Fund Description: Pacer Cash Cows Fund of Funds 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 Cash Cows Fund of Funds ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Pacer Cash Cows Fund of Funds Index. INDEX DESCRIPTION: The Pacer Cash Cows Fund of Funds Index uses an objective, rules-based approach to construct a portfolio that, as of each quarterly rebalance, is composed of the ETFs: Pacer US Cash Cows Growth Index, Pacer US Cash Cows 100 Index, Pacer US Small Cap Cash Cows Index, Pacer Developed Markets International Cash Cows 100 Index and Pacer Global Cash Cows Dividend Index. FUND STRATEGY: Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the Fund of Funds Index (i.e., the Cash Cows ETFs). The Fund employs a passive management (or indexing) investment approach designed to track the total return performance of the Index. 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 in the same approximate proportion as in the Index. The Fund is considered to be non-diversified. FUND MANAGEMENT: Pacer Advisors, Inc. serves as investment adviser to the Fund.