# WisdomTree Palladium 1x Daily Short (1PAS)

**Page:** https://fundology.uk/fund/1pas · ISIN IE00B94QLR02

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, 1PAS (WisdomTree Palladium 1x Daily Short, ISIN IE00B94QLR02) closed at $11.12 on the London Stock Exchange. Its ongoing charge is 0.95% a year (about £95 on £10,000). Over the five years to 13/11/2026 its total return was −13.9%, or −32.8% after UK CPIH inflation.

## Summary

WisdomTree Palladium 1x Daily Short is an exchange-traded commodity (ETC) from WisdomTree, launched in 2013. It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.95% a year — about £95 a year on every £10,000 invested, taken from the fund's value rather than billed to you.

> **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started.

Latest close: **$11.12** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 1PAS |
| ISIN | IE00B94QLR02 |
| Category | Leveraged & inverse |
| Type | ETC |
| Provider | WisdomTree |
| Tracks | Solactive Palladium Commodity Futures SL Index - Benchmark TR Net |
| Ongoing charge | 0.95% a year (£95 per £10,000) |
| Fund size | £1.5m |
| Launched | 2013 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 30/07/2012 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +10.75% | +6.82% | income reinvested |
| 3 years | -45.30% | -50.58% | income reinvested |
| 5 years | -13.94% | -32.83% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of WisdomTree Palladium 1x Daily Short in pounds (price only; the fund pays no income): 2022 −7.4%, 2023 +34.9%, 2024 +11.8%, 2025 −55.7%; 2026 to 13/11/2026 +40.5%. Returns of WisdomTree Palladium 1x Daily Short in pounds (price only; the fund pays no income) over the 12 months to 30/09/2026: −16.0%; to 30/09/2025: −27.0%; to 30/09/2024: −0.6%; to 30/09/2023: +41.6%; to 30/09/2022: −19.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -7.4% | -15.3% | Price |
| 2023 | +34.9% | +29.5% | Price |
| 2024 | +11.8% | +8.0% | Price |
| 2025 | -55.7% | -57.2% | Price |
| 2026 to 13/11/2026 | +40.5% | +36.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 47.64% | -39.39% |
| 3 years | 44.80% | -69.60% |
| 5 years | 45.59% | -69.60% |

## Largest fall

Volatility of WisdomTree Palladium 1x Daily Short in pounds, annualised from weekly returns to 13/11/2026: 47.6% over 1 year, 44.8% over 3 years, 45.6% over 5 years. Largest fall in the price of WisdomTree Palladium 1x Daily Short since November 2021, in pounds: −69.6% from 09/02/2024 to 23/01/2026. The lowest 12-month return of WisdomTree Palladium 1x Daily Short in pounds (price only; the fund pays no income) since January 2021 was −62.3% (12 months to 27/02/2026); the highest was +81.2% (12 months to 08/12/2023). On 13/11/2026 the price of WisdomTree Palladium 1x Daily Short was 46.4% below its highest weekly close since November 2021 (09/02/2024), in pounds.

## Charges compared with similar funds

Ongoing charge of WisdomTree Palladium 1x Daily Short 0.95% a year. Compared on 14/11/2026, 160 of the 210 other leveraged and inverse products charge more, 1 the same and 49 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.95%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of 1PAS?**

The ongoing charge of 1PAS is 0.95% a year — about £95 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of WisdomTree Palladium 1x Daily Short 0.95% a year. Compared on 14/11/2026, 160 of the 210 other leveraged and inverse products charge more, 1 the same and 49 less (share classes counted once).

**What does 1PAS track?**

1PAS tracks the Solactive Palladium Commodity Futures SL Index.

**What is the ISIN of 1PAS?**

The ISIN of 1PAS is IE00B94QLR02. An ISIN identifies one exact share class of a fund; 1PAS is its ticker on the London Stock Exchange.

**What were 1PAS’s returns in each of the last five years?**

Calendar-year returns of 1PAS in pounds (price only; the fund pays no income): 2022 −7.4%, 2023 +34.9%, 2024 +11.8%, 2025 −55.7%; 2026 to 13/11/2026 +40.5%. Past performance is not a guide to future returns.

**How has 1PAS done after inflation?**

Over the five years to 13/11/2026 1PAS’s total return was −13.9%, or −32.8% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.