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 10/22/2026
TICKER FCTE
NET ASSETS $243M
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 $29.55
30 DAY MEDIAN BID-ASK SPREAD 0.001693

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 8.62% NA NA 7.60%
FCTE - Market Price 8.78% NA NA 7.67%
S&P 500 Index Total Return 15.74% NA NA 17.51%
1 MO 3 MO YTD Since Inception
FCTE - NAV -0.14% -0.14% -1.17% -1.17% 15.76% 15.76% 7.60% 7.60%
FCTE - Market Price 0.00% 0.00% -1.05% -1.05% 16.08% 16.08% 7.67% 7.67%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 17.51% 17.51%
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 10/22/2026

NET ASSET VALUE

$29.55

CLOSING PRICE

$29.54

PREMIUM/DISCOUNT

0.03%
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 10
Discount 60 51 36 43 6

Holdings

As of 10/22/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
FACTSET RESEARCH SYSTEMS INC FDS 6.09 14781900 BBG000BDJL83 44066
PAYCHEX INC PAYX 5.92 14369600 BBG000BQSQ38 120946
LOCKHEED MARTIN CORP LMT 5.70 13827500 BBG000C1BW00 23440
EBAY INC EBAY 5.67 13741100 BBG000C43RR5 112595
MONSTER BEVERAGE CORP MNST 5.58 13529500 BBG008NVB1C0 286035
Aon plc AON 5.43 13178000 BBG00SSQFPK6 42953
Old Dominion Freight Line Inc. ODFL 5.37 13033300 BBG000CHSS88 68636
WW GRAINGER INC GWW 5.37 13022800 BBG000BKR1D6 9575
GENERAL DYNAMICS CORP GD 5.22 12668800 BBG000BK67C7 36115
CBOE HOLDINGS INC CBOE 5.10 12372400 BBG000QH56C1 37753
TEXAS PACIFIC LAND TRUST TPL 5.03 12208000 BBG00YRJXKB1 36587
JOHNSON & JOHNSON JNJ 4.96 12037900 BBG000BMHYD1 44983
TEXAS INSTRUMENTS INC TXN 4.91 11897500 BBG000BVV7G1 42567
CISCO SYSTEMS INC CSCO 4.81 11655200 BBG000C3J3C9 111118
NORDSON CORP NDSN 4.78 11595600 BBG000BPWGR1 36383
JABIL CIRCUIT INC JBL 4.56 11063800 BBG000BJNGN9 41374
MONOLITHIC POWER SYSTEMS INC MPWR 4.27 10346700 BBG000C30L48 8859
ARISTA NETWORKS INC ANET 4.10 9948400 BBG01QQZBFH1 58154
APPLIED MATERIALS INC AMAT 3.59 8696930 BBG000BBPFB9 23156
LAM RESH CORP LRCX 3.42 8283100 BBG000BNFLM9 35990
CASH AND CASH EQUIVALENTS N/A 0.11 276967 N/A 276967

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.