the years ended December 31, 2021, 2020 and 2019 Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Per Share Performance (for a Share outstanding throughout the entire period) (1) Net asset value per Share at beginning of period $ 18.14 $ 14.58 $ 12.36 Income from investment operatio Net investment loss ( 0.03 ) ( 0.03 ) ( 0.02 ) Total realized and unrealized gains or losses on investment in gold ( 0.78 ) 3.59 2.24 Change in net assets from operations ( 0.81 ) 3.56 2.22 Net asset value per Share at end of period $ 17.33 $ 18.14 $ 14.58 Weighted average number of Shares (1) 140,204,658 124,112,022 73,381,967 Expense ratio 0.17 % 0.17 % 0.17 % Net investment loss ratio ( 0.17 )% ( 0.17 )% ( 0.17 )% Total return, net asset value ( 4.47 )% 24.42 % 17.95 % (1) After