VanEck Merk Gold ETF Financial Summary

Complete Filing Data

VanEck Merk Gold ETF reported Assets Net of $2.90 billion for FY2026.

All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean VanEck Merk Gold ETF did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.

Income Statement

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating Expenses$4.8M$2.6M$1.8M$1.6M$1.3M$1.0M$660.2K$563.4K$525.6K$532.6K$277.2K
Net Income Loss$1.09B$313.1M$37.9M$31.6M-$18.2M$39.3M$30.4M-$2.3M$13.7M$3.5M-$7.9M
Operating Income Loss-$1.0M-$660.2K-$563.4K-$525.6K-$532.6K-$277.2K
Income Loss From Discontinued Operations Net Of Tax$33.2M-$16.9M$39.3M
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

Quarterly (10-Q, single quarters)

Metric \ QuarterQ4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q4 2023Q3 2023Q2 2023Q4 2022Q3 2022Q2 2022Q4 2021Q3 2021Q2 2021Q4 2020Q3 2020Q2 2020Q4 2019Q3 2019Q2 2019Q4 2018Q3 2018Q2 2018Q4 2017Q3 2017Q2 2017Q4 2016Q3 2016Q2 2016Q4 2015Q3 2015Q2 2015Q4 2014Q3 2014
Operating Expenses$1.3M$1.1M$894.0K$696.0K$606.0K$516.4K$451.3K$458.8K$409.8K$380.9K$406.7K$396.6K$329.6K$303.2K$269.0K$252.8K$278.1K$215.1K$173.8K$153.1K$147.6K$136.4K$144.9K$140.4K$135.1K$128.6K$124.2K$161.5K$139.6K$97.2K$75.2K$61.3K$61.4K$57.5K$37.4K
Net Income Loss$388.0M-$4.8M$238.0M$127.9M$63.7M$97.5M$4.4M-$4.9M$20.1M-$40.2M-$56.9M$36.8M-$15.4M$14.2M-$23.6M-$17.5M$44.8M$16.5M$9.4M$16.4M-$4.8M-$723.4K-$10.4M-$3.4M$167.5K$112.5K$5.5M-$8.6M$7.9M$13.6M$2.6M-$4.4M-$4.1M-$5.7M-$186.0K
Operating Income Loss-$303.2K-$269.0K-$252.8K-$278.1K-$215.1K-$173.8K-$153.1K-$147.6K-$136.4K-$144.9K-$140.4K-$124.2K-$97.2K-$61.4K-$57.5K-$37.4K
Income Loss From Discontinued Operations Net Of Tax
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest$20.1M$36.4M

Balance Sheet

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015FY2014
Assets Net$2.90B$1.31B$780.2M$656.6M$586.2M$442.5M$198.5M$154.2M$142.2M$123.4M$161.0M$64.8M$1.3M
Unrealized Gain Loss On Investments$1.09B$312.9M$36.3M$32.0M-$18.7M$32.0M$30.3M-$2.2M$13.7M$6.2M-$7.7M
Assets$2.90B$1.33B$786.1M$660.3M$586.2M$450.0M$198.5M$154.2M$142.2M$123.4M$83.7M
Liabilities$108.0K$13.8M$5.9M$3.7M$6.00$7.5M$9.00$2.00$12.00$3.00$2.00
Accrued Liabilities Current$2.00$12.00$3.00$2.00
Retained Earnings Accumulated Deficit$1.53B$436.2M$123.1M-$85.2M
Gain Loss On Investments$1.10B$315.7M$39.7M$33.2M
Temporary Equity Accretion To Redemption Value Adjustment$31.5M$9.3M$28.5M$98.7M
Accrued Liabilities Current And Noncurrent$6.00$11.00$9.00
Management Fee Payable$6.00$252.1K$6.00$9.00
Stockholders Equity$2.90B$1.31B$780.2M
Investment Owned Percent Of Net Assets$1.00$1.00$1.00
Payable Investment Purchase$13.5M$5.9M$3.7M
Other Receivables$13.8M$4.00
Capital Shares Receivable13.8M5.9M3.7M
Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
Net Increasedecrease In Net Assets Resulting From Operations
Other Liabilities$2.00$11.00
Gold Bullion Purchased Payable$3.7M$7.2M
Cost Method Investments Realized Losses
Cost Method Investments Realized Gains
Net Increase Decrease In Net Assets Resulting From Operations
Other Notes Payable$108.0K$2.00
Gold Bullion Sold Receivable$251.7K
Capital Shares Receivableamount7.2M
Capital Shares Payable251.7K
Accounts Payable Fair Value Disclosure
Notes Payable Current
Interest Receivable$3.7M
Receivable Investment Sale$108.0K
Common Stock Share Subscribed But Unissued Subscriptions Receivable

