Pacer Perspective
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Featured Market Commentary
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Small-Cap Stocks: A Revisit at the Year End
December 2023
Category: Cash Cows Series, CALF
At the beginning of the year, we provided our perspective on small-cap opportunities. Since then, the market landscape has witnessed substantial changes and developments.
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Investing in the Intangible Economy: FCF as the Answer
November 2023
Category: Cash Cows Series, COWZ, COWG
Over the last 20 years, a notable shift has occurred in the U.S. business landscape. More companies are adopting capital-light business models where their products or services are based on factors beyond traditional tangible assets like buildings and machinery.
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Pacer Cash Cows Index ETF Series
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Growth Investing Illuminated Part 2: The Magnificent Seven
March 2024
Category: Cash Cows Series, COWG
The issue of narrow market breadth, dominated by the Magnificent Seven, has become a significant concern for many U.S. equity investors.
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Investment Crossroads Part 1: International Equity
February 2024
Category: Cash Cows Series, GCOW, ICOW, ECOW
2024 may be a good time to look for opportunities in international stocks. Anticipating uncertainties and a possible uptick in market volatility, we expect international stocks may offer the potential for attractive returns as well as provide diversification for U.S. investors' portfolios.
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The Power of Free Cash Flow Yield
December 2023
Category: Cash Cows Series, GCOW, COWZ, CALF, ICOW
Valuation metrics offer investors a simple way to assess a company’s worth by looking at its sales, earnings and cash flow.
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Small-Cap Stocks: A Revisit at the Year End
December 2023
Category: Cash Cows Series, CALF
At the beginning of the year, we provided our perspective on small-cap opportunities. Since then, the market landscape has witnessed substantial changes and developments.
Download -
Investing in the Intangible Economy: FCF as the Answer
November 2023
Category: Cash Cows Series, COWZ, COWG
Over the last 20 years, a notable shift has occurred in the U.S. business landscape. More companies are adopting capital-light business models where their products or services are based on factors beyond traditional tangible assets like buildings and machinery.
Download -
Growth Investing Illuminated: The “take-one” on FCF Margin
October 2023
Category: Cash Cows Series, COWG, CAFG
In the realm of growth investing, investors look for companies that are expected to outpace the industry or the market averages in terms of growth. However, approaching growth investing isn't always a straightforward endeavor, given there is no universally accepted formula to gauge a company's growth potential.
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Exploring the Quality Dimensions of Free Cash Flow Yield
September 2023
Category: Cash Cows Series, COWZ
Pacer US Cash Cows 100 ETF (COWZ) screens for high Free Cash Flow Yield (Free Cash Flow / Enterprise Value) companies within the Russell 1000 Index. As a value factor, Free Cash Flow Yield (FCF Yield) offers investors an effective way for identifying undervalued companies.
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Sailing Abroad: Identifying Intl Value Investing Opportunities
February 2023
Category: Cash Cows Series, GCOW, ICOW, ECOW
Most investors admit they don’t have enough international exposure in their portfolios. However, many believe there may be a significant opportunity in the international space going forward.
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Small Cap Stocks: A Closer Look at the True Opportunity
January 2023
Category: Cash Cows Series, CALF
2022 brought on the highest inflation in 40 years and the worst calendar year performance for the stock market since 2008. With concerns of an impending recession looming, and a potential 5% Fed funds rate on the horizon, now seems like a good time to revisit the small-cap investing landscape, especially opportunities in quality value small-cap stocks.
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A Dive into the Energy Sector: Part 1
October 2022
Category: Cash Cows Series, COWZ
Though inflation eased slightly for the second month in a row, people in the US are still seeing rising prices everywhere.
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A Dive into the Energy Sector: Part 2
October 2022
Category: Cash Cows Series, COWZ
In part 1 of our dive into the Energy sector, we emphasized that by screening for energy stocks with a high free cash flow (FCF) yield, we can identify where high FCF is generated and where such profitability is undervalued.
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A Closer Look at Health Care
September 2022
Category: Cash Cows Series, COWZ
Currently, Health Care is one of the top sectors in the Pacer US Cash Cows 100 ETF (COWZ), occupying ¼ of the fund’s holding, the highest weighting since the fund's inception in 2016.
