Fund Description: Pacer Trendpilot International ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of Pacer Funds Trust, an open-end investment management company. <p> INVESTMENT OBJECTIVE: Pacer Trendpilot International ETF that seeks to track the total return performance, before fees and expenses, of the Pacer Trendpilot International Index. <p> INDEX DESCRIPTION: Pacer Trendpilot International Inde uses an objective, rules-based methodology to implement a systematic trend-following strategy that directs exposure (i) 100% to the S&P Developed Ex-U.S. LargeCap Index, (ii) 50% to the S&P Developed Ex-U.S. LargeCap Index and 50% to 3-Month US Treasury bills, or (iii) 100% to 3-Month US Treasury bills, depending on the relative performance of the S&P Developed Ex-U.S. LargeCap Index and its 200-business day historical simple moving average. The calculation of the 200-day moving average for the S&P Developed Ex-U.S. LargeCap Index is based on the total return version of the S&P Developed Ex-U.S. LargeCap Local Currency Index and reflects the reinvestment of dividends paid by the securities in the S&P Developed Ex-U.S. LargeCap Index. The Index is expected to be predominantly invested in the components of the S&P Developed Ex-U.S. LargeCap Index over most short- and long-term periods and is only expected to invest in 3-Month US Treasury bills from time to time in response to adverse market conditions <p> FUND STRATEGY: Under normal circumstances, at least 80% of the Fund’s total assets will be invested in the component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. 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’s assets may include investments denominated in non-U.S. currencies. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. At times, the Fund may have a portfolio turnover rate substantially greater than 100%. <p> FUND MANAGEMENT: Pacer Advisors, Inc. will serve as the Investment Adviser to the Fund.