ETC · iShares
SPDM iShares Physical Palladium ETC
ISIN IE00B4556L06London Stock Exchange: SPDMBlackRock, Inc.
- Gold & commodities
- ETC
- ISA
- SIPP
- Accumulating
Latest close
LSE£25.94
on
- Ongoing charge
- 0.20% a year
- Fund size
- £40.4m
Source: TradingView, as of , at least 15 min delayed
At a glance
As of 30/09/2026, SPDM (iShares Physical Palladium ETC, ISIN IE00B4556L06) closed at £25.94 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the five years to 30/09/2026 its total return was −36.5%, or −50.3% after UK CPIH inflation.
Past returns
- 1 year to 30/09/2026
- −1.8%
- −4.9% after inflation (UK CPIH)
- 3 years to 30/09/2026
- −13.3%
- −21.8% after inflation (UK CPIH)
- 5 years to 30/09/2026
- −36.5%
- −50.3% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £635 on 30/09/2026 — about £497 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of iShares Physical Palladium ETC in pounds (price, with income reinvested in the fund): 2022 +5.6%, 2023 −41.1%, 2024 −17.7%, 2025 +87.4%; 2026 to 30/09/2026 −33.3%. Returns of iShares Physical Palladium ETC in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −5.1%; to 30/09/2025: +24.0%; to 30/09/2024: −25.5%; to 30/09/2023: −48.1%; to 30/09/2022: +37.9%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −33.3% | −35.2% | |
| +87.4% | +81.0% | ||
| −17.7% | −20.5% | ||
| −41.1% | −43.5% | ||
| +5.6% | −3.4% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −5.1% | Not available |
| from | +24.0% | +19.2% |
| from | −25.5% | −27.4% |
| from | −48.1% | −51.2% |
| from | +37.9% | +26.8% |
Source: Fundology, from recorded closes and the data vendor’s weekly price history, as of , inflation: ONS CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
41.1%over 5 years
| 1 year | 41.9% |
|---|---|
| 3 years | 39.9% |
| 5 years | 41.1% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since October 2021
- −69.5%
- From to
- Lowest 12-month return
- −53.1%
- 12 months to
- Highest 12-month return
- +87.4%
- 12 months to
- Below its highest weekly close since October 2021
- 59.6%
- High of , latest
In words: Volatility of iShares Physical Palladium ETC in pounds, annualised from weekly returns to 30/09/2026: 41.9% over 1 year, 39.9% over 3 years, 41.1% over 5 years. Largest fall in the price of iShares Physical Palladium ETC since October 2021, in pounds: −69.5% from 04/03/2022 to 09/02/2024. The lowest 12-month return of iShares Physical Palladium ETC in pounds (price, with income reinvested in the fund) since January 2021 was −53.1% (12 months to 10/11/2023); the highest was +87.4% (12 months to 26/12/2025). On 30/09/2026 the price of iShares Physical Palladium ETC was 59.6% below its highest weekly close since October 2021 (04/03/2022), in pounds.
Source: Fundology, from recorded closes and the data vendor’s weekly price history, as of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.20%
- a year
- On £10,000
- £20
- a year, roughly
- Over five years
- £100
- of £10,000, before growth
- 18 charge less
- 5 the same
- 114 charge more
Ongoing charge of iShares Physical Palladium ETC 0.20% a year, as of 01/10/2026: 114 of the 137 other gold and commodity funds charge more, 5 the same and 18 less (share classes counted once).
Source: Fund ongoing charges via TradingView, as of
A lower charge is not a promise of a higher return: what the fund holds matters more. Charges are the fund’s own published ongoing charges figure.
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
iShares Physical Palladium ETC is an exchange-traded commodity (ETC) from iShares, launched in 2011.
It tracks the London Palladium PM Fix - USD.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.2% a year — about £20 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
Gold & commodities: Gold, silver, oil and other raw materials. They pay no dividends or interest — returns come only from price changes.
Key facts
- Ticker
- SPDM
- ISIN
- IE00B4556L06
- Provider
- iShares
- Tracks
- London Palladium PM Fix - USD
- Structure
- ETC
- An exchange-traded commodity: a security backed by a commodity such as gold, traded like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.20% a year · about £20 on £10,000
- Fund size
- £40.4m
- Launched
- Domicile
- Ireland
- Can be held in
- ISA and SIPP
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Gold & commodities
Price chart
Since 27/07/2026, the closing price went from £27.74 on 27/07/2026 to £25.94 on 30/09/2026 (−6.5%). The lowest close shown was £25.94 on 30/09/2026 and the highest £29.39 on 06/08/2026.
Chart: closing prices we have recorded since 27/07/2026.
Source: TradingView, as of , at least 15 min delayed
Five years of prices, and after inflation
10 weekly closes, from 27/07/2026 to 30/09/2026. The same history in September 2026 pounds, adjusted with ONS CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 248 rolling 12-month returns since January 2021, and of 144 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since October 2021, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Questions people ask
What is the ongoing charge of SPDM?
The ongoing charge of SPDM is 0.20% a year — about £20 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 iShares Physical Palladium ETC 0.20% a year, as of 01/10/2026: 114 of the 137 other gold and commodity funds charge more, 5 the same and 18 less (share classes counted once).
What does SPDM track?
SPDM tracks the London Palladium PM Fix - USD.
Is SPDM accumulating or distributing?
SPDM is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
What is the ISIN of SPDM?
The ISIN of SPDM is IE00B4556L06. An ISIN identifies one exact share class of a fund; SPDM is its ticker on the London Stock Exchange.
What were SPDM’s returns in each of the last five years?
Calendar-year returns of SPDM in pounds (price, with income reinvested in the fund): 2022 +5.6%, 2023 −41.1%, 2024 −17.7%, 2025 +87.4%; 2026 to 30/09/2026 −33.3%. Past performance is not a guide to future returns.
How has SPDM done after inflation?
Over the five years to 30/09/2026 SPDM’s total return was −36.5%, or −50.3% after UK CPIH inflation. Past performance is not a guide to future returns.
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- 0VR3Swisscanto (CH) Gold ETF EA CHF0.40% a year · £4.4bn
- PHGPWisdomTree Physical Gold0.39% a year · £4.0bn
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Sources and dates
- Prices
- London Stock Exchange closes via TradingView, at least 15 minutes delayed, latest
- Returns
- TradingView reported returns (net asset value with income reinvested where available)
- Calendar years, risk
- Fundology, from recorded closes (weekly history from the data vendor where our record is short)
- Inflation
- ONS CPIH, latest month used August 2026
- Charges
- The fund’s ongoing charges figure, via TradingView
- Identity
- FCA Financial Instruments Reference Data System (FIRDS) and the issuer
- Fund size
- TradingView, converted to pounds at the latest ECB reference rate
Methodology:Data sourcesReturnsCategoriesAll methods
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