Quarterly (10-Q, single quarters)

Metric \ QuarterQ4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q4 2021Q3 2021Q2 2021Q4 2020Q3 2020Q2 2020Q1 2020Q4 2019Q3 2019Q2 2019Q4 2018Q3 2018Q2 2018Q4 2017Q3 2017Q2 2017Q4 2016Q3 2016Q2 2016Q4 2015Q3 2015Q2 2015Q1 2015Q4 2014Q3 2014
Assets Net$2.28B$1.76B$1.66B$1.24B$1.02B$904.2M$742.6M$742.2M$712.2M$530.0M$623.2M$676.7M$565.7M$502.2M$447.6M$416.8M$369.6M$253.9M$174.5M$160.7M$144.3M$133.8M$138.7M$145.9M$134.3M$142.2M$129.5M$158.8M$108.7M$79.1M$63.0M$60.1M$56.4M$55.8M
Unrealized Gain Loss On Investments$381.8M-$4.6M$235.6M$128.3M$64.2M$98.0M$3.9M-$4.5M$19.9M-$40.1M-$58.2M$36.7M-$15.5M$13.3M-$23.6M-$18.5M$40.2M$16.5M$9.4M$16.4M-$4.9M-$574.8K-$10.4M-$3.4M$165.8K$112.5K$5.5M-$8.6M$7.9M$13.6M$2.6M-$4.4M-$3.9M-$5.7M-$186.6K
Assets$2.28B$1.76B$1.66B$1.26B$1.02B$904.2M$742.6M$742.2M$712.2M$530.0M$623.2M$676.7M$565.7M$502.2M$447.6M$416.8M$369.6M$253.9M$174.5M$160.7M$144.3M$133.8M$138.7M$145.9M$134.3M$129.7M$129.5M$161.0M$158.8M$108.7M$79.1M$63.0M$60.1M$64.8M$56.4M$55.8M
Liabilities$489.2K$374.9K$21.00$19.9M$18.00$19.00$18.00$5.00$15.00$12.00$15.00$4.00$10.00$2.00$1.00$2.00$10.00$7.00$5.00$3.00$7.00$12.00$9.00$7.00$4.00$6.00$12.00$11.00$11.00$4.00$7.00$20.6K$19.5K$18.1K
Accrued Liabilities Current$1.00$2.00$9.00$10.00$7.00$5.00$3.00$7.00$12.00$9.00$7.00$4.00$6.00$12.00$11.00$11.00$4.00$7.00$20.6K$19.5K$18.1K
Retained Earnings Accumulated Deficit$1.06B$669.4M$674.2M$412.2M$284.3M$220.6M-$104.7M-$100.3M-$105.2M
Gain Loss On Investments$389.2M-$3.7M$238.9M$128.6M$64.3M$98.0M$4.8M-$4.5M$20.5M
Temporary Equity Accretion To Redemption Value Adjustment$18.9M$2.1M$8.9M$679.6K$552.7K$309.5K$10.2M$3.9M
Accrued Liabilities Current And Noncurrent$15.00$9.00$12.00$15.00$4.00$10.00$2.00
Management Fee Payable$489.2K$374.9K$21.00$50.00$18.00$19.00
Stockholders Equity$2.28B$1.76B$1.66B$1.24B$1.02B$904.2M
Investment Owned Percent Of Net Assets$1.00$1.00$1.00$1.00$1.00$1.00
Payable Investment Purchase$19.9M
Other Receivables$489.2K$374.9K$49.00
Capital Shares Receivable19.9M
Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock$20.6K$19.5K$18.1K
Net Increasedecrease In Net Assets Resulting From Operations$4.4M-$4.9M-$40.6M-$57.3M
Other Liabilities
Gold Bullion Purchased Payable
Cost Method Investments Realized Losses-$277.4K-$216.1K-$95.0K-$37.4K
Cost Method Investments Realized Gains-$216.8K-$215.6K$8.5K$636.00
Net Increase Decrease In Net Assets Resulting From Operations$4.4M-$4.9M-$40.6M-$57.3M
Other Notes Payable
Gold Bullion Sold Receivable
Capital Shares Receivableamount
Capital Shares Payable
Accounts Payable Fair Value Disclosure$18.00$5.00$9.00
Notes Payable Current$3.7M
Interest Receivable
Receivable Investment Sale
Common Stock Share Subscribed But Unissued Subscriptions Receivable$3.7M

