State Street Short Duration IG Public & Private Credit ETF
PRSD
New York Stock Exchange Arca- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 1 Iron Street Boston MA United States of America 2210
- IPO Date
- Sep 10, 2025
- Website
- ssga.com
- Similar Companies
- Business
- State Street Short Duration IG Public & Private Credit ETF (PRSD) is an actively managed exchange-traded fund that primarily allocates to investment-grade debt securities, including both public and private credit instruments such as corporate bonds, securitized loans, asset-backed finance, U.S. Treasurys, agency and non-agency residential and commercial mortgage-backed securities, asset-backed securities, collateralized debt obligations, collateralized loan obligations, preferred stock, bank loans, and foreign and emerging market debt securities; private debt securities directly originated and issued in private offerings to non-bank lenders; and other private debt instruments encompassing consumer finance, residential mortgage loans, commercial real estate, hard assets through securitized loans, and financial assets, with private credit generally comprising 10-35% of the portfolio though it may range outside this band. The fund seeks to maintain a portfolio duration between one and three years, targeting enhanced yield potential relative to short-term bond indexes and cash equivalents through active sector allocation, macroeconomic top-down analysis, and bottom-up security selection by State Street Investment Management’s Active Fixed Income Team, while providing broad diversification and risk-adjusted alpha primarily from investment-grade private credit exposures. PRSD benchmarks against the Bloomberg US Aggregate 1-3 Year Bond Index and carries a gross/net expense ratio of 0.59%, with private credit instruments sourced by Apollo Global Securities LLC, whose credit platform manages $641 billion in assets and executed $235 billion in transactions in 2024. Launched on September 9, 2025, as the second ETF in State Street Investment Management's lineup combining public and private credit—following the earlier SPDR SSGA IG Public & Private Credit ETF (PRIV)—PRSD expands the firm's short-term core bond offerings amid growing demand for semi-liquid private market access. This launch aligns with State Street's broader 2025 strategic shifts, including the June rebranding of State Street Global Advisors to State Street Investment Management to emphasize growth, client engagement, and product innovation under a unified "One State Street" approach; an April equity investment and strategic partnership with Ethic Inc. to deliver customized, values-aligned, tax-smart portfolios via separately managed accounts and unified managed accounts; and ongoing expansion into private markets, supported by prior collaborations like the sourcing agreement with Apollo. The fund operates globally from headquarters in Boston, Massachusetts, where State Street Investment Management—the asset management arm of State Street Corporation founded in 1978—manages approximately $4 trillion in assets under management across institutional and intermediary clients seeking high-quality income with limited volatility.