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 04/01/2026
TICKER RAA
NET ASSETS $538M
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 $27.75
30 DAY MEDIAN BID-ASK SPREAD 0.00073

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 1.99% 0.22% 5.06% 2.57% 4.84% - 17.62% 12.32%
RAA - Market Price 1.98% 0.23% 5.04% 2.59% 4.80% - 17.60% 12.36%
S&P 500 Index Total Return -0.76% 0.06% 0.74% 2.65% 0.68% - 16.88% 16.19%
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 04/01/2026

NET ASSET VALUE

$27.75

CLOSING PRICE

$27.76

PREMIUM/DISCOUNT

0.04%
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 1
Discount 5 13 16 8 0

Asset Allocation

As of 4/1/2026

Equities

47.16%
Nasdaq
20.75%
US Large Cap
16.98%
Dividend Payers
2.34%
Japan
2.05%
Emerging Ex. China
2.03%
US Small Cap
2.00%
Europe
1.01%

Fixed Income

28.22%
High Yield
6.92%
Corporate Bonds
5.93%
Emerging Mkt Bonds
3.96%
TIPS
3.95%
Long Term Treasuries
3.94%
T-Bills
3.52%

Alternatives

24.62%
Managed Futures
7.78%
Commodities
4.91%
Miners
3.08%
Gold
3.05%
Energy
2.93%
Bitcoin
1.98%
Real Estate
0.89%

Holdings

As of 04/01/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 16.98 91268900 BBG00RYR67P4 728287
iM DBi Managed Futures Strategy ETF DBMF 7.78 41804000 N/A 1383780
SCHWAB HIGH YIELD BOND ETF SCYB 6.92 37188100 BBG01F80WX71 1433620
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 31874600 BBG000PWYVH7 386265
INVESCO OPTIMUM YIELD DIVERS PDBC 4.91 26371400 N/A 1542190
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 21264900 BBG000NXKWH0 226560
SCHWAB U.S. TIPS ETF SCHP 3.95 21255800 BBG000BGN6P5 800295
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.94 21157000 BBG00PZFJPC3 676157
SPROTT PHYSICAL GOLD TRUS PHYS 3.05 16406500 BBG000Q83F79 454474
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.97 15992600 BBG01922X0X9 320751
Franklin FTSE Japan ETF FLJP 2.05 11005200 BBG00J3MDY16 297196
ISHARES MSCI EMR MRK EX CHNA EMXC 2.03 10898700 BBG00H5VLMJ6 137039
VANGUARD SMALL-CAP ETF VB 2.00 10766100 BBG000HT3Z79 40872
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.98 10653300 N/A 353225
NVIDIA CORP NVDA 1.80 9686110 BBG000BBJQV0 55113
APPLE INC AAPL 1.61 8661000 BBG000B9XRY4 33881
MICROSOFT CORP MSFT 1.16 6222780 BBG000BPH459 16847
Franklin FTSE Europe ETF FLEE 1.01 5431860 BBG00J3PR1S7 147681
AMAZON.COM INC AMZN 0.94 5049680 BBG000BVPV84 23981
Tesla Inc. TSLA 0.81 4345980 BBG000N9MNX3 11399
WAL-MART STORES INC WMT 0.73 3929430 BBG000BWXBC2 31501
ALPHABET INC-CL A GOOGL 0.72 3888670 BBG009S39JX6 13076
META PLATFORMS INC META 0.69 3697800 BBG000MM2P62 6384
ALPHABET INC-CL C GOOG 0.67 3604560 BBG009S3NB30 12223
Broadcom Inc. AVGO 0.64 3414850 BBG00KHY5S69 10893
BHP GROUP LTD BHP 0.62 3313140 BBG000BD5NZ4 45040
MICRON TECHNOLOGY INC MU 0.54 2903440 BBG000C5Z1S3 7893
COSTCO WHOLESALE CORP COST 0.53 2840200 BBG000F6H8W8 2850
NETFLIX INC NFLX 0.47 2553100 BBG000CL9VN6 26720
ADVANCED MICRO DEVICES INC AMD 0.41 2213090 BBG000BBQCY0 10528
NEWMONT GOLDCORP CORPORATION COM NEM 0.40 2132540 BBG000BPWXK1 18741
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.39 2114440 BBG000N7QR55 14434
CISCO SYSTEMS INC CSCO 0.38 2052150 BBG000C3J3C9 26476
RIO TINTO PLC-SPON ADR RIO 0.37 1962570 BBG000FD28T3 20700
CHEVRON CORP CVX 0.36 1943300 BBG000K4ND22 9844
LAM RESH CORP LRCX 0.34 1802280 BBG000BNFLM9 8118
APPLIED MATERIALS INC AMAT 0.34 1827380 BBG000BBPFB9 5165
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.30 1615510 BBG000BRK7L6 24877
WILLIAMS COMPANIES INC. WMB 0.30 1600730 BBG000BWVCP8 22285
AGNICO EAGLE MINES LTD AEM 0.30 1605430 BBG000DLVDK3 7642
Cheniere Energy Inc LNG 0.29 1580010 BBG000C3HSR0 5728
SCHLUMBERGER LTD SLB 0.29 1559390 BBG000BT41Q8 31169
MARATHON PETROLEUM CORP MPC 0.29 1580670 BBG001DCCGR8 6637
EXXON MOBIL CORP XOM 0.29 1545260 BBG000GZQ728 9611
INTEL CORP INTC 0.29 1541330 BBG000C0G1D1 32091
CANADIAN NATURAL RESOURCES CNQ 0.29 1561200 BBG000HW5GX3 33531
OCCIDENTAL PETROLEUM CORP OXY 0.29 1577030 BBG000BQQ2S6 25342
EQT CORP EQT 0.29 1554440 BBG000BHZ5J9 25445
LINDE PLC LIN 0.28 1479510 BBG01FND0CC1 2996
T-MOBILE US INC TMUS 0.27 1466520 BBG000NDV1D4 7180
FREEPORT-MCMORAN INC FCX 0.26 1398910 BBG000BJDB15 22858
GLENCORE PLC -UNSP ADR GLNCY 0.25 1327110 BBG001VKX1Z1 88474
PEPSICO INC PEP 0.25 1363390 BBG000DH7JK6 8816
KLA CORPORATION KLAC 0.24 1291860 BBG000BMTFR4 850
AMGEN INC AMGN 0.23 1227650 BBG000BBS2Y0 3475
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.23 1238620 BBG00CMNZNK7 1238620
Barrick Mining Corp. B 0.22 1163960 N/A 27582
GILEAD SCIENCES INC GILD 0.21 1103600 BBG000CKGBP2 7866
TEXAS INSTRUMENTS INC TXN 0.21 1143250 BBG000BVV7G1 5824
