ETF Evaluator: Pacer Cash Cows Fund of Funds ETF () Follow This ETF

Pacer Cash Cows Fund of Funds ETF Overview

Pacer Cash Cows Fund of Funds ETF (HERD) is a passively managed International Equity Global Large-Stock Value exchange-traded fund (ETF). Pacer launched the ETF in 2019.

The investment seeks to track the total return performance, before fees and expenses, of the Pacer Cash Cows Fund of Funds Index. The index is based on a proprietary methodology developed and maintained by Index Design Group, an affiliate of Pacer Advisors, Inc., the fund's investment adviser. Under normal circumstances, at least 80% of the fund's total assets will be invested in the component securities of the index or the underlying holdings of one or more Cash Cows ETFs in the same approximate weight as such holdings are assigned in the applicable Cash Cows ETF, adjusted to reflect the weight of such Cash Cows ETF in the index.

About Pacer Cash Cows Fund of Funds ETF (HERD)

There are 2 members of the management team with an average tenure of 5.70 years: Bruce Kavanaugh (2019) and Danke Wang (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: FTSE All World Developed TR USD index with a weighting of 100% and Pacer Cash Cows FoFs TR USD index with a weighting of 100%. Pacer Cash Cows Fund of Funds ETF has 7 securities in its portfolio. The top 10 holdings constitute 99.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Pacer Cash Cows Fund of Funds ETF is part of the Equity global asset class and is within the International Equity ETF group. Pacer Cash Cows Fund of Funds ETF has 35.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 63.9% There is 35.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Pacer Cash Cows Fund of Funds ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $99 million in total assets, which is below the $457 million average for the Global Large-Stock Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

HERD Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Pacer Cash Cows Fund of Funds ETF expense ratio is above average compared to funds in the Global Large-Stock Value category. Pacer Cash Cows Fund of Funds ETF has an expense ratio of 0.74%, which is 19% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Pacer Cash Cows Fund of Funds ETF has a portfolio turnover rate of 6%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 46% for the Global Large-Stock Value category.

Recently, in the month of July 2026, Pacer Cash Cows Fund of Funds ETF returned 6.1%, which earned it a grade of A, as the Global Large-Stock Value category had an average return of 3.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Pacer Cash Cows Fund of Funds ETF has a trailing yield of 2.73%, which is above the 2.34% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Pacer Cash Cows Fund of Funds ETF Grades

Year to date, the ETF has returned 15.0%, 0.5 percentage points better than the category, which translates into a grade of B. The fund has returned 28.2% over the past year (grade of C), 14.3% over the past three years (grade of D) and 10.5% per year over the past five years (grade of C).

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