Cash Flow Statement

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Increase Decrease In Operating Assets-$18.2M$38.3M$29.7M-$2.9M$13.2M$2.9M-$8.2M
Increase Decrease In Inventories$137.5M$179.2M$244.5M$19.6M$19.1M$7.4M$73.8M$30.7M
Increase Decrease In Accrued Liabilities-$98.7M-$17.3M-$38.8M-$5.0M-$4.1M-$1.9M-$36.9M-$3.6M

Quarterly (10-Q, single quarters)

Metric \ QuarterQ3 2023Q2 2023Q4 2022Q3 2022Q2 2022Q4 2021Q3 2021Q2 2021Q4 2020Q3 2020Q2 2020Q4 2019Q3 2019Q2 2019Q4 2018Q3 2018Q2 2018Q4 2017Q3 2017Q2 2017Q4 2016Q3 2016Q2 2016Q4 2015Q3 2015Q2 2015Q4 2014Q3 2014
Increase Decrease In Operating Assets-$40.6M-$57.3M$36.4M-$15.8M$13.9M-$23.8M-$17.8M$44.5M$16.3M$9.2M$16.2M-$5.0M-$859.8K-$10.6M-$3.6M$32.4K-$16.1K$5.4M-$8.8M$7.7M$13.5M$2.5M-$4.4M-$4.2M-$5.8M-$223.4K
Increase Decrease In Inventories-$35.0M-$39.4M-$21.7M-$27.8M-$54.4M-$79.4M-$48.7M$29.4M$70.1M$93.8M$39.3M$4.6M$153.1K$147.6K$136.4K$3.3M$7.3M$2.6M$11.7M$3.1M$7.0M$54.8M
Increase Decrease In Accrued Liabilities-$3.9M-$74.4M-$24.0M-$366.3K-$129.6K-$7.9M-$511.2K-$5.1M-$22.6M-$161.0K-$5.0M-$4.1M-$1.9M-$110.8K-$3.6M-$652.0K-$70.3K

Per-Share & Share Counts

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015FY2014
Temporary Equity Redemption Price Per Share$18.16$15.48$12.99$13.25$12.00$11.04$11.36$13.06
Temporary Equity Shares Outstanding33.6M24.4M12.8M11.9M10.7M10.3M7.6M
Net Asset Value Per Share$46.56$27.01$19.69$18.65$17.45$18.16$15.48$12.99
Common Stock Shares Outstanding62.4M48.7M39.6M35.2M
Common Stock Shares Issued62.4M48.7M39.6M
Shares Outstanding39.6M35.2M
Shares Issued39.6M35.2M

Quarterly (10-Q, single quarters)

Metric \ QuarterQ4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021Q2 2021Q4 2020Q3 2020Q2 2020Q4 2019Q3 2019Q2 2019Q4 2018Q3 2018Q2 2018Q4 2017Q3 2017Q2 2017Q4 2016Q3 2016Q2 2016Q4 2015Q3 2015Q2 2015Q1 2015Q4 2014Q3 2014
Temporary Equity Redemption Price Per Share$19.21$18.65$15.90$17.02$18.56$17.45$17.21$17.77$17.21$18.35$19.17$16.63$14.78$13.98$12.57$11.93$12.01$12.93$12.53$12.51$12.52$12.60$13.30$12.76$11.76$11.62$12.84
Temporary Equity Shares Outstanding37.1M35.2M33.3M36.6M36.5M32.9M28.3M26.0M22.7M19.3M15.3M11.8M11.5M11.5M11.2M11.6M11.3M10.7M10.4M10.4M12.8M11.9M8.5M7.0M5.8M5.1M5.2M4.9M4.3M
Net Asset Value Per Share$38.51$31.71$31.76$26.51$23.66$22.14$19.21$19.08$19.21$15.90$17.02$18.56
Common Stock Shares Outstanding59.3M55.6M52.3M46.8M43.0M40.8M
Common Stock Shares Issued59.3M55.6M52.3M46.8M43.0M40.8M
Shares Outstanding38.7M38.9M
Shares Issued38.7M38.9M

