop

Filed September 8, 2026 · Period ending July 31, 2026 · Compared to 10-Q Sep 8, 2025 · ~1 min read

Key Changes

• high

  Net assets from operations swung to a loss of $352.4 million in the quarter ended July 31, 2026, from a loss of $4.8 million a year earlier, driven by a $358.6 million unrealized depreciation on gold bullion.

  MD&A: Net assets from operations verify on EDGAR →
• high

  For the six months ended July 31, 2026, NAV fell 12.59% and NAV per share fell 16.37%, versus increases of 34.13% and 17.40% in the prior-year period.

  MD&A: Six-month NAV performance verify on EDGAR →
• medium

  Shares outstanding increased by about 9.6 million over the year, reflecting net creations despite the decline in gold prices.

  Notes: Shares outstanding verify on EDGAR →