At a glance
PTNQ charges 0.65% a year, above the 0.1% average of the 5 funds most like it (the most expensive of 6). It has $1.19B in assets, the 6th largest of that group; it paid 0.79% of its price in distributions over the past 12 months, annual. Over the past year it returned +8.1% with distributions reinvested (S&P 500: +11.5%), the weakest of those 6 funds; over three years it returned +14.5% a year. At its worst it fell 28.1% in the 2020 crash (S&P 500: 33.7%) and 17.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 7 months after the lows. Its ten largest positions make up 46.4% of the fund, out of 103 in all.
The short version
Pacer Trendpilot 100 ETF (PTNQ) tracks the Pacer NASDAQ-100 Trendpilot Index. The index holds NASDAQ-100 stocks while that index stays above its 200-day moving average. When it falls below, the index shifts to half or all 3-month US Treasury bills. The fund offers Nasdaq-100 growth with a rules-based exit plan, but it costs 0.65% a year. Funds with similar holdings average 0.10%.
Price history
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PTNQ +8.1% 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 | |
|---|---|---|---|---|---|---|
| PTNQ official prospectus, to Dec 31, 2025 | — | +7.08% | — | +9.69% | +13.39% | +12.19% |
| PTNQ price data to Oct 27, 2026 | +10.6% | +8.1% | +14.5% | +9.7% | +15.1% | +13.6% |
- Over the year to Oct 27, 2026, PTNQ returned +8.1%, 6th of 6 among similar funds.
- Its 5-year annualized return was +9.7% and its 10-year +15.1%.
- In the 2020 COVID crash it fell 28.1% and regained its old high 3.8 months after the low.
- Its worst full calendar year was 2022 (-16.0%); its best was 2023 (+34.6%).
- The deepest fall in its price history was 28.1% (Feb 19, 2020 to Mar 16, 2020), recovered by Jul 9, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.6% | — |
| 2025 | +7.2% | +7.08% |
| 2024 | +15.5% | +15.58% |
| 2023 | +34.6% | +34.85% |
| 2022 | -16.0% | -16.25% |
| 2021 | +13.2% | +13.60% |
| 2020 | +29.4% | +28.96% |
| 2019 | +24.0% | +24.22% |
| 2018 | +8.5% | +8.85% |
| 2017 | +32.7% | +32.06% |
| 2016 | -1.7% | -3.89% |
| 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 | Lost 26.6% over that stretch · deepest drop along the way 28.1%, back to its old high 3.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.7% over that stretch · deepest drop along the way 17.7%, back to its old high 7.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.6900 | -52.4% |
| 2024 | $1.4500 | +51.0% |
| 2023 | $0.9600 | +209.7% |
| 2022 | $0.3100 | +287.5% |
| 2020 | $0.0800 | -55.6% |
| 2019 | $0.1800 | +20.0% |
| 2018 | $0.1500 | +50.0% |
| 2017 | $0.1000 | +42.9% |
| 2016 | $0.0700 |
What's inside
As of Jul 31, 2026, the fund held 103 securities; the ten largest made up 46.41% of assets, and 2.82% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 8.06% | |
| Apple Inc | 7.52% | |
| Microsoft Corp | 5.72% | |
| Amazon.com Inc | 4.84% | |
| Micron Technology Inc | 4.25% | |
| Advanced Micro Devices Inc | 3.55% | |
| Alphabet Inc | 3.44% | |
| Alphabet Inc | 3.23% | |
| Broadcom Inc | 3.06% | |
| Meta Platforms Inc | 2.73% | |
| Tesla Inc | 2.58% | |
| Walmart Inc | 2.48% | |
| Cisco Systems Inc | 2.09% | |
| Intel Corp | 2.08% | |
| Costco Wholesale Corp | 1.93% |
By country
United States 96.43%Netherlands 1.36%Canada 0.83%United Kingdom 0.69%Uruguay 0.44%By asset type
Stocks 100.01%By sector
Sectors of the companies held, for the 89.8% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $90.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +10.56%, -0.20%, -6.63%.
How it works
PTNQ is an index fund from Pacer Advisors. It follows the Pacer NASDAQ-100 Trendpilot Index, which was built by Index Design Group, a Pacer affiliate. The index uses fixed rules to move among three positions: 100% in the NASDAQ-100, 50% in the NASDAQ-100 and 50% in 3-month US Treasury bills, or 100% in T-bills. The NASDAQ-100 holds about 100 of the largest non-financial companies listed on Nasdaq, chosen by market value. As of July 31, 2026, the fund was fully in stocks. Its largest holdings were NVIDIA (8.1%), Apple (7.5%) and Microsoft (5.7%).
The signals compare the NASDAQ-100 with its 200-day moving average. That is the average of its last 200 daily closes, with dividends included. Five straight closes below the average move the index to 50/50. If the average itself then closes lower than it did five business days earlier, the index moves fully to T-bills. Five straight closes above the average move it back to 100% stocks. The index can't jump straight from all stocks to all T-bills without passing through 50/50 first. Each change takes effect about two business days after the signal.
