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Critical Facts You Need to Know About Preferred Stocks
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Pacer Trendpilot US Bond ETF
ETF
PTBD
Payout Change
Pending
Price as of:
$20.135
+0.07
+0.32%
primary theme
High Yield Bond
PTBD (ETF)
Pacer Trendpilot US Bond ETF
Payout Change
Pending
Price as of:
$20.135
+0.07
+0.32%
primary theme
High Yield Bond
PTBD (ETF)
Pacer Trendpilot US Bond ETF
Payout Change
Pending
Price as of:
$20.135
+0.07
+0.32%
primary theme
High Yield Bond
Name
As of 12/24/2024Price
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
Vitals
YTD Return
4.2%
1 yr return
4.0%
3 Yr Avg Return
-3.3%
5 Yr Avg Return
-0.1%
Net Assets
$176 M
Holdings in Top 10
8.8%
52 WEEK LOW AND HIGH
$20.1
$19.88
$20.91
Expenses
OPERATING FEES
Expense Ratio 0.60%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 55.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 12/24/2024Price
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
PTBD - Profile
Distributions
- YTD Total Return 4.2%
- 3 Yr Annualized Total Return -3.3%
- 5 Yr Annualized Total Return -0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.04%
- Dividend Yield 5.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePacer Trendpilot US Bond ETF
-
Fund Family NamePacer
-
Inception DateOct 22, 2019
-
Shares Outstanding35200000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJim Iredale
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 and maintained by Index Design Group (the “Index Provider”), an affiliate of Pacer Advisors, Inc., the Fund’s investment adviser (the “Adviser”).
The Index
The Index uses an objective, rules-based methodology to implement a systematic trend-following strategy that directs exposure to one of the following positions: (i) 100% to the iBoxx® USD Liquid High Yield Index, (ii) 50% to the iBoxx USD Liquid High Yield Index and 50% to the iBoxx® USD Treasuries 7-10 Year Index or (iii) 100% to iBoxx USD Treasuries 7-10 Year Index, depending on the “Risk Ratio,” described below.
The iBoxx USD Liquid High Yield Index is designed to track the performance of U.S. dollar-denominated, high-yield corporate bonds issued in the U.S. The iBoxx USD Treasuries 7-10 Year Index is designed to measure the performance of U.S. Treasury bonds maturing in 7 to 10 years. The Index uses a “Risk Ratio” to signal a change in the position of the Index. The Risk Ratio is calculated by dividing the value of the iBoxx USD Liquid High Yield Index by the value of the iBoxx USD Treasuries 7-10 Year Index.
The Index, and consequently the Fund, may stay in any of its three possible positions for an extended period of time. As described below, the Index will change its position based on the following indicators, and each change will become
effective by the close of business on the sixth business day after the indicator for the change is triggered. The Index will be in a new position effective on the seventh business day.
High Yield Indicator. When the Risk Ratio closes above its 100-day historical simple moving average (the “100-day moving average”) for five consecutive business days (the “High Yield Indicator”), the exposure of the Index will be 100% to the iBoxx USD Liquid High Yield Index, effective by the close of business on the sixth business day following the date of the High Yield Indicator. The Index will be in a new position effective on the seventh business day.
Once the High Yield Indicator has been triggered, the exposure of the Index will next change to either be 50% to the iBoxx USD Liquid High Yield Index and 50% iBoxx USD Treasuries 7-10 Year Index if the 50/50 Indicator (described below) is triggered or 100% to iBoxx USD Treasuries 7-10 Year Index if both the 50/50 Indicator and the Treasury Bond (“T-Bond”) Indicator (described below) are triggered simultaneously, effective by the close of business on the sixth business day following the date of the High Yield Indicator. The Index will be in a new position effective on the seventh business day.
50/50 Indicator. When the Risk Ratio closes below its 100-day moving average for five consecutive business days (the “50/50 Indicator”), the exposure of the Index will be 50% to the iBoxx USD Liquid High Yield Index and 50% iBoxx USD Treasuries 7-10 Year Index, effective by the close of business on the sixth business day following the date of the 50/50 Indicator. The Index will be in a new position effective on the seventh business day. Following the effectiveness of the 50/50 Indicator, the exposure of the Index may be greater than or less than 50% with respect to the iBoxx USD Liquid High Yield Index and iBoxx USD Treasuries 7-10 Year Index depending on their respective performance until either the High Yield Indicator or T-Bond Indicator (described below) is triggered.
Once the 50/50 Indicator has been triggered, the exposure of the Index will next change to either be 100% to the iBoxx USD Liquid High Yield Index if the High Yield Indicator is triggered or 100% to iBoxx USD Treasuries 7-10 Year Index if the T-Bond Indicator (described below) is triggered, effective by the close of business on the sixth business day following the date of the 50/50 Indicator. The Index will be in a new position effective on the seventh business day.
T-Bond Indicator. When the Risk Ratio’s 100-day moving average closes lower than its value from five business days earlier (the “T-Bond Indicator”), the exposure of the Index will be 100% to iBoxx USD Treasuries 7-10 Year Index, effective by the close of business on the sixth business day following the date of the T-Bond Indicator. The Index will be in a new position effective on the seventh business day.
