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 07/29/2026
TICKER RAA
NET ASSETS $601M
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 $29.09
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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/29/2026

NET ASSET VALUE

$29.09

CLOSING PRICE

$29.09

PREMIUM/DISCOUNT

0.00%
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 9
Discount 13 16 8 14 5

Asset Allocation

As of 7/29/2026

Equities

39.17%
Nasdaq
14.75%
US Large Cap
9.90%
Dividend Payers
4.16%
Emerging Ex. China
3.44%
US Small Cap
2.94%
Europe
2.03%
Japan
1.95%

Fixed Income

26.98%
High Yield
6.05%
Corporate Bonds
6.00%
Long Term Treasuries
5.87%
Emerging Mkt Bonds
3.97%
TIPS
3.00%
T-Bills
2.09%

Alternatives

33.85%
Commodities
7.84%
Managed Futures
7.18%
Miners
6.01%
Energy
4.46%
Gold
4.09%
Bitcoin
2.19%
Real Estate
2.08%

Holdings

As of 07/29/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.90 59473000 BBG00RYR67P4 1277340
INVESCO OPTIMUM YIELD DIVERS PDBC 7.84 47061400 N/A 2678510
SCHWAB HIGH YIELD BOND ETF SCYB 6.05 36309100 BBG01F80WX71 1401360
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.00 36016200 BBG000PWYVH7 443222
iM DBi Managed Futures Strategy ETF DBMF 5.95 35708300 N/A 1150770
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.87 35277800 BBG00PZFJPC3 1169690
SPROTT PHYSICAL GOLD TRUS PHYS 4.09 24567900 BBG000Q83F79 803661
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.97 23863000 BBG000NXKWH0 252358
ISHARES MSCI EMR MRK EX CHNA EMXC 3.44 20682900 BBG00H5VLMJ6 238118
SCHWAB U.S. TIPS ETF SCHP 3.00 18039000 BBG000BGN6P5 690090
VANGUARD SMALL-CAP ETF VB 2.94 17635100 BBG000HT3Z79 60188
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.19 13175000 N/A 469196
Franklin FTSE Europe ETF FLEE 2.03 12168500 BBG00J3PR1S7 314010
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.02 12133300 BBG01922X0X9 243347
Franklin FTSE Japan ETF FLJP 1.95 11692100 BBG00J3MDY16 305676
BHP GROUP LTD BHP 1.26 7567830 BBG000BD5NZ4 91058
APPLE INC AAPL 1.25 7483810 BBG000B9XRY4 22129
Simplify DBi CTA Managed Futures Index ETF SDMF 1.23 7396410 BBG020BR8WR7 286876
NVIDIA CORP NVDA 1.16 6979260 BBG000BBJQV0 36731
MICROSOFT CORP MSFT 0.74 4440440 BBG000BPH459 11370
RIO TINTO PLC-SPON ADR RIO 0.68 4084140 BBG000FD28T3 43606
NEWMONT GOLDCORP CORPORATION COM NEM 0.67 4035490 BBG000BPWXK1 44181
AMAZON.COM INC AMZN 0.63 3780520 BBG000BVPV84 16680
CHEVRON CORP CVX 0.59 3567640 BBG000K4ND22 18595
MICRON TECHNOLOGY INC MU 0.59 3522810 BBG000C5Z1S3 4767
FREEPORT-MCMORAN INC FCX 0.52 3117500 BBG000BJDB15 51967
ALPHABET INC-CL A GOOGL 0.50 2993020 BBG009S39JX6 8889
Suncor Energy Inc. SU 0.49 2947050 BBG000BC1LY5 44788
AGNICO EAGLE MINES LTD AEM 0.49 2919070 BBG000DLVDK3 20211
GLENCORE PLC -UNSP ADR GLNCY 0.48 2909680 BBG001VKX1Z1 210085
MARATHON PETROLEUM CORP MPC 0.48 2878200 BBG001DCCGR8 9323
CANADIAN NATURAL RESOURCES CNQ 0.47 2834750 BBG000HW5GX3 61028
