RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

How to Buy
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 07/01/2026
TICKER RAA
NET ASSETS $586M
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 $29.31
30 DAY MEDIAN BID-ASK SPREAD 0.00068

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 3.18% -3.97% 5.74% 0.68% 10.86% 0.68% 19.02% 11.92%
RAA - Market Price 3.12% -3.98% 5.76% 0.63% 10.84% 0.63% 19.02% 11.89%
S&P 500 Index Total Return 5.26% -4.98% 10.52% -4.33% 11.27% -4.33% 22.66% 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 07/01/2026

NET ASSET VALUE

$29.31

CLOSING PRICE

$29.32

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 1
Discount 13 16 8 14 0

Asset Allocation

As of 7/1/2026

Equities

40.60%
Nasdaq
15.88%
US Large Cap
9.99%
Emerging Ex. China
3.88%
Dividend Payers
3.85%
US Small Cap
3.00%
Japan
2.01%
Europe
1.99%

Fixed Income

27.80%
High Yield
5.98%
Corporate Bonds
5.97%
Long Term Treasuries
5.92%
Emerging Mkt Bonds
3.98%
T-Bills
2.98%
TIPS
2.97%

Alternatives

31.60%
Managed Futures
7.00%
Commodities
6.96%
Miners
5.95%
Gold
4.01%
Energy
3.58%
Bitcoin
2.05%
Real Estate
2.05%

