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Pacer American Energy Independence ETF

ETF
USAI
Payout Change
Pending
Price as of:
$30.7655 +0.21 +0.68%
primary theme
MLP Industry Equity
USAI (ETF)

Pacer American Energy Independence ETF

Payout Change
Pending
Price as of:
$30.7655 +0.21 +0.68%
primary theme
MLP Industry Equity
USAI (ETF)

Pacer American Energy Independence ETF

Payout Change
Pending
Price as of:
$30.7655 +0.21 +0.68%
primary theme
MLP Industry Equity

Name

As of 04/18/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Pacer American Energy Independence ETF

USAI | ETF

$30.77

$50.9 M

0.00%

0.75%

Vitals

YTD Return

8.0%

1 yr return

22.9%

3 Yr Avg Return

18.7%

5 Yr Avg Return

11.0%

Net Assets

$50.9 M

Holdings in Top 10

68.6%

52 WEEK LOW AND HIGH

$30.6
$25.13
$31.94

Expenses

OPERATING FEES

Expense Ratio 0.75%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/18/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Pacer American Energy Independence ETF

USAI | ETF

$30.77

$50.9 M

0.00%

0.75%

USAI - Profile

Distributions

  • YTD Total Return 8.0%
  • 3 Yr Annualized Total Return 18.7%
  • 5 Yr Annualized Total Return 11.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.58%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Pacer American Energy Independence ETF
  • Fund Family Name
    Pacer
  • Inception Date
    Dec 12, 2017
  • Shares Outstanding
    1550000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Mack

Fund Description

The Fund employs a “passive management” (or indexing) investment approach designed to track the total return performance, before fees and expenses, of the Index. The Index is based on a proprietary methodology developed by SL Advisors, LLC, the Fund’s Index Provider (the “Index Provider”) and the investment adviser to the Predecessor Fund (as defined below), which is not affiliated with the Fund, its distributor, or Pacer Advisors, Inc., the Fund’s investment adviser (the “Adviser”).
The Index
The Index uses a proprietary, rules-based methodology to measure the performance of a portfolio of U.S. and Canadian exchange-listed equity securities of companies that generate a majority of their cash flow from certain qualifying “midstream” energy infrastructure activities. The companies in the Index are expected to benefit from regulatory policies favoring and industry trends toward American energy independence (i.e., a reduced or eliminated need for the United States to import fuels, such as coal, crude oil, or natural gas).
Midstream energy infrastructure refers to the processing, storage, transportation, and distribution of crude oil, natural gas, refined products, and their related products, as well as the transmission or storage of renewable energy. The following activity segments are considered qualifying midstream energy infrastructure activities: gathering & processing, compression, fractionation, logistics, midstream services, pipeline transportation, storage and terminalling of oil, gas, natural gas liquids, and refined products, as well as operating liquid natural gas facilities. The following activity segments are not qualifying activities: refining, shipping, exploration, production, retail distribution, or oil services. The Index may include small-, mid-, and large-capitalization companies.
The Index includes securities across the following categories of midstream companies. Such categories and the “weight” (defined as the percentage of the total Index) assigned to each category at the time of each rebalance of the Index are as follows:
U.S. & Canadian Midstream Companies (80%) U.S.- or Canadian-listed companies that (i) have their principal place of business in the United States or Canada, (ii) elect to be treated as a corporation for U.S. or Canadian federal income tax purposes, and (iii) generate a majority of their cash flow or revenue from midstream energy infrastructure related activities.
U.S. Midstream MLPs* (20%) U.S.-listed Midstream MLPs that (i) have their principal place of business in the United States, (ii) elect to be treated as a partnership for U.S. federal income tax purposes, (iii) do not pay incentive distribution rights (“IDRs”), and (iv) are not affiliates of MLP GPs that are owned in the Index.
* If an MLP that would be included in the Index has a tracking stock that is a corporation or elects to be taxed as a corporation, then such tracking stock will be included in the Index in place of the MLP and will use the MLP’s adjusted market capitalization for calculating its weight.
MLPs are publicly traded partnerships that receive at least 90% of their income from certain qualifying sources, such as natural resource-based midstream energy infrastructure activities. The equity interests, or units, of an MLP trade on public securities exchanges exactly like the shares of a corporation, without entity level taxation. An MLP typically consists of a general partner and limited partners. The operations and management of the MLP are controlled by the general partner, and the general partner typically has an ownership stake in the MLP and may have certain preferential rights to income from the MLP, such as IDRs. IDRs provide their owner with a larger share of the aggregate cash distributions made by a company once such distributions increase to certain specified levels and are designed to provide the holder of the IDRs with a strong incentive to increase the MLP’s aggregate cash distributions. 
At the time of each quarterly rebalance of the Index, each company meeting the Index’s criteria for the above categories is included in the Index, provided that the company has a minimum market capitalization of $500 million.
The Index is rebalanced quarterly, effective on the last trading day of each calendar quarter. Within each of the above categories, Index constituents are weighted based on their free-float market capitalization (i.e., market capitalization based on the number of shares available to the public), subject to the following constraints as of the time of each rebalance. Each individual Index constituent is limited to a weight of 7.25%, and any excess weight is redistributed equally among the other companies in the same category first and then to the remaining companies as needed.
Additionally, the aggregate weight of companies with individual weights greater than 5% (“5% Companies”) may not exceed 45% as of the time of each rebalance. If the aggregate weight of the 5% Companies would exceed 45%, the excess weight will be redistributed proportionally to companies with a weight of less than 4.25%. If at the time of a rebalance a company’s weight would be between 4.25% and 5%, the company’s weight will be reduced to 4.25% and the excess redistributed to companies in the same category with a weight of less than 4.25%.
As of February 2, 2024, the Index included securities of 29 companies. The Index was developed by the Index Provider in 2017 in anticipation of the commencement of operations of the Predecessor Fund (as defined below).
The Fund’s Investment Strategy
The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. The Adviser expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better. 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 non-diversified and therefore may invest a larger percentage of its assets in the securities of a single company than diversified funds. 
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. The Index, and consequently the Fund, is expected to generally be concentrated in midstream energy infrastructure companies.
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USAI - Performance

