SCOW

Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF hat seeks to track the total return performance, before fees and expenses, of the S&P SmallCap 600 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 SmallCap 600 Index (the "S&P SmallCap 600") 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 SmallCap 600. The initial Index universe is derived from the component companies of the S&P SmallCap 600 Index. The S&P SmallCap 600 is comprised of common stocks of approximately 600 smallcapitalization companies that generally represent the small-cap segment of the U.S. equity market.