Pacer US Cash Cows Bond ETF (MILK)

The Pacer US Cash Cows Bond ETF is a fixed income fund from Pacer ETFs, extending the firm's Cash Cows free-cash-flow approach from stocks to bonds. It invests in U.S. corporate bonds, focusing on debt issued by companies that generate strong free cash flow.

The underlying idea is that issuers with robust free cash flow may be better positioned to service their debt. The fund follows a rules-based methodology to select its holdings.