For example, if today is Wednesday and the Risk Ratio 100-day moving average closes lower than it did on the fifth preceding business day (Wednesday of the preceding week), the T-Bond Indicator is triggered. Unlike the operation of the High Yield Indicator and 50/50 Indicator, the closing values on the days in between today and the fifth preceding business day do not affect whether the T-Bond Indicator has been triggered; rather, the T-Bond Indicator simply compares today’s closing value to the closing value five business days earlier. However, the Index will not move directly from 100% exposure to the iBoxx USD Liquid High Yield Index to 100% exposure to iBoxx USD Treasuries 7-10 Year Index unless the 50/50 Indicator was simultaneously triggered following the most recent triggering of the High Yield Indicator.
Once the T-Bond Indicator has been triggered, the exposure of the Index will next change to be 100% to the iBoxx USD Liquid High Yield Index if the High Yield Indicator is triggered, effective by the close of business on the sixth business day following the date of the indicator. The Index will be in a new position effective on the seventh business day. Once the T-Bond Indicator has been triggered, the Index will not return to its 50/50 position unless the High Yield Indicator is first triggered, followed by the 50/50 Indicator being triggered.
The Fund’s Investment Strategy
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in bonds denominated in U.S. dollars. 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 “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. However, the Fund may 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, when the Fund’s
sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index does not involve practical difficulties or substantial costs).
The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions).
PTBD - Performance
Return Ranking - Trailing
| Period | PTBD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.2% | -8.8% | 17.7% | 93.23% |
| 1 Yr | 4.0% | -9.2% | 18.4% | 95.21% |
| 3 Yr | -3.3%* | -14.6% | 21.0% | 95.94% |
| 5 Yr | -0.1%* | -12.0% | 36.6% | 94.99% |
| 10 Yr | N/A* | -4.8% | 20.1% | 11.09% |
* Annualized
Return Ranking - Calendar
| Period | PTBD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.8% | -4.7% | 14.3% | 94.90% |
| 2022 | -25.3% | -33.4% | 3.6% | 98.67% |
| 2021 | -2.2% | -8.4% | 8.2% | 91.03% |
| 2020 | 7.8% | -13.2% | 302.7% | 2.31% |
| 2019 | N/A | -4.4% | 13.3% | N/A |
Total Return Ranking - Trailing
| Period | PTBD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.2% | -8.8% | 17.7% | 93.23% |
| 1 Yr | 4.0% | -9.2% | 18.4% | 95.21% |
| 3 Yr | -3.3%* | -14.6% | 21.0% | 95.94% |
| 5 Yr | -0.1%* | -12.0% | 36.6% | 94.99% |
| 10 Yr | N/A* | -4.8% | 20.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | PTBD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.8% | -4.7% | 18.7% | 91.94% |
| 2022 | -20.9% | -33.4% | 47.8% | 97.34% |
| 2021 | 0.5% | -8.4% | 12.4% | 95.34% |
| 2020 | 10.6% | -9.6% | 325.6% | 3.55% |
| 2019 | N/A | -3.8% | 21.6% | N/A |
PTBD - Holdings
Concentration Analysis
| PTBD | Category Low | Category High | PTBD % Rank | |
|---|---|---|---|---|
| Net Assets | 176 M | 3.13 M | 25.3 B | 77.87% |
| Number of Holdings | 1198 | 2 | 3879 | 5.93% |
| Net Assets in Top 10 | 14.7 M | -492 M | 5.25 B | 87.48% |
| Weighting of Top 10 | 8.76% | 4.2% | 146.0% | 85.17% |
Top 10 Holdings
- Mount Vernon Liquid Assets Portfolio, LLC 4.67%
- U.S. Bank Money Market Deposit Account 1.19%
- Medline Borrower LP 0.42%
- Cloud Software Group Inc 0.39%
- Cloud Software Group Inc 0.38%
- Directv Financing LLC / Directv Financing Co-Obligor Inc 0.37%
- DISH Network Corp 0.35%
- HUB International Ltd 0.35%
- Venture Global LNG Inc 0.34%
- Teva Pharmaceutical Finance Netherlands III BV 0.33%
Asset Allocation
| Weighting | Return Low | Return High | PTBD % Rank | |
|---|---|---|---|---|
| Bonds | 97.63% | 0.00% | 145.36% | 14.92% |
| Cash | 5.86% | -52.00% | 48.02% | 24.55% |
| Convertible Bonds | 0.08% | 0.00% | 17.89% | 93.90% |
| Stocks | 0.00% | 0.00% | 97.54% | 87.05% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 66.89% |
| Other | 0.00% | -39.08% | 99.86% | 66.23% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PTBD % Rank | |
|---|---|---|---|---|
