# Invesco Physical Palladium ETC (SPAP)

**Source:** https://fundology.uk/fund/spap · ISIN IE00B4LJS984 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 01/10/2026, SPAP (Invesco Physical Palladium ETC, ISIN IE00B4LJS984) closed at £84.99 on the London Stock Exchange. Its ongoing charge is 0.19% a year (about £19 on £10,000). Over the five years to 01/10/2026 its total return was −33.9%, or −48.4% after UK CPIH inflation.

## Summary

Invesco Physical Palladium ETC is an exchange-traded commodity (ETC) from Invesco, launched in 2011. It tracks the Disc. Palladium London PM Fix ($/ozt). You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund's value rather than billed to you.

Latest close: **£84.99** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | SPAP |
| ISIN | IE00B4LJS984 |
| Category | Gold & commodities |
| Type | ETC |
| Provider | Invesco |
| Tracks | Disc. Palladium London PM Fix ($/ozt) |
| Ongoing charge | 0.19% a year (£19 per £10,000) |
| Fund size | £16.5m |
| Launched | 2011 |
| Domicile | Ireland |

## Past returns (periods to 01/10/2026)

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

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +14.85% | +11.24% | income reinvested |
| 3 years | -6.69% | -15.80% | income reinvested |
| 5 years | -33.93% | -48.35% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Charges compared with similar funds

Ongoing charge of Invesco Physical Palladium ETC 0.19% a year, as of 02/10/2026: 120 of the 137 other gold and commodity funds charge more, 8 the same and 9 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.19%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Questions people ask

**What is the ongoing charge of SPAP?**

The ongoing charge of SPAP is 0.19% a year — about £19 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 Invesco Physical Palladium ETC 0.19% a year, as of 02/10/2026: 120 of the 137 other gold and commodity funds charge more, 8 the same and 9 less (share classes counted once).

**What does SPAP track?**

SPAP tracks the Disc. Palladium London PM Fix ($/ozt).

**What is the ISIN of SPAP?**

The ISIN of SPAP is IE00B4LJS984. An ISIN identifies one exact share class of a fund; SPAP is its ticker on the London Stock Exchange.

**How has SPAP done after inflation?**

Over the five years to 01/10/2026 SPAP’s total return was −33.9%, or −48.4% 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.