PALL — abrdn Physical Palladium Shares ETF

PALL Price Performance — Growth of $10,000

Value of a $10,000 investment in PALL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

PALL Drawdown

The "underwater" chart: PALL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The abrdn Physical Palladium Shares ETF (PALL) is a commodity-focused fund issued by Aberdeen Standard Investments that currently holds $591 million in assets under management. Trading at a price of $22.91, the fund carries an expense ratio of 0.6% and offers a dividend yield of 0.00%. Within the broader market of 458 tracked ETFs, PALL holds an overall rank of #452, receiving an ETFValuer grade of F with a score of 28.4 out of 100. In its specific category of Commodities, which contains 22 ETFs tracked by ETFValuer, the fund's low asset size and low ranking suggest limited investor adoption relative to peers. The combination of a high expense ratio and zero income distribution further defines its cost and income profile for potential holders. These metrics collectively position the fund as a lower-tier option within the current ETF landscape based on the provided data.

Recent price action shows a decline of 2.18% over the last day and a 1.59% drop over the past week, indicating immediate downward pressure. Over the last month, the fund recovered to post a 3.95% gain, contrasting with a significant 14.25% loss recorded over the three-month period. The six-month return reflects a steep decline of 37.67%, while the year-to-date figure stands at -23.11%. Despite these longer-term losses, the one-year return shows a positive 2.52%, whereas the three-year annualized return is -0.37%. This pattern illustrates a divergence where short-term volatility and recent losses have not yet fully erased the modest gains seen over the past year, though the multi-year trend remains negative.

The fund is assigned a Very High volatility label, which aligns with a beta of 0.46 indicating lower sensitivity to broad market movements despite its internal instability. A Sharpe ratio of -0.05 suggests that the risk-adjusted returns have been negative, meaning the fund has not adequately compensated investors for the risk taken. This risk profile is further evidenced by a maximum drawdown of -43.20%, highlighting the potential for severe capital erosion during market downturns. The combination of very high volatility and a negative Sharpe ratio implies that the fund experiences significant price swings without generating consistent excess returns. Investors face a scenario where the fund's behavior in down markets involves substantial declines, as seen in the drawdown, while up markets have not provided sufficient compensation to offset these risks.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PALL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.97% and average daily volume is 857K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $591M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: PALL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

PALL Performance History

How PALL Compares to Other Commodities ETFs