RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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ETF Market Price

Overview

Fund Objective

The SMI 3Fourteen REAL Asset Allocation ETF seeks long-term capital appreciation.

Fund Description

The Fund is actively managed and allocates its portfolio assets based on a high-level benchmark allocation to three broad categories of asset classes: Stocks, Bonds, and Alternatives. Assets are chosen using a REAL Asset Allocation (”RAA”) strategy developed by an affiliate of the Adviser, 3Fourteen Research, LLC (“3Fourteen”).

The RAA strategy uses a proprietary process developed by 3Fourteen to identify its allocation to the securities (and their weightings) within the stocks, bonds, and alternatives categories in the portfolio. This monthly, proprietary process consists of proprietary trend ranking using various trend analysis techniques and machine-learning-based optimizations to determine which and how much of each security to own.

While a pure trend rank will structurally overweight higher volatility assets, the strategy employs a hierarchical risk parity to optimize risk across and within each major asset class. The RAA strategy strives to stay diversified while overweighting the strongest assets within each category.

NAV Historical Change

Fund Details

As of 10/28/2026
TICKER RAA
NET ASSETS $647M
TYPE Active Equity ETF
CUSIP 26923N 397
ISIN US26923N3970
PRIMARY EXCHANGE NASDAQ
INCEPTION DATE 02/26/2025
GROSS EXPENSE RATIO 0.89%
NET EXPENSE RATIO* 0.85%
TYPICAL # OF HOLDINGS 150
ADVISOR 3Fourteen & SMI Advisory Services
FUND DISTRIBUTOR Foreside Fund Services, LLC
NAV $30.34
30 DAY MEDIAN BID-ASK SPREAD 0.000666

Fee Breakdown

ANNUAL FUND OPERATING EXPENSES
- NET MANAGEMENT FEE* 0.77%
- DISTRIBUTION AND/OR SERVICE (12B-1) FEES 0.00%
- ACQUIRED FUND FEES AND EXPENSES 0.08%
TOTAL FEES: 0.85%

Performance

1 YR 3 YRS 5 YRS Since Inception
RAA - NAV 12.63% NA NA 14.06%
RAA - Market Price 12.67% NA NA 14.11%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.49% -1.49% 1.87% 1.87% 9.81% 9.81% 14.06% 14.06%
RAA - Market Price -1.49% -1.49% 1.86% 1.86% 9.83% 9.83% 14.11% 14.11%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
RAA 2025*
NAV 12.32%
MARKET PRICE 12.36%

*RAA Inception was 2/26/2025

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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 10/28/2026

NET ASSET VALUE

$30.34

CLOSING PRICE

$30.33

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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 4
Discount 16 8 14 21 12

Asset Allocation

As of 10/28/2026

Equities

41.22%
Nasdaq
17.29%
US Large Cap
15.00%
US Small Cap
3.01%
Dividend Payers
2.09%
Emerging Ex. China
1.88%
Europe
0.99%
Japan
0.96%

Fixed Income

29.30%
Long Term Treasuries
8.21%
Corporate Bonds
6.02%
High Yield
5.97%
Emerging Mkt Bonds
4.00%
TIPS
3.02%
T-Bills
2.08%

Alternatives

29.48%
Commodities
10.29%
Energy
5.53%
Managed Futures
5.00%
Miners
3.79%
Real Estate
1.97%
Gold
1.94%
Bitcoin
0.96%

