Pacer Swan SOS Moderate (March) ETF (NYSE Arca: MMAR) is a U.S.-registered exchange-traded fund and a separate series of Pacer Funds Trust that provides a defined-outcome, large-cap U.S. equity investment strategy. The Fund seeks to deliver returns linked to the SPDR S&P 500 ETF Trust, up to a predetermined upside cap, while seeking to buffer the first 15% of losses of the underlying ETF over each approximately one-year investment period. MMAR invests substantially all of its assets in Flexible Exchange Options referencing the SPDR S&P 500 ETF Trust and employs a structured-outcome strategy intended for investors and financial advisers seeking risk-managed exposure to U.S. large-cap equities; shares trade in the secondary market through broker-dealers, while creation and redemption activity occurs in Creation Units. The Fund is non-diversified and is managed using a rules-based approach by Pacer Advisors, Inc., with Swan Global Management, LLC serving as investment sub-adviser. Pacer Funds Trust is a Delaware statutory trust headquartered in Malvern, Pennsylvania, United States, and Pacer Financial, Inc., an affiliate of Pacer Advisors, acts as distributor. MMAR commenced operations in June 2026. In June 2026, Pacer launched MMAR alongside seven additional Pacer Swan SOS Moderate ETFs offering different outcome-period start months, expanding the Swan SOS Moderate product range and providing investors with additional entry points for buffered S&P 500-linked strategies; Pacer also reduced management fees across the Swan SOS ETF Series, including MMAR, from 0.60% to 0.49%, and announced plans to introduce the Pacer Swan SOS Laddered Moderate ETF, which is intended to invest across the 12 Swan SOS Moderate ETFs.