OOSP vs. PRAB
OOSP (Obra Opportunistic Structured Products ETF) and PRAB (State Street IG Public & Private ABS ETF) are both Multisector Bonds funds. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. OOSP charges 0.90%/yr vs 0.39%/yr for PRAB.
Performance
OOSP vs. PRAB - Performance Comparison
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Returns By Period
OOSP
- 1D
- -0.54%
- 1M
- 0.11%
- 6M
- 1.92%
- YTD
- 2.42%
- 1Y
- 6.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRAB
- 1D
- -0.06%
- 1M
- 0.10%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OOSP vs. PRAB - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
OOSP Obra Opportunistic Structured Products ETF | 1.19% |
PRAB State Street IG Public & Private ABS ETF | 0.82% |
Correlation
The correlation between OOSP and PRAB is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 11, 2026 | 0.15 |
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Return for Risk
OOSP vs. PRAB — Risk / Return Rank
OOSP
PRAB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
OOSP vs. PRAB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Obra Opportunistic Structured Products ETF (OOSP) 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.
| OOSP | PRAB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.74 | — | — |
| Martin ratioReturn relative to average drawdown | 17.40 | — | — |
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Drawdowns
OOSP vs. PRAB - Drawdown Comparison
The maximum OOSP drawdown since its inception was -1.31%, which is greater than PRAB's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for OOSP and PRAB.
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Drawdown Indicators
| OOSP | PRAB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.31% | -0.48% | -0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -1.31% | — | — |
Current DrawdownCurrent decline from peak | -0.67% | -0.12% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -0.20% | -0.08% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | — | — |
Volatility
OOSP vs. PRAB - Volatility Comparison
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Volatility by Period
| OOSP | PRAB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 1.12% | +2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.33% | 1.12% | +2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.33% | 1.12% | +2.21% |
OOSP vs. PRAB - Expense Ratio Comparison
OOSP has a 0.90% expense ratio, which is higher than PRAB's 0.39% expense ratio.
Dividends
OOSP vs. PRAB - Dividend Comparison
OOSP's dividend yield for the trailing twelve months is around 6.46%, more than PRAB's 1.49% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
OOSP Obra Opportunistic Structured Products ETF | 6.46% | 6.71% | 5.42% |
PRAB State Street IG Public & Private ABS ETF | 1.49% | 0.00% | 0.00% |
Frequently Asked Questions
OOSP and PRAB have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
PRAB is cheaper with a 0.39% expense ratio, compared with 0.90% for OOSP.
OOSP has the higher dividend yield at 6.46%, compared with 1.49% for PRAB.
They also come from different issuers: Obra and State Street. Their fees differ too: 0.90% for OOSP and 0.39% for PRAB.
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