FCTE

SMI 3FOURTEEN FULL-CYCLE TREND ETF

ETF Market Price

Overview

Fund Objective

The SMI 3Fourteen Full-Cycle Trend ETF seeks long-term capital appreciation.

Fund Description

The ETF is actively managed and typically owns 20 domestic stocks drawn from within the S&P 500 index constituents. The stocks are chosen using a Full-Cycle Trend ("FCT") strategy. The FCT model uses a proprietary Quality screen to narrow the potential universe, then applies a variety of proprietary Trend and Momentum screens to select the ETF's portfolio.

Each month the screens are rerun to determine which stocks should remain in the portfolio. This is typically a high-turnover strategy, so the ability afforded to ETFs to minimize portfolio-generated capital gains can provide a significant advantage over implementing FCT and owning the 20 stocks directly.

The goal of this strategy is to identify and own stocks that can outperform the S&P 500 across the entire market cycle.

NAV Historical Change

Fund Details

As of 06/09/2025
TICKER FCTE
NET ASSETS $425M
TYPE Active Equity ETF
CUSIP 26923N512
ISIN US26923N5124
PRIMARY EXCHANGE NASDAQ
INCEPTION DATE 07/02/2024
GROSS EXPENSE RATIO 0.89%
NET EXPENSE RATIO* 0.85%
TYPICAL # OF HOLDINGS 20
ADVISOR 3Fourteen & SMI Advisory Services
FUND DISTRIBUTOR Foreside Fund Services, LLC
NAV $26.30
30 DAY MEDIAN BID-ASK SPREAD 0.001511

Fee Breakdown

ANNUAL FUND OPERATING EXPENSES
- MANAGEMENT FEE* 0.85%
- DISTRIBUTION AND/OR SERVICE (12B-1) FEES 0.00%
- OTHER EXPENSES 0.00%
TOTAL FEES: 0.85%

Performance

1 YR 3 YRS 5 YRS Since Inception
FCTE - NAV N/A N/A N/A N/A
FCTE - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
FCTE - NAV 4.10% -5.12% -0.49% -3.12% 1.60% -3.12% 7.53% 2.53%
FCTE - Market Price 3.87% -4.94% -0.44% -3.07% -1.52% -3.07% 7.32% 2.47%
S&P 500 Index Total Return 6.29% -5.63% -0.37% -4.27% -1.60% -4.27% 9.29% 3.52%
FCTE 2024
NAV 5.83%
MARKET PRICE 5.72%
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Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call (844) 328-3383.

The S&P 500 index is an unmanaged index commonly used to measure the performance of U.S. stocks. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM passthroughs), ABS, and CMBS. You cannot invest directly in an index.

Short-term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. Shares of the Fund are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 pm EST (when NAV is normally calculated) and do not represent the returns you would receive if you traded shares at other times. Brokerage commissions will reduce returns. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense reimbursements or recoupments and fee waivers in effect during certain periods shown. Absent these reimbursements or recoupments and fee waivers, results would have been less favorable.

Premium Discount

Premium: When a Fund’s market price exceeds its net asset value per share (“NAV”) on a given trading day, expressed as a percentage of the Fund’s NAV.
Discount: When a Fund’s market price is below its net asset value per share (“NAV”) on a given trading day expressed as a percentage of the Fund’s NAV.
# of Days 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Premium 0 58 58 40 25
Discount 0 5 6 20 23

Holdings

As of 06/09/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
ARISTA NETWORKS INC ANET 5.64 23973100 BBG01QQZBFH1 247656
CORPAY INC COMMON STOCK CPAY 5.25 22295500 BBG000GPXKX9 65049
VERISIGN INC VRSN 5.16 21914000 BBG000BGKHZ3 78298
F5 Inc FFIV 5.16 21912900 BBG000CXYSZ6 74349
APPLE INC AAPL 5.05 21456400 BBG000B9XRY4 106510
FAIR ISAAC CORP FICO 5.04 21418000 BBG000DW76Y6 12243
UNITEDHEALTH GROUP INC UNH 5.01 21276100 BBG000CH5208 70174
SNAP-ON INC SNA 5.01 21275000 BBG000BT7JW9 66327
MSCI INC MSCI 4.98 21164900 BBG000RTDY25 37930
WATERS CORP WAT 4.98 21157200 BBG000FQRVM3 60739
MOTOROLA SOLUTIONS INC MSI 4.95 21043000 BBG000BP8Z50 50980
WAL-MART STORES INC WMT 4.95 21028200 BBG000BWXBC2 215784
OREILLY AUTOMOTIVE INC ORLY 4.93 20925200 BBG000BGYWY6 15522
AUTOZONE INC AZO 4.92 20905600 BBG000C7LMS8 5654
COPART INC CPRT 4.91 20839600 BBG000BM9RH1 415545
COSTCO WHOLESALE CORP COST 4.85 20595500 BBG000F6H8W8 20469
3M CO MMM 4.84 20546400 BBG000BP52R2 142456
BROWN & BROWN INC BRO 4.77 20280600 BBG000BWSGF4 188027
MARSH & MCLENNAN COS MMC 4.76 20236400 BBG000BP4MH0 90942
Aon plc AON 4.75 20165500 BBG00SSQFPK6 56992
CASH AND CASH EQUIVALENTS N/A 0.10 423378 N/A 423378

How To Invest

Buy Through Your Brokerage

FCTE and RAA can be purchased, like most other ETFs, in Brokerage Accounts held at firms like Schwab, Fidelity, etc.

Further Assistance

If you have any additional inquiries or questions about 3FourteenSMI, please contact us at 844-328-3383. Our team is here to assist you with all your investment needs.