Other Metrics

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Sponsor Fees$4.8M$2.6M$1.8M$1.6M$1.3M$1.0M$660.2K$563.4K$525.6K$532.6K$277.2K
Investment Income Net-$4.8M-$2.6M-$1.8M-$1.6M-$1.3M-$1.0M-$660.2K-$563.4K-$525.6K-$532.6K-$277.2K
Investment Owned At Fair Value$2.90B$1.31B$780.2M$586.2M$442.5M$198.5M$154.2M$142.2M$123.4M$83.7M
Additional Paid In Capital$1.37B$878.4M$657.1M-$571.4M-$532.7M-$370.7M-$165.1M-$150.5M-$135.6M-$130.0M-$93.2M
Investment Owned At Cost$1.38B$880.9M$659.4M$572.1M$533.8M$371.3M$159.3M$131.1M$92.5M
Net Realized Gain Loss From Gold Bullion Distributed For Redemptions$1.2M$1.8M$7.3M$96.6K-$148.6K$29.2K-$2.8M-$222.8K
Net Investment Income-$1.8M-$1.6M-$1.3M-$1.0M-$660.2K
Investment Company Distributable Earnings-$85.2M-$53.6M-$71.7M-$33.4M$3.7M$6.6M
Investment Owned Unrecognized Unrealized Appreciation-$2.6M-$8.9M
Net Realized Gain From Gold Bullion Distributed For The Redemptionof Shares
Realized Investment Gains Losses$12.3M$2.8M$3.4M$1.2M$1.8M
Accumulated Net Realized Gain-$3.0M-$216.8K
Accumulated Net Investment Loss$964.5K$431.8K
Stock Issued During Period Value Other$527.3M$230.6M$114.2M$137.5M
Unrealized Gain Loss On Derivatives
Net Realized Gain From Gold Bullion Distributed For Redemption
Investment In Physical Commodities Fair Value Disclosure$780.2M$656.6M$586.2M$442.5M
Stock Issued During Period Value New Issues$114.2M$137.5M$179.2M
Net Investment Income Loss
Stock Issued During Period Value Redemptions
Stock Issued During Period Value Creations
Stock Redeemed Or Called During Period Value$28.5M$98.7M$17.3M
Net Realized And Unrealized Gainloss From Operations$39.7M$33.2M-$16.9M
Net Investment Loss
Investment Owned At Costs$159.3M$145.3M

Quarterly (10-Q, single quarters)

