PRAB bid-ask spread and liquidity

State Street IG Public & Private ABS ETF
BondsState Street$28m net assets0.39% fee
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As of Oct 22, 2026, PRAB’s median bid-ask spread over 30 days was 0.08%, and its IQ Liquidity Score is 73, Liquid.

OverviewHoldingsDividendsTradingFlowsCompare

IQ Liquidity Score

3 of 6 measured · Oct 22, 2026
73
Liquid36th percentile of 61 bonds ETFs
0 · Hard to trade100 · Trades like a giant

The IQ Liquidity Score: a fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund trades, not whether to own it. Method →

Liquid: trades at a typical spread of 0.08%.

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Ask IQ about PRAB bid-ask spread and liquidity

Answers cite the figures on this page.

Small but liquid
Cost to trade
0.08% median spread, 30 days to Oct 22, 2026
69.9
Capacity
Not measured · its holdings are bonds, which have no volume source here
·
Price fidelity
95% of days within ±0.59% of NAV, 157 days to Oct 22, 2026
62.6
Primary market
Not measured · it first traded on 2026-03-11, and no N-CEN ETF row for series S000100417 is in the quarters read (2024q4 to 2026q3)
·
Bad-day behaviour
Premium 1.0483× normal on the 10 worst S&P 500 days, to Oct 22, 2026
96.6
Depth
Not measured · needs trade and quote data (Phase 2)
·

Cost for your order

One way, half its 30-day median spread; sizes above $10,000 are estimates
PRAB: cost for your order at each size, round trip
OrderDollarsPercentBasis
$1,000$0.400.04%spread
$10,000$4.000.04%spread

Spread 0.08% median, 30 days to Oct 22, 2026. Above $10,000 the cost adds an estimate of market impact that grows with the order against the holdings’ capacity; a patient limit pays less.

Full cost to own

At $10,000
1 year
0.74%$74
fee alone 0.39% · $39
5 years
2.30%$230
fee alone 1.95% · $195

Fee, plus the round-trip spread once, plus the median premium paid at entry. Against MYMJ (fee 0.20%): PRAB costs less to own for about 0.1 years; after that MYMJ’s lower fee makes it the cheaper fund.

Premium or discount to value

Daily, 157 days to Oct 22, 2026 · the ±1% band marked
PRAB premium or discount to NAV, 157 days+1%0−1%Mar 11, 2026Oct 22, 2026
Latest close, Oct 22
+0.61%
95% of days within
±0.59%
Days more than 1% from NAV
0 of 157
Widest
+0.77%, Oct 19, 2026

Close against the NAV its issuer struck the same day, from the issuer. Source: ETFIQ.

Capacity

What the holdings can absorb a day

Not measured: its holdings are bonds, which have no volume source here.

Creations and redemptions

By week, 33 weeks to Oct 22, 2026
Mar 11 2026Each week’s net creations (green) and redemptionsOct 22 2026

$4m net created in 2 weeks and $0 net redeemed in 0, over the 33 weeks from Mar 11, 2026 to Oct 22, 2026, from the change in its shares outstanding.

How to trade PRAB

To buy or to sell, up to $100,000
Order type
Limit: midpoint + 1¢ to buy, midpoint − 1¢ to sell.At the Oct 22 close of $24.79, that’s $24.80 to buy and $24.78 to sell.
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Watch
The premium. On 95% of days it is within ±0.59%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth.
Phase 2 · drawn now, filled when trade data arrives
Spread through the dayComing with trade data

Median spread by half hour, 30 days.

Buyers against sellersComing with trade data

Share of volume at the ask against at the bid.

Retail flow, estimatedComing with trade data

Sub-penny prints as a share of volume.

Large tradesComing with trade data

Prints above $500k, count and share.

Closing auctionComing with trade data

Share of the day’s volume at the close.

Questions people ask

Is PRAB liquid?

PRAB’s IQ Liquidity Score is 73 of 100, Liquid, the 36th percentile of 61 bonds ETFs, as of Oct 22, 2026.

What is PRAB’s bid-ask spread?

0.08% of the midpoint, the median over the 30 days to Oct 22, 2026, as its issuer states it. Half of it is about 1¢ a share at the Oct 22 close.

Does PRAB trade at a premium or discount to NAV?

It closed +0.61% from its NAV on Oct 22, 2026. On 95% of the 157 days to then it was within ±0.59%, and it closed more than 1% from NAV on 0 of them.

Who is the LMM for PRAB?

PRAB’s lead market maker (LMM) on NYSE Arca is Jane Street Capital, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026.

What does it cost to trade $10,000 of PRAB?

About $4.00 one way, 0.04%: half its 30-day median spread. In and out costs twice that. Owning $10,000 for a year costs about $74 all in, against $39 for the fee alone.

How do I place a limit order for PRAB?

Set the limit at the midpoint + 1¢ to buy, or the midpoint − 1¢ to sell, in your broker’s quote. At the Oct 22 close of $24.79, that’s $24.80 to buy and $24.78 to sell.
Sources and dates
SpreadState Street (fund page), 30-day median · to Oct 22, 2026
Premium to NAVETFIQ, close against the issuer’s NAV · Mar 11, 2026 to Oct 22, 2026
Creations and redemptionsShares outstanding, daily, from the issuer
IQ Liquidity ScoreETFIQ · Oct 22, 2026
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →PRAB fund page→
Cite this pageCitation, APA and Markdown

ETFIQ, PRAB trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/prab/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.