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 05/28/2026
TICKER FCTE
NET ASSETS $230M
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 $27.20
30 DAY MEDIAN BID-ASK SPREAD 0.001513

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 9.91% -8.26% 1.71% -1.09% 8.71% -1.09% 5.72% 0.42%
FCTE - Market Price 9.98% -8.19% 1.76% -1.00% 8.88% -1.00% 5.73% 0.40%
S&P 500 Index Total Return 10.49% -4.98% 4.19% -4.33% 5.70% -4.33% 17.71% 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 05/28/2026

NET ASSET VALUE

$27.20

CLOSING PRICE

$27.20

PREMIUM/DISCOUNT

0.01%
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 15
Discount 29 56 60 51 24

Holdings

As of 05/28/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
LAM RESH CORP LRCX 6.14 14094700 BBG000BNFLM9 44323
ELI LILLY & CO LLY 5.99 13743600 BBG000BNBDC2 12197
APPLIED MATERIALS INC AMAT 5.69 13060500 BBG000BBPFB9 29044
MONSTER BEVERAGE CORP MNST 5.69 13060000 BBG008NVB1C0 148426
CARDINAL HEALTH INC CAH 5.17 11862500 BBG000D898T9 59357
LOCKHEED MARTIN CORP LMT 5.16 11854100 BBG000C1BW00 22066
ALPHABET INC-CL A GOOGL 5.06 11624300 BBG009S39JX6 29796
GENERAL DYNAMICS CORP GD 5.04 11575000 BBG000BK67C7 33170
IDEXX LABS IDXX 5.04 11566800 BBG000BLRT07 20363
JOHNSON & JOHNSON JNJ 5.00 11479300 BBG000BMHYD1 49737
NORDSON CORP NDSN 4.97 11413600 BBG000BPWGR1 39614
Allegion Public Limited Company ALLE 4.74 10885300 BBG003PS7JV1 82860
PARKER-HANNIFIN CORP COMMON STOCK USD 0.5 PH 4.66 10711300 BBG000BR3KL6 12560
MCKESSON CORP MCK 4.62 10612100 BBG000DYGNW7 14019
PEPSICO INC PEP 4.59 10532300 BBG000DH7JK6 71996
LOWES COS INC LOW 4.54 10418300 BBG000BNDN65 47808
METTLER-TOLEDO MTD 4.53 10412200 BBG000BZCKH3 8949
TEXAS PACIFIC LAND TRUST TPL 4.50 10342800 BBG00YRJXKB1 25772
HCA HEALTHCARE INC HCA 4.40 10099100 BBG000QW7VC1 26273
LEIDOS HOLDINGS INC LDOS 4.36 10004900 BBG000C23PB0 76031
CASH AND CASH EQUIVALENTS N/A 0.12 271059 N/A 271059

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.