Metric \ QuarterQ4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q4 2021Q3 2021Q2 2021Q4 2020Q3 2020Q2 2020Q4 2019Q3 2019Q2 2019Q1 2019Q4 2018Q3 2018Q2 2018Q1 2018Q4 2017Q3 2017Q2 2017Q1 2017Q4 2016Q3 2016Q2 2016Q4 2015Q3 2015Q2 2015Q1 2015Q4 2014Q3 2014Q2 2014
Sponsor Fees$1.3M$1.1M$894.0K$696.0K$606.0K$516.4K$451.3K$458.8K$409.8K$380.9K$406.7K$396.6K$329.6K$303.2K$269.0K$252.8K$278.1K$215.1K$173.8K$153.1K$147.6K$136.4K$144.9K$140.4K$135.1K$128.6K$124.2K$161.5K$139.6K$97.2K$75.2K$61.3K$61.4K$57.5K$37.4K
Investment Income Net-$1.3M-$1.1M-$894.0K-$696.0K-$606.0K-$516.4K-$451.3K-$458.8K-$409.8K-$380.9K-$406.7K-$396.6K-$329.6K-$303.2K-$269.0K-$252.8K-$278.1K-$215.1K-$173.8K-$153.1K-$147.6K-$136.4K-$144.9K-$140.4K-$135.1K-$128.6K-$124.2K-$161.5K-$139.6K-$97.2K-$75.2K-$61.3K-$61.4K-$57.5K-$37.4K
Investment Owned At Fair Value$2.28B$1.76B$1.66B$1.24B$1.02B$904.2M$712.2M$656.6M$530.0M$623.2M$676.7M$565.7M$502.2M$447.6M$416.8M$369.6M$253.9M$174.5M$160.7M$144.3M$133.8M$138.7M$145.9M$134.3M$129.7M$129.5M$161.0M$158.8M$108.7M$79.1M$63.0M$60.1M$64.8M$56.4M$55.8M$1.3M
Additional Paid In Capital$1.22B$1.09B$988.0M$829.5M$733.8M$683.6M-$637.9M-$642.0M-$606.9M-$537.9M-$590.6M-$586.7M-$519.7M-$440.4M-$399.6M$340.4M$275.4M$204.2M-$150.4M-$145.8M-$145.6M-$142.2M-$146.2M-$142.9M-$135.4M-$130.9M-$130.7M-$158.0M-$147.0M-$104.8M-$86.6M$73.0M$65.6M-$66.1M$62.4M$56.1M
Investment Owned At Cost$1.24B$1.10B$992.9M$830.4M$735.2M$685.4M$638.9M$607.8M$607.8M$539.0M$592.2M$587.5M$520.3M$441.4M$400.0M$339.5M$273.8M$198.3M$144.9M$140.4M$140.4M$145.3M$137.2M$141.5M$138.3M$131.1M$126.7M$126.7M$126.1M$157.0M$146.2M$104.0M$86.1M$72.5M$65.2M$65.9M$62.3M$56.0M
Net Realized Gain Loss From Gold Bullion Distributed For Redemptions$609.4K-$141.2K$1.3M$54.4K$11.9K$859.9K$50.0K$993.9K$4.6M$30.5K$96.6K-$148.6K$1.7K$27.5K$18.2K$1.4K
Net Investment Income-$451.3K-$458.8K-$409.8K-$380.9K-$406.7K-$396.6K$329.6K$303.2K-$269.0K-$252.8K
Investment Company Distributable Earnings$7.9M-$32.7M-$90.0M-$46.0M-$61.8M-$47.9M$76.5M$94.2M$49.7M$24.1M$14.9M-$1.3M-$8.4M
Investment Owned Unrecognized Unrealized Appreciation-$2.8M$7.6M$11.0M$3.1M$2.9M$2.8M$4.0M$12.6M$4.7M-$6.9M-$9.5M-$5.1M-$1.2M-$5.9M-$186.6K
Net Realized Gain From Gold Bullion Distributed For The Redemptionof Shares18.2K1.4K-1.2K-221.6K7.8K636.00
Realized Investment Gains Losses$7.4M$816.8K$3.2M$216.7K$133.4K$62.7K$935.9K$609.4K-$141.2K
Accumulated Net Realized Gain-$2.9M-$2.9M-$2.9M-$2.9M-$2.9M-$2.9M-$197.2K-$215.4K-$215.4K-$216.8K$6.0K
Accumulated Net Investment Loss$1.8M$1.6M$1.5M$1.4M$1.2M$1.1M$830.1K$668.6K$529.0K$352.6K$154.7K
Stock Issued During Period Value Other$150.1M$107.9M$118.5M$96.4M$50.8M$26.8M$6.2M
Unrealized Gain Loss On Derivatives$4.5M-$19.9M$40.1M$58.2M-$36.7M$15.5M-$13.3M
Net Realized Gain From Gold Bullion Distributed For Redemption-$609.4K$141.2K-$1.3M-$54.4K-$11.9K-$859.9K
Investment In Physical Commodities Fair Value Disclosure$742.6M$742.2M
Stock Issued During Period Value New Issues$50.8M$26.8M$35.0M$39.4M
Net Investment Income Loss-$451.3K-$458.8K-$380.9K-$406.7K
Stock Issued During Period Value Redemptions$10.2M$74.4M
Stock Issued During Period Value Creations$6.2M$21.7M
Stock Redeemed Or Called During Period Value
Net Realized And Unrealized Gainloss From Operations
Net Investment Loss-$409.8K-$396.6K
Investment Owned At Costs

Most recent annual filing with the SEC: March 27, 2026

Data sourced from SEC EDGAR public filings as of August 6, 2026.