State Street Short Duration IG Public & Private Credit ETF

Frequently Asked Questions About PRSD

What does PRSD invest in?

The State Street Short Duration IG Public & Private Credit ETF, identified by the ticker PRSD, is an actively managed exchange-traded fund. Its primary investment focus is short-term, investment-grade debt, encompassing both publicly traded and privately sourced credit instruments. The fund aims to generate strong risk-adjusted returns alongside consistent current income. To achieve this, PRSD actively diversifies its holdings across various high-quality debt securities, targeting a portfolio duration ranging from one to three years. Management of PRSD falls under State Street Investment Management’s Active Fixed Income Team. They employ a sophisticated investment process, integrating a macroeconomic, top-down perspective with meticulous bottom-up security analysis. This risk-aware methodology aims to construct a portfolio strategically weighted towards the most promising sectors and individual issuers. A distinctive feature of PRSD is its ability to invest in private credit instruments, with these opportunities facilitated through Apollo Global Securities LLC. While private credit holdings are typically expected to constitute 10% to 35% of the fund’s assets, this allocation can fluctuate below 10% or exceed 35% depending on market conditions and investment opportunities.

What is the expense ratio of PRSD?

State Street Short Duration IG Public & Private Credit ETF (PRSD) charges an expense ratio of 0.45%. This is the annual fee deducted from fund assets to cover management and operations.

What is PRSD's dividend yield?

PRSD's trailing-twelve-month yield is 3.32%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PRSD?

Effective duration measures PRSD's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PRSD's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PRSD?

PRSD's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PRSD?

Yield to maturity (YTM) is the total return you'd earn from PRSD if every bond in the portfolio is held to maturity at the current price. PRSD's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.