RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 09/29/2026
TICKER RAA
NET ASSETS $627M
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 $29.93
30 DAY MEDIAN BID-ASK SPREAD 0.000664

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 18.28% NA NA 16.03%
RAA - Market Price 18.32% NA NA 16.08%
S&P 500 Index Total Return NA NA NA 19.83%
1 MO 3 MO YTD Since Inception
RAA - NAV 3.57% -2.77% 0.55% 7.07% 11.47% 7.79% 16.03% 15.31%
RAA - Market Price 3.57% -2.70% 0.61% 7.15% 11.50% 7.83% 16.08% 15.38%
S&P 500 Index Total Return 2.72% -0.95% 1.68% 15.20% 13.14% 10.21% 19.83% 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 09/29/2026

NET ASSET VALUE

$29.93

CLOSING PRICE

$29.93

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 31
Discount 13 16 8 14 21

Asset Allocation

As of 9/29/2026

Equities

46.56%
Nasdaq
17.66%
US Large Cap
15.23%
Dividend Payers
5.72%
US Small Cap
3.89%
Emerging Ex. China
2.07%
Japan
1.02%
Europe
0.97%

Fixed Income

24.68%
Corporate Bonds
6.87%
High Yield
5.90%
TIPS
3.94%
Emerging Mkt Bonds
3.91%
Long Term Treasuries
2.90%
T-Bills
1.16%

Alternatives

28.76%
Commodities
7.26%
Managed Futures
5.24%
Energy
4.86%
Gold
3.78%
Miners
3.69%
Real Estate
2.85%
Bitcoin
1.08%

Holdings

As of 09/29/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.23 95480600 BBG00RYR67P4 1949780
INVESCO OPTIMUM YIELD DIVERS PDBC 7.26 45529400 N/A 2384980
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.87 43062700 BBG000PWYVH7 549479
SCHWAB HIGH YIELD BOND ETF SCYB 5.90 36989900 BBG01F80WX71 1464370
SCHWAB U.S. TIPS ETF SCHP 3.94 24722400 BBG000BGN6P5 982996
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.91 24518300 BBG000NXKWH0 268605
Vanguard Morningstar Small-Cap ETF VB 3.89 24368300 BBG000HT3Z79 85180
SPROTT PHYSICAL GOLD TRUS PHYS 3.78 23671800 BBG000Q83F79 752680
iM DBi Managed Futures Strategy ETF DBMF 3.77 23639700 N/A 728946
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.90 18182900 BBG00PZFJPC3 635987
ISHARES MSCI EMR MRK EX CHNA EMXC 2.07 13004000 BBG00H5VLMJ6 129586
NVIDIA CORP NVDA 1.49 9364230 BBG000BBJQV0 41214
Simplify DBi CTA Managed Futures Index ETF SDMF 1.47 9192750 BBG020BR8WR7 340818
APPLE INC AAPL 1.34 8418150 BBG000B9XRY4 25556
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.08 6753980 N/A 182688
MICROSOFT CORP MSFT 1.05 6562530 BBG000BPH459 12894
Franklin FTSE Japan ETF FLJP 1.02 6390830 BBG00J3MDY16 155874
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 6358340 BBG01922X0X9 127575
Franklin FTSE Europe ETF FLEE 0.97 6109990 BBG00J3PR1S7 159642
MICRON TECHNOLOGY INC MU 0.89 5569300 BBG000C5Z1S3 5229
BHP GROUP LTD BHP 0.79 4981990 BBG000BD5NZ4 58736
AMAZON.COM INC AMZN 0.74 4667490 BBG000BVPV84 18922
ADVANCED MICRO DEVICES INC AMD 0.74 4665530 BBG000BBQCY0 7679
CHEVRON CORP CVX 0.68 4242520 BBG000K4ND22 20758
META PLATFORMS INC META 0.60 3748620 BBG000MM2P62 5074
ALPHABET INC-CL A GOOGL 0.56 3508410 BBG009S39JX6 10291
MARATHON PETROLEUM CORP MPC 0.53 3335780 BBG001DCCGR8 8509
Suncor Energy Inc. SU 0.52 3237310 BBG000BC1LY5 47953
ALPHABET INC-CL C GOOG 0.52 3250750 BBG009S3NB30 9637
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.51 3191180 BBG023CY9MM1 19778
CANADIAN NATURAL RESOURCES CNQ 0.48 3022090 BBG000HW5GX3 64068
OCCIDENTAL PETROLEUM CORP OXY 0.47 2919790 BBG000BQQ2S6 53145
EQT CORP EQT 0.46 2867350 BBG000BHZ5J9 58661
Tesla Inc. TSLA 0.46 2881290 BBG000N9MNX3 8166
Cheniere Energy Inc LNG 0.46 2901970 BBG000C3HSR0 10857
WILLIAMS COMPANIES INC. WMB 0.46 2915060 BBG000BWVCP8 42475
Broadcom Inc. AVGO 0.46 2875600 BBG00KHY5S69 8098
INTEL CORP INTC 0.44 2763080 BBG000C0G1D1 23834
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2726910 BBG000BPWXK1 23289
SCHLUMBERGER LTD SