Pacer Swan SOS Moderate (August) ETF (MAUG)

Pacer Swan SOS Moderate (August) ETF is a structured outcome fund sponsored by Pacer ETFs, with Swan Global Investments managing the options strategy. It is part of the Pacer Swan SOS (Structured Outcome Strategies) series, each tied to an annual outcome period that here begins in August.

The fund uses FLEX options on the SPDR S&P 500 ETF Trust to provide a defined range of outcomes over the period: it participates in the price gains of the S&P 500 up to a cap and offers downside protection designed to absorb a specified portion of losses, with the Moderate version positioned between the series' more conservative and more aggressive buffer levels.

The cap is reset at the start of each outcome period, dividends are not included in the exposure, and investors entering mid-period may see different results.