We analyze in detail how the interplay between electronic structure and cluster geometry determines the stability and the fragmentation channels of single Pd-doped cationic Au clusters, PdAu N −1 + (N = 2−20). For this purpose, a combination of photofragmentation experiments and density functional theory calculations was employed. A remarkable agreement between the experiment and the calculations is obtained. Pd doping is found to modify the structure of the Au clusters, in particular altering the two-dimensional to three-dimensional transition size, with direct consequences on the stability of the clusters. Analysis of the electronic density of states of the clusters shows that depending on cluster size, Pd delocalizes one 4d electron, giving an enhanced stability to PdAu 6 + , or remains with all 4d 10 electrons localized, closing an electronic shell in PdAu 9 +. Furthermore, it is observed that for most clusters, Au evaporation is the lowest-energy decay channel, although for some sizes Pd evaporation competes. In particular, PdAu 7 + and PdAu 9 + decay by Pd evaporation due to the high stability of the Au 7 + and Au 9 + fragmentation products.