What is the main driver of the iShares Gold Trust's (IAU) performance?

The iShares Gold Trust (IAU) is designed to track the price of gold. Therefore, its performance is primarily driven by fluctuations in the market price of gold. Factors influencing gold prices, such as global economic conditions, inflation expectations, and geopolitical events, directly impact the Trust's Net Asset Value (NAV).

How did the Trust's assets and liabilities change during the period?

Total assets, which consist almost entirely of gold bullion at fair value, increased slightly from $28.73 billion at December 31, 2021, to $29.80 billion at June 30, 2022. Liabilities remained minimal, primarily comprising sponsor's fees payable, which were $6.25 million at June 30, 2022.

What are the main expenses for the iShares Gold Trust?

The primary expense for the iShares Gold Trust is the Sponsor's fee, which accrues daily at an annualized rate of 0.25% of the Trust's net asset value. Other administrative and operational costs are generally assumed by the Sponsor.

How does an investor buy or sell shares of the iShares Gold Trust?

Individual investors typically buy and sell shares of the iShares Gold Trust (IAU) on secondary exchanges, such as the NYSE Arca, through a brokerage account, similar to how they would trade stocks. The Trust itself issues and redeems shares in large aggregations (Baskets) only with Authorized Participants, which are typically large broker-dealers.

IAU 10-Q Quarterly Report Q2 FY2022 — Revenue, Net Income, EPS

Summary

The iShares Gold Trust (IAU) 10-Q filing for the period ending June 30, 2022, indicates a decrease in Net Asset Value (NAV) per Share, primarily driven by a decline in the price of gold. The Trust's total assets, valued at $29.8 billion, decreased slightly from the prior year-end, reflecting a decrease in the fair value of its gold bullion holdings. Despite the price dip, the Trust experienced an increase in the number of outstanding shares during the six-month period, suggesting continued investor interest and creation of new shares, although redemptions also occurred. The primary driver of the NAV decrease during the quarter was the decline in the LBMA Gold Price, which fell by 6.44%. For the six-month period, the gold price saw a smaller decrease of 0.17%, but the overall NAV performance was negatively impacted by unrealized losses on gold bullion. Investors should note that IAU is a passive investment vehicle designed to track the price of gold, meaning its performance is directly correlated with gold market fluctuations, and it incurs a sponsor's fee of 0.25% annually.

Financial Highlights

8 data points

Beta

Net Income

-$2.11B

EPS (Diluted)

$-2.41

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements

Beta

Operating Expenses	$19.45M
Operating Income	-$19.45M
Net Income	-$2.11B
EPS (Basic)	$-2.41

Key Highlights

1Net Assets decreased from $28.72 billion at December 31, 2021, to $29.80 billion at June 30, 2022, driven by a decrease in the fair value of gold bullion.
2Net Asset Value (NAV) per Share decreased from $34.62 at December 31, 2021, to $34.51 at June 30, 2022.
3For the three months ended June 30, 2022, the Trust experienced a net decrease in net assets from operations of $2.11 billion, largely due to unrealized losses on gold bullion.
4For the six months ended June 30, 2022, the Trust experienced a net increase in net assets from operations of $181.98 million, despite an unrealized loss on gold bullion.
5Shares outstanding increased from 829,750,000 at December 31, 2021, to 863,300,000 at June 30, 2022, indicating net share creations.
6The Trust's primary expense is the Sponsor's fee, which was $19.45 million for the quarter and $37.96 million for the six-month period.
7The Trust holds all its assets in gold bullion, exposing investors to significant concentration risk tied to gold price volatility.

ISHARES GOLD TRUST Quarterly Report for Q2 Ended Jun 30, 2022

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions