PACER SWAN SOS MODERATE (APRIL) ETF

The investment seeks to provide investors with returns that, before fees and expenses of the fund, match those of the SPDR® S&P 500® ETF Trust. The fund is an actively managed exchange-traded fund (ETF) that, under normal market conditions, invests substantially all of its assets in FLexible EXchange® Options (FLEX Options) that reference the market price of the SPDR® S&P 500® ETF Trust (the Underlying ETF). It is non-diversified.