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 04/16/2026
TICKER RAA
NET ASSETS $563M
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 $28.98
30 DAY MEDIAN BID-ASK SPREAD 0.000724

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 18.26% 17.62%
RAA - Market Price 17.80% 17.60%
S&P 500 Index Total Return 16.99% 16.88%
1 MO 3 MO YTD Since Inception
RAA - NAV -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 10.18%
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 04/16/2026

NET ASSET VALUE

$28.98

CLOSING PRICE

$28.98

PREMIUM/DISCOUNT

0.01%
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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 6
Discount 5 13 16 8 4

Asset Allocation

As of 4/16/2026

Equities

48.73%
Nasdaq
21.82%
US Large Cap
17.42%
Dividend Payers
2.27%
Emerging Ex. China
2.14%
US Small Cap
2.04%
Japan
2.03%
Europe
1.01%

Fixed Income

27.23%
High Yield
6.72%
Corporate Bonds
5.72%
Emerging Mkt Bonds
3.87%
TIPS
3.82%
Long Term Treasuries
3.77%
T-Bills
3.33%

Alternatives

24.04%
Managed Futures
7.50%
Commodities
4.77%
Miners
3.09%
Gold
2.94%
Energy
2.75%
Bitcoin
2.10%
Real Estate
0.89%

Holdings

As of 04/16/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.42 98068500 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.50 42203200 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.72 37801400 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.72 32193000 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.77 26826000 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.87 21794500 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.82 21487200 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.77 21245400 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.94 16540000 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.85 16056300 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.14 12068400 BBG00H5VLMJ6 137391
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.10 11813900 N/A 354135
VANGUARD SMALL-CAP ETF VB 2.04 11455700 BBG000HT3Z79 40976
Franklin FTSE Japan ETF FLJP 2.03 11400000 BBG00J3MDY16 297962
NVIDIA CORP NVDA 1.95 10959800 BBG000BBJQV0 55255
APPLE INC AAPL 1.59 8946910 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.26 7097770 BBG000BPH459 16889
AMAZON.COM INC AMZN 1.07 6003040 BBG000BVPV84 24041
Franklin FTSE Europe ETF FLEE 1.01 5711900 BBG00J3PR1S7 148061
Tesla Inc. TSLA 0.79 4443960 BBG000N9MNX3 11427
ALPHABET INC-CL A GOOGL 0.78 4404550 BBG009S39JX6 13108
META PLATFORMS INC META 0.77 4331970 BBG000MM2P62 6400
Broadcom Inc. AVGO 0.77 4351690 BBG00KHY5S69 10921
ALPHABET INC-CL C GOOG 0.72 4077430 BBG009S3NB30 12253
WAL-MART STORES INC WMT 0.70 3941940 BBG000BWXBC2 31581
BHP GROUP LTD BHP 0.64 3588550 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.64 3618060 BBG000C5Z1S3 7913
ADVANCED MICRO DEVICES INC AMD 0.52 2936760 BBG000BBQCY0 10554
NETFLIX INC NFLX 0.51 2887480 BBG000CL9VN6 26788
