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 08/10/2026
TICKER RAA
NET ASSETS $609M
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 $30.10
30 DAY MEDIAN BID-ASK SPREAD 0.000679

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 -0.15% -2.77% 0.18% 7.07% 7.63% 7.79% 14.22% 15.31%
RAA - Market Price -0.16% -2.70% 0.16% 7.15% 7.66% 7.83% 14.27% 15.38%
S&P 500 Index Total Return -0.06% -0.95% 4.19% 15.20% 10.14% 10.21% 18.87% 20.23%
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 08/10/2026

NET ASSET VALUE

$30.10

CLOSING PRICE

$30.09

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 15
Discount 13 16 8 14 7

Asset Allocation

As of 8/10/2026

Equities

40.37%
Nasdaq
16.23%
US Large Cap
10.15%
Dividend Payers
4.94%
US Small Cap
3.04%
Emerging Ex. China
2.98%
Japan
2.03%
Europe
1.00%

Fixed Income

24.80%
High Yield
5.91%
Long Term Treasuries
5.89%
Corporate Bonds
3.93%
Emerging Mkt Bonds
3.93%
TIPS
2.93%
T-Bills
2.21%

Alternatives

34.83%
Managed Futures
10.90%
Commodities
8.95%
Energy
4.95%
Real Estate
3.72%
Miners
3.26%
Bitcoin
1.99%
Gold
1.06%

Holdings

As of 08/10/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.15 61862200 BBG00RYR67P4 1252020
iM DBi Managed Futures Strategy ETF DBMF 9.48 57782900 N/A 1844920
INVESCO OPTIMUM YIELD DIVERS PDBC 8.95 54546200 N/A 3059240
SCHWAB HIGH YIELD BOND ETF SCYB 5.91 36011500 BBG01F80WX71 1385590
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.89 35892200 BBG00PZFJPC3 1201610
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.93 23957400 BBG000NXKWH0 252609
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.93 23929400 BBG000PWYVH7 295170
VANGUARD SMALL-CAP ETF VB 3.04 18497900 BBG000HT3Z79 60613
ISHARES MSCI EMR MRK EX CHNA EMXC 2.98 18167600 BBG00H5VLMJ6 193767
SCHWAB U.S. TIPS ETF SCHP 2.93 17874800 BBG000BGN6P5 689881
Franklin FTSE Japan ETF FLJP 2.03 12344200 BBG00J3MDY16 301740
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.99 12112900 N/A 428322
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.95 11911300 BBG01922X0X9 238608
Simplify DBi CTA Managed Futures Index ETF SDMF 1.42 8630920 BBG020BR8WR7 330307
NVIDIA CORP NVDA 1.34 8177700 BBG000BBJQV0 37590
APPLE INC AAPL 1.31 7978080 BBG000B9XRY4 25881
SPROTT PHYSICAL GOLD TRUS PHYS 1.06 6454900 BBG000Q83F79 194074
Franklin FTSE Europe ETF FLEE 1.00 6069770 BBG00J3PR1S7 151215
MICROSOFT CORP MSFT 0.95 5808050 BBG000BPH459 11477
MICRON TECHNOLOGY INC MU 0.74 4506470 BBG000C5Z1S3 5234
BHP GROUP LTD BHP 0.70 4257400 BBG000BD5NZ4 46986
AMAZON.COM INC AMZN 0.68 4149940 BBG000BVPV84 14923
CHEVRON CORP CVX 0.62 3796260 BBG000K4ND22 19477
ADVANCED MICRO DEVICES INC AMD 0.56 3402430 BBG000BBQCY0 7246
WELLTOWER INC WELL 0.54 3311950 BBG000BKY1G5 14091
SCHLUMBERGER LTD SLB 0.52 3197850 BBG000BT41Q8 60110
Broadcom Inc. AVGO 0.52 3164620 BBG00KHY5S69 7492
OCCIDENTAL PETROLEUM CORP OXY 0.51 3086690 BBG000BQQ2S6 52629
ALPHABET INC-CL A GOOGL 0.51 3125800 BBG009S39JX6 8743
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.51 3081390 BBG023CY9MM1 19284
EQT CORP EQT 0.50 3037460 BBG000BHZ5J9 56166
MARATHON PETROLEUM CORP MPC 0.50 3044640 BBG001DCCGR8 9505
Cheniere Energy Inc LNG 0.49 3008030 BBG000C3HSR0 11322
WILLIAMS COMPANIES INC. WMB 0.49 2995570 BBG000BWVCP8 41692
CANADIAN NATURAL RESOURCES CNQ 0.48 2951990 BBG000HW5GX3 62476
ALPHABET INC-CL C GOOG 0.48 2930700 BBG009S3NB30 8236
REALTY INCOME CORP O 0.46 2833450 BBG000DHPN63 45782
Suncor Energy Inc. SU 0.46 2786840 BBG000BC1LY5 44426
META PLATFORMS INC META 0.45 2772330 BBG000MM2P62 4660
Tesla Inc. TSLA 0.43 2598400 BBG000N9MNX3 7853
PROLOGIS INC PLD 0.43 2624370 BBG000B9Z0J8 18913
WAL-MART STORES INC WMT 0.40 2411600 BBG000BWXBC2 21406
NEWMONT GOLDCORP CORPORATION COM NEM 0.39 2383310 BBG000BPWXK1 20325
EQUINIX INC EQIX 0.36 2178580 BBG000MBDGM6 2088
INTEL CORP INTC 0.35 2124770 BBG000C0G1D1 21788
CISCO SYSTEMS INC CSCO 0.34 2076210 BBG000C3J3C9 16939
AUTOMATIC DATA PROCESSING ADP 0.33 2026840 BBG000JG0547 7406
RIO TINTO PLC-SPON ADR RIO 0.32 1934250 BBG000FD28T3 18980
FREEPORT-MCMORAN INC FCX 0.32 1939020 BBG000BJDB15 27500
PEPSICO INC PEP 0.31 1880700 BBG000DH7JK6 13655
COSTCO WHOLESALE CORP COST 0.30 1847380 BBG000F6H8W8 1939
APPLIED MATERIALS INC AMAT 0.29 1737090 BBG000BBPFB9 3327
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1787520 BBG000N7QR55 10201
CLOROX COMPANY CLX 0.28 1677430 BBG000BFS7D3 15575
AGNICO EAGLE MINES LTD AEM 0.28 1697050 BBG000DLVDK3 9403
LAM RESH CORP LRCX 0.27 1620550 BBG000BNFLM9 5289
SIMON PROPERTY GROUP INC SPG 0.27 1647950 BBG000BJ2D31 7472
PUBLIC STORAGE PSA 0.26 1555270 BBG000BPPN67 4775
MEDTRONIC PLC MDT 0.26 1557970 BBG000BNWG87 17425
