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 07/10/2025
TICKER FCTE
NET ASSETS $419M
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 $26.54
30 DAY MEDIAN BID-ASK SPREAD 0.001145

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 0.92% -5.12% 5.84% -3.12% 2.54% -3.12% 8.52% 2.53%
FCTE - Market Price 1.14% -4.94% 5.93% -3.07% 2.68% -3.07% 8.55% 2.47%
S&P 500 Index Total Return 5.09% -5.63% 10.94% -4.27% 6.20% -4.27% 14.85% 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 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Premium 58 58 40 33 0
Discount 5 6 20 29 7

Holdings

As of 07/10/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
3M CO MMM 5.17 21626900 BBG000BP52R2 137471
OREILLY AUTOMOTIVE INC ORLY 5.15 21544100 BBG000BGYWY6 233212
SNAP-ON INC SNA 5.13 21483400 BBG000BT7JW9 66989
AUTOZONE INC AZO 5.08 21278400 BBG000C7LMS8 5707
WATERS CORP WAT 5.06 21173100 BBG000FQRVM3 59933
CORPAY INC COMMON STOCK CPAY 5.06 21166000 BBG000GPXKX9 63054
F5 Inc FFIV 5.04 21084700 BBG000CXYSZ6 70308
MASTERCARD INC - A MA 5.03 21075100 BBG000F1ZSQ2 37399
Aon plc AON 5.02 21027000 BBG00SSQFPK6 58571
PAYCHEX INC PAYX 5.02 20993200 BBG000BQSQ38 144472
VISA INC-CLASS A SHARES V 5.01 20973800 BBG000PSKYX7 58935
AUTOMATIC DATA PROCESSING ADP 4.99 20880800 BBG000JG0547 68278
MOTOROLA SOLUTIONS INC MSI 4.96 20776100 BBG000BP8Z50 49737
MARSH & MCLENNAN COS MMC 4.93 20617500 BBG000BP4MH0 96025
COSTCO WHOLESALE CORP COST 4.92 20607400 BBG000F6H8W8 21241
COPART INC CPRT 4.92 20586800 BBG000BM9RH1 428982
WAL-MART STORES INC WMT 4.89 20457800 BBG000BWXBC2 215663
MCKESSON CORP MCK 4.88 20440800 BBG000DYGNW7 28607
BROWN & BROWN INC BRO 4.88 20435700 BBG000BWSGF4 189553
REPUBLIC SERVICES INC RSG 4.87 20383900 BBG000BPXVJ6 84901
CASH AND CASH EQUIVALENTS N/A -0.01 -28918.2 N/A -28918.2

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.