COSTCO WHOLESALE CORP COST 0.50 2819470 BBG000F6H8W8 2856
CISCO SYSTEMS INC CSCO 0.40 2242970 BBG000C3J3C9 26544
INTEL CORP INTC 0.39 2203850 BBG000C0G1D1 32173
NEWMONT GOLDCORP CORPORATION COM NEM 0.38 2130860 BBG000BPWXK1 18789
LAM RESH CORP LRCX 0.38 2123690 BBG000BNFLM9 8138
RIO TINTO PLC-SPON ADR RIO 0.37 2069180 BBG000FD28T3 20752
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.37 2065740 BBG000N7QR55 14470
APPLIED MATERIALS INC AMAT 0.36 2018510 BBG000BBPFB9 5177
CHEVRON CORP CVX 0.33 1856660 BBG000K4ND22 9868
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.32 1806830 BBG00CMNZNK7 1806830
SCHLUMBERGER LTD SLB 0.29 1616510 BBG000BT41Q8 31249
AGNICO EAGLE MINES LTD AEM 0.29 1646360 BBG000DLVDK3 7660
CANADIAN NATURAL RESOURCES CNQ 0.28 1556800 BBG000HW5GX3 33617
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.28 1591730 BBG000BRK7L6 24941
WILLIAMS COMPANIES INC. WMB 0.28 1583080 BBG000BWVCP8 22341
FREEPORT-MCMORAN INC FCX 0.28 1564700 BBG000BJDB15 22916
Cheniere Energy Inc LNG 0.27 1508650 BBG000C3HSR0 5742
LINDE PLC LIN 0.27 1498660 BBG01FND0CC1 3002
MARATHON PETROLEUM CORP MPC 0.27 1505170 BBG001DCCGR8 6653
OCCIDENTAL PETROLEUM CORP OXY 0.26 1444840 BBG000BQQ2S6 25406
EQT CORP EQT 0.26 1489470 BBG000BHZ5J9 25509
KLA CORPORATION KLAC 0.26 1478090 BBG000BMTFR4 852
EXXON MOBIL CORP XOM 0.26 1464330 BBG000GZQ728 9635
PEPSICO INC PEP 0.25 1399760 BBG000DH7JK6 8838
T-MOBILE US INC TMUS 0.25 1418870 BBG000NDV1D4 7198
GLENCORE PLC -UNSP ADR GLNCY 0.24 1339400 BBG001VKX1Z1 88702
TEXAS INSTRUMENTS INC TXN 0.23 1302460 BBG000BVV7G1 5838
AMGEN INC AMGN 0.22 1216930 BBG000BBS2Y0 3483
Barrick Mining Corp. B 0.21 1172440 N/A 27652
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1122880 BBG000PVRDL2 7759
GILEAD SCIENCES INC GILD 0.19 1092610 BBG000CKGBP2 7886
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1071960 BBG020BR8WR7 42454
ANALOG DEVICES INC ADI 0.19 1097490 BBG000BB6G37 3102
INTUITIVE SURGICAL INC ISRG 0.18 1036640 BBG000BJPDZ1 2263
AUTOMATIC DATA PROCESSING ADP 0.18 1041230 BBG000JG0547 5196
HONEYWELL INTERNATIONAL INC HON 0.17 937705 BBG000H556T9 4088
SHOPIFY INC - CLASS A SHOP 0.17 962713 BBG008HBD923 7584
FRANCO-NEVADA CORP FNV 0.17 947857 BBG000RD3CL8 3677
QUALCOMM INC QCOM 0.17 932415 BBG000CGC1X8 6934
VALE SA-SP ADR VALE 0.16 879187 BBG000BN5LG7 50441
BOOKING HOLDINGS INC BKNG 0.16 922800 BBG000BLBVN4 5000
APPLOVIN CORP APP 0.16 898622 BBG006HFPX77 1928
WESTERN DIGITAL CORP WDC 0.15 816696 BBG000BWNFZ9 2258
REALTY INCOME CORP O 0.15 836829 BBG000DHPN63 12946
PALO ALTO NETWORKS INC PANW 0.15 816984 BBG0014GJCT9 4893
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 854168 N/A 34864
CONSTELLATION ENERGY CORPORATION CEG 0.14 764004 BBG014KFRNP7 2554
ASML HOLDING NV-NY REG SHS ASML 0.14 798530 BBG000K6MRN4 566
WELLTOWER INC WELL 0.13 752072 BBG000BKY1G5 3506
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 745066 BBG0113JGQF0 1401
