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PRAB

GradeCNew York Stock Exchange Arca

State Street IG Public & Private ABS ETF

Specialty Bonds · SPDR · Inception 2026-03-10

$24.75−0.10 (−0.38%)

As of Sep 23, 2026, 10:45 AM EDT

History starts Mar 11, 2026.History starts Mar 11, 2026.
Intraday session: down, 5 prints from 24.84 to 24.75. Range 24.75 to 24.84. Use the arrow keys to read each point.$24.80$24.8410 AM12 PM2 PM4 PM
Expense ratio
0.39%
Fund size
$25M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
67
Volume · 30D
0M sh
NAV per share
$24.69
52W range
low $24.79high $25.14

The ETF.net PRAB Grade

C

48/ 100

Rank 3 of 11 in Multi-Sector Securitized Bond⁠

Confidence Medium

Six-pillar profile for PRAB. Scores out of 100: Cost 50, Risk 72, Mission not scored, Tradability 28, Holdings 43, Durability 49. Strongest: Risk (72). Weakest: Tradability (28). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 48 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 50
    Category rank7/11 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 72
    Category rank2/10 · top 20%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 28
    Category rank9/11 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 43
    Category rank7/11 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 49
    Category rank8/11 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on PRAB

ETF.net Research

CAn active bond fund that shops both sides of the securitized market: publicly traded asset-backed bonds plus privately negotiated deals, inside a daily-traded ETF. State Street's push to put private credit in a 1940 Act wrapper.

Stated mandate

The fund is actively managed and primarily invests in investment-grade asset-backed securities, including public and private ABS, collateralized loan obligations, and residential and commercial mortgage-backed securities. It seeks to maximize risk-adjusted returns while providing current income.

Why people hold it

  1. 01Casts a wide net across securitized credit: public and private ABS, CLOs, and residential and commercial mortgage bonds, all investment grade.ssga.com
  2. 02Actively managed, not index-tracking. The mandate is risk-adjusted return plus current income, so the team can shift between collateral types.
  3. 03Costs 0.39% a year, a hair under the bond peer median and under active securitized rival SECU at 0.40%.
  4. 04Pays income quarterly from a compact book, on the order of 70 positions.

Worth knowing

  1. 01The private sleeve is the point and the trade-off: privately placed deals change hands less freely than public bonds and lean more on manager valuation.ssga.com
  2. 02A 2026 launch, so there is no long record showing how the strategy handles a credit squeeze.
  3. 03Still building an audience. Lighter volume in a fund this young tends to show up as wider bid/ask spreads.

PRAB Holdings

As of Sep 21, 2026, 3:46 PM
Asset class
Bonds
Holdings
67
Top-10 weight
29%
Largest holding
STATE STREET INSTL US GOV CL G8.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—STATE STREET INSTL US GOV CL G8.25%0$2M3
002—VERUS SECURITIZATION TRUST VERUS_24-INV1 6.797 03/25/20693.10%0$756K2
003—PK ALIFT LOAN FUNDING LP PKAIR_26-1 5.597 09/15/20432.77%0$675K2
004—NAVIENT STUDENT LOAN TRUST NAVSL_21-EA 0.97 12/16/20692.61%0$636K5
005—GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST GMCAR_24-1 4.86 06/18/20292.46%0$601K2
006—FORD CREDIT AUTO OWNER TRUST FORDO_23-A 5.07 01/15/20292.06%0$502K1
007—GM FINANCIAL AUTOMOBILE LEASING TRUST GMALT_24-3 4.22 10/20/20282.06%0$501K1
008—PFP LTD PFP_25-12 5.37612 12/18/20422.05%0$501K1
009—PAGAYA AI DEBT GRANTOR TRUST PAID_26-R2 6.216 02/15/20342.05%0$500K3
010—ACRES_25-FL3 6.92792 08/18/20402.05%0$500K3
011—OAKTREE ABF EQUIPMENT ST LLC OAKEF_26-1 4.5 10/17/20332.04%0$498K9
012—RCKT MORTGAGE TRUST RCKT_25-CES7 6.174 07/25/20552.04%0$497K2
013—ZAYO ISSUER LLC ZAYO_25-1 5.648 03/20/20552.03%0$496K7
014—AQUA FINANCE TRUST AQFIT_26-A 6.28 04/17/20512.02%0$494K1
015—A&D MORTGAGE TRUST ADMT_26-NQM5 6.319 07/25/20712.02%0$494K1

Showing 1–15 of 65 holdings

PRAB Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PRAB$10,082
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. PRAB $10,082. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PRAB. Periods over one year show the average yearly return.
PeriodPRAB
Year to dateFund launched this year—
1 month+0.2%
3 months+0.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PRAB
YearReturn barPRAB
2026 YTD+1.5%

History from Mar 11, 2026

PRAB in the news

ETF.net Research hasn’t filed on PRAB yet — coverage lands here as it’s written.

PRAB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.11 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 6 payments in 2026 YTD. Apr 1, 2026 $0.07; May 1, 2026 $0.10; Jun 1, 2026 $0.10; Jul 1, 2026 $0.10; Aug 3, 2026 $0.10; Sep 1, 2026 $0.11. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 4, 2026$0.11
Aug 3, 2026Aug 6, 2026$0.10
Jul 1, 2026Jul 7, 2026$0.10
Jun 1, 2026Jun 4, 2026$0.10
May 1, 2026May 6, 2026$0.10
Apr 1, 2026Apr 6, 2026$0.07

PRAB Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.02
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

PRAB Cost

Expense ratio0.39%
  • The middle half of Multi-Sector Securitized Bond funds
  • Median 0.39%

4 of the 11 Multi-Sector Securitized Bond funds charge less.

PRAB costs $39.00 a year on $10,000. The median Multi-Sector Securitized Bond fund costs $39.00.