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Inflation and Equity Valuation
August 2022
Category: Cash Cows Series, COWZ
The Consumer Price Index (CPI) number continued to surprise and jumped 9.1% in June, and rose to the highest level in 40 years.
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The Case for Small Cap, Quality and Value.
May 2021
Category: Cash Cows Series, CALF
One of the most popular asset classes available to investors has been the small cap value space. Small cap companies are those with somewhat smaller market capitalization, which can range from just $300 million to $2 billion.
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Value Stocks - Not the Bargain They Used to Be.
May 2018
Category: Cash Cows Series, GCOW, COWZ, CALF, ICOW
Following age old investing advice to buy low, value stocks are appealing to most investors because of their potentially attractive prices below fair value.
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Break from the herd. Consider free cash flow.
January 2017
Category: Cash Cows Series, GCOW, COWZ
The Department of Labor’s new fiduciary regulations require many financial advisors to change the way they do business.
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Overcoming Home Country Bias and Seizing the Intl. Opportunity.
October 2016
Category: Cash Cows Series, GCOW
Based on our conversations with financial advisors, most admit they don’t have enough international exposure.
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Don't Miss Opportunities Abroad. Globalize Your Portfolio.
September 2016
Category: Cash Cows Series, GCOW, Trendpilot Series, PTEU
A common piece of investment advice is to “invest in what you know.” This may be sound advice, but it limits investors to a small part of the market.
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Finding Quality Investments in an Overcrowded Market
August 2016
Category: Cash Cows Series, GCOW
Given the recent market volatility, investors are searching for stability in their portfolios. Weak economic growth, a hawkish Fed and declining earnings are creating more urgency for this stability.
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Global Opportunity for Dividends
April 2016
Category: Cash Cows Series, GCOW
In the current low interest rate environment, bonds and other fixed income products are not providing the same level of income they once did. As a result, investors are turning towards other opportunities like dividend stocks for income.
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Pacer Swan SOS ETF Series
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The Investment Case of Effective Risk Management
January 2024
Category: PTLC, Trendpilot Series, PSMD, Pacer Swan SOS Series
Risk management is critical for any investment strategy. Whether investors are navigating short term opportunities or charting a course for long-term growth, the inherent uncertainties and volatility in market conditions may expose investors’ wealth to substantial fluctuations.
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From Equity Valuation to Earnings Growth
August 2022
Category: PTLC, Trendpilot Series, Pacer Swan SOS Series
In the most recent Pacer perspective, we highlighted the inverse relationship between inflation and the S&P 500’s P/E ratio.
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Pacer Trendpilot ETF Series
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The Investment Case of Effective Risk Management
January 2024
Category: PTLC, Trendpilot Series, PSMD, Pacer Swan SOS Series
Risk management is critical for any investment strategy. Whether investors are navigating short term opportunities or charting a course for long-term growth, the inherent uncertainties and volatility in market conditions may expose investors’ wealth to substantial fluctuations.
Download -
The NASDAQ-100 - Is this time really different?
December 2023 Update
Category: Trendpilot Series, PTNQ
Since the end of the 2008 Great Recession to the end of 2021, the NASDAQ-100® had an astonishing run of performance.
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Feeling Emotional? You're Not Alone.
December 2022
Category: PTLC, PTMC, Trendpilot Series, PTNQ, PTEU, PTIN, TRND, PTBD
To be an informed investor, it’s important to keep up with world news and understand how current events can affect the market and your investments.
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From Equity Valuation to Earnings Growth
August 2022
Category: PTLC, Trendpilot Series, Pacer Swan SOS Series
In the most recent Pacer perspective, we highlighted the inverse relationship between inflation and the S&P 500’s P/E ratio.
Download -
Trend following in Fixed Income Markets in 2022
July 2022
Category: Trendpilot Series, PTBD
2022 has been a unique year for fixed income trend following strategies in that credit spreads and interest rates have increased at the same time.
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Putting Risk Into Context
December 2021
Category: Trendpilot Series, PTBD
The Case for Dynamic vs Static Risk Management
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"Risk-Free Return" Could Turn Out to Be "Return-Free Risk"
November 2020
Category: Trendpilot Series, PTBD
2020 will certainly go down in history as one of the more interesting years we’ve seen. As the Old English phrase alludes to, “may you live in interesting times” might not always be a good thing.