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 729400 BBG00ZXBJ153 5469
COMCAST CORP-CLASS A CMCSA 0.12 676048 BBG000BFT2L4 23034
VERTEX PHARMACEUTICALS INC VRTX 0.12 701832 BBG000C1S2X2 1611
INTUIT INC INTU 0.12 672797 BBG000BH5DV1 1738
STARBUCKS CORP SBUX 0.12 703569 BBG000CTQBF3 7153
PROLOGIS INC PLD 0.12 687534 BBG000B9Z0J8 4836
Marriott International, Inc Class A MAR 0.11 606329 BBG000BGD7W6 1673
ADOBE SYSTEMS INC ADBE 0.11 641232 BBG000BB5006 2584
FRANKLIN RESOURCES INC BEN 0.11 603216 BBG000BD0TF8 22720
Crowdstrike Holdings Inc. Class A CRWD 0.11 646119 BBG00BLYKS03 1545
KENVUE INC KVUE 0.10 544927 BBG01C79X561 31210
Kimberly-Clark Corp KMB 0.10 547456 BBG000BMW2Z0 5588
CADENCE DESIGN SYS INC CDNS 0.10 547003 BBG000C13CD9 1782
EVERSOURCE ENERGY ES 0.10 538359 BBG000BQ87N0 7782
ILLINOIS TOOL WORKS ITW 0.10 548750 BBG000BMBL90 2066
T ROWE PRICE GROUP INC TROW 0.10 564638 BBG000BVMPN3 5897
MERCADOLIBRE INC MELI 0.10 559394 BBG000GQPB11 307
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 551937 N/A 13736.6
AO Smith Corp AOS 0.09 497318 BBG000BC1L02 7859
GENUINE PARTS CO GPC 0.09 499976 BBG000BKL348 4497
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 482127 BBG000D4LWF6 8448
HORMEL FOODS CORP HRL 0.09 493344 BBG000BLF8D2 23605
EQUINIX INC EQIX 0.09 523670 BBG000MBDGM6 489
MEDTRONIC PLC MDT 0.09 529403 BBG000BNWG87 6181
PPG INDUSTRIES INC PPG 0.09 497990 BBG000BRJ809 4440
CLOROX COMPANY CLX 0.09 533093 BBG000BFS7D3 5207
MONSTER BEVERAGE CORP MNST 0.09 485092 BBG008NVB1C0 6437
STANLEY BLACK & DECKER INC SWK 0.09 519276 BBG000BTQR96 7584
CSX CORP CSX 0.09 507599 BBG000BGJRC8 11882
SYNOPSYS INC SNPS 0.09 524527 BBG000BSFRF3 1189
OREILLY AUTOMOTIVE INC ORLY 0.09 497667 BBG000BGYWY6 5368
Warner Bros Discovery Inc WBD 0.08 439253 BBG011386VF4 16037
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 434871 BBG000C30L48 310
REGENERON PHARMACEUTICALS REGN 0.08 477440 BBG000C734W3 640
DOORDASH INC CLASS A DASH 0.08 461595 BBG005D7QCJ3 2574
ROSS STORES INC ROST 0.08 460810 BBG000BSBZH7 2076
CINTAS CORP CTAS 0.08 449836 BBG000H3YXF8 2534
ABBVIE INC ABBV 0.08 428638 BBG0025Y4RY4 2051
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 444086 BBG00LBLDDR2 4282
AMERICAN ELECTRIC POWER AEP 0.08 474997 BBG000BB9KF2 3530
PACCAR INC PCAR 0.07 413530 BBG000BQVTF5 3325
Baker Hughes Company BKR 0.07 404747 BBG00GBVBK51 6679
AIRBNB INC ABNB 0.07 366712 BBG001Y2XS07 2661
J M Smucker Co COM STK NPV SJM 0.07 404881 BBG000BT1715 4310
FORTINET INC FTNT 0.07 385302 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 410242 BBG000Q5ZRM7 2061
International Business Machines Corporation IBM 0.07 415656 BBG000BLNNH6 1656
SIMON PROPERTY GROUP INC SPG 0.07 403707 BBG000BJ2D31 2005
XCEL ENERGY INC XEL 0.06 323390 BBG000BCTQ65 3990
PUBLIC STORAGE PSA 0.06 358769 BBG000BPPN67 1189
FASTENAL CO FAST 0.06 325562 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 318663 BBG000J6XT05 6696
NXP Semiconductors NV NXPI 0.06 343678 BBG000BND699 1608
