Pacer US Small Cap Cash Cows 100 ETF CALF Strategy

The investment seeks to track the total return performance, before fees and expenses, of the Pacer U.S. Small Cap Cash Cows Index (the "index"). The index uses an objective, rules-based methodology to provide exposure to small-capitalization U.S. companies with high free cash flow yields. Under normal circumstances, at least 80% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in U.S.-listed small-capitalization equity securities that are the component securities of the index.