Pacer US Cash Cows Growth ETF (BUL) is an exchange-traded fund that tracks the Pacer US Cash Cows Growth Index, a rules-based, market cap-weighted benchmark comprising approximately 50 large- and mid-cap U.S. growth equities selected from the S&P 900 Pure Growth Index for high free cash flow margins (free cash flow divided by sales), high free cash flow yields (free cash flow divided by enterprise value), and strong projected free cash flows and earnings. The fund offers investors exposure to high-quality growth companies trading at discounts relative to peers, with a focus on sectors such as consumer discretionary, industrials, communication services, and information technology; top holdings as of mid-2025 include Uber Technologies Inc., Booking Holdings Inc., ResMed Inc., Airbnb Inc., and Delta Air Lines Inc. BUL provides quarterly distributions and seeks long-term capital appreciation through its fundamental screening process that excludes financial companies (other than REITs) with negative projections.
Launched on May 2, 2019, and issued by Pacer ETFs, a provider of strategy-driven ETFs headquartered in Malvern, Pennsylvania, BUL operates exclusively in the U.S. equity market, targeting institutional and retail investors seeking growth-oriented cash flow strategies within the broad equity asset class.
Pacer ETFs, founded in 2015, has expanded its Cash Cows ETF series—which includes value, growth, and blend strategies—to surpass $10 billion in assets under management as of recent announcements; the firm continues to innovate with new launches such as a Growth Rotation Fund and a Quality-Focused Fund in the Cash Cows series, alongside targeted offerings in private equity and venture capital opportunities.