INTUITIVE SURGICAL INC ISRG 0.20 1049190 BBG000BJPDZ1 2259
Simplify DBi CTA Managed Futures Index ETF SDMF 0.20 1062720 N/A 42346
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1058970 BBG000PVRDL2 7741
AUTOMATIC DATA PROCESSING ADP 0.19 1043440 BBG000JG0547 5184
ANALOG DEVICES INC ADI 0.18 992516 BBG000BB6G37 3096
FRANCO-NEVADA CORP FNV 0.17 937393 BBG000RD3CL8 3669
HONEYWELL INTERNATIONAL INC HON 0.17 930600 BBG000H556T9 4078
SHOPIFY INC - CLASS A SHOP 0.17 896722 BBG008HBD923 7566
QUALCOMM INC QCOM 0.16 880523 BBG000CGC1X8 6918
BOOKING HOLDINGS INC BKNG 0.16 836912 BBG000BLBVN4 200
REALTY INCOME CORP O 0.15 799118 BBG000DHPN63 12914
VALE SA-SP ADR VALE 0.15 807524 BBG000BN5LG7 50313
PALO ALTO NETWORKS INC PANW 0.15 784230 BBG0014GJCT9 4881
INTUIT INC INTU 0.14 738459 BBG000BH5DV1 1734
APPLOVIN CORP APP 0.14 746204 BBG006HFPX77 1924
ASML HOLDING NV-NY REG SHS ASML 0.14 769624 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 776896 N/A 34776
WELLTOWER INC WELL 0.13 695612 BBG000BKY1G5 3498
CONSTELLATION ENERGY CORPORATION CEG 0.13 712064 BBG014KFRNP7 2548
VERTEX PHARMACEUTICALS INC VRTX 0.13 718747 BBG000C1S2X2 1607
COMCAST CORP-CLASS A CMCSA 0.12 644477 BBG000BFT2L4 22976
ADOBE SYSTEMS INC ADBE 0.12 622252 BBG000BB5006 2578
STARBUCKS CORP SBUX 0.12 645218 BBG000CTQBF3 7135
PROLOGIS INC PLD 0.12 643184 BBG000B9Z0J8 4824
WESTERN DIGITAL CORP WDC 0.12 671083 BBG000BWNFZ9 2254
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 591945 BBG0113JGQF0 1399
Crowdstrike Holdings Inc. Class A CRWD 0.11 606877 BBG00BLYKS03 1543
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 582103 BBG00ZXBJ153 5455
MEDTRONIC PLC MDT 0.10 530732 BBG000BNWG87 6167
Marriott International, Inc Class A MAR 0.10 556545 BBG000BGD7W6 1669
CLOROX COMPANY CLX 0.10 541527 BBG000BFS7D3 5195
FRANKLIN RESOURCES INC BEN 0.10 534597 BBG000BD0TF8 22662
EVERSOURCE ENERGY ES 0.10 540623 BBG000BQ87N0 7762
STANLEY BLACK & DECKER INC SWK 0.10 538472 BBG000BTQR96 7566
ILLINOIS TOOL WORKS ITW 0.10 537234 BBG000BMBL90 2062
T ROWE PRICE GROUP INC TROW 0.10 528705 BBG000BVMPN3 5883
MERCADOLIBRE INC MELI 0.10 527724 BBG000GQPB11 307
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 557663 N/A 13701.8
Cash & Other Cash&Other 0.10 554760 N/A 554760
KENVUE INC KVUE 0.10 541039 BBG01C79X561 31130
Kimberly-Clark Corp KMB 0.10 543855 BBG000BMW2Z0 5574
HORMEL FOODS CORP HRL 0.10 518696 BBG000BLF8D2 23545
EQUINIX INC EQIX 0.09 487034 BBG000MBDGM6 489
PPG INDUSTRIES INC PPG 0.09 471662 BBG000BRJ809 4430
REGENERON PHARMACEUTICALS REGN 0.09 497440 BBG000C734W3 640
MONSTER BEVERAGE CORP MNST 0.09 467256 BBG008NVB1C0 6421
CSX CORP CSX 0.09 491147 BBG000BGJRC8 11852
SYNOPSYS INC SNPS 0.09 470930 BBG000BSFRF3 1187
OREILLY AUTOMOTIVE INC ORLY 0.09 493288 BBG000BGYWY6 5356
AMERICAN ELECTRIC POWER AEP 0.09 463742 BBG000BB9KF2 3522
AO Smith Corp AOS 0.09 510162 BBG000BC1L02 7839
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 480986 BBG000D4LWF6 8428
GENUINE PARTS CO GPC 0.09 471943 BBG000BKL348 4487
CADENCE DESIGN SYS INC CDNS 0.09 498178 BBG000C13CD9 1778
J M Smucker Co COM STK NPV SJM 0.08 410607 BBG000BT1715 4300
ROSS STORES INC ROST 0.08 455736 BBG000BSBZH7 2072
ABBVIE INC ABBV 0.08 440064 BBG0025Y4RY4 2047
CINTAS CORP CTAS 0.08 434917 BBG000H3YXF8 2528
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 434804 BBG00LBLDDR2 4272
Warner Bros Discovery Inc WBD 0.08 439758 BBG011386VF4 15997
Baker Hughes Company BKR 0.07 402045 BBG00GBVBK51 6663
DOORDASH INC CLASS A DASH 0.07 386484 BBG005D7QCJ3 2568
FORTINET INC FTNT 0.07 378484 BBG000BCMBG4 4664