Return Ranking - Trailing

Period USAI Return Category Return Low Category Return High Rank in Category (%)
YTD 8.0% 0.9% 14.7% 73.33%
1 Yr 22.9% -1.3% 33.9% 52.38%
3 Yr 18.7%* 4.5% 34.4% 75.25%
5 Yr 11.0%* -8.3% 33.0% 15.56%
10 Yr N/A* -6.7% 10.7% 30.30%

* Annualized

Return Ranking - Calendar

Period USAI Return Category Return Low Category Return High Rank in Category (%)
2023 8.3% -14.9% 18.2% 47.66%
2022 13.7% -7.0% 29.9% 63.46%
2021 28.8% 4.2% 55.3% 61.54%
2020 -22.2% -57.4% 155.1% 23.30%
2019 14.2% -8.9% 20.8% 9.78%

Total Return Ranking - Trailing

Period USAI Return Category Return Low Category Return High Rank in Category (%)
YTD 8.0% 0.9% 14.7% 73.33%
1 Yr 22.9% -1.3% 33.9% 52.38%
3 Yr 18.7%* 4.5% 34.4% 75.25%
5 Yr 11.0%* -8.3% 33.0% 15.56%
10 Yr N/A* -6.7% 10.7% N/A

* Annualized

Total Return Ranking - Calendar

Period USAI Return Category Return Low Category Return High Rank in Category (%)
2023 14.2% -9.3% 25.5% 57.01%
2022 20.6% -1.2% 38.8% 64.42%
2021 37.1% 11.1% 56.2% 77.88%
2020 -15.1% -53.9% 155.1% 16.50%
2019 19.9% -3.4% 34.1% 9.78%