ALPHABET INC-CL C GOOG 0.47 2803600 BBG009S3NB30 8350
OCCIDENTAL PETROLEUM CORP OXY 0.46 2752700 BBG000BQQ2S6 49129
ADVANCED MICRO DEVICES INC AMD 0.46 2790420 BBG000BBQCY0 6496
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.46 2787960 BBG023CY9MM1 17786
META PLATFORMS INC META 0.45 2692050 BBG000MM2P62 4597
Broadcom Inc. AVGO 0.45 2677410 BBG00KHY5S69 7230
Cheniere Energy Inc LNG 0.43 2577050 BBG000C3HSR0 9965
SCHLUMBERGER LTD SLB 0.43 2556740 BBG000BT41Q8 52221
EQT CORP EQT 0.40 2380530 BBG000BHZ5J9 45283
WAL-MART STORES INC WMT 0.40 2394390 BBG000BWXBC2 20963
Tesla Inc. TSLA 0.38 2274690 BBG000N9MNX3 7625
WILLIAMS COMPANIES INC. WMB 0.38 2253840 BBG000BWVCP8 32138
Barrick Mining Corp ABX 0.38 2294390 N/A 63102
NUCOR CORP NUE 0.36 2155180 BBG000BQ8KV2 8418
AUTOMATIC DATA PROCESSING ADP 0.33 1954320 BBG000JG0547 7149
REALTY INCOME CORP O 0.32 1930090 BBG000DHPN63 29449
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.32 1951680 N/A 81388
CISCO SYSTEMS INC CSCO 0.31 1884940 BBG000C3J3C9 16758
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1847900 BBG000PVRDL2 16882
COSTCO WHOLESALE CORP COST 0.31 1855530 BBG000F6H8W8 1905
INTEL CORP INTC 0.27 1645710 BBG000C0G1D1 20099
FRANCO-NEVADA CORP FNV 0.27 1633710 BBG000TRN6Z1 7621
WELLTOWER INC WELL 0.27 1631390 BBG000BKY1G5 6767
VALE SA-SP ADR VALE 0.27 1593580 BBG000BN5LG7 108777
PROLOGIS INC PLD 0.26 1541250 BBG000B9Z0J8 10595
APPLIED MATERIALS INC AMAT 0.23 1392280 BBG000BBPFB9 3190
MEDTRONIC PLC MDT 0.22 1344530 BBG000BNWG87 15359
NETFLIX INC NFLX 0.22 1347210 BBG000CL9VN6 18297
ILLINOIS TOOL WORKS ITW 0.22 1322460 BBG000BMBL90 4522
LAM RESH CORP LRCX 0.22 1291530 BBG000BNFLM9 5118
KENVUE INC KVUE 0.21 1259910 BBG01C79X561 63664
Kimberly-Clark Corp KMB 0.21 1251990 BBG000BMW2Z0 11059
HORMEL FOODS CORP HRL 0.21 1239070 BBG000BLF8D2 48026
CLOROX COMPANY CLX 0.21 1277460 BBG000BFS7D3 12822
T ROWE PRICE GROUP INC TROW 0.21 1257170 BBG000BVMPN3 10576
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1285450 N/A 28042
EVERSOURCE ENERGY ES 0.20 1198930 BBG000BQ87N0 16037
STANLEY BLACK & DECKER INC SWK 0.20 1195130 BBG000BTQR96 12844
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1173540 BBG000N7QR55 9541
GENUINE PARTS CO GPC 0.19 1144340 BBG000BKL348 8804
EQUINIX INC EQIX 0.19 1128980 BBG000MBDGM6 1120
FRANKLIN RESOURCES INC BEN 0.19 1167010 BBG000BD0TF8 36030
PALO ALTO NETWORKS INC PANW 0.19 1113350 BBG0014GJCT9 3544
AO Smith Corp AOS 0.17 1022790 BBG000BC1L02 16486
TEXAS INSTRUMENTS INC TXN 0.17 1014120 BBG000BVV7G1 3738
ABBVIE INC ABBV 0.17 1050300 BBG0025Y4RY4 3989
PPG INDUSTRIES INC PPG 0.16 941832 BBG000BRJ809 8422
J M Smucker Co COM STK NPV SJM 0.16 981740 BBG000BT1715 7770
LINDE PLC LIN 0.16 988603 BBG01FND0CC1 1934
AMGEN INC AMGN 0.15 890021 BBG000BBS2Y0 2296
KLA CORPORATION KLAC 0.15 891796 BBG000BMTFR4 5240
SIMON PROPERTY GROUP INC SPG 0.15 891784 BBG000BJ2D31 3785
