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 05/12/2025
TICKER FCTE
NET ASSETS $423M
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 $26.73
30 DAY MEDIAN BID-ASK SPREAD 0.00174

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 0.75% -5.12% -6.36% -3.12% -2.40% -3.12% 3.29% 2.53%
FCTE - Market Price 0.84% -4.94% -6.45% -3.07% -2.26% -3.07% 3.32% 2.47%
S&P 500 Index Total Return -0.68% -5.63% -7.50% -4.27% -4.92% -4.27% 2.82% 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 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Premium 0 58 58 40 18
Discount 0 5 6 20 11

Holdings

As of 05/12/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
META PLATFORMS INC META 5.54 23447900 BBG000MM2P62 36670
NVIDIA CORP NVDA 5.35 22643600 BBG000BBJQV0 184094
LULULEMON ATHLETICA INC LULU 5.32 22538500 BBG000R8ZVD1 74091
ARISTA NETWORKS INC ANET 5.31 22501000 BBG01QQZBFH1 243728
ORACLE CORP ORCL 5.28 22369900 BBG000BQLTW7 142284
3M CO MMM 5.12 21681200 BBG000BP52R2 144224
CORPAY INC COMMON STOCK CPAY 5.09 21549100 BBG000GPXKX9 61627
ACCENTURE PLC-CL A ACN 5.09 21545900 BBG000D9D830 66894
FAIR ISAAC CORP FICO 5.07 21466100 BBG000DW76Y6 10078
F5 Inc FFIV 5.02 21233700 BBG000CXYSZ6 75740
WATERS CORP WAT 5.00 21185800 BBG000FQRVM3 57779
SNAP-ON INC SNA 4.95 20977400 BBG000BT7JW9 64153
MSCI INC MSCI 4.92 20849300 BBG000RTDY25 36644
COSTCO WHOLESALE CORP COST 4.81 20380900 BBG000F6H8W8 20057
AIR PRODUCTS & CHEMICALS INC APD 4.78 20234900 BBG000BC4JJ4 73259
MARSH & MCLENNAN COS MMC 4.78 20230600 BBG000BP4MH0 89110
BROWN & BROWN INC BRO 4.74 20080600 BBG000BWSGF4 181298
Aon plc AON 4.71 19959700 BBG00SSQFPK6 56452
APPLE INC AAPL 4.69 19856400 BBG000B9XRY4 94200
UNITEDHEALTH GROUP INC UNH 4.32 18306900 BBG000CH5208 48335
CASH AND CASH EQUIVALENTS N/A 0.08 324255 N/A 324255

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.