AUTODESK INC ADSK 0.06 318783 BBG000BM7HL0 1311
FERROVIAL SE FER 0.06 316301 BBG01H7CZ9S9 4516
DIAMONDBACK ENERGY INC FANG 0.06 355755 BBG002PHSYX9 1906
MICROSTRATEGY INC-CL A MSTR 0.06 310242 BBG000GQJPZ0 2083
ELECTRONIC ARTS INC EA 0.06 326002 BBG000BP0KQ8 1603
Ventas Inc. VTR 0.05 278934 BBG000FRVHB9 3262
MICROCHIP TECHNOLOGY INC MCHP 0.05 257207 BBG000BHCP19 3346
PAYPAL HOLDINGS INC PYPL 0.05 283319 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 285970 BBG000CHSS88 1339
IDEXX LABS IDXX 0.05 295234 BBG000BLRT07 518
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 266646 N/A 2865
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 259625 BBG000BFGNJ5 811
Datadog Inc. Class A DDOG 0.05 255830 BBG003NJHZT9 2072
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 287630 BBG00B6BFWH9 2972
PAYCHEX INC PAYX 0.04 211715 BBG000BQSQ38 2298
ROPER TECHNOLOGIES INC ROP 0.04 241012 BBG000F1ZSN5 666
CINCINNATI FINANCIAL CORP CINF 0.04 229031 BBG000BFPK65 1402
AXON ENTERPRISE INC AXON 0.04 205974 BBG000BHJWG1 524
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 241955 BBG000BS1YV5 1131
KEURIG DR PEPPER INC KDP 0.04 235271 BBG000TJM7F0 9035
VICI PROPERTIES INC REIT VICI 0.04 221520 BBG00HVVB499 7800
EXTRA SPACE STORAGE INC EXR 0.04 232431 BBG000PV27K3 1641
COPART INC CPRT 0.04 202415 BBG000BM9RH1 6084
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 208986 BBG01BFR8YV1 2855
AVALONBAY COMMUNITIES INC AVB 0.04 223912 BBG000BLPBL5 1320
INSMED INC INSM 0.03 176060 BBG000BWM5P3 1233
KRAFT HEINZ CO/THE KHC 0.03 169967 BBG005CPNTQ2 7524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 188127 BBG000BBDV81 3108
IRON MOUNTAIN INC IRM 0.03 185307 BBG000KCZPC3 1574
EQUITY RESIDENTIAL EQR 0.03 163686 BBG000BG8M31 2706
VERISK ANALYTICS INC VRSK 0.03 157983 BBG000BCZL41 886
CHARTER COMMUNICATIONS INC-A CHTR 0.03 193967 BBG000VPGNR2 822
WORKDAY INC-CLASS A WDAY 0.03 160583 BBG000VC0T95 1286
DEXCOM INC DXCM 0.03 151422 BBG000QTF8K1 2473
CONSOLIDATED EDISON INC ED 0.03 141134 BBG000BHLYS1 1277
Sun Communities Inc SUI 0.02 108739 BBG000BLJWF3 848
ESSEX PROPERTY TRUST INC ESS 0.02 108872 BBG000CGJMB9 439
AIR PRODUCTS & CHEMICALS INC APD 0.02 109682 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 110270 BBG000D7JKW9 2754
Omega Healthcare Investors Inc OHI 0.02 112491 BBG000BGBTC2 2415
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 99861.6 BBG000B9ZXB4 1046
Zscaler Inc. ZS 0.02 128285 BBG003338H34 955
MID-AMERICA APARTMENT COMM MAA 0.02 107220 BBG000BLMY92 871
KIMCO REALTY CORP KIM 0.02 112622 BBG000CN3S73 4742
INVITATION HOMES INC REIT USD.01 INVH 0.02 112672 BBG00FQH6BS9 4289
MCDONALDS CORP MCD 0.02 105287 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 114437 BBG000BCQM58 1570
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 67286.7 BBG01BGWHFR5 979
Cash & Other Cash&Other -0.02 -114572 N/A -114572

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.