At a glance
PATN charges 0.65% a year, above the 0.09% average of the 8 funds most like it (the most expensive of 9). It has $206.7M in assets, the 9th largest of that group; it paid 1.86% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +24.7% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds. Its ten largest positions make up 43.3% of the fund, out of 100 in all.
The short version
Pacer Nasdaq International Patent Leaders ETF (PATN) is an index fund that holds the 100 large and mid-sized companies outside the US with the most valuable patent portfolios, weighted by company size. Its 0.65% expense ratio is far above the 0.09% average of similar international funds. It also leans heavily on Asian chipmakers: TSMC, Samsung and SK hynix made up about 22% of assets as of July 31, 2026.
Price history
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PATN +24.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| PATN official prospectus, to Dec 31, 2025 | — | +39.46% | — | — | — | +28.27% |
| PATN price data to Oct 27, 2026 | +25.8% | +24.7% | — | — | — | +29.7% |
- Over the year to Oct 27, 2026, PATN returned +24.7%, 1st of 9 among similar funds.
- Its worst full calendar year was 2025 (+40.0%); its best was 2025 (+40.0%).
- The deepest fall in its price history was 16.8% (Mar 19, 2025 to Apr 8, 2025), recovered by May 19, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +25.8% | — |
| 2025 | +40.0% | +39.46% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1000 | |
| 2025 | $0.6100 |
What's inside
As of Jul 31, 2026, the fund held 100 securities; the ten largest made up 43.25% of assets.
| Holding | Weight | |
|---|---|---|
| TSMC | 10.63% | |
| Samsung Electronics Co Ltd | 6.51% | |
| SK hynix Inc | 5.31% | |
| ASML Holding NV | 4.50% | |
| Tencent Holdings Ltd | 4.08% | |
| Novartis AG | 2.62% | |
| Roche Holding AG | 2.54% | |
| Toyota Motor Corp | 2.51% | |
| Alibaba Group Holding Ltd | 2.37% | |
| Siemens AG | 2.20% | |
| Nestle SA | 2.19% | |
| L'Oreal SA | 2.06% | |
| SAP SE | 1.97% | |
| Schneider Electric SE | 1.78% | |
| Airbus SE | 1.73% |
By country
Japan 25.55%South Korea 14.65%Taiwan 14.55%Switzerland 9.65%China 8.84%By asset type
Stocks 99.59%Preferred stock 0.26%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $122.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +15.64%, -0.48%, -4.44%.
How it works
PATN tracks the Nasdaq International Patent Leaders Index, which Nasdaq established on June 24, 2024. The starting pool is every company in the Nasdaq Global Ex United States Large Mid Cap Index, which covers large and mid-sized companies based outside the US. An independent firm, IPR Strategies, estimates the dollar value of each company's patents. Its model draws on patent office records, corporate filings and prices paid for patents that have changed hands. The 100 companies with the highest patent values make the index. These values are model estimates, and the prospectus warns they may not be accurate.
The 100 picks are weighted by market capitalization, which is the total value of a company's shares, so the biggest companies get the biggest slices. As a result, TSMC alone was about 10.6% of the fund as of July 31, 2026, and the top 10 holdings were about 43%. The index changes its members and resets its weights twice a year, in June and December. Portfolio turnover was 7%.
Pacer Advisors generally buys every stock in the index rather than a sample. The fund is non-diversified, which means it may put more of its money in a single company than a diversified fund could. It uses no leverage or options. The prospectus expects heavy exposure to technology and to Japan, which was about 26% of assets. South Korea and Taiwan were each nearly 15%.
What it really costs
- PATN charges 0.65% a year, versus an average of 0.09% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PATN | $66 | $208 | $362 | $810 |
In a retirement portfolio
PATN is a concentrated, higher-cost slice of international stocks with less than three years of history, so it fits better as a small add-on than as a foundation.
PATN could add large foreign innovators such as TSMC, ASML and Novartis that a US-focused portfolio may lack. Its record is short, though. The fund launched on September 16, 2024, so it missed the 2008, 2020 and 2022 downturns. Its only full calendar year, 2025, gained 39.46%. Its deepest drop was 16.8%, from March 19 to April 8, 2025, and it recovered by May 19, 2025. Its beta of 1.45 means it has swung more than the broader market. Someone forced to sell shares in a slump could face sharper losses.