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Trendpilot in Action - the 2020 Pandemic
April 2020
Category: Trendpilot Series, TRND
We have just experienced one of the fastest selloffs in market history. While Pacer Trendpilot Series ETFs may not have shifted into cash immediately, they stuck to the rules and made the move fast enough to miss a significant portion of the market decline.
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Up, Up and Now Which Way?
March 2018
Category: PTLC, PTMC, Trendpilot Series, PTNQ, PTEU
After two years of steady returns since the last correction, investors were wondering if the market would ever see one again.
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Why the 200-day Simple Moving Average?
November 2017
Category: PTLC, PTMC, Trendpilot Series, PTNQ, PTEU
Investors have long used moving averages to determine trends in the market.
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Using a barbell to strengthen your portfolio? Think again.
August 2017
Category: PTMC, Trendpilot Series
In an attempt to diversify their portfolio, many investors use a combination of large- and small-cap stocks.
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Jump on the European Bandwagon
May 2017
Category: GCOW, Trendpilot Series, PTEU
The European stock market began to see improvement in 2016 as bank lending increased and earnings grew.
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Cooling His Temper and Headed for Success?
November 2016
Category: PTLC, PTMC, Trendpilot Series
2016 has definitely been a year marked with uncertainty. Post-election, the uncertainty has now shifted from who will be president to what will President-elect Trump do.
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Don't Miss Opportunities Abroad. Globalize Your Portfolio.
September 2016
Category: Cash Cows Series, GCOW, Trendpilot Series, PTEU
A common piece of investment advice is to “invest in what you know.” This may be sound advice, but it limits investors to a small part of the market.
Download -
The Risk of Brexit on Economic Growth
July 2016
Category: Trendpilot Series, PTEU
The news of the United Kingdom’s vote to exit the European Union, more commonly known as Brexit, has many scrambling and wondering what the fallout will be for economic growth.
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Pacer Custom ETF Series
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Midstream, Free Cash Flow and Income
March 2023
Category: Pacer Custom Series, USAI
The energy sector, so far, has impressed the market with an improved balance sheet and strong free cash flow generation as we highlighted in the part 1 and part 2 of our dive into the energy story.
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Dividend Multiplier: Part 2
December 2022
Category: Pacer Custom Series, QDPL
With a fundamental knowledge of dividend futures, we can dig deeper into how to utilize dividend futures contracts to enhance an investor’s income-potential through the Dividend Multiplier Strategy.
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Dividend Multiplier: Part 1
December 2022
Category: Pacer Custom Series, QDPL
One of investors' most constant and common concerns is finding ways to increase their yield. The Pacer Dividend Multiplier Strategy provides broad-based equity exposure while aiming to deliver a multiple of the index’s dividend yield.
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Understanding the 5G Opportunity
July 2020
Category: Pacer Custom Series, SRVR
Over the past year, the topic of 5G has attracted a lot of attention. Investors have been seeking answers as to what 5G is, and how they should invest based on what they find.
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You Should Probably Own More Real Estate.
September 2018
Category: Pacer Custom Series, SRVR, INDS
Recently, investors have been weary of investing in Real Estate Investment Trusts (REITs). Memories of last decade's real estate bubble still haunt them, but investors should remember that sentiment doesn't always match fundamentals.
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Pacer Factor ETF Series
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Low Volatility Is Not a Buy and Hold Strategy
November 2022
Category: ALTL, Pacer Factor Series
Don’t get us wrong, there are long-term benefits to holding stocks that have low levels of price fluctuations.
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Pacer Thematic ETF Series
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Investing in the Data Center Ecosystem
April 2024
Category: TRFK, Thematic Series
The digital revolution, powered by advances in technology like computing and communication, has reshaped society, changing how people and businesses interact and work. With technology advancing rapidly, the amount of data created has skyrocketed.
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General Material
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Equity is still attractive...if you focus on dividends
April 2023
Category: General Material
The decade after the great financial crisis is referred to as the “TINA” era, which is short for “There Is No Alternative.” The term describes an investment world where there was no alternative to owning equities because of low interest rates.
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A Letter From The President
June 2016
Category: General Material
As we wrap up our “birthday” celebrations here in Paoli this week, I can’t help but be grateful as I reflect on the accomplishments and recognition we’ve had during our infancy as an exchange traded fund (ETF) provider.
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