Pacer CSOP FTSE China A50 ETF
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- Pacer CSOP FTSE China A50 ETF (AFTY) is an exchange-traded fund that seeks to track the performance of the FTSE China A50 Net Total Return Index, providing investors with exposure to the 50 largest and most liquid China A-share companies listed on the Shanghai and Shenzhen stock exchanges; these A-shares represent stocks of Mainland China-based companies denominated in renminbi (RMB) and offer access to sectors including financials, consumer staples, industrials, utilities, and consumer discretionary. The fund employs a passive investment strategy through a representative sampling process, holding securities that collectively mirror the index's characteristics such as a weighted average market capitalization of approximately $103 billion, a dividend yield of 3.23%, and a price-to-earnings ratio of 11.54 as of mid-2024; it lists on the NYSE Arca exchange with a total expense ratio of 0.70% and features top holdings like Kweichow Moutai Co., Ltd., Contemporary Amperex Technology Co., Ltd., and China Merchants Bank Co., Ltd. Pacer Funds Trust serves as the issuer, with Pacer Advisors, Inc. acting as investment adviser and CSOP Asset Management Limited as sub-adviser responsible for day-to-day portfolio management. Launched on March 10, 2015, and headquartered at 500 Chesterfield Parkway, Malvern, Pennsylvania, the fund targets institutional and retail investors seeking China equity exposure, particularly to the domestic A-share market beyond Hong Kong-listed H-shares, amid China's position as the world's second-largest economy. Geographically, it focuses on Mainland China issuers while trading and distributing primarily in the United States. In March 2020, Pacer Advisors acquired the fund from CSOP ETF Trust, reorganizing it under Pacer Funds Trust, renaming it Pacer CSOP FTSE China A50 ETF, and establishing an ongoing strategic partnership with CSOP for sub-advisory services; this alliance leveraged CSOP's China A-share expertise and Pacer's U.S. distribution strengths. In January 2021, the fund liquidated securities impacted by U.S. Executive Order 13959 restrictions to ensure compliance. Pacer Advisors announced the fund's closure and liquidation in late 2024, with trading halting and final distributions occurring around October 11, 2024, marking a significant wind-down amid low assets under management of approximately $5.8 million.