USAI - Holdings

Concentration Analysis

USAI Category Low Category High USAI % Rank
Net Assets 50.9 M 22 M 53.1 B 94.78%
Number of Holdings 30 16 175 47.71%
Net Assets in Top 10 33.7 M 19.6 M 3.1 B 94.50%
Weighting of Top 10 68.57% 40.8% 111.7% 44.95%

Top 10 Holdings

  1. Mount Vernon Liquid Assets Portfolio, LLC 13.14%
  2. Energy Transfer LP 7.42%
  3. TC Energy Corp 7.16%
  4. Enbridge Inc 7.14%
  5. Williams Cos Inc/The 7.11%
  6. ONEOK Inc 7.09%
  7. Cheniere Energy Inc 6.82%
  8. Enterprise Products Partners LP 4.29%
  9. Pembina Pipeline Corp 4.27%
  10. Targa Resources Corp 4.13%

Asset Allocation

Weighting Return Low Return High USAI % Rank
Stocks 		99.49% 53.33% 133.88% 54.13%
Cash 		13.58% -58.21% 13.58% 0.92%
Preferred Stocks 		0.00% 0.00% 2.34% 72.48%
Other 		0.00% -36.30% 4.52% 66.97%
Convertible Bonds 		0.00% 0.00% 5.29% 70.64%
Bonds 		0.00% -0.01% 44.12% 67.89%

Stock Sector Breakdown

Weighting Return Low Return High USAI % Rank
Energy 		97.47% 53.73% 100.00% 33.03%
Utilities 		2.53% 0.00% 41.78% 53.21%
Technology 		0.00% 0.00% 2.43% 81.65%
Real Estate 		0.00% 0.00% 3.96% 70.64%
Industrials 		0.00% 0.00% 4.54% 77.98%
Healthcare 		0.00% 0.00% 0.00% 70.64%
Financial Services 		0.00% 0.00% 0.66% 72.48%
Communication Services 		0.00% 0.00% 0.00% 70.64%
Consumer Defense 		0.00% 0.00% 0.82% 70.64%
Consumer Cyclical 		0.00% 0.00% 13.46% 72.48%
Basic Materials 		0.00% 0.00% 6.40% 84.40%

Stock Geographic Breakdown

Weighting Return Low Return High USAI % Rank
US 		75.77% 48.92% 132.40% 91.74%
Non US 		23.72% 0.00% 26.09% 3.67%

USAI - Expenses

Operational Fees

USAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.35% 8.81% 95.37%
Management Fee 0.75% 0.35% 1.38% 13.04%
12b-1 Fee 0.00% 0.00% 1.00% 13.79%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

USAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

USAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

USAI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 6.00% 166.00% 30.10%

USAI - Distributions

Dividend Yield Analysis

USAI Category Low Category High USAI % Rank
Dividend Yield 0.00% 0.00% 17.45% 79.13%

Dividend Distribution Analysis

USAI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Annual

Net Income Ratio Analysis

USAI Category Low Category High USAI % Rank
Net Income Ratio 1.58% -6.38% 9.57% 19.44%

Capital Gain Distribution Analysis

USAI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

USAI - Fund Manager Analysis

Managers

Michael Mack

Start Date

Tenure

Tenure Rank

Dec 13, 2019

2.47

2.5%

Michael Mack has been an Investment Analyst for Pacer Advisors, Inc. since joining it in 2012. Prior to his position with the firm, Mr. Mack was an Associate with Cameron Capital Management from 2011 to 2012. He also served as an Analyst/Trader for Simitec Inc., a business and technology consulting firm, from 2005 to 2009.

Bruce Kavanaugh

Start Date

Tenure

Tenure Rank

Dec 13, 2019

2.47

2.5%

Mr. Kavanaugh has been Vice President of the Adviser since it began operations in 2004. He has been a portfolio manager with the Adviser since 2013.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.75 12.18

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