PSMD
Pacer Swan SOS Moderate (January) ETF
PSMD aims for specific buffered losses and capped gains on SPY ETF over a specific holdings period. The actively-managed fund holds options and collateral.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
82.5 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | Pacer Advisors |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Dec 22, 2020 |
| Assets (mns) | $83 |
| Expense ratio | 75 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| SPY 12/31/2025 6.51 C | 100.8 % |
| SPY 12/31/2025 586.14 P | 1.7 % |
| CASH & OTHER | 1.0 % |
| SPY 12/31/2025 498.17 P | -0.6 % |
| SPY 12/31/2025 656.53 C | -2.8 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.7% | 9.9% | 11.5% | 12.4% | -- | -- | -- | 9.1% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | -- | -- | -- | 0.0% |
| Total Returns | 5.7% | 9.9% | 11.5% | 12.4% | -- | -- | -- | 9.1% | Ann. Volatility | 13.1% | 10.5% | 8.6% | 8.9% | -- | -- | -- | 8.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.49 | 93% |
| MSCI EAFE | 0.36 | 56% |
| MSCI Emg Mkts | 0.25 | 29% |
Liquidity Measures
| Avg. volume (000) | 13 |
| ADV traded (mns) | $0 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.45% |
Technical Indicators
| Recent close | $30.57 |
| 30d moving avg. | $30.51 |
| Annualized volatility | 7.8% |
| Relative strength (RSI) | 64 |
| Short interest | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| PSMD (75 bp) Percentile rank | 21 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PSMD | 75.0 | 44.6 | 119.6 |
| Peer Avg. | 94.4 | 32.9 | 127.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .