Pacer American Energy Infrastructure ETF
USAI
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- Pacer American Energy Independence ETF (USAI) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the American Energy Independence Index, which measures U.S. and Canadian exchange-listed equity securities of companies generating a majority of their cash flow from qualifying midstream energy infrastructure activities, including energy processing, transportation, storage, and distribution; the fund invests at least 80% of its assets in the index components, which comprise master limited partnerships (MLPs), C-corporations, and general partners of MLPs involved in pipelines, liquefied natural gas facilities, and related infrastructure, with top holdings such as Enbridge Inc., ONEOK Inc., Kinder Morgan Inc., Energy Transfer LP, and Cheniere Energy Inc.; it maintains holdings of MLPs below 25% to qualify as a regulated investment company (RIC) and avoid U.S. federal corporate income tax. Launched on December 12, 2017, and headquartered with Pacer Advisors, Inc. in Malvern, Pennsylvania, the ETF operates primarily in the energy limited partnership segment of the midstream infrastructure industry, targeting investors seeking income from steady cash flows generated by contract-based operations less correlated to oil price volatility; it provides geographic exposure predominantly to the United States (approximately 79%) and Canada (approximately 21%), with a weighted average market capitalization of $42.7 billion, dividend yield of 4.37%, and expense ratio of 0.75%. Pacer ETFs acquired the American Energy Independence ETF in 2020 from SL Advisors, LLC, renaming it the Pacer American Energy Independence ETF and integrating it as a series of Pacer Funds Trust under Pacer Advisors, Inc. as investment adviser, shifting management responsibility from SL Advisors and sub-adviser Penserra Capital Management LLC; more recently, the fund announced a monthly dividend increase from $0.12 to $0.16 per share effective January 2025 following a 43.92% return in 2024 that outperformed the S&P 500 energy sector.