NBFC vs. PRAB

Last updated Aug 2, 2026

NBFC (Flexible Credit Income ETF) and PRAB (State Street IG Public & Private ABS ETF) are both Multisector Bonds funds. Both are actively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. NBFC charges 0.40%/yr vs 0.39%/yr for PRAB.

Performance

NBFC vs. PRAB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Flexible Credit Income ETF (NBFC) and State Street IG Public & Private ABS ETF (PRAB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBFC

• 1D: 0.07%
• 1M: -0.52%
• 6M: 0.65%
• YTD: 1.39%
• 1Y: 4.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.47%

PRAB

• 1D: -0.02%
• 1M: 0.08%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NBFC Flexible Credit Income ETF	$26.03K	$56.02K	$43.83K
PRAB State Street IG Public & Private ABS ETF	$4.91K	$7.76K	$91.52K

NBFC vs. PRAB - Yearly Performance Comparison

	2026 (YTD)
NBFC Flexible Credit Income ETF	1.40%
PRAB State Street IG Public & Private ABS ETF	0.99%

Correlation

The correlation between NBFC and PRAB is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 11, 2026	0.52

Return for Risk

NBFC vs. PRAB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBFC

NBFC Risk / Return Rank: 71
NBFC Sharpe Ratio Rank: 74
NBFC Sortino Ratio Rank: 80
NBFC Omega Ratio Rank: 78
NBFC Calmar Ratio Rank: 55
NBFC Martin Ratio Rank: 67

PRAB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBFC vs. PRAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Flexible Credit Income ETF (NBFC) and State Street IG Public & Private ABS ETF (PRAB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NBFC	PRAB	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.61	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	1.97	—	—
Martin ratio: Return relative to average drawdown	8.16	—	—

Drawdowns

NBFC vs. PRAB - Drawdown Comparison

The maximum NBFC drawdown since its inception was -3.99%, which is greater than PRAB's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for NBFC and PRAB.

Drawdown Indicators

	NBFC	PRAB	Difference
Max Drawdown Largest peak-to-trough decline	-3.99%	-0.48%	-3.51%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	—	—
Current Drawdown Current decline from peak	-0.66%	-0.06%	-0.60%
Average Drawdown Average peak-to-trough decline	-0.43%	-0.08%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	—	—

Volatility

Volatility by Period

	NBFC	PRAB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	1.08%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.56%	1.08%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.56%	1.08%	+2.48%

NBFC vs. PRAB - Expense Ratio Comparison

NBFC has a 0.40% expense ratio, which is higher than PRAB's 0.39% expense ratio.

Dividends

NBFC vs. PRAB - Dividend Comparison

NBFC's dividend yield for the trailing twelve months is around 7.27%, more than PRAB's 1.48% yield.

Position	TTM	2025	2024
NBFC Flexible Credit Income ETF	7.27%	7.71%	3.95%
PRAB State Street IG Public & Private ABS ETF	1.48%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBFC and PRAB in my portfolio?

NBFC and PRAB have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBFC or PRAB?

On fees, PRAB is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBFC or PRAB?

PRAB is cheaper with a 0.39% expense ratio, compared with 0.40% for NBFC.

Which ETF pays a higher dividend yield, NBFC or PRAB?

NBFC has the higher dividend yield at 7.27%, compared with 1.48% for PRAB.

What is the main difference between NBFC and PRAB?

They also come from different issuers: Neuberger and State Street. Their fees differ too: 0.40% for NBFC and 0.39% for PRAB.