FCTE

SMI 3FOURTEEN FULL-CYCLE TREND ETF

How to Buy
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 07/30/2026
TICKER FCTE
NET ASSETS $256M
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 $28.75
30 DAY MEDIAN BID-ASK SPREAD 0.001373

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 8.56% 8.56% 18.43% 18.43% 17.13% 17.13% 9.24% 9.24%
FCTE - Market Price 8.63% 8.63% 18.50% 18.50% 17.31% 17.31% 9.24% 9.24%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 18.56% 18.56%
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 07/30/2026

NET ASSET VALUE

$28.75

CLOSING PRICE

$28.75

PREMIUM/DISCOUNT

0.02%
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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 8 3 10 25 4
Discount 56 60 51 36 17

Holdings

As of 07/30/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
MICROSOFT CORP MSFT 6.12 15700500 BBG000BPH459 34805
APPLE INC AAPL 5.85 15001300 BBG000B9XRY4 44991
MCKESSON CORP MCK 5.78 14820100 BBG000DYGNW7 17123
LOCKHEED MARTIN CORP LMT 5.71 14633500 BBG000C1BW00 25489
PEPSICO INC PEP 5.25 13461600 BBG000DH7JK6 96017
HCA HEALTHCARE INC HCA 5.14 13192900 BBG000QW7VC1 33333
JOHNSON & JOHNSON JNJ 5.11 13097000 BBG000BMHYD1 51196
ARISTA NETWORKS INC ANET 5.08 13036500 BBG01QQZBFH1 76228
AMETEK INC AME 5.02 12885400 BBG000B9XG87 53687
Old Dominion Freight Line Inc. ODFL 4.97 12748800 BBG000CHSS88 60003
NORDSON CORP NDSN 4.96 12722900 BBG000BPWGR1 43095
ELI LILLY & CO LLY 4.89 12529100 BBG000BNBDC2 10848
META PLATFORMS INC META 4.83 12394500 BBG000MM2P62 22994
LOWES COS INC LOW 4.83 12389000 BBG000BNDN65 58973
MONOLITHIC POWER SYSTEMS INC MPWR 4.81 12344500 BBG000C30L48 9379
ALPHABET INC-CL A GOOGL 4.73 12139200 BBG009S39JX6 36382
HUBBELL INC HUBB 4.56 11704900 BBG000BLK267 24710
TEXAS PACIFIC LAND TRUST TPL 4.56 11690700 BBG00YRJXKB1 29653
JABIL CIRCUIT INC JBL 4.06 10401400 BBG000BJNGN9 33714
LAM RESH CORP LRCX 3.47 8910460 BBG000BNFLM9 29929
CASH AND CASH EQUIVALENTS N/A 0.25 644381 N/A 644381

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.