TRND offers exposure to 4 popular Pacer ETFs, each of which contains the ability to toggle to cash. TRND always holds the same 4 funds. It weights the 3 US funds at 20% each and the developed ex-US fund at 40%. The underlying funds use 200-day moving averages of their respective equity components as a signal to toggle to or from 50% or 100% cash. (Consider checking the performance of each underlying fund to gauge the frequency and effectiveness of the toggle.) The underlying funds focus on the S&P 500, the S&P 400, the Nasdaq 100 and S&P Developed ex-US large caps. Indexing purists might point out overlaps in aggregate across the US indexes, but the components are clearly identified and well-known. Footnote: The TRND ticker originally applied to an RBC ETN.