DIGITAL REALTY TRUST INC DLR 0.07 371186 BBG000Q5ZRM7 2057
International Business Machines Corporation IBM 0.07 401667 BBG000BLNNH6 1652
DIAMONDBACK ENERGY INC FANG 0.07 362559 BBG002PHSYX9 1902
SIMON PROPERTY GROUP INC SPG 0.07 376368 BBG000BJ2D31 2001
PACCAR INC PCAR 0.07 390245 BBG000BQVTF5 3317
FASTENAL CO FAST 0.06 339466 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 326518 BBG000J6XT05 6680
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 347048 BBG000C30L48 310
AIRBNB INC ABNB 0.06 332379 BBG001Y2XS07 2655
NXP Semiconductors NV NXPI 0.06 313710 BBG000BND699 1604
AUTODESK INC ADSK 0.06 311372 BBG000BM7HL0 1309
FERROVIAL SE FER 0.06 301992 BBG01H7CZ9S9 4506
ELECTRONIC ARTS INC EA 0.06 325524 BBG000BP0KQ8 1599
XCEL ENERGY INC XEL 0.06 317246 BBG000BCTQ65 3980
PUBLIC STORAGE PSA 0.06 327897 BBG000BPPN67 1187
Old Dominion Freight Line Inc. ODFL 0.05 266905 BBG000CHSS88 1337
IDEXX LABS IDXX 0.05 292494 BBG000BLRT07 518
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 251735 N/A 2859
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 265943 BBG000BFGNJ5 809
MICROSTRATEGY INC-CL A MSTR 0.05 255260 BBG000GQJPZ0 2079
Datadog Inc. Class A DDOG 0.05 245410 BBG003NJHZT9 2068
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 274296 BBG00B6BFWH9 2966
Ventas Inc. VTR 0.05 266861 BBG000FRVHB9 3254
PAYPAL HOLDINGS INC PYPL 0.05 253231 BBG0077VNXV6 5674
AXON ENTERPRISE INC AXON 0.04 221951 BBG000BHJWG1 524
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 189875 BBG000BBDV81 3100
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 223768 BBG000BS1YV5 1129
KEURIG DR PEPPER INC KDP 0.04 231544 BBG000TJM7F0 9013
VICI PROPERTIES INC REIT VICI 0.04 213639 BBG00HVVB499 7780
EXTRA SPACE STORAGE INC EXR 0.04 216886 BBG000PV27K3 1637
COPART INC CPRT 0.04 200431 BBG000BM9RH1 6070
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 204971 BBG01BFR8YV1 2849
AVALONBAY COMMUNITIES INC AVB 0.04 217338 BBG000BLPBL5 1318
INSMED INC INSM 0.04 202943 BBG000BWM5P3 1231
PAYCHEX INC PAYX 0.04 208548 BBG000BQSQ38 2294
ROPER TECHNOLOGIES INC ROP 0.04 237009 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 218238 BBG000BHCP19 3338
CINCINNATI FINANCIAL CORP CINF 0.04 220724 BBG000BFPK65 1400
KRAFT HEINZ CO/THE KHC 0.03 167159 BBG005CPNTQ2 7506
IRON MOUNTAIN INC IRM 0.03 158492 BBG000KCZPC3 1570
EQUITY RESIDENTIAL EQR 0.03 160785 BBG000BG8M31 2700
VERISK ANALYTICS INC VRSK 0.03 162214 BBG000BCZL41 884
CHARTER COMMUNICATIONS INC-A CHTR 0.03 177341 BBG000VPGNR2 820
WORKDAY INC-CLASS A WDAY 0.03 165700 BBG000VC0T95 1284
DEXCOM INC DXCM 0.03 153867 BBG000QTF8K1 2467
CONSOLIDATED EDISON INC ED 0.03 145235 BBG000BHLYS1 1275
AIR PRODUCTS & CHEMICALS INC APD 0.02 106800 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 108903 BBG000D7JKW9 2748
ESSEX PROPERTY TRUST INC ESS 0.02 106712 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 106791 BBG000BGBTC2 2409
Zscaler Inc. ZS 0.02 130247 BBG003338H34 953
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 106885 BBG000B9ZXB4 1044
MID-AMERICA APARTMENT COMM MAA 0.02 106496 BBG000BLMY92 869
KIMCO REALTY CORP KIM 0.02 106188 BBG000CN3S73 4730
INVITATION HOMES INC REIT USD.01 INVH 0.02 106333 BBG00FQH6BS9 4279
MCDONALDS CORP MCD 0.02 105400 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 108665 BBG000BCQM58 1566
Sun Communities Inc SUI 0.02 107763 BBG000BLJWF3 846
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 67774.5 BBG01BGWHFR5 977
ASTRAZENECA PLC AZNCF 0.00 602.19 BBG000D3MHB4 3

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.