PEPSICO INC PEP 0.14 856838 BBG000DH7JK6 5971
International Business Machines Corporation IBM 0.14 843715 BBG000BLNNH6 3726
T-MOBILE US INC TMUS 0.14 858590 BBG000NDV1D4 4730
DIGITAL REALTY TRUST INC DLR 0.13 778689 BBG000Q5ZRM7 4138
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 778954 BBG0113JGQF0 1019
Crowdstrike Holdings Inc. Class A CRWD 0.13 790348 BBG00BLYKS03 4406
Ventas Inc. VTR 0.12 740913 BBG000FRVHB9 7582
WESTERN DIGITAL CORP WDC 0.12 720320 BBG000BWNFZ9 1559
PUBLIC STORAGE PSA 0.12 741240 BBG000BPPN67 2250
QUALCOMM INC QCOM 0.12 698536 BBG000CGC1X8 4487
ERIE INDEMNITY COMPANY-CL A ERIE 0.12 708119 BBG000BBTJZ1 2849
GILEAD SCIENCES INC GILD 0.12 703336 BBG000CKGBP2 5299
SHOPIFY INC - CLASS A SHOP 0.12 717927 BBG004DW5NB8 5558
ANALOG DEVICES INC ADI 0.12 724408 BBG000BB6G37 2050
BOOKING HOLDINGS INC BKNG 0.11 672946 BBG000BLBVN4 3343
INTUITIVE SURGICAL INC ISRG 0.10 594620 BBG000BJPDZ1 1684
VERTEX PHARMACEUTICALS INC VRTX 0.10 572746 BBG000C1S2X2 1185
SANDISK CORP/DE SNDKV SNDK 0.10 582105 BBG01R388JG1 573
ASML HOLDING NV-NY REG SHS ASML 0.10 607870 BBG000K6MRN4 392
IRON MOUNTAIN INC IRM 0.09 558227 BBG000KCZPC3 4623
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.09 563240 BBG00ZXBJ153 3447
FASTENAL CO FAST 0.08 467957 BBG000BJ8YN7 9794
ADOBE SYSTEMS INC ADBE 0.08 476808 BBG000BB5006 1810
Marriott International, Inc Class A MAR 0.08 477543 BBG000BGD7W6 1253
MONSTER BEVERAGE CORP MNST 0.08 452217 BBG008NVB1C0 4651
EXTRA SPACE STORAGE INC EXR 0.08 498597 BBG000PV27K3 3262
STARBUCKS CORP SBUX 0.08 507058 BBG000CTQBF3 4869
CSX CORP CSX 0.08 463307 BBG000BGJRC8 9131
FORTINET INC FTNT 0.08 507618 BBG000BCMBG4 3313
APPLOVIN CORP APP 0.08 500923 BBG006HFPX77 1254
AVALONBAY COMMUNITIES INC AVB 0.08 460340 BBG000BLPBL5 2392
VICI PROPERTIES INC REIT VICI 0.08 489642 BBG00HVVB499 18048
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 394229 BBG000D4LWF6 6066
CADENCE DESIGN SYS INC CDNS 0.07 420276 BBG000C13CD9 1263
COMCAST CORP-CLASS A CMCSA 0.07 427574 BBG000BFT2L4 17374
EQUITY RESIDENTIAL EQR 0.07 435407 BBG000BG8M31 6324
CONSTELLATION ENERGY CORPORATION CEG 0.07 443932 BBG014KFRNP7 1721
MERCADOLIBRE INC MELI 0.07 430425 BBG000GQPB11 231
INTUIT INC INTU 0.07 411416 BBG000BH5DV1 1235
CINTAS CORP CTAS 0.07 418986 BBG000H3YXF8 1935
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 353964 BBG022XF4SZ9 1468
PACCAR INC PCAR 0.06 336683 BBG000BQVTF5 2515
ARM HOLDINGS PLC ARM 0.06 387935 BBG01J1GXZF0 1725
DOORDASH INC CLASS A DASH 0.06 361514 BBG005D7QCJ3 1868
ROSS STORES INC ROST 0.06 364586 BBG000BSBZH7 1447
SYNOPSYS INC SNPS 0.06 345290 BBG000BSFRF3 924
OREILLY AUTOMOTIVE INC ORLY 0.06 364876 BBG000BGYWY6 4026
Datadog Inc. Class A DDOG 0.06 380184 BBG003NJHZT9 1439
AMERICAN ELECTRIC POWER AEP 0.06 341875 BBG000BB9KF2 2642
Warner Bros Discovery Inc WBD 0.05 306629 BBG011386VF4 11959
HOST HOTELS & RESORTS INC HST 0.05 279944 BBG000BL8804 10961
