##  [# PRIV Wins Best New U.S. Fixed Income ETF Award](/sections/bonds/priv-wins-best-new-us-fixed-income-etf-award) 

 

# PRIV Wins Best New U.S. Fixed Income ETF Award

 

 

The [**SPDR SSGA IG Public & Private Credit ETF (PRIV)**](https://www.etf.com/PRIV) won the award for Best New U.S. Fixed Income ETF at the 2026 ETF.com Awards, beating out a strong field that included the first true money market ETF, a European-style accumulating bond fund, and a novel TIPS decumulation strategy.



 

 

 

 

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[By ETF.com Staff](/contributors/etfcom-staff)

 Mar 11, 2026

 Edited by: ETF.com Staff

 

 

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## 2026 ETF.com Best New U.S. Fixed Income ETF

**Fund:** [**SPDR SSGA IG Public &amp; Private Credit ETF (PRIV)**](https://www.etf.com/PRIV)

**Issuer:** State Street

**Asset Class:** Fixed Income

**AUM:** $845M

**Expense Ratio:** 0.55%

![](/sites/default/files/inline-images/image_463.png)PRIV is the first ETF to blend public investment-grade debt with private credit, sourced through a partnership between State Street and Apollo Global Management. The fund is designed to give everyday investors access to a corner of the credit markets that has traditionally been reserved for institutions and high-net-worth clients.

The road to victory (and nearly $1 billion in assets) hasn't been glass-smooth. The fund launched amidst vigorous SEC discussion about everything from how the fund was named to how Apollo provides a liquidity backstop, all of which may have been "cart before the horse" given the fund currently holds just 5% in actual private credit, with the bulk of the portfolio in agency mortgage-backed and other public securities.

Regardless, the innovation is genuine. PRIV represents a structural breakthrough. Many pundits were skeptical that private credit — with its inherent illiquidity and bespoke pricing — could function inside the daily creation-and-redemption mechanics of an ETF. State Street took that risk, and in doing so, opened a door that the rest of the industry is now eyeing with interest.

The challenge for private assets in ETFs will always be there: how do you provide daily liquidity for assets that don't trade daily? PRIV's approach — using public credit as a liquidity buffer while gradually building private credit exposure — is one answer, even if it means the fund has looked more like a traditional bond ETF in the early going.

The runners-up in the U.S. Fixed Income category — [**TIPD**](https://www.etf.com/TIPD) (Northern Trust's inflation-linked decumulation ladder), [**SBIL**](https://www.etf.com/SBIL) (Simplify's 2a-7 compliant money market ETF), [**CPAG**](https://www.etf.com/CPAG) (F/m's accumulating aggregate bond fund), and [**LQTI**](https://www.etf.com/LQTI) (First Trust Vest's target income strategy) — each brought genuine structural innovation to the fixed income space. That PRIV prevailed in this company speaks to how much the industry wants the private credit ETF concept to work.

*All data sourced as of 03/06/26.*

*To see the full list of winners, go* [***here***](https://www.etf.com/sections/news/etfcom-announces-winners-2026-etf-awards)*.*

 
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 Related Topics  [Fixed Income](http://www.etf.com/topics/fixed-income) 

 [Private Equity](http://www.etf.com/topics/private-equity) 

 [State Street Global Advisors](http://www.etf.com/topics/state-street-global-advisors)