The abrdn Physical Palladium Shares is a commodity fund engaged in the business of tracking changes in the spot price of palladium. The trust does not invest in financial derivatives or corporate equities, but instead uses raised capital directly to purchase and store physical palladium bullion. The fund covers its daily management fees by selling small amounts of its metal reserves, aiming to provide the market with a securitized trading vehicle that directly reflects fluctuations in the physical palladium price.