DIGITAL REALTY TRUST INC DLR 0.26 1614380 BBG000Q5ZRM7 8439
STANLEY BLACK & DECKER INC SWK 0.26 1599540 BBG000BTQR96 15584
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1567070 N/A 33264
AO Smith Corp AOS 0.25 1548330 BBG000BC1L02 24809
T ROWE PRICE GROUP INC TROW 0.25 1507570 BBG000BVMPN3 13251
KENVUE INC KVUE 0.24 1469800 BBG01C79X561 77236
Kimberly-Clark Corp KMB 0.24 1464100 BBG000BMW2Z0 13554
HORMEL FOODS CORP HRL 0.24 1463570 BBG000BLF8D2 59254
FRANKLIN RESOURCES INC BEN 0.24 1462480 BBG000BD0TF8 43630
ABBVIE INC ABBV 0.24 1466250 BBG0025Y4RY4 5913
NETFLIX INC NFLX 0.24 1458890 BBG000CL9VN6 19123
GENUINE PARTS CO GPC 0.23 1413480 BBG000BKL348 10506
PALO ALTO NETWORKS INC PANW 0.23 1377670 BBG0014GJCT9 3578
International Business Machines Corporation IBM 0.23 1402030 BBG000BLNNH6 5933
PPG INDUSTRIES INC PPG 0.22 1360820 BBG000BRJ809 11784
EVERSOURCE ENERGY ES 0.22 1348100 BBG000BQ87N0 18942
Barrick Mining Corp ABX 0.22 1320220 N/A 32295
Ventas Inc. VTR 0.22 1348170 BBG000FRVHB9 14662
GLENCORE PLC -UNSP ADR GLNCY 0.20 1246760 BBG001VKX1Z1 81381
ILLINOIS TOOL WORKS ITW 0.20 1222260 BBG000BMBL90 4150
SPACE EXPLORATION TECH CORP A SPCX 0.20 1211340 BBG000NQF3Z5 8731
NUCOR CORP NUE 0.19 1140180 BBG000BQ8KV2 4152
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1157830 BBG000PVRDL2 8680
TEXAS INSTRUMENTS INC TXN 0.19 1144200 BBG000BVV7G1 4080
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1103920 N/A 40157
ERIE INDEMNITY COMPANY-CL A ERIE 0.17 1065170 BBG000BBTJZ1 4221
LINDE PLC LIN 0.17 1043520 BBG01FND0CC1 2119
KLA CORPORATION KLAC 0.17 1038290 BBG000BMTFR4 5387
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.17 1048460 BBG00CMNZNK7 1048460
IRON MOUNTAIN INC IRM 0.16 993996 BBG000KCZPC3 8177
AMGEN INC AMGN 0.16 967070 BBG000BBS2Y0 2318
Crowdstrike Holdings Inc. Class A CRWD 0.16 984174 BBG00BLYKS03 4371
EXTRA SPACE STORAGE INC EXR 0.15 941264 BBG000PV27K3 6418
SHOPIFY INC - CLASS A SHOP 0.14 857680 BBG004DW5NB8 5527
VICI PROPERTIES INC REIT VICI 0.14 830955 BBG00HVVB499 31874
T-MOBILE US INC TMUS 0.14 871220 BBG000NDV1D4 4889
FRANCO-NEVADA CORP FNV 0.14 871817 BBG000TRN6Z1 3619
QUALCOMM INC QCOM 0.13 779227 BBG000CGC1X8 4805
VALE SA-SP ADR VALE 0.13 763544 BBG000BN5LG7 51279
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 767709 BBG00ZXBJ153 3681
SANDISK CORP/DE SNDKV SNDK 0.13 810838 BBG01R388JG1 655
AVALONBAY COMMUNITIES INC AVB 0.13 763855 BBG000BLPBL5 4155
ANALOG DEVICES INC ADI 0.13 804707 BBG000BB6G37 2096
EQUITY RESIDENTIAL EQR 0.12 705105 BBG000BG8M31 10711
GILEAD SCIENCES INC GILD 0.12 729036 BBG000CKGBP2 5479
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 751329 BBG0113JGQF0 938
BOOKING HOLDINGS INC BKNG 0.12 717831 BBG000BLBVN4 3372
WESTERN DIGITAL CORP WDC 0.11 654003 BBG000BWNFZ9 1492
ASML HOLDING NV-NY REG SHS ASML 0.11 682991 BBG000K6MRN4 394
FASTENAL CO FAST 0.10 589869 BBG000BJ8YN7 11311
INTUITIVE SURGICAL INC ISRG 0.10 595184 BBG000BJPDZ1 1513
VERTEX PHARMACEUTICALS INC VRTX 0.10 589399 BBG000C1S2X2 1125
ESSEX PROPERTY TRUST INC ESS 0.09 532435 BBG000CGJMB9 1880
STARBUCKS CORP SBUX 0.09 532773 BBG000CTQBF3 5091
INVITATION HOMES INC REIT USD.01 INVH 0.09 538498 BBG00FQH6BS9 18016
ARM HOLDINGS PLC ARM 0.08 516950 BBG01J1GXZF0 1930
FORTINET INC FTNT 0.08 486390 BBG000BCMBG4 2962
APPLOVIN CORP APP 0.08 463752 BBG006HFPX77 1368
W. P. CAREY REIT INC WPC 0.08 458089 BBG000BCQM58 6483
MID-AMERICA APARTMENT COMM MAA 0.08 472851 BBG000BLMY92 3573
Sun Communities Inc SUI 0.07 456969 BBG000BLJWF3 3854
CADENCE DESIGN SYS INC CDNS 0.07 408581 BBG000C13CD9 1231
