Why rank doesn't work for sparse matrices?

The following throws an error:

mat = sparse([1 0 0; 0 1 0; 0 0 1])

The error:

ERROR: MethodError: no method matching svdvals!(::SparseMatrixCSC{Float64,Int64})

Is this intentional? I did not find any open issues in Github requesting this so I’m about to create one…