ETF Evaluator:
State Street IG Public & Pri ABS ETF ()
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(as of Aug 24)
Best Performing in Securitized Bond - Diversified Over the Last Year
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ETF Details
State Street IG Public & Pri ABS ETF Overview
State Street IG Public & Pri ABS ETF (PRAB) is an actively managed Taxable Bond Securitized Bond - Diversified exchange-traded fund (ETF). State Street Investment Management launched the ETF in 2026.
The investment seeks to maximize risk-adjusted returns and provide current income.
Under normal circumstances, SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”) invests at least 80% of the fund's net assets (plus the amount of borrowings for investment purposes) in a portfolio of investment grade asset-backed securities (“ABS”), including a combination of (i) public ABS and (ii) private ABS including, but not limited to, those sourced by Apollo Global Securities, LLC (“Apollo”). It is non-diversified.
About State Street IG Public & Pri ABS ETF (PRAB)
There are 3 members of the management team with an average tenure of 0.39 years: James Palmieri (2026), Jay Ladieu (2026) and Mané Harutyunyan (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
State Street IG Public & Pri ABS ETF has 67 securities in its portfolio. The top 10 holdings constitute 27.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
State Street IG Public & Pri ABS ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. State Street IG Public & Pri ABS ETF has 2.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.3% (94.5% domestic bond, 2.9% foreign bond and 0.0% convertible bond). State Street IG Public & Pri ABS ETF has 2.7% of the portfolio in cash.
Assets Under Management
The fund has $24 million in total assets, which is below the $912 million average for the Securitized Bond - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PRAB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The State Street IG Public & Pri ABS ETF expense ratio is below average compared to funds in the Securitized Bond - Diversified category. State Street IG Public & Pri ABS ETF has an expense ratio of 0.39%, which is 6% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. State Street IG Public & Pri ABS ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 154% for the Securitized Bond - Diversified category.
Recently, in the month of July 2026, State Street IG Public & Pri ABS ETF returned 0.1%, which earned it a grade of B, as the Securitized Bond - Diversified category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
State Street IG Public & Pri ABS ETF has a trailing yield of 0.00%, which is below the 5.35% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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PRAB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PRAB Return (NAV) | 0.1% | 0.7% | na | na | na | na |
| PRAB Return (Price) | 0.2% | 0.8% | na | na | na | na |
| NAV +/- Price Return | -0.079% | -0.119% | na | na | na | na |
| Securitized Bond - Diversified Avg | -0.4% | 0.2% | 4.5% | 5.8% | 1.6% | 2.7% |
| PRAB Grade (NAV) | B | B | na | na | na | na |
| +/- Category (NAV) | 0.5% | 0.5% | na | na | na | na |
| PRAB Tax-Cost Ratio | na | na | na | na | na | na |
PRAB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PRAB Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| PRAB Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Securitized Bond - Diversified Avg | 1.1% | 7.6% | 5.1% | 6.6% | -10.6% | 1.3% | 2.9% | 5.9% | 1.6% | 3.7% | 3.0% |
| PRAB Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 25 Mil |
| Share Class Assets: | $ 25 Mil |
| Turnover: | na |
| Expense Ratio: | 0.39% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.4 years | |||
| Average Tenure: 0.4 years | |||
| Managers (Year): Palmieri James (2026), Ladieu Jay (2026), Harutyunyan Mané (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 67 |
| % in Top 10 Holdings: | 27.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 94.5% |
| Foreign Bond: | 2.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | State Street Investment Management |
| Phone Number: | 866-787-2257 |
| Website: | www.spdrs.com |
| Inception Date: | March 9, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.39% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.41% |
