At a glance
TRND charges 0.77% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $61.9M in assets, the 8th largest of that group; it paid 2.13% of its price in distributions over the past 12 months, annual. Over the past year it returned +8.6% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +12.7% a year. At its worst it fell 15.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 16 months after the low.
The short version
Pacer Trendpilot Fund of Funds ETF (TRND) is a fund of funds. It splits its money about equally among five Pacer Trendpilot ETFs that cover US large caps, US mid caps, the Nasdaq-100, developed international stocks and high-yield bonds. Each of those funds follows a trend rule that moves it toward Treasuries when its market falls below a long-term average. Its 0.77% expense ratio includes two layers of fees.
Price history
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TRND +8.6% 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 | |
|---|---|---|---|---|---|---|
| TRND official prospectus, to Dec 31, 2025 | — | +5.89% | — | +5.71% | — | +6.07% |
| TRND price data to Oct 27, 2026 | +8.6% | +8.6% | +12.7% | +5.4% | — | +8.4% |
- Over the year to Oct 27, 2026, TRND returned +8.6%, 8th of 8 among similar funds.
- Its 5-year annualized return was +5.4%.
- Its worst full calendar year was 2022 (-15.4%); its best was 2023 (+16.5%).
- The deepest fall in its price history was 16.2% (Dec 29, 2021 to Dec 28, 2022), recovered by Feb 9, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +8.6% | — |
| 2025 | +6.0% | +5.89% |
| 2024 | +12.0% | +11.88% |
| 2023 | +16.5% | +16.40% |
| 2022 | -15.4% | -15.17% |
| 2021 | +12.9% | +12.85% |
| 2020 | — | +4.72% |
| 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 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.7% over that stretch · deepest drop along the way 15.9%, back to its old high 15.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.7800 | +4.0% |
| 2024 | $0.7500 | 0.0% |
| 2023 | $0.7500 | +63.0% |
| 2022 | $0.4600 | +58.6% |
| 2021 | $0.2900 |
What's inside
As of Jul 31, 2026, the fund held 5 securities; the ten largest made up 99.96% of assets.
| Fund held | Weight | |
|---|---|---|
| Pacer Trendpilot US Large Cap ETF | 20.47% | |
| Pacer Trendpilot International ETF | 20.15% | |
| Pacer Trendpilot US Bond ETF | 20.03% | |
| Pacer Trendpilot US Mid Cap ETF | 19.80% | |
| Pacer Funds Trust - Pacer Trendpilot 100 ETF | 19.51% |
By country
United States 99.96%By asset type
Stocks 99.96%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $3.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.74%, +0.51%, -1.92%.
How it works
TRND tracks the Pacer Trendpilot Fund of Funds Index. Index Design Group, an affiliate of the adviser, Pacer Advisors, built the index. At each quarterly rebalance, the index puts 20% in each of five Pacer ETFs: US Large Cap (S&P 500), US Mid Cap (S&P MidCap 400), Trendpilot 100 (Nasdaq-100), International (S&P Developed Ex-U.S. LargeCap) and US Bond. As of July 31, 2026, each one made up between 19.5% and 20.5% of the fund.
Each stock fund uses its index's 200-day moving average, which is the average level over the past 200 business days. If the index closes above that line for five business days in a row, the fund holds 100% stocks. After five closes in a row below it, the fund moves to 50% stocks and 50% 3-month Treasury bills. A further signal can move it entirely into T-bills. Each switch takes effect on the second business day after the signal.
The bond fund compares high-yield ("junk") bonds with 7–10 year Treasuries. It tracks the ratio between the two against its 100-day average and holds 100% high yield, a 50/50 mix or 100% Treasuries depending on the signal. Any of these positions can last a long time. When markets reverse sharply, the signals can switch at the wrong moment. The prospectus lists portfolio turnover of 6%.
What it really costs
- TRND charges 0.77% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Of that, 0.15% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $79 in the first year and $954 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| TRND | $79 | $246 | $428 | $954 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
Its trend rules are designed to cut stock exposure in falling markets, and its one-year beta was 0.42 as of October 27, 2026.
TRND moved much less than the stock market over the year to October 27, 2026, but its protection has limits. It fell 15.17% in 2022, its worst calendar year. Its deepest drop was 16.2%, from December 2021 to December 2022, and it did not regain that peak until February 2024. Trend signals react with a delay, so sudden crashes still hurt: the first quarter of 2020 was its worst quarter, down 13.36%. The fund launched in 2019, so it has no record from 2008. A retiree who had to sell shares in 2022 would have sold at a loss. Income is modest: the trailing yield was 2.13% as of October 27, 2026, paid once a year. In the SEC's standard example, costs come to $79 in the first year on $10,000. 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 fixed, rules-based signals to cut stock exposure, using 200-day moving averages instead of a manager's judgment.
- People who want one ticker spread across US large and mid caps, the Nasdaq-100, international stocks and high-yield bonds.
- Holders who can wait out slow recoveries, like the 2022 drop that took until February 2024 to regain its peak.
Look elsewhere if
- Cost-focused investors: the 0.77% expense ratio is far above the 0.15% management fee, reaching $954 over 10 years in the SEC example.
- Those who need regular income: the 2.13% trailing yield as of October 27, 2026 was paid only once a year.
- Investors wary of small funds: net assets were about $61.9 million as of July 31, 2026, the smallest in its comparison group.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| TRND this fund | 0.77% | $61.9M | +8.6% | +12.7% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Is TRND good for retirement?
TRND may suit retirees who want rules that reduce stock exposure when markets trend down. It moved far less than the market over the year to October 27, 2026, with a beta of 0.42. Still, it lost 15.17% in 2022 and needed until February 2024 to regain its earlier peak. It yields 2.13%, paid once a year, and charges a 0.77% expense ratio. It fits best when weighed as one part of a wider portfolio.
How does the Pacer Trendpilot strategy work?
Each underlying stock fund compares its index with that index's 200-day moving average. After five closes in a row above the average, the fund holds 100% stocks. After five closes in a row below it, the fund moves to 50% stocks and 50% 3-month Treasury bills, and a further signal can take it fully into T-bills. The bond fund switches between high-yield bonds and 7–10 year Treasuries. TRND resets to 20% in each of the five funds every quarter.
Does TRND pay dividends?
Yes, but only once a year. Over the 12 months to October 27, 2026, TRND paid $0.78 per share, a trailing yield of 2.13%. That is less often than many income funds, which pay monthly or quarterly. Because the underlying funds shift between stocks, Treasury bills and bonds, the payout can change from year to year. Investors who depend on steady cash flow may find a single yearly payment harder to plan around.
What's the difference between TRND and BUFR?
They take different routes to managing risk. TRND uses trend signals to move between stocks, bonds and Treasuries. BUFR, from FT Vest, is a laddered buffer fund that uses options to limit losses within set ranges. TRND costs less, at 0.77% against BUFR's 0.95%. As of October 27, 2026, TRND returned 8.6% over one year and 12.7% a year over three years. BUFR returned 11.6% and 16.8%. BUFR is also much larger.
What is TRND's 5-year return?
According to the prospectus, TRND returned 5.71% a year on average over the five years to December 31, 2025. Its one-year return to that date was 5.89%, and it averaged 6.07% a year since its May 2019 launch. Based on prices, the five-year return was 5.4% a year as of October 27, 2026. The weakest year in that span was 2022, down 15.17%. The strongest was 2023, up 16.4%.