MCOW

The Pacer S&P MidCap 400 Quality FCF Aristocrats ETF that seeks to track the total return performance, before fees and expenses, of the S&P MidCap 400 Quality FCF Aristocrats Index. The Fund employs a rules-based, "passive management" (or indexing) investment approach designed to track the total return performance, before fees and expenses, of the Index. S&P Dow Jones Indices LLC (the "Index Provider") compiles, maintains and calculates the Index, which measures the performance of companies within the S&P MidCap 400 Index (the "S&P MidCap 400") that have had positive free cash flow (FCF) for at least seven consecutive years and simultaneously have high FCF margin and high FCF return on invested capital (ROIC) relative to the other companies in the S&P MidCap 400. The initial Index universe is derived from the component companies of the S&P MidCap 400 Index. The S&P MidCap 400 is comprised of common stocks of approximately 400 mid-capitalization companies that generally represent the mid-cap segment of the U.S. equity market.