FCTE

SMI 3FOURTEEN FULL-CYCLE TREND ETF

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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 10/01/2026
TICKER FCTE
NET ASSETS $239M
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 $29.25
30 DAY MEDIAN BID-ASK SPREAD 0.001717

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 10.60% NA NA 7.97%
FCTE - Market Price 10.72% NA NA 7.97%
S&P 500 Index Total Return NA NA NA 18.42%
1 MO 3 MO YTD Since Inception
FCTE - NAV -0.60% 8.56% 7.44% 18.43% 15.92% 17.13% 7.97% 9.24%
FCTE - Market Price -0.67% 8.63% 7.49% 18.50% 16.08% 17.31% 7.97% 9.25%
S&P 500 Index Total Return 2.72% -0.95% 1.68% 15.20% 13.14% 10.21% 18.42% 18.57%
FCTE 2024 2025
NAV 5.83% -3.77%
MARKET PRICE 5.72% -3.80%
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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

As of 10/01/2026

NET ASSET VALUE

$29.25

CLOSING PRICE

$29.26

PREMIUM/DISCOUNT

0.02%
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 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 3 10 25 21 1
Discount 60 51 36 43 0

Holdings

As of 10/01/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
JABIL CIRCUIT INC JBL 5.15 12309700 BBG000BJNGN9 41061
APPLIED MATERIALS INC AMAT 5.10 12204600 BBG000BBPFB9 23058
LAM RESH CORP LRCX 5.10 12190200 BBG000BNFLM9 35843
TEXAS PACIFIC LAND TRUST TPL 5.09 12174800 BBG00YRJXKB1 36185
FACTSET RESEARCH SYSTEMS INC FDS 5.07 12131000 BBG000BDJL83 43698
WW GRAINGER INC GWW 5.07 12128500 BBG000BKR1D6 9463
Old Dominion Freight Line Inc. ODFL 5.05 12079800 BBG000CHSS88 67826
PAYCHEX INC PAYX 5.04 12057100 BBG000BQSQ38 119567
MONSTER BEVERAGE CORP MNST 4.99 11935500 BBG008NVB1C0 283234
CISCO SYSTEMS INC CSCO 4.98 11908700 BBG000C3J3C9 109495
MONOLITHIC POWER SYSTEMS INC MPWR 4.98 11908500 BBG000C30L48 8750
CBOE HOLDINGS INC CBOE 4.96 11864800 BBG000QH56C1 42804
ARISTA NETWORKS INC ANET 4.95 11841800 BBG01QQZBFH1 57909
TEXAS INSTRUMENTS INC TXN 4.95 11838900 BBG000BVV7G1 42085
NORDSON CORP NDSN 4.95 11825000 BBG000BPWGR1 35940
GENERAL DYNAMICS CORP GD 4.94 11816200 BBG000BK67C7 35514
EBAY INC EBAY 4.92 11763700 BBG000C43RR5 111094
Aon plc AON 4.91 11749700 BBG00SSQFPK6 42579
LOCKHEED MARTIN CORP LMT 4.89 11703800 BBG000C1BW00 23153
JOHNSON & JOHNSON JNJ 4.81 11513500 BBG000BMHYD1 44512
CASH AND CASH EQUIVALENTS N/A 0.08 180202 N/A 180202

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.