Pacer S&P MidCap 400 Quality FCF Aristocrats ETF (MCOW)

The Pacer S&P MidCap 400 Quality FCF Aristocrats ETF is an index fund from Pacer ETFs, the Pennsylvania-based sponsor of the Cash Cows family of free-cash-flow strategies. It seeks to track an S&P Dow Jones Indices benchmark drawn from the S&P MidCap 400, the standard measure of U.S. mid-size companies.

The index screens mid-cap companies for a record of consistent free cash flow generation and quality characteristics, and then selects and weights the qualifying constituents according to its rules. Financial companies, whose cash flows are less comparable, are typically excluded from free-cash-flow screens of this kind. The fund is passively managed and rebalances on the index's schedule.