- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 500 Chesterfield Parkway Malvern PA United States of America 19355
- IPO Date
- Jun 19, 2017
- Business
- Pacer US Small Cap Cash Cows 100 ETF (CALF) is an exchange-traded fund that seeks capital appreciation by tracking the total return performance, before fees and expenses, of the Pacer US Small Cap Cash Cows Index; the index selects and equally weights the top 100 small-cap U.S. companies from the S&P SmallCap 600 Index based on free cash flow yield, excluding financial companies and those with negative projected free cash flow or earnings. The fund employs a rules-based methodology that screens for high free cash flow yield—defined as free cash flow divided by enterprise value—prioritizing companies generating excess cash after expenses, interest, taxes, and capital expenditures for potential stock buybacks, dividends, or growth investments; it offers exposure to quality small-cap value stocks across diversified sectors including industrials, consumer discretionary, energy, information technology, health care, communication services, materials, consumer staples, and real estate. CALF provides investors with a focus on under-researched small-cap opportunities trading at discounts, featuring characteristics such as a weighted average market cap of approximately $9.9 billion, a dividend yield of 1.72%, a free cash flow yield of 9.56%, and a P/E ratio of 14.25 as of September 30, 2025.
The ETF, issued by Pacer Funds Trust and managed by Pacer Advisors, Inc., trades on the Cboe exchange with a total expense ratio of 0.59%, an inception date of June 16, 2017, and is domiciled in the United States; it targets U.S. small-cap equity markets, primarily serving institutional and retail investors seeking small-cap value strategies with enhanced free cash flow metrics.
In recent developments, CALF was named ETF of the Year by the 2024 etf.com Awards for its significant impact on investor outcomes, with assets under management growing to over $9.2 billion by April 2024 amid strong performance including a 32% gain in 2023 that outperformed 98% of small-cap value peers; Pacer ETFs, the issuer, celebrated robust 2024 asset growth by launching 10 new funds, including expansions to the Cash Cows series such as the Pacer US Cash Cows Bond ETF (MILK), Pacer Nasdaq-100 Top 50 Cash Cows Growth Leaders ETF (QQQG), and Pacer Developed Markets Cash Cows Growth Leaders ETF (EAFG), alongside the broader Cash Cows Index ETF Series receiving ETF Suite of the Year recognition from With Intelligence’s Mutual Fund & ETF Awards.