Holdings

As of 07/01/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.99 58579500 BBG00RYR67P4 409475
INVESCO OPTIMUM YIELD DIVERS PDBC 6.96 40823400 N/A 2587030
SCHWAB HIGH YIELD BOND ETF SCYB 5.98 35044200 BBG01F80WX71 1345260
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.97 34983000 BBG000PWYVH7 425636
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.92 34714700 BBG00PZFJPC3 1119110
iM DBi Managed Futures Strategy ETF DBMF 5.80 34016100 N/A 1114550
SPROTT PHYSICAL GOLD TRUS PHYS 4.01 23529800 BBG000Q83F79 774770
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 23341500 BBG000NXKWH0 243090
ISHARES MSCI EMR MRK EX CHNA EMXC 3.88 22724000 BBG00H5VLMJ6 230630
VANGUARD SMALL-CAP ETF VB 3.00 17582900 BBG000HT3Z79 58316
SCHWAB U.S. TIPS ETF SCHP 2.97 17413600 BBG000BGN6P5 663627
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.05 12046900 N/A 454428
Franklin FTSE Japan ETF FLJP 2.01 11786000 BBG00J3MDY16 296056
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 11752200 BBG01922X0X9 235703
Franklin FTSE Europe ETF FLEE 1.99 11690800 BBG00J3PR1S7 304130
BHP GROUP LTD BHP 1.24 7251640 BBG000BD5NZ4 88198
NVIDIA CORP NVDA 1.20 7031280 BBG000BBJQV0 35587
Simplify DBi CTA Managed Futures Index ETF SDMF 1.20 7063130 BBG020BR8WR7 277854
APPLE INC AAPL 1.08 6315330 BBG000B9XRY4 21453
MICRON TECHNOLOGY INC MU 0.82 4786680 BBG000C5Z1S3 4637
MICROSOFT CORP MSFT 0.72 4239380 BBG000BPH459 11032
NEWMONT GOLDCORP CORPORATION COM NEM 0.68 3993520 BBG000BPWXK1 42803
AMAZON.COM INC AMZN 0.67 3905870 BBG000BVPV84 16160
RIO TINTO PLC-SPON ADR RIO 0.67 3944410 BBG000FD28T3 42254
ADVANCED MICRO DEVICES INC AMD 0.58 3415120 BBG000BBQCY0 6314
Tesla Inc. TSLA 0.54 3143390 BBG000N9MNX3 7391
ALPHABET INC-CL A GOOGL 0.53 3116880 BBG009S39JX6 8629
FREEPORT-MCMORAN INC FCX 0.52 3047990 BBG000BJDB15 50355
AGNICO EAGLE MINES LTD AEM 0.52 3033050 BBG000DLVDK3 19587
CHEVRON CORP CVX 0.51 2986230 BBG000K4ND22 18023
ALPHABET INC-CL C GOOG 0.49 2895330 BBG009S3NB30 8090
GLENCORE PLC -UNSP ADR GLNCY 0.47 2732750 BBG001VKX1Z1 203481
META PLATFORMS INC META 0.47 2737870 BBG000MM2P62 4467
Broadcom Inc. AVGO 0.44 2593510 BBG00KHY5S69 7022
INTEL CORP INTC 0.42 2473710 BBG000C0G1D1 19475
MARATHON PETROLEUM CORP MPC 0.41 2393630 BBG001DCCGR8 9037
ExxonMobil Holdings Corp 2670549D 0.40 2349470 N/A 17240
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.40 2324080 BBG000BRK7L6 43384
Cheniere Energy Inc LNG 0.40 2354560 BBG000C3HSR0 9653
CANADIAN NATURAL RESOURCES CNQ 0.39 2301340 BBG000HW5GX3 59130
OCCIDENTAL PETROLEUM CORP OXY 0.39 2281700 BBG000BQQ2S6 47595
EQT CORP EQT 0.39 2302770 BBG000BHZ5J9 43879
SCHLUMBERGER LTD SLB 0.39 2280790 BBG000BT41Q8 50583
WILLIAMS COMPANIES INC. WMB 0.39 2266790 BBG000BWVCP8 31150
WAL-MART STORES INC WMT 0.38 2210460 BBG000BWXBC2 20313
Barrick Mining Corp. B 0.38 2228040 N/A 61126
APPLIED MATERIALS INC AMAT 0.35 2025630 BBG000BBPFB9 3112
LAM RESH CORP LRCX 0.33 1941430 BBG000BNFLM9 4962
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.33 1937890 N/A 78840
CISCO SYSTEMS INC CSCO 0.32 1900010 BBG000C3J3C9 16238
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1823380 BBG000PVRDL2 16362
NUCOR CORP NUE 0.30 1786770 BBG000BQ8KV2 8158
REALTY INCOME CORP O 0.30 1764280 BBG000DHPN63 28539
COSTCO WHOLESALE CORP COST 0.29 1713410 BBG000F6H8W8 1853
AUTOMATIC DATA PROCESSING ADP 0.28 1636200 BBG000JG0547 6941
VALE SA-SP ADR VALE 0.27 1570030 BBG000BN5LG7 105371
FRANCO-NEVADA CORP FNV 0.26 1540120 BBG000RD3CL8 7387
WELLTOWER INC WELL 0.26 1509820 BBG000BKY1G5 6559
Cash & Other Cash&Other 0.25 1478780 N/A 1478780
PROLOGIS INC PLD 0.24 1406710 BBG000B9Z0J8 10283
KLA CORPORATION KLAC 0.23 1353310 BBG000BMTFR4 5084
NETFLIX INC NFLX 0.22 1315020 BBG000CL9VN6 17725
PALO ALTO NETWORKS INC PANW 0.21 1211020 BBG0014GJCT9 3440
KENVUE INC KVUE 0.20 1191930 BBG01C79X561 61662
Kimberly-Clark Corp KMB 0.20 1194750 BBG000BMW2Z0 10721
HORMEL FOODS CORP HRL 0.20 1157370 BBG000BLF8D2 46518
MEDTRONIC PLC MDT 0.20 1179370 BBG000BNWG87 14891
FRANKLIN RESOURCES INC BEN 0.20 1189100 BBG000BD0TF8 34912
CLOROX COMPANY CLX 0.20 1198690 BBG000BFS7D3 12432
ILLINOIS TOOL WORKS ITW 0.20 1181320 BBG000BMBL90 4392
T ROWE PRICE GROUP INC TROW 0.20 1191750 BBG000BVMPN3 10264
SANDISK CORP/DE SNDKV SNDK 0.20 1164460 BBG01R388JG1 573
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1163630 BBG000N7QR55 9255
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1186310 N/A 27184
EQUINIX INC EQIX 0.19 1108900 BBG000MBDGM6 1094
EVERSOURCE ENERGY ES 0.19 1122200 BBG000BQ87N0 15543
STANLEY BLACK & DECKER INC SWK 0.19 1137550 BBG000BTQR96 12454
TEXAS INSTRUMENTS INC TXN 0.18 1084420 BBG000BVV7G1 3634
International Business Machines Corporation IBM 0.18 1036800 BBG000BLNNH6 3622
GENUINE PARTS CO GPC 0.17 1003070 BBG000BKL348 8544
AO Smith Corp AOS 0.17 993743 BBG000BC1L02 15992
PPG INDUSTRIES INC PPG 0.17 1000740 BBG000BRJ809 8162
LINDE PLC LIN 0.17 1004140 BBG01FND0CC1 1882
ABBVIE INC ABBV 0.17 975368 BBG0025Y4RY4 3885
WESTERN DIGITAL CORP WDC 0.16 917301 BBG000BWNFZ9 1533
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.16 908784 BBG0113JGQF0 993
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 909463 BBG00ZXBJ153 3343
J M Smucker Co COM STK NPV SJM 0.15 865585 BBG000BT1715 7536
PEPSICO INC PEP 0.14 817175 BBG000DH7JK6 5789
QUALCOMM INC QCOM 0.14 792625 BBG000CGC1X8 4357
AMGEN INC AMGN 0.14 810824 BBG000BBS2Y0 2244
Crowdstrike Holdings Inc. Class A CRWD 0.14 826059 BBG00BLYKS03 4276
T-MOBILE US INC TMUS 0.14 796076 BBG000NDV1D4 4600
SIMON PROPERTY GROUP INC SPG 0.14 820863 BBG000BJ2D31 3681
ANALOG DEVICES INC ADI 0.13 777182 BBG000BB6G37 1998
PUBLIC STORAGE PSA 0.12 710042 BBG000BPPN67 2198
ERIE INDEMNITY COMPANY-CL A ERIE 0.12 690713 BBG000BBTJZ1 2771
DIGITAL REALTY TRUST INC DLR 0.12 706691 BBG000Q5ZRM7 4008
APPLOVIN CORP APP 0.12 693341 BBG006HFPX77 1228
ASML HOLDING NV-NY REG SHS ASML 0.12 722472 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 658748 BBG000FRVHB9 7348
SHOPIFY INC - CLASS A SHOP 0.11 657045 BBG008HBD923 5402
INTUITIVE SURGICAL INC ISRG 0.11 656684 BBG000BJPDZ1 1632
GILEAD SCIENCES INC GILD 0.11 647864 BBG000CKGBP2 5143
ARM HOLDINGS PLC ARM 0.10 564587 BBG01J1GXZF0 1673
VERTEX PHARMACEUTICALS INC VRTX 0.10 577194 BBG000C1S2X2 1159
BOOKING HOLDINGS INC BKNG 0.10 591571 BBG000BLBVN4 3239
IRON MOUNTAIN INC IRM 0.09 547697 BBG000KCZPC3 4493
FORTINET INC FTNT 0.09 510167 BBG000BCMBG4 3209
CADENCE DESIGN SYS INC CDNS 0.08 467252 BBG000C13CD9 1237
FASTENAL CO FAST 0.08 454007 BBG000BJ8YN7 9508
Marriott International, Inc Class A MAR 0.08 451929 BBG000BGD7W6 1227
MONSTER BEVERAGE CORP MNST 0.08 440119 BBG008NVB1C0 4521
EXTRA SPACE STORAGE INC EXR 0.08 468971 BBG000PV27K3 3184
STARBUCKS CORP SBUX 0.08 489965 BBG000CTQBF3 4739
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.08 466915 BBG00CMNZNK7 466915
VICI PROPERTIES INC REIT VICI 0.08 459778 BBG00HVVB499 17502
AVALONBAY COMMUNITIES INC AVB 0.08 445606 BBG000BLPBL5 2340
COMCAST CORP-CLASS A CMCSA 0.07 399328 BBG000BFT2L4 16828
EQUITY RESIDENTIAL EQR 0.07 421525 BBG000BG8M31 6142
CONSTELLATION ENERGY CORPORATION CEG 0.07 394718 BBG014KFRNP7 1669
MERCADOLIBRE INC MELI 0.07 402446 BBG000GQPB11 231
CSX CORP CSX 0.07 427479 BBG000BGJRC8 8845
SYNOPSYS INC SNPS 0.07 408168 BBG000BSFRF3 898