Holdings

As of 10/28/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.00 97033900 BBG00RYR67P4 1966240
INVESCO OPTIMUM YIELD DIVERS PDBC 10.29 66549300 N/A 3304330
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.21 53117600 BBG00PZFJPC3 1799980
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.02 38926200 BBG000PWYVH7 490625
SCHWAB HIGH YIELD BOND ETF SCYB 5.97 38612300 BBG01F80WX71 1524970
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.00 25854900 BBG000NXKWH0 281674
iM DBi Managed Futures Strategy ETF DBMF 3.51 22732400 N/A 690325
SCHWAB U.S. TIPS ETF SCHP 3.02 19534900 BBG000BGN6P5 762187
Vanguard Morningstar Small-Cap ETF VB 3.01 19470800 BBG000HT3Z79 66933
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 12764700 BBG01922X0X9 256114
SPROTT PHYSICAL GOLD TRUS PHYS 1.94 12553100 BBG000Q83F79 407833
ISHARES MSCI EMR MRK EX CHNA EMXC 1.88 12169500 BBG00H5VLMJ6 128819
Simplify DBi CTA Managed Futures Index ETF SDMF 1.49 9621690 BBG020BR8WR7 350453
NVIDIA CORP NVDA 1.38 8944520 BBG000BBJQV0 41529
APPLE INC AAPL 1.32 8555870 BBG000B9XRY4 24884
MICROSOFT CORP MSFT 1.04 6746480 BBG000BPH459 12705
Franklin FTSE Europe ETF FLEE 0.99 6404110 BBG00J3PR1S7 168507
Franklin FTSE Japan ETF FLJP 0.96 6195250 BBG00J3MDY16 153234
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.96 6180870 N/A 171548
MICRON TECHNOLOGY INC MU 0.82 5315340 BBG000C5Z1S3 5406
BHP GROUP LTD BHP 0.81 5250320 BBG000BD5NZ4 63857
AMAZON.COM INC AMZN 0.73 4711630 BBG000BVPV84 18506
ADVANCED MICRO DEVICES INC AMD 0.70 4512410 BBG000BBQCY0 7801
CHEVRON CORP CVX 0.62 4002980 BBG000K4ND22 17465
CANADIAN NATURAL RESOURCES CNQ 0.57 3663230 BBG000HW5GX3 66835
EQT CORP EQT 0.57 3662000 BBG000BHZ5J9 65137
Tesla Inc. TSLA 0.57 3673550 BBG000N9MNX3 9088
OCCIDENTAL PETROLEUM CORP OXY 0.56 3637270 BBG000BQQ2S6 57863
Suncor Energy Inc. SU 0.56 3605220 BBG000BC1LY5 46495
Cheniere Energy Inc LNG 0.55 3541380 BBG000C3HSR0 11893
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.55 3549390 BBG023CY9MM1 19500
SCHLUMBERGER LTD SLB 0.54 3492680 BBG000BT41Q8 64980
WILLIAMS COMPANIES INC. WMB 0.54 3501460 BBG000BWVCP8 47145
MARATHON PETROLEUM CORP MPC 0.54 3522630 BBG001DCCGR8 7992
ALPHABET INC-CL A GOOGL 0.50 3225830 BBG009S39JX6 9929
META PLATFORMS INC META 0.49 3199650 BBG000MM2P62 5224
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 3003160 BBG000BPWXK1 26362
Broadcom Inc. AVGO 0.46 3007270 BBG00KHY5S69 8548
ALPHABET INC-CL C GOOG 0.46 3005160 BBG009S3NB30 9336
SPACE EXPLORATION TECH CORP A SPCX 0.46 2981570 BBG000NQF3Z5 20530
WAL-MART STORES INC WMT 0.44 2870670 BBG000BWXBC2 24170
INTEL CORP INTC 0.36 2327490 BBG000C0G1D1 24364
FREEPORT-MCMORAN INC FCX 0.36 2324540 BBG000BJDB15 34903
RIO TINTO PLC-SPON ADR RIO 0.35 2244490 BBG000FD28T3 26120
AGNICO EAGLE MINES LTD AEM 0.35 2277160 BBG000DLVDK3 12436
COSTCO WHOLESALE CORP COST 0.33 2159060 BBG000F6H8W8 2197
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 2140110 BBG000N7QR55 10874
CISCO SYSTEMS INC CSCO 0.32 2063640 BBG000C3J3C9 18711
WELLTOWER INC WELL 0.27 1733080 BBG000BKY1G5 7628
APPLIED MATERIALS INC AMAT 0.25 1595360 BBG000BBPFB9 3835
GLENCORE PLC -UNSP ADR GLNCY 0.25 1630790 BBG001VKX1Z1 113092
Barrick Mining Corp. B 0.25 1617250 N/A 40747
LAM RESH CORP LRCX 0.24 1522670 BBG000BNFLM9 5999
NUCOR CORP NUE 0.23 1456520 BBG000BQ8KV2 5359
PALO ALTO NETWORKS INC PANW 0.23 1486440 BBG0014GJCT9 3768
TEXAS INSTRUMENTS INC TXN 0.22 1402290 BBG000BVV7G1 4526
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1377970 BBG000PVRDL2 10887
PROLOGIS INC PLD 0.21 1360140 BBG000B9Z0J8 10862
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1346780 N/A 52302
REALTY INCOME CORP O 0.20 1316340 BBG000DHPN63 23410
PEPSICO INC PEP 0.20 1266880 BBG000DH7JK6 9552
Crowdstrike Holdings Inc. Class A CRWD 0.20 1282370 BBG00BLYKS03 4809
NETFLIX INC NFLX 0.19 1246870 BBG000CL9VN6 20114
AMGEN INC AMGN 0.19 1219940 BBG000BBS2Y0 2700
AUTOMATIC DATA PROCESSING ADP 0.19 1239360 BBG000JG0547 4343
EQUINIX INC EQIX 0.18 1191050 BBG000MBDGM6 1182
LINDE PLC LIN 0.18 1159110 BBG01FND0CC1 2281
FRANCO-NEVADA CORP FNV 0.17 1091550 BBG000TRN6Z1 4571
KLA CORPORATION KLAC 0.16 1041850 BBG000BMTFR4 6562
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 1046110 BBG00ZXBJ153 4157
ANALOG DEVICES INC ADI 0.16 1021420 BBG000BB6G37 2385
GILEAD SCIENCES INC GILD 0.15 986722 BBG000CKGBP2 6198
SHOPIFY INC - CLASS A SHOP 0.15 957172 BBG004DW5NB8 5690
QUALCOMM INC QCOM 0.14 925096 BBG000CGC1X8 5056
VALE SA-SP ADR VALE 0.14 876021 BBG000BN5LG7 76375
SANDISK CORP/DE SNDKV SNDK 0.14 907481 BBG01R388JG1 646
SIMON PROPERTY GROUP INC SPG 0.14 911923 BBG000BJ2D31 4317
PUBLIC STORAGE PSA 0.13 847367 BBG000BPPN67 2733
DIGITAL REALTY TRUST INC DLR 0.13 859301 BBG000Q5ZRM7 4780
INTUITIVE SURGICAL INC ISRG 0.12 787531 BBG000BJPDZ1 1773
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 773351 BBG0113JGQF0 1108
T-MOBILE US INC TMUS 0.12 808221 BBG000NDV1D4 5458
Vivmark Residential VMRK 0.12 757352 BBG000BG8M31 12436
KENVUE INC KVUE 0.11 691241 BBG01C79X561 35760
WESTERN DIGITAL CORP WDC 0.11 700871 BBG000BWNFZ9 1768
Kimberly-Clark Corp KMB 0.11 699939 BBG000BMW2Z0 6457
MEDTRONIC PLC MDT 0.11 692747 BBG000BNWG87 7309
STANLEY BLACK & DECKER INC SWK 0.11 712426 BBG000BTQR96 7098
CLOROX COMPANY CLX 0.11 683083 BBG000BFS7D3 7866
International Business Machines Corporation IBM 0.11 693063 BBG000BLNNH6 2737
ABBVIE INC ABBV 0.11 693240 BBG0025Y4RY4 2424
ASML HOLDING NV-NY REG SHS ASML 0.11 690083 BBG000K6MRN4 415
Ventas Inc. VTR 0.11 723631 BBG000FRVHB9 8926
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 690881 N/A 15131
AO Smith Corp AOS 0.10 675485 BBG000BC1L02 11099
HORMEL FOODS CORP HRL 0.10 664920 BBG000BLF8D2 32262
FRANKLIN RESOURCES INC BEN 0.10 630253 BBG000BD0TF8 19863
T ROWE PRICE GROUP INC TROW 0.10 636168 BBG000BVMPN3 6117
VERTEX PHARMACEUTICALS INC VRTX 0.10 658934 BBG000C1S2X2 1244
FORTINET INC FTNT 0.10 624947 BBG000BCMBG4 3590
GENUINE PARTS CO GPC 0.09 582308 BBG000BKL348 4797
IRON MOUNTAIN INC IRM 0.09 600790 BBG000KCZPC3 5194
PPG INDUSTRIES INC PPG 0.09 592674 BBG000BRJ809 5004
EVERSOURCE ENERGY ES 0.09 555002 BBG000BQ87N0 8296
ILLINOIS TOOL WORKS ITW 0.09 567600 BBG000BMBL90 2056
STARBUCKS CORP SBUX 0.09 594122 BBG000CTQBF3 5757
ARM HOLDINGS PLC ARM 0.08 494918 BBG01J1GXZF0 2098
Marriott International, Inc Class A MAR 0.08 521791 BBG000BGD7W6 1323
BOOKING HOLDINGS INC BKNG 0.08 532436 BBG000BLBVN4 3599
EXTRA SPACE STORAGE INC EXR 0.08 524284 BBG000PV27K3 3622
ADOBE SYSTEMS INC ADBE 0.08 495024 BBG000BB5006 1982
CSX CORP CSX 0.08 492251 BBG000BGJRC8 9470
Cash & Other Cash&Other 0.07 478577 N/A 478577
CADENCE DESIGN SYS INC CDNS 0.07 440746 BBG000C13CD9 1287
CONSTELLATION ENERGY CORPORATION CEG 0.07 465834 BBG014KFRNP7 1805
MONSTER BEVERAGE CORP MNST 0.07 456372 BBG008NVB1C0 9995
INTUIT INC INTU 0.07 439118 BBG000BH5DV1 1338
VICI PROPERTIES INC REIT VICI 0.07 442670 BBG00HVVB499 18821
CINTAS CORP CTAS 0.07 428387 BBG000H3YXF8 2013
SYNOPSYS INC SNPS 0.07 460205 BBG000BSFRF3 955
Datadog Inc. Class A DDOG 0.07 450189 BBG003NJHZT9 1617
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 403340 BBG000BBTJZ1 1637
COMCAST CORP-CLASS A CMCSA 0.06 390741 BBG000BFT2L4 18115
ROSS STORES INC ROST 0.06 357017 BBG000BSBZH7 1566
MERCADOLIBRE INC MELI 0.06 396522 BBG000GQPB11 237
REGENERON PHARMACEUTICALS REGN 0.06 385490 BBG000C734W3 474
APPLOVIN CORP APP 0.06 394374 BBG006HFPX77 1517
OREILLY AUTOMOTIVE INC ORLY 0.06 370080 BBG000BGYWY6 4092
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 398876 BBG000D4LWF6 6447
LUMENTUM HOLDINGS INC LITE 0.06 385687 BBG0073F9RT7 422
FASTENAL CO FAST 0.05 296918 BBG000BJ8YN7 5771
HOST HOTELS & RESORTS INC HST 0.05 304428 BBG000BL8804 12047
NXP Semiconductors NV NXPI 0.05 311089 BBG000BND699 1236
AIRBNB INC ABNB 0.05 355170 BBG001Y2XS07 2139
DOORDASH INC CLASS A DASH 0.05 346607 BBG005D7QCJ3 2045
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 330706 BBG00CMNZNK7 330706
AMERICAN ELECTRIC POWER AEP 0.05 352165 BBG000BB9KF2 2747
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 343142 BBG022XF4SZ9 1565
XCEL ENERGY INC XEL 0.04 241959 BBG000BCTQ65 3135
PAYPAL HOLDINGS INC PYPL 0.04 252100 BBG0077VNXV6 4458
Omega Healthcare Investors Inc OHI 0.04 238241 BBG000BGBTC2 5220
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 262835 BBG000C30L48 217
ESSEX PROPERTY TRUST INC ESS 0.04 286516 BBG000CGJMB9 1096
Baker Hughes Company BKR 0.04 262095 BBG00GBVBK51 4795
TERADYNE INC TER 0.04 229918 BBG000BV4DR6 734
EXELON CORP EXC 0.04 231103 BBG000J6XT05 5162
MID-AMERICA APARTMENT COMM MAA 0.04 232099 BBG000BLMY92 1988
KEURIG DR PEPPER INC KDP 0.04 241366 BBG000TJM7F0 6910
KIMCO REALTY CORP KIM 0.04 268398 BBG000CN3S73 11470
INVITATION HOMES INC REIT USD.01 INVH 0.04 277745 BBG00FQH6BS9 10383
PACCAR INC PCAR 0.04 274178 BBG000BQVTF5 2677
DIAMONDBACK ENERGY INC FANG 0.04 280459 BBG002PHSYX9 1360
AUTODESK INC ADSK 0.04 254499 BBG000BM7HL0 1050
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 259353 BBG00LBLDDR2 3348
W. P. CAREY REIT INC WPC 0.04 246264 BBG000BCQM58 3904
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 247020 BBG00B6BFWH9 2223
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 275282 BBG020QYV152 1555
MICROCHIP TECHNOLOGY INC MCHP 0.03 217629 BBG000BHCP19 2733
ROPER TECHNOLOGIES INC ROP 0.03 197856 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 165036 BBG000BHJWG1 390
ASTERA LABS INC ALAB 0.03 223494 BBG00TDKHW99 752
Old Dominion Freight Line Inc. ODFL 0.03 178173 BBG000CHSS88 1028
HEALTHPEAK PROPERTIES INC DOC 0.03 224845 BBG000BKYDP9 12121
IDEXX LABS IDXX 0.03 203773 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 193142 BBG000BS1YV5 989
FERROVIAL SA FER 0.03 197774 BBG01H0DF657 3626.88
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 171202 BBG01BFR8YV1 2258
WORKDAY INC-CLASS A WDAY 0.03 209878 BBG000VC0T95 1027
Nebius Group NV NBIS 0.03 202397 BBG001NVJ6W4 1110
THOMSON REUTERS CORP TRI 0.03 221732 N/A 1910
ROCKET LAB CORP RKLB 0.03 170643 BBG01V7JN3F3 2912
MICROSTRATEGY INC-CL A MSTR 0.03 226159 BBG000GQJPZ0 1558
PAYCHEX INC PAYX 0.03 194562 BBG000BQSQ38 1798
AIR PRODUCTS & CHEMICALS INC APD 0.02 132403 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 141233 BBG000B9ZXB4 1376
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 141764 BBG000BFGNJ5 610
COREWEAVE INC CRWV 0.02 141669 BBG011ZTRJ21 2216
COPART INC CPRT 0.02 133158 BBG000BM9RH1 4598
DEXCOM INC DXCM 0.02 152130 BBG000QTF8K1 1935
CONSOLIDATED EDISON INC ED 0.02 138692 BBG000BHLYS1 1215
MCDONALDS CORP MCD 0.02 130260 BBG000BNSZP1 520

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.