| Government | 85.49% | 0.00% | 99.07% | 0.33% |
| Corporate | 13.99% | 0.00% | 100.00% | 98.18% |
| Cash & Equivalents | 5.86% | 0.00% | 48.02% | 22.41% |
| Derivative | 0.00% | -14.58% | 42.26% | 55.52% |
| Securitized | 0.00% | 0.00% | 97.24% | 69.47% |
| Municipal | 0.00% | 0.00% | 1.17% | 45.54% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PTBD % Rank | |
|---|---|---|---|---|
| US | 97.63% | 0.00% | 126.57% | 11.70% |
| Non US | 0.00% | 0.00% | 96.91% | 71.83% |
PTBD - Expenses
Operational Fees
| PTBD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.60% | 0.02% | 38.33% | 85.53% |
| Management Fee | 0.60% | 0.00% | 1.75% | 65.85% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| PTBD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| PTBD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
| PTBD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 55.00% | 1.00% | 255.00% | 33.45% |
PTBD - Distributions
Dividend Yield Analysis
| PTBD | Category Low | Category High | PTBD % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.72% | 0.00% | 11.76% | 16.69% |
Dividend Distribution Analysis
| PTBD | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| PTBD | Category Low | Category High | PTBD % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.04% | -2.39% | 9.30% | 67.95% |
Capital Gain Distribution Analysis
| PTBD | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 21, 2024 | $0.096 | OrdinaryDividend |
| Oct 24, 2024 | $0.077 | OrdinaryDividend |
| Sep 26, 2024 | $0.060 | OrdinaryDividend |
| Aug 22, 2024 | $0.091 | OrdinaryDividend |
| Jul 25, 2024 | $0.106 | OrdinaryDividend |
| Jun 27, 2024 | $0.175 | OrdinaryDividend |
| Apr 25, 2024 | $0.143 | OrdinaryDividend |
| Mar 21, 2024 | $0.120 | OrdinaryDividend |
| Feb 22, 2024 | $0.114 | OrdinaryDividend |
| Jan 25, 2024 | $0.093 | OrdinaryDividend |
| Dec 27, 2023 | $0.169 | OrdinaryDividend |
| Nov 22, 2023 | $0.114 | OrdinaryDividend |
| Oct 26, 2023 | $0.145 | OrdinaryDividend |
| Sep 21, 2023 | $0.118 | OrdinaryDividend |
| Aug 24, 2023 | $0.118 | OrdinaryDividend |
| Jul 27, 2023 | $0.159 | OrdinaryDividend |
| Jun 22, 2023 | $0.092 | OrdinaryDividend |
| May 25, 2023 | $0.037 | OrdinaryDividend |
| Apr 27, 2023 | $0.065 | OrdinaryDividend |
| Mar 23, 2023 | $0.122 | OrdinaryDividend |
| Feb 23, 2023 | $0.110 | OrdinaryDividend |
| Jan 26, 2023 | $0.092 | OrdinaryDividend |
| Dec 22, 2022 | $0.159 | OrdinaryDividend |
| Nov 25, 2022 | $0.109 | OrdinaryDividend |
| Oct 27, 2022 | $0.146 | OrdinaryDividend |
| Sep 22, 2022 | $0.116 | OrdinaryDividend |
| Aug 25, 2022 | $0.054 | OrdinaryDividend |
| Jul 21, 2022 | $0.254 | OrdinaryDividend |
| Jun 23, 2022 | $0.184 | OrdinaryDividend |
| Mar 24, 2022 | $0.213 | OrdinaryDividend |
| Dec 23, 2021 | $0.197 | OrdinaryDividend |
| Sep 23, 2021 | $0.220 | OrdinaryDividend |
| Jun 21, 2021 | $0.125 | OrdinaryDividend |
| Mar 22, 2021 | $0.186 | OrdinaryDividend |
| Dec 21, 2020 | $0.281 | OrdinaryDividend |
| Sep 21, 2020 | $0.274 | OrdinaryDividend |
| Jun 22, 2020 | $0.010 | OrdinaryDividend |
| Mar 23, 2020 | $0.123 | OrdinaryDividend |
| Dec 24, 2019 | $0.159 | OrdinaryDividend |
PTBD - Fund Manager Analysis
Managers
Jim Iredale
Start Date
Tenure
Tenure Rank
Oct 22, 2019
2.61
2.6%
Mr. Iredale became a Senior Portfolio Manager – Fixed Income at Vident in 2015. Prior to joining Vident, Mr. Iredale was a Manager – Fixed Income with Ronald Blue & Co., one of the largest independent wealth management firms in the U.S., where he started in 1999. Mr. Iredale graduated with a BBA from the University of Georgia, Terry College of Business and obtained his JD from the University of Georgia School of Law.
Austin Wen
Start Date
Tenure
Tenure Rank
Jun 24, 2020
1.93
1.9%
Austin Wen, CFA has seven years of investment management experience. Mr. Wen is a Portfolio Manager at Vident, specializing in portfolio management and trading of equity portfolios and commodities based portfolios, as well as risk monitoring and investment analysis. Previously, Mr. Wen was an analyst for Vident Financial, working on the development and review of investment solutions. He began his career as a State Examiner for the Georgia Department of Banking and Finance. Mr. Wen obtained a BA in Finance from the University of Georgia and holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
