State Street Launches Investment-Grade Public and Private ABS ETF

State Street Investment Management has launched the State Street IG Public & Private ABS ETF (PRAB), an actively managed exchange-traded fund. This ETF provides exposure to investment-grade public and private asset-backed securities, including CLOs and mortgage-backed instruments, aiming to broaden investor access to high-quality credit market segments. The fund is designed to complement core bond allocations by offering diversified income streams and potentially higher yields.