Baker Hughes Company BKR 0.05 274575 BBG00GBVBK51 4676
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 279722 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 308672 BBG000CGJMB9 1040
NXP Semiconductors NV NXPI 0.05 290622 BBG000BND699 1206
AIRBNB INC ABNB 0.05 300206 BBG001Y2XS07 1962
REGENERON PHARMACEUTICALS REGN 0.05 326152 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 322448 BBG00FQH6BS9 10709
XCEL ENERGY INC XEL 0.04 231919 BBG000BCTQ65 2945
PAYPAL HOLDINGS INC PYPL 0.04 255631 BBG0077VNXV6 4381
Sun Communities Inc SUI 0.04 262533 BBG000BLJWF3 2052
Old Dominion Freight Line Inc. ODFL 0.04 214992 BBG000CHSS88 965
EXELON CORP EXC 0.04 236420 BBG000J6XT05 5027
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 214887 BBG000BS1YV5 872
MID-AMERICA APARTMENT COMM MAA 0.04 240140 BBG000BLMY92 1748
KIMCO REALTY CORP KIM 0.04 246497 BBG000CN3S73 9477
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.04 236844 BBG000B9ZXB4 2193
FERROVIAL SA FER 0.04 216506 BBG01H0DF657 3461.88
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 254480 BBG00CMNZNK7 254480
AUTODESK INC ADSK 0.04 248193 BBG000BM7HL0 1012
MCDONALDS CORP MCD 0.04 243553 BBG000BNSZP1 897
DIAMONDBACK ENERGY INC FANG 0.04 264843 BBG002PHSYX9 1330
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 267168 BBG00LBLDDR2 3025
W. P. CAREY REIT INC WPC 0.04 254761 BBG000BCQM58 3410
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 244198 BBG00B6BFWH9 2198
ELECTRONIC ARTS INC EA 0.04 240038 BBG000BP0KQ8 1149
PAYCHEX INC PAYX 0.03 195164 BBG000BQSQ38 1598
MICROCHIP TECHNOLOGY INC MCHP 0.03 184491 BBG000BHCP19 2585
ROPER TECHNOLOGIES INC ROP 0.03 189344 BBG000F1ZSN5 464
ASTERA LABS INC ALAB 0.03 160083 BBG00TDKHW99 641
KRAFT HEINZ CO/THE KHC 0.03 158235 BBG005CPNTQ2 5729
AXON ENTERPRISE INC AXON 0.03 192826 BBG000BHJWG1 363
IDEXX LABS IDXX 0.03 206827 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 190981 BBG000BC4JJ4 649
TERADYNE INC TER 0.03 201867 BBG000BV4DR6 632
KEURIG DR PEPPER INC KDP 0.03 205652 BBG000TJM7F0 6539
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 177991 BBG000BFGNJ5 621
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 158108 BBG01BFR8YV1 2199
CONSOLIDATED EDISON INC ED 0.03 201040 BBG000BHLYS1 1791
LUMENTUM HOLDINGS INC LITE 0.03 199980 BBG0073F9RT7 332
THOMSON REUTERS CORP TRI 0.03 209383 N/A 1969
WORKDAY INC-CLASS A WDAY 0.02 148185 BBG000VC0T95 882
Nebius Group NV NBIS 0.02 126580 BBG001NVJ6W4 854
COPART INC CPRT 0.02 141433 BBG000BM9RH1 4589
DEXCOM INC DXCM 0.02 129692 BBG000QTF8K1 1726
MICROSTRATEGY INC-CL A MSTR 0.02 130102 BBG000GQJPZ0 1394
ROCKET LAB CORP RKLB 0.02 140230 BBG01V7JN3F3 2393
Cash & Other Cash&Other 0.00 -23298.6 N/A -23298.6
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 111.94 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 153.77 BBG003338H34 1
INSMED INC INSM 0.00 103.12 BBG000BWM5P3 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.