Catalyst articles comprising substantially only a palladium precious metal component and related methods of preparation and use are disclosed. Disclosed is a catalyst article comprising a first layer formed on a carrier substrate, wherein the first layer comprises a refractory metal oxide and has a surface that is substantially uniform; and a second layer formed on the first layer, wherein the second layer comprises i) an oxygen storage component that is about 50-90% by weight of the second layer and ii) a palladium component in an amount of about 10-150 g/ft3 of palladium, wherein the palladium component is substantially the only platinum group metal component. One or more improved properties are exhibited by the catalyst article.