HOST HOTELS & RESORTS INC HST 0.07 429324 BBG000BL8804 18938
CONSTELLATION ENERGY CORPORATION CEG 0.07 426468 BBG014KFRNP7 1577
ADOBE SYSTEMS INC ADBE 0.07 456935 BBG000BB5006 1674
KIMCO REALTY CORP KIM 0.07 451219 BBG000CN3S73 18715
MERCADOLIBRE INC MELI 0.07 405003 BBG000GQPB11 222
CSX CORP CSX 0.07 413690 BBG000BGJRC8 8254
Datadog Inc. Class A DDOG 0.07 400558 BBG003NJHZT9 1536
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 353859 BBG000D4LWF6 5751
COMCAST CORP-CLASS A CMCSA 0.06 375354 BBG000BFT2L4 14895
Marriott International, Inc Class A MAR 0.06 387814 BBG000BGD7W6 1113
DOORDASH INC CLASS A DASH 0.06 381316 BBG005D7QCJ3 1817
ROSS STORES INC ROST 0.06 362361 BBG000BSBZH7 1422
AIRBNB INC ABNB 0.06 362566 BBG001Y2XS07 1963
REGENERON PHARMACEUTICALS REGN 0.06 379784 BBG000C734W3 470
MONSTER BEVERAGE CORP MNST 0.06 394978 BBG008NVB1C0 8640
INTUIT INC INTU 0.06 379912 BBG000BH5DV1 1136
CINTAS CORP CTAS 0.06 353324 BBG000H3YXF8 1743
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 353949 BBG022XF4SZ9 1457
PACCAR INC PCAR 0.05 293453 BBG000BQVTF5 2236
Warner Bros Discovery Inc WBD 0.05 305431 BBG011386VF4 11367
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 287269 BBG000C30L48 208
NXP Semiconductors NV NXPI 0.05 293655 BBG000BND699 1258
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 306091 BBG000B9ZXB4 2818
SYNOPSYS INC SNPS 0.05 318640 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 301092 BBG000BNSZP1 1100
CONSOLIDATED EDISON INC ED 0.05 289455 BBG000BHLYS1 2723
OREILLY AUTOMOTIVE INC ORLY 0.05 307310 BBG000BGYWY6 3332
AMERICAN ELECTRIC POWER AEP 0.05 284252 BBG000BB9KF2 2314
XCEL ENERGY INC XEL 0.04 233685 BBG000BCTQ65 3040
PAYPAL HOLDINGS INC PYPL 0.04 245908 BBG0077VNXV6 4163
ASTERA LABS INC ALAB 0.04 237605 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 252244 BBG00GBVBK51 3937
TERADYNE INC TER 0.04 228188 BBG000BV4DR6 625
AUTODESK INC ADSK 0.04 260679 BBG000BM7HL0 1018
DIAMONDBACK ENERGY INC FANG 0.04 234387 BBG002PHSYX9 1178
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 251286 BBG00LBLDDR2 2702
ROCKET LAB CORP RKLB 0.04 219310 BBG01V7JN3F3 2740
LUMENTUM HOLDINGS INC LITE 0.04 266018 BBG0073F9RT7 327
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 230615 BBG00B6BFWH9 2175
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 233382 BBG020QYV152 1431
PAYCHEX INC PAYX 0.03 185890 BBG000BQSQ38 1534
MICROCHIP TECHNOLOGY INC MCHP 0.03 192732 BBG000BHCP19 2368
ROPER TECHNOLOGIES INC ROP 0.03 184578 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 203349 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 178755 BBG000CHSS88 841
IDEXX LABS IDXX 0.03 191835 BBG000BLRT07 322
EXELON CORP EXC 0.03 172972 BBG000J6XT05 3887
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 187642 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 167508 BBG000TJM7F0 5717
FERROVIAL SA FER 0.03 178485 BBG01H0DF657 2727.88
Nebius Group NV NBIS 0.03 172511 BBG001NVJ6W4 937
THOMSON REUTERS CORP TRI 0.03 191188 N/A 1832
KRAFT HEINZ CO/THE KHC 0.02 114404 BBG005CPNTQ2 4589
WORKDAY INC-CLASS A WDAY 0.02 137590 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 127150 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 127791 BBG01BFR8YV1 1752
COREWEAVE INC CRWV 0.02 145425 BBG011ZTRJ21 1649
COPART INC CPRT 0.02 121230 BBG000BM9RH1 4097
DEXCOM INC DXCM 0.02 125340 BBG000QTF8K1 1430
MICROSTRATEGY INC-CL A MSTR 0.02 123706 BBG000GQJPZ0 1271
Cash & Other Cash&Other -0.16 -974589 N/A -974589

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.