The yield was 1.86% over the 12 months through October 27, 2026, paid twice a year. At 0.65% a year, the SEC's standard example puts costs on $10,000 at $810 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want foreign stocks picked for patent strength, with heavy weights in TSMC, Samsung, SK hynix and ASML.
- Those willing to pay 0.65% a year, against a 0.09% average for similar international funds, for a specific rules-based approach.
- Long-term holders who can sit through sharp swings, like the 16.8% drop in spring 2025, in a small part of a portfolio.
Look elsewhere if
- Cost-focused investors: VXUS (0.05%) and VEU (0.04%) cover international stocks for a small fraction of PATN's 0.65% fee.
- Anyone who wants a long track record: the fund launched in September 2024 and missed the 2020 and 2022 market downturns.
- Income seekers: the yield was 1.86% over the 12 months through October 27, 2026, paid only twice a year.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| PATN this fund | — | 0.65% | $206.7M | +24.7% | — |
| IEMG iShares Core MSCI Emerging Markets ETF | 32% | 0.09% | $160.90B | +11.7% | +19.8% |
| VEU Vanguard FTSE All-World ex-US Index Fund | 24% | 0.04% | $95.84B | +13.4% | +20.6% |
| EFA iShares MSCI EAFE ETF | 23% | 0.32% | $77.98B | +13.5% | +18.2% |
| SCHF Schwab International Equity ETF | 23% | 0.06% | $69.68B | +17.7% | +20.4% |
| IXUS iShares Core MSCI Total International Stock… | 23% | 0.07% | $58.39B | +13.8% | +19.5% |
| VXUS Vanguard Total International Stock ETF | 22% | 0.05% | $645.86B | +12.9% | +20.3% |
| VWO Vanguard FTSE Emerging Markets ETF | 22% | 0.07% | $162.04B | +3.3% | +16.8% |
Questions investors ask
What does PATN invest in?
PATN holds 100 large and mid-sized companies based outside the US that have the most valuable patent portfolios, as estimated by IPR Strategies. It tracks the Nasdaq International Patent Leaders Index. As of July 31, 2026, the largest holdings were TSMC (10.6%), Samsung Electronics (6.5%), SK hynix (5.3%), ASML (4.5%) and Tencent (4.1%). Japan was the largest country at about 26% of assets, followed by South Korea and Taiwan at about 15% each.
Is PATN expensive compared with other international ETFs?
Yes. PATN's expense ratio is 0.65%, according to its prospectus filed August 27, 2026. The similar international funds it was compared with averaged 0.09%, and PATN ranked 9th of 9 on cost. In the SEC's standard example, $10,000 earning 5% a year would cost about $66 in the first year and $810 over 10 years. For comparison, Vanguard Total International Stock ETF (VXUS) charges 0.05%.
PATN vs IEMG: what's the difference?
Of the funds compared, IEMG overlaps most with PATN, about 32% by holdings, but the two are built differently. The iShares Core MSCI Emerging Markets ETF covers emerging markets broadly for 0.09% a year. PATN picks 100 patent-rich companies, including some in Japan and Switzerland, for 0.65%. PATN returned 24.7% over the year through October 27, 2026. IEMG returned 11.3% over the year through October 30, 2026.
Does PATN pay dividends?
Yes. PATN pays dividends twice a year, passing along income from the foreign companies it owns. Over the 12 months through October 27, 2026, it paid about $0.63 per share, a yield of 1.86%. The fund picks stocks for patent strength, not dividends, so income is a side effect rather than the goal. Foreign withholding taxes can also cut into the dividends paid by companies outside the US.
How has PATN performed since it launched?
It has done well so far, but over a short time. In 2025, its only full calendar year, PATN returned 39.46%. Its average annual return from its September 16, 2024 launch through December 31, 2025 was 28.27%, according to the prospectus. Based on price, it gained 24.7% over the year to October 27, 2026. It also fell 16.8% from March to April 2025, then recovered by May 19, 2025.