Because the rules wait for a trend to show, the fund can fall sharply before it moves. It can also sell after a drop and buy back after a rebound. It may stay in one position for long stretches, and the 50/50 split drifts with performance. Portfolio turnover, the share of holdings replaced in a year, was 66%.
What it really costs
- PTNQ charges 0.65% a year, versus an average of 0.1% for the similar funds below (6th of 6, 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 |
|---|---|---|---|---|
| PTNQ | $66 | $208 | $362 | $810 |
In a retirement portfolio
PTNQ is a concentrated, tech-heavy fund with a tactical overlay, and it still had deep losses, so it fits better as a smaller slice than as a core holding.
PTNQ's trend rules did not prevent steep losses in the downturns it has been through. It launched in 2015, so it has no 2008 record. In the 2020 COVID crash it fell 28.1% between February 19 and March 16, 2020, which is its deepest drop. It recovered by July 9, 2020, about 3.8 months later. In the 2022 bear market it fell 17.7% and took 7.4 months to recover, until May 26, 2023. Its worst calendar year was 2022, at -16.25%. A retiree selling shares in a year like that would lock in losses. The yield was 0.79% as of October 27, 2026, paid once a year, so it adds little income. Costs are high: the SEC's standard example puts them at $810 over 10 years on $10,000. Past results don't predict future ones, 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 NASDAQ-100 exposure with fixed rules that can shift to Treasury bills when the index stays below its 200-day average.
- Those comfortable with heavy tech exposure: technology was 52% of the portfolio as of July 31, 2026, led by NVIDIA, Apple and Microsoft.
- People willing to pay 0.65% a year and accept possible lag in rebounds in exchange for preset, mechanical exit rules.
Look elsewhere if
- Cost-focused investors: plain S&P 500 funds with overlapping holdings, such as SPYM at 0.02%, charge far less than PTNQ's 0.65%.
- Anyone expecting protection from fast crashes: PTNQ still fell 28.1% between February 19 and March 16, 2020.
- Income seekers: the trailing 12-month yield was 0.79% as of October 27, 2026, and the fund pays only once a year.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| PTNQ this fund | — | 0.65% | $1.19B | +8.1% | +14.5% |
| SPYM SPDR Portfolio S&P 500 ETF | 54% | 0.02% | $153.92B | +11.5% | +22.0% |
| SPYV SPDR Portfolio S&P 500 Value ETF | 33% | 0.04% | $35.30B | +16.8% | +17.8% |
| IVE iShares S&P 500 Value ETF | 32% | 0.18% | $47.74B | +16.7% | +17.7% |
| IWD iShares Russell 1000 Value ETF | 28% | 0.19% | $79.74B | +28.8% | +22.2% |
| DGRO iShares Core Dividend Growth ETF | 21% | 0.08% | $42.77B | +21.8% | +20.6% |
Questions investors ask
How does PTNQ Trendpilot work?
PTNQ follows rules that compare the NASDAQ-100 with its 200-day moving average. Five straight closes below the average move the fund to 50% stocks and 50% 3-month Treasury bills. If the average itself then declines over five business days, the fund goes fully to T-bills. Five straight closes above the average return it to 100% NASDAQ-100 stocks. Each change takes effect about two business days after the signal.
Did PTNQ protect against the 2022 bear market?
Only partly. PTNQ lost 16.25% in calendar 2022, according to its prospectus. From January 3 to October 12, 2022, it fell 17.7%, and it didn't regain its peak until May 26, 2023. In 2020 its deepest drop was 28.1%, though it recovered in about 3.8 months. The trend signals need several days to confirm a move, so sharp, fast declines can do damage before the fund shifts to T-bills.
What's the difference between PTNQ and SPYM?
SPYM is a plain S&P 500 index fund that shares about 54% of its holdings with PTNQ, but it does not switch to Treasury bills. It costs 0.02% a year versus PTNQ's 0.65%. As of October 30, 2026, SPYM returned 12.4% over one year and 23.6% a year over three years. As of October 27, 2026, PTNQ returned 8.1% and 14.5% a year over the same periods.
Does PTNQ pay dividends?
Yes, but only once a year, and the amount is small. Over the 12 months to October 27, 2026, PTNQ paid $0.69 per share, a yield of 0.79%. The payout comes from dividends on its NASDAQ-100 stocks, plus interest on Treasury bills when the fund holds them. Many of its largest holdings, such as NVIDIA and Amazon, are growth companies that pay little or nothing in dividends.
What is PTNQ's expense ratio?
PTNQ's expense ratio is 0.65% a year, according to its prospectus filed August 27, 2026. That makes it the most expensive of six funds compared by holdings overlap, which average 0.10%. In the SEC's standard example, $10,000 earning 5% a year would cost about $66 in the first year, $362 over five years and $810 over ten years.