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 11/10/2025
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 $24.80
30 DAY MEDIAN BID-ASK SPREAD 0.000813

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 -3.54% N/A N/A 6.77%
FCTE - Market Price -3.83% N/A N/A 6.77%
S&P 500 Index Total Return 17.60% N/A N/A 18.93%
1 MO 3 MO YTD Since Inception
FCTE - NAV 1.69% 1.69% 0.02% 0.02% 2.56% 2.56% 8.54% 8.54%
FCTE - Market Price 1.77% 1.77% -0.02% -0.02% 2.65% 2.65% 8.25% 8.25%
S&P 500 Index Total Return 3.65% 3.65% 8.12% 8.12% 14.83% 14.83% 18.93% 18.93%
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

As of 11/10/2025

NET ASSET VALUE

$24.80

CLOSING PRICE

$24.78

PREMIUM/DISCOUNT

0.00%
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 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 58 40 33 8 0
Discount 6 20 29 56 28

Holdings

As of 11/10/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
IDEXX LABS IDXX 5.61 12918800 BBG000BLRT07 18206
PHILIP MORRIS INTERNATIONAL PM 5.36 12335000 BBG000J2XL74 79545
OREILLY AUTOMOTIVE INC ORLY 5.17 11898200 BBG000BGYWY6 121286
VERISIGN INC VRSN 5.16 11881800 BBG000BGKHZ3 47978
TRACTOR SUPPLY COMPANY TSCO 5.10 11739100 BBG000BLXZN1 211667
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 5.09 11727500 BBG000B9ZXB4 93157
AUTOZONE INC AZO 5.07 11683800 BBG000C7LMS8 3134
Broadridge Financial Solutions, Inc. BR 5.04 11614800 BBG000PPFKQ7 52047
Allegion Public Limited Company ALLE 5.03 11576800 BBG003PS7JV1 69372
CINTAS CORP CTAS 5.02 11558300 BBG000H3YXF8 62393
FASTENAL CO FAST 5.00 11523900 BBG000BJ8YN7 278692
MASTERCARD INC - A MA 5.00 11506000 BBG000F1ZSQ2 20808
REPUBLIC SERVICES INC RSG 4.90 11274000 BBG000BPXVJ6 55232
AUTOMATIC DATA PROCESSING ADP 4.86 11200000 BBG000JG0547 44084
META PLATFORMS INC META 4.85 11172700 BBG000MM2P62 17685
CADENCE DESIGN SYS INC CDNS 4.84 11143500 BBG000C13CD9 33877
VERISK ANALYTICS INC VRSK 4.77 10995400 BBG000BCZL41 51636
GARMIN LTD GRMN 4.72 10878700 BBG000C4LN67 53661
F5 Inc FFIV 4.71 10843300 BBG000CXYSZ6 45036
ORACLE CORP ORCL 4.57 10520200 BBG000BQLTW7 43683
CASH AND CASH EQUIVALENTS N/A 0.14 315359 N/A 315359

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.