Fund Description: Pacer Global Cash Cows Dividend ETF, formerly Pacer Global High Dividend ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Pacer Funds Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Pacer Global Cash Cows Dividend ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Pacer Global Cash Cows Dividend Index, formerly Pacer Global Cash Cows Dividend 100 Index. INDEX DESCRIPTION: The Pacer Global Cash Cows Dividend Index uses an objective, rules-based methodology to provide exposure to global companies with high dividend yields backed by a high free cash flow yield. The remaining companies are ranked by their free cash flow yield for the trailing twelve month period. The 300 companies with the highest free cash flow yield are then ranked by their dividend yield. The equity securities of the 100 companies with the highest dividend yield are included in the Index. The Index is reconstituted and rebalanced semi-annually on the 2nd Wednesday of June and December. FUND STRATEGY: The Fund employs a passive management (or indexing) investment approach designed to track the total return performance of the Index. Under normal circumstances, at least 80% of the Fund's total assets (exclusive of collateral held from securities lending) will be invested in the components of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities (e.g., depositary receipts). The Fund will generally use a replication strategy to achieve its investment objective, meaning it will invest in all of the component securities of the Index, but may, when the Adviser believes it is in the best interests of the Fund, use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole. The Fund may also invest up to 20% of its assets in cash and cash equivalents, other investment companies, as well as securities and other instruments not included in the Index but which the Adviser believes will help the Fund track the Index. The Fund will be considered to be non-diversified. FUND MANAGEMENT: Pacer Advisors, Inc. serves as investment adviser to the Fund.