USAI
Pacer American Energy Independence ETF
USAI tracks an index of US and Canadian MLPs involved in midstream energy infrastructure. The fund holds fixed percentages of different categories of holdings.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
75.2 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | Pacer Financial |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 12, 2017 |
| Assets (mns) | $75 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| KINDER MORGAN INC | 8.0 % |
| WILLIAMS COS INC | 8.0 % |
| ONEOK INC | 7.5 % |
| TRANSCANADA CORP | 7.4 % |
| ENERGY TRANSFER, L.P. | 6.8 % |
| ENBRIDGE INC | 6.6 % |
| TARGA RESOURCES CORP | 4.8 % |
| CHENIERE ENERGY INC | 4.4 % |
| ENTERPRISE PRODUCTS PARTNERS | 4.0 % |
| MPLX LP | 3.9 % |
Constituent Breakdown
| Number of holdings | 26 |
| Herfindahl-Hirschman Index | 500 |
| Wgt avg mkt cap (mns) | $35,548 |
| Large cap (>$10bn) | 67.8% |
| Mid cap ($2-10bn) | 18.4% |
| Small cap (<$2bn) | 9.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 76.8 % |
 |
CANADA | 22.8 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 31.2% | 40.9% | 20.5% | 19.3% | 17.6% | -- | 11.6% | Volatility | 13.3% | 13.7% | 16.1% | 20.5% | 31.6% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.84 | 49% |
| MSCI EAFE | 0.72 | 37% |
| MSCI Emg Mkts | 0.49 | 17% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $2,719 |
Technical Indicators
| Recent close | $41.78 |
| 30d moving avg. | $36.15 |
| Annualized volatility | 20.7% |
| Relative strength (RSI) | 59 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 2.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. USAI |
Expenses vs. USAI |
ALTAR Score™ vs. USAI |
|---|---|---|---|---|
| ENFR | Alerian Energy Infrastructure ETF | 78.5% | -40 bp | +1.0% |
| UMI | USCF Midstream Energy Income Fund ETF | 73.5% | +10 bp | +0.7% |
| TPYP | Tortoise North American Pipeline Fund | 66.0% | -35 bp | +1.3% |
| EINC | VanEck Energy Income ETF | 65.6% | -27 bp | +0.6% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 62.3% | -30 bp | +0.8% |
| EMLP | First Trust North American Energy Infrastructure Fund | 41.9% | +20 bp | +1.5% |
| EIPI | FT Energy Income Partners Enhanced Income ETF | 40.5% | +35 bp | +2.2% |
| TOLZ | ProShares DJ Brookfield Global Infrastructure ETF | 33.3% | -29 bp | +2.0% |
| EIPX | FT Energy Income Partners Strategy ETF | 29.4% | +20 bp | +3.0% |
| AMZA | InfraCap MLP ETF | 28.8% | +89 bp | +1.2% |
Risk and Returns: USAI vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
USAI
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
USAI
2.9%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. USAI's ALTAR Score™ is approximately
1.0 standard deviations
below
the category average. This places USAI in the 15th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
USAISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| USAI (75 bp) Percentile rank | 81 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| USAI | 75.0 | 20.0 | 95 |
| Peer Avg. | 46.6 | 16.9 | 63.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .