RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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 01/06/2026
TICKER RAA
NET ASSETS $520M
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 $27.98
30 DAY MEDIAN BID-ASK SPREAD 0.000363

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 N/A N/A N/A N/A
RAA - 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
RAA - NAV 0.21% 3.44% 5.88% 6.54% - - 12.08% 9.50%
RAA - Market Price 0.18% 3.45% 5.89% 6.40% - - 12.11% 9.52%
S&P 500 Index Total Return 0.25% 3.65% 6.34% 8.12% - - 16.12% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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 01/06/2026

NET ASSET VALUE

$27.98

CLOSING PRICE

$27.99

PREMIUM/DISCOUNT

0.06%
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 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Premium 23 54 47 39 1
Discount 0 5 13 16 1

Asset Allocation

As of 1/6/2026

Equities

57.84%
Nasdaq
28.76%
US Large Cap
16.96%
US Small Cap
4.11%
Dividend Payers
3.95%
Japan
2.02%
Emerging Ex. China
1.03%
Europe
1.01%

Fixed Income

20.99%
High Yield
5.92%
Corporate Bonds
4.93%
Emerging Mkt Bonds
3.94%
TIPS
2.95%
Long Term Treasuries
1.97%
T-Bills
1.28%

Alternatives

21.17%
Managed Futures
8.97%
Gold
5.11%
Miners
4.08%
Bitcoin
1.04%
Commodities
1.00%
Real Estate
0.97%
Energy
0.00%

Holdings

As of 01/06/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 16.96 88278800 BBG00RYR67P4 665151
iM DBi Managed Futures Strategy ETF DBMF 8.97 46682400 N/A 1641430
Schwab High Yield Bond ETF SCYB 5.92 30820900 BBG01F80WX71 1161300
SPROTT PHYSICAL GOLD TRUS PHYS 5.11 26565100 BBG000Q83F79 774720
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.93 25628600 BBG000PWYVH7 305320
VANGUARD SMALL-CAP ETF VB 4.11 21386600 BBG000HT3Z79 79383
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.94 20477600 BBG000NXKWH0 212534
SCHWAB U.S. TIPS ETF SCHP 2.95 15368900 BBG000BGN6P5 579301
NVIDIA CORP NVDA 2.58 13427000 BBG000BBJQV0 71710
APPLE INC AAPL 2.19 11417900 BBG000B9XRY4 43520
Franklin FTSE Japan ETF FLJP 2.02 10523000 BBG00J3MDY16 297260
MICROSOFT CORP MSFT 2.01 10472200 BBG000BPH459 21885
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.97 10240900 BBG00PZFJPC3 322651
AMAZON.COM INC AMZN 1.46 7576770 BBG000BVPV84 31448
Tesla Inc. TSLA 1.10 5728060 BBG000N9MNX3 13230
META PLATFORMS INC META 1.09 5658210 BBG000MM2P62 8565
ISHARES MSCI GLOBAL METALS & PICK 1.04 5389900 BBG002GKR8T5 97714
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.04 5396760 N/A 131950
ISHARES MSCI EMR MRK EX CHNA EMXC 1.03 5350950 BBG00H5VLMJ6 70204
ALPHABET INC-CL A GOOGL 1.03 5365470 BBG009S39JX6 17069
Franklin FTSE Europe ETF FLEE 1.01 5245420 BBG00J3PR1S7 140043
INVESCO OPTIMUM YIELD DIVERS PDBC 1.00 5215840 N/A 385217
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5103300 BBG01922X0X9 102250
ALPHABET INC-CL C GOOG 0.96 4984360 BBG009S3NB30 15846
Broadcom Inc. AVGO 0.92 4804530 BBG00KHY5S69 13976
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.66 3435340 BBG000N7QR55 19116
MICRON TECHNOLOGY INC MU 0.62 3210730 BBG000C5Z1S3 9349
COSTCO WHOLESALE CORP COST 0.61 3194540 BBG000F6H8W8 3593
NETFLIX INC NFLX 0.60 3107660 BBG000CL9VN6 34282
ADVANCED MICRO DEVICES INC AMD 0.55 2836490 BBG000BBQCY0 13233
CISCO SYSTEMS INC CSCO 0.47 2434070 BBG000C3J3C9 32355
BHP GROUP LTD BHP 0.46 2417820 BBG000BD5NZ4 37312
ISHARES MSCI GLOBAL GOLD MIN RING 0.45 2323920 BBG002GKR6T9 29361
LAM RESH CORP LRCX 0.41 2151140 BBG000BNFLM9 10394
APPLIED MATERIALS INC AMAT 0.37 1946860 BBG000BBPFB9 6577
AUTOMATIC DATA PROCESSING ADP 0.36 1896510 BBG000JG0547 7263
FREEPORT-MCMORAN INC FCX 0.34 1754130 BBG000BJDB15 31240
T-MOBILE US INC TMUS 0.34 1790180 BBG000NDV1D4 9014
SHOPIFY INC - CLASS A SHOP 0.33 1738740 BBG008HBD923 10322
NEWMONT GOLDCORP CORPORATION COM NEM 0.33 1736280 BBG000BPWXK1 15900
INTUITIVE SURGICAL INC ISRG 0.33 1721640 BBG000BJPDZ1 2904
LINDE PLC LIN 0.31 1632790 BBG01FND0CC1 3735
QUALCOMM INC QCOM 0.31 1598080 BBG000CGC1X8 8759
APPLOVIN CORP APP 0.31 1588780 BBG006HFPX77 2574
PEPSICO INC PEP 0.30 1541620 BBG000DH7JK6 11094
INTEL CORP INTC 0.29 1529610 BBG000C0G1D1 38202
KLA CORPORATION KLAC 0.29 1528920 BBG000BMTFR4 1096
AGNICO EAGLE MINES LTD AEM 0.29 1526960 BBG000DLVDK3 8454
FASTENAL CO FAST 0.28 1458720 BBG000BJ8YN7 35116
AMGEN INC AMGN 0.28 1441850 BBG000BBS2Y0 4367
INTUIT INC INTU 0.28 1479500 BBG000BH5DV1 2286
TEXAS INSTRUMENTS INC TXN 0.27 1429990 BBG000BVV7G1 7444
RIO TINTO PLC-SPON ADR RIO 0.27 1406210 BBG000FD28T3 16499
BOOKING HOLDINGS INC BKNG 0.27 1411980 BBG000BLBVN4 264
GILEAD SCIENCES INC GILD 0.24 1240180 BBG000CKGBP2 10219
Barrick Mining Corp. B 0.24 1268070 N/A 26562
REALTY INCOME CORP O 0.23 1173660 BBG000DHPN63 20440
ADOBE SYSTEMS INC ADBE 0.22 1128590 BBG000BB5006 3359
ANALOG DEVICES INC ADI 0.22 1169710 BBG000BB6G37 3993
AIR PRODUCTS & CHEMICALS INC APD 0.21 1072710 BBG000BC4JJ4 4152
FRANKLIN RESOURCES INC BEN 0.21 1075040 BBG000BD0TF8 42796
T ROWE PRICE GROUP INC TROW 0.21 1073970 BBG000BVMPN3 9852
STANLEY BLACK & DECKER INC SWK 0.21 1096720 BBG000BTQR96 13580
HONEYWELL INTERNATIONAL INC HON 0.20 1050320 BBG000H556T9 5125
MEDTRONIC PLC MDT 0.20 1059670 BBG000BNWG87 10564
PALO ALTO NETWORKS INC PANW 0.20 1062750 BBG0014GJCT9 5718
CLOROX COMPANY CLX 0.20 1018780 BBG000BFS7D3 10126
ILLINOIS TOOL WORKS ITW 0.20 1040740 BBG000BMBL90 4095
AMCOR PLC AMCR 0.20 1043080 BBG00LNJRQ09 121713
KENVUE INC KVUE 0.19 986994 BBG01C79X561 58925
HORMEL FOODS CORP HRL 0.19 973044 BBG000BLF8D2 42584
Kimberly-Clark Corp KMB 0.19 981380 BBG000BMW2Z0 10051
GENUINE PARTS CO GPC 0.18 951056 BBG000BKL348 7639
VERTEX PHARMACEUTICALS INC VRTX 0.18 961116 BBG000C1S2X2 2052
Crowdstrike Holdings Inc. Class A CRWD 0.18 941389 BBG00BLYKS03 2054
FRANCO-NEVADA CORP FNV 0.17 861632 BBG000RD3CL8 3924
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.17 863007 BBG000PVRDL2 6876
GLENCORE PLC -UNSP ADR GLNCY 0.17 863519 BBG001VKX1Z1 75154
CONSTELLATION ENERGY CORPORATION CEG 0.17 896378 BBG014KFRNP7 2528
ABBVIE INC ABBV 0.17 895272 BBG0025Y4RY4 3998
MERCADOLIBRE INC MELI 0.17 890125 BBG000GQPB11 407
CONSOLIDATED EDISON INC ED 0.17 895469 BBG000BHLYS1 9016
ASML HOLDING NV-NY REG SHS ASML 0.17 868291 BBG000K6MRN4 699
VALE SA-SP ADR VALE 0.16 829058 BBG000BN5LG7 58508
STARBUCKS CORP SBUX 0.16 823837 BBG000CTQBF3 9209
International Business Machines Corporation IBM 0.16 844799 BBG000BLNNH6 2793
COMCAST CORP-CLASS A CMCSA 0.15 799704 BBG000BFT2L4 29165
DOORDASH INC CLASS A DASH 0.15 759018 BBG005D7QCJ3 3309
SYNOPSYS INC SNPS 0.15 762646 BBG000BSFRF3 1499
Anglo American PLC NGLOD 0.15 768115 N/A 35154
CADENCE DESIGN SYS INC CDNS 0.13 692523 BBG000C13CD9 2201
Marriott International, Inc Class A MAR 0.13 696827 BBG000BGD7W6 2165
REGENERON PHARMACEUTICALS REGN 0.13 653847 BBG000C734W3 842
WELLTOWER INC WELL 0.13 693254 BBG000BKY1G5 3734
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.13 654391 BBG00LBLDDR2 5335
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.13 673804 BBG00CMNZNK7 673804
WESTERN DIGITAL CORP WDC 0.12 608341 BBG000BWNFZ9 2773
CINCINNATI FINANCIAL CORP CINF 0.12 610220 BBG000BFPK65 3764
CINTAS CORP CTAS 0.12 612170 BBG000H3YXF8 3267
PROLOGIS INC PLD 0.12 605562 BBG000B9Z0J8 4751
OREILLY AUTOMOTIVE INC ORLY 0.12 614833 BBG000BGYWY6 6802
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 602611 BBG00ZXBJ153 6830
MONDELEZ INTERNATIONAL INC-A MDLZ 0.11 560889 BBG000D4LWF6 10637
Warner Bros Discovery Inc WBD 0.11 568290 BBG011386VF4 19961
CHEVRON CORP CVX 0.11 595635 BBG000K4ND22 3805
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 576252 BBG0113JGQF0 1744
MONSTER BEVERAGE CORP MNST 0.11 593948 BBG008NVB1C0 7844
PACCAR INC PCAR 0.10 499697 BBG000BQVTF5 4268
AMERICAN ELECTRIC POWER AEP 0.10 499044 BBG000BB9KF2 4338
NXP Semiconductors NV NXPI 0.10 495835 BBG000BND699 2016
CSX CORP CSX 0.10 542854 BBG000BGJRC8 15050
AUTODESK INC ADSK 0.10 506891 BBG000BM7HL0 1729
PAYPAL HOLDINGS INC PYPL 0.09 449771 BBG0077VNXV6 7520
EQUINIX INC EQIX 0.09 470472 BBG000MBDGM6 597
AIRBNB INC ABNB 0.09 477411 BBG001Y2XS07 3459
IDEXX LABS IDXX 0.09 456612 BBG000BLRT07 646
THOMSON REUTERS CORP COMMON STOCK TRI 0.09 465054 N/A 3565
FORTINET INC FTNT 0.09 477464 BBG000BCMBG4 6087
ROSS STORES INC ROST 0.09 489453 BBG000BSBZH7 2610
AXON ENTERPRISE INC AXON 0.08 402309 BBG000BHJWG1 642
ALNYLAM PHARMACEUTICALS INC ALNY 0.08 438506 BBG000BFGNJ5 1079
FERROVIAL SE FER 0.08 399310 BBG01H7CZ9S9 5928
TARGET CORP TGT 0.08 439103 BBG000H8TVT2 4210
ASTRAZENECA PLC-SPONS ADR AZN 0.08 440899 BBG000BZ0DK8 4643
ELECTRONIC ARTS INC EA 0.08 413871 BBG000BP0KQ8 2026
XCEL ENERGY INC XEL 0.07 356520 BBG000BCTQ65 4790
ROPER TECHNOLOGIES INC ROP 0.07 373242 BBG000F1ZSN5 855
SIMON PROPERTY GROUP INC SPG 0.07 357696 BBG000BJ2D31 1920
EXELON CORP EXC 0.07 354709 BBG000J6XT05 8091
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 384055 BBG000C30L48 382
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.07 379999 BBG000BS1YV5 1494
Baker Hughes Company BKR 0.07 380868 BBG00GBVBK51 7713
DIGITAL REALTY TRUST INC DLR 0.07 358556 BBG000Q5ZRM7 2287
WORKDAY INC-CLASS A WDAY 0.07 358772 BBG000VC0T95 1706
Datadog Inc. Class A DDOG 0.07 354266 BBG003NJHZT9 2584
MICROSTRATEGY INC-CL A MSTR 0.07 345006 BBG000GQJPZ0 2184
INSMED INC INSM 0.06 297619 BBG000BWM5P3 1700
MICROCHIP TECHNOLOGY INC MCHP 0.06 325460 BBG000BHCP19 4347
PAYCHEX INC PAYX 0.06 319090 BBG000BQSQ38 2869
PUBLIC STORAGE PSA 0.06 318978 BBG000BPPN67 1180
Zscaler Inc. ZS 0.06 288195 BBG003338H34 1298
COGNIZANT TECH SOLUTIONS-A CTSH 0.06 327733 BBG000BBDV81 3873
KEURIG DR PEPPER INC KDP 0.06 302025 BBG000TJM7F0 11047
COPART INC CPRT 0.06 306732 BBG000BM9RH1 7873
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.06 323850 BBG01BFR8YV1 3734
DIAMONDBACK ENERGY INC FANG 0.06 325491 BBG002PHSYX9 2253
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 318841 BBG00B6BFWH9 3720
Ventas Inc. VTR 0.05 244029 BBG000FRVHB9 3205
AO Smith Corp AOS 0.05 283319 BBG000BC1L02 4127
Old Dominion Freight Line Inc. ODFL 0.05 282367 BBG000CHSS88 1672
VERISK ANALYTICS INC VRSK 0.05 247778 BBG000BCZL41 1120
PPG INDUSTRIES INC PPG 0.05 243395 BBG000BRJ809 2304
COSTAR GROUP INC CSGP 0.05 234461 BBG000D7JKW9 3489
ATLASSIAN CORP PLC-CLASS A TEAM 0.04 215211 BBG01BGWHFR5 1359
KRAFT HEINZ CO/THE KHC 0.04 228118 BBG005CPNTQ2 9703
AVALONBAY COMMUNITIES INC AVB 0.04 205054 BBG000BLPBL5 1116
CHARTER COMMUNICATIONS INC-A CHTR 0.04 222836 BBG000VPGNR2 1058
EXTRA SPACE STORAGE INC EXR 0.04 208202 BBG000PV27K3 1537
VICI PROPERTIES INC REIT VICI 0.04 197651 BBG00HVVB499 7097
NEXTERA ENERGY INC NEE 0.04 205381 BBG000BJSBJ0 2534
JOHNSON & JOHNSON JNJ 0.04 201718 BBG000BMHYD1 985
DEXCOM INC DXCM 0.04 216100 BBG000QTF8K1 3092
MCDONALDS CORP MCD 0.04 199223 BBG000BNSZP1 658
EQUITY RESIDENTIAL EQR 0.03 155089 BBG000BG8M31 2485
IRON MOUNTAIN INC IRM 0.03 150832 BBG000KCZPC3 1777
Sun Communities Inc SUI 0.02 97174.4 BBG000BLJWF3 791
ESSEX PROPERTY TRUST INC ESS 0.02 97768.4 BBG000CGJMB9 381
MID-AMERICA APARTMENT COMM MAA 0.02 104457 BBG000BLMY92 756
Omega Healthcare Investors Inc OHI 0.02 98124.2 BBG000BGBTC2 2211
KIMCO REALTY CORP KIM 0.02 100561 BBG000CN3S73 4944
INVITATION HOMES INC REIT USD.01 INVH 0.02 102031 BBG00FQH6BS9 3631
W. P. CAREY REIT INC WPC 0.02 97615.2 BBG000BCQM58 1516
Solstice Advanced Materials Inc. SOLSV 0.00 7223.28 BBG01X5744P5 145.25
Versant Media Group Inc VSNT 0.00 44.96 BBG01Y0M8K11 1.24
Cash & Other Cash&Other -0.02 -88653.8 N/A -88653.8

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.