Share-split context: A forward split was recorded on May 18, 2026 with coefficient 5. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

Understanding the abrdn Physical Palladium Shares ETF (PALL)

What this ETF is trying to do

The abrdn Physical Palladium Shares ETF (ticker: PALL) is an exchange-traded fund designed to track the value of palladium. Instead of buying stocks in companies, this type of ETF typically seeks to provide exposure to the physical metal itself.

What the numbers show

The performance data for PALL shows a decline in share price over several timeframes. Because this ETF does not pay distributions, the "price return" and the "total return" are the same.

Here is how the share price has performed:

• Year-to-Date (YTD): The price return is approximately -30.18%.

• One Year: The price return is approximately -17.45%.

• Three Years: The price return is approximately -4.83%.

• Five Years: The total return is approximately -44.78%.

It is also important to note that this ETF has a history of a forward split. On May 18, 2026, a forward split occurred with a coefficient of 5. In a forward split, each old share becomes multiple new shares, and the price per share falls proportionally. This change does not create a gain or a loss for the investor; it simply changes the number of shares held.

Income and distribution explanation

Based on the supplied data, PALL does not currently provide income to investors. There are no distributions detected, and the distribution yield is 0%.

NAV erosion explanation

The data shows an erosion-risk score of 55, which is labeled as "moderate price erosion." This means the market price of the shares has been declining.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. While the market price has dropped, we cannot use this information alone to prove that the Net Asset Value (NAV) itself has declined.

Pros

• The ETF provides a way to gain exposure to palladium through a single ticker on the NYSE.

• It is not a leveraged or inverse fund, meaning it does not use complex debt to multiply price movements.

Cons

• The ETF has experienced significant share-price declines over the last year and five years.

• There is no distribution or dividend income provided to investors.

• The fund shows a moderate level of price erosion risk.

Beginner takeaway

PALL is an ETF used to track the price of palladium. Investors should be aware that this fund has seen its share price decrease over various periods, including a significant drop year-to-date. Because it does not pay distributions, there is no cash income generated from holding this ETF. Always remember that past performance does not guarantee what will happen in the future.