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 09/17/2025
TICKER FCTE
NET ASSETS $317M
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 $26.60
30 DAY MEDIAN BID-ASK SPREAD 0.000757

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 -2.23% N/A N/A 5.33%
FCTE - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return 16.33% N/A N/A 16.00%
1 MO 3 MO YTD Since Inception
FCTE - NAV 0.90% 0.92% -0.73% 5.84% 0.86% 2.54% 6.74% 8.52%
FCTE - Market Price 0.89% 1.14% -0.65% 5.93% 0.86% 2.68% 6.37% 8.55%
S&P 500 Index Total Return 2.03% 5.09% 9.62% 10.94% 10.79% 6.20% 19.81% 14.85%
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 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Premium 58 58 40 33 8
Discount 5 6 20 29 47

Holdings

As of 09/17/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
ORACLE CORP ORCL 6.54 20751500 BBG000BQLTW7 68848
KLA CORPORATION KLAC 5.58 17696900 BBG000BMTFR4 17878
WAL-MART STORES INC WMT 5.28 16737400 BBG000BWXBC2 160520
VERISIGN INC VRSN 5.17 16379600 BBG000BGKHZ3 56919
F5 Inc FFIV 5.09 16134800 BBG000CXYSZ6 49828
COSTCO WHOLESALE CORP COST 5.02 15922700 BBG000F6H8W8 16534
MCKESSON CORP MCK 4.96 15739500 BBG000DYGNW7 22737
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 4.96 15734700 BBG000B9ZXB4 117274
MASTERCARD INC - A MA 4.94 15663800 BBG000F1ZSQ2 26166
CBOE HOLDINGS INC CBOE 4.93 15623700 BBG000QH56C1 65934
Rollins Inc ROL 4.88 15472900 BBG000BSBBP1 275613
CADENCE DESIGN SYS INC CDNS 4.87 15452800 BBG000C13CD9 44498
PHILIP MORRIS INTERNATIONAL PM 4.86 15411700 BBG000J2XL74 92674
VISA INC-CLASS A SHARES V 4.83 15329400 BBG000PSKYX7 44279
REPUBLIC SERVICES INC RSG 4.75 15074600 BBG000BPXVJ6 66622
CORPAY INC COMMON STOCK CPAY 4.68 14855300 BBG000GPXKX9 47823
CINTAS CORP CTAS 4.68 14831900 BBG000H3YXF8 74167
PAYCHEX INC PAYX 4.67 14815500 BBG000BQSQ38 111849
AUTOMATIC DATA PROCESSING ADP 4.67 14804200 BBG000JG0547 51270
VERISK ANALYTICS INC VRSK 4.58 14512200 BBG000BCZL41 58121
CASH AND CASH EQUIVALENTS N/A 0.06 179834 N/A 179834

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.