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 349215 BBG000D4LWF6 5884
ADOBE SYSTEMS INC ADBE 0.06 370903 BBG000BB5006 1758
NXP Semiconductors NV NXPI 0.06 329432 BBG000BND699 1180
DOORDASH INC CLASS A DASH 0.06 342988 BBG005D7QCJ3 1816
INTUIT INC INTU 0.06 322900 BBG000BH5DV1 1209
CINTAS CORP CTAS 0.06 328075 BBG000H3YXF8 1883
OREILLY AUTOMOTIVE INC ORLY 0.06 363530 BBG000BGYWY6 3922
Datadog Inc. Class A DDOG 0.06 373710 BBG003NJHZT9 1413
AMERICAN ELECTRIC POWER AEP 0.06 346268 BBG000BB9KF2 2564
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 319764 BBG022XF4SZ9 1442
PACCAR INC PCAR 0.05 295462 BBG000BQVTF5 2437
Warner Bros Discovery Inc WBD 0.05 310862 BBG011386VF4 11595
ASTERA LABS INC ALAB 0.05 276181 BBG00TDKHW99 641
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 298308 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 299313 BBG000CGJMB9 1014
TERADYNE INC TER 0.05 270079 BBG000BV4DR6 632
ROSS STORES INC ROST 0.05 301110 BBG000BSBZH7 1421
AIRBNB INC ABNB 0.05 281362 BBG001Y2XS07 1910
REGENERON PHARMACEUTICALS REGN 0.05 292994 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 315549 BBG00FQH6BS9 10397
LUMENTUM HOLDINGS INC LITE 0.05 265985 BBG0073F9RT7 332
XCEL ENERGY INC XEL 0.04 228500 BBG000BCTQ65 2867
MICROCHIP TECHNOLOGY INC MCHP 0.04 222346 BBG000BHCP19 2507
Sun Communities Inc SUI 0.04 241560 BBG000BLJWF3 2000
HOST HOTELS & RESORTS INC HST 0.04 248047 BBG000BL8804 10623
AXON ENTERPRISE INC AXON 0.04 215607 BBG000BHJWG1 363
Baker Hughes Company BKR 0.04 244666 BBG00GBVBK51 4546
EXELON CORP EXC 0.04 225332 BBG000J6XT05 4871
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 211771 BBG000BS1YV5 846
MID-AMERICA APARTMENT COMM MAA 0.04 237338 BBG000BLMY92 1696
KEURIG DR PEPPER INC KDP 0.04 212133 BBG000TJM7F0 6357
KIMCO REALTY CORP KIM 0.04 230510 BBG000CN3S73 9191
FERROVIAL SE FER 0.04 223505 BBG01H7CZ9S9 3323
MCDONALDS CORP MCD 0.04 234674 BBG000BNSZP1 871
DIAMONDBACK ENERGY INC FANG 0.04 224236 BBG002PHSYX9 1304
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 243186 BBG00LBLDDR2 2947
ROCKET LAB CORP RKLB 0.04 234264 BBG01V7JN3F3 2341
W. P. CAREY REIT INC WPC 0.04 234098 BBG000BCQM58 3306
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 227691 BBG00B6BFWH9 2146
ELECTRONIC ARTS INC EA 0.04 230720 BBG000BP0KQ8 1123
PAYCHEX INC PAYX 0.03 161460 BBG000BQSQ38 1572
PAYPAL HOLDINGS INC PYPL 0.03 187342 BBG0077VNXV6 4251
ROPER TECHNOLOGIES INC ROP 0.03 164572 BBG000F1ZSN5 464
Old Dominion Freight Line Inc. ODFL 0.03 204664 BBG000CHSS88 939
AIR PRODUCTS & CHEMICALS INC APD 0.03 198854 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 195142 BBG000BLRT07 363
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 197357 BBG000B9ZXB4 2141
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 187337 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 189761 BBG001NVJ6W4 828
AUTODESK INC ADSK 0.03 196963 BBG000BM7HL0 986
CONSOLIDATED EDISON INC ED 0.03 192942 BBG000BHLYS1 1739
THOMSON REUTERS CORP TRI 0.03 162772 N/A 1917
KRAFT HEINZ CO/THE KHC 0.02 139381 BBG005CPNTQ2 5573
WORKDAY INC-CLASS A WDAY 0.02 111511 BBG000VC0T95 856
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 139254 BBG01BFR8YV1 2147
COPART INC CPRT 0.02 128375 BBG000BM9RH1 4459
DEXCOM INC DXCM 0.02 115272 BBG000QTF8K1 1674
MICROSTRATEGY INC-CL A MSTR 0.02 127758 BBG000GQJPZ0 1368
EURO EUR 0.00 1949.35 N/A 1713.03
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 82.14 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 146.45 BBG003338H34 1
INSMED INC INSM 0.00 107 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 227.29 BBG020QYV152 1

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.