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 08/28/2025
TICKER FCTE
NET ASSETS $387M
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 $26.11
30 DAY MEDIAN BID-ASK SPREAD 0.000766

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 -2.23% N/A N/A 5.33%
FCTE - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return 16.33% N/A N/A 16.00%
1 MO 3 MO YTD Since Inception
FCTE - NAV -2.51% 0.92% 2.42% 5.84% -0.04% 2.54% 5.79% 8.52%
FCTE - Market Price -2.63% 1.14% 2.29% 5.93% -0.02% 2.68% 5.71% 8.55%
S&P 500 Index Total Return 2.24% 5.09% 14.21% 10.94% 8.59% 6.20% 17.43% 14.85%
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 8
Discount 5 6 20 29 34

Holdings

As of 08/28/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
COPART INC CPRT 5.30 20514000 BBG000BM9RH1 420801
3M CO MMM 5.23 20274300 BBG000BP52R2 128677
MASTERCARD INC - A MA 5.14 19924000 BBG000F1ZSQ2 33742
MARSH & MCLENNAN COS MMC 5.13 19870100 BBG000BP4MH0 96251
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 5.11 19800700 BBG000B9ZXB4 150725
WATERS CORP WAT 5.05 19557100 BBG000FQRVM3 65705
VERISIGN INC VRSN 5.04 19526600 BBG000BGKHZ3 71789
F5 Inc FFIV 5.02 19461600 BBG000CXYSZ6 61123
PHILIP MORRIS INTERNATIONAL PM 5.02 19443500 BBG000J2XL74 117292
VISA INC-CLASS A SHARES V 5.00 19381200 BBG000PSKYX7 55397
CORPAY INC COMMON STOCK CPAY 5.00 19377500 BBG000GPXKX9 59592
COSTCO WHOLESALE CORP COST 4.99 19325400 BBG000F6H8W8 20451
REPUBLIC SERVICES INC RSG 4.98 19289300 BBG000BPXVJ6 82751
WAL-MART STORES INC WMT 4.88 18883500 BBG000BWXBC2 196478
AUTOMATIC DATA PROCESSING ADP 4.85 18787000 BBG000JG0547 61779
MCKESSON CORP MCK 4.81 18621800 BBG000DYGNW7 27344
META PLATFORMS INC META 4.80 18584000 BBG000MM2P62 24742
PAYCHEX INC PAYX 4.77 18469700 BBG000BQSQ38 133144
VERISK ANALYTICS INC VRSK 4.75 18411600 BBG000BCZL41 69167
CARDINAL HEALTH INC CAH 4.71 18262600 BBG000D898T9 122150
CASH AND CASH EQUIVALENTS N/A 0.41 1590140 N/A 1590140

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.