Fund Description: Pacer Trendpilot 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 Trendpilot Fund of Funds ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Pacer Trendpilot Fund of Funds Index. INDEX DESCRIPTION: The Pacer Trendpilot 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 listed: Pacer Trendpilot US Large Cap ETF, Pacer Trendpilot US Mid Cap ETF, Pacer Trendpilot 100 ETF & Pacer Trendpilot International ETF. Each Trendpilot Index uses a systematic trend following strategy that directs the Trendpilot Index’s exposure to either the applicable Equity Component, 50% to the applicable Equity Component and 50% to 3‑Month US Treasury bills, or 100% to 3-Month US Treasury bills and may stay in any of its three possible positions for an extended period of time. Each Trendpilot Index will change its position based on indicators. 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 Trendpilot 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.