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 04/30/2026
TICKER FCTE
NET ASSETS $231M
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 $27.10
30 DAY MEDIAN BID-ASK SPREAD 0.001447

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 -1.32% N/A N/A 5.49%
FCTE - Market Price -1.48% N/A N/A 5.47%
S&P 500 Index Total Return 16.35% N/A N/A 17.60%
1 MO 3 MO YTD Since Inception
FCTE - NAV -8.26% -8.26% -1.09% -1.09% -1.09% -1.09% 0.42% 0.42%
FCTE - Market Price -8.19% -8.19% -1.00% -1.00% -1.00% -1.00% 0.40% 0.40%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 12.03% 12.03%
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 04/30/2026

NET ASSET VALUE

$27.10

CLOSING PRICE

$27.11

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 33 8 3 10 4
Discount 29 56 60 51 16

Holdings

As of 04/30/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
TEXAS PACIFIC LAND TRUST TPL 5.08 11726500 BBG00YRJXKB1 26430
PARKER-HANNIFIN CORP COMMON STOCK USD 0.5 PH 5.03 11606900 BBG000BR3KL6 12763
GENERAL DYNAMICS CORP GD 5.03 11599500 BBG000BK67C7 33689
LOCKHEED MARTIN CORP LMT 5.02 11587200 BBG000C1BW00 22370
APPLIED MATERIALS INC AMAT 5.02 11585000 BBG000BBPFB9 29367
LAM RESH CORP LRCX 5.01 11562400 BBG000BNFLM9 44840
ALPHABET INC-CL A GOOGL 5.01 11562500 BBG009S39JX6 30048
MCKESSON CORP MCK 5.01 11557900 BBG000DYGNW7 14178
NORDSON CORP NDSN 5.01 11557600 BBG000BPWGR1 40068
PEPSICO INC PEP 5.00 11539300 BBG000DH7JK6 72803
JOHNSON & JOHNSON JNJ 5.00 11535800 BBG000BMHYD1 50186
Allegion Public Limited Company ALLE 5.00 11533200 BBG003PS7JV1 83890
IDEXX LABS IDXX 5.00 11528900 BBG000BLRT07 20558
LEIDOS HOLDINGS INC LDOS 5.00 11527500 BBG000C23PB0 77252
METTLER-TOLEDO MTD 5.00 11526600 BBG000BZCKH3 9029
MONSTER BEVERAGE CORP MNST 4.99 11522700 BBG008NVB1C0 149509
LOWES COS INC LOW 4.99 11503900 BBG000BNDN65 48176
HCA HEALTHCARE INC HCA 4.97 11466900 BBG000QW7VC1 26394
CARDINAL HEALTH INC CAH 4.96 11454600 BBG000D898T9 59387
ELI LILLY & CO LLY 4.95 11428300 BBG000BNBDC2 12228
CASH AND CASH EQUIVALENTS N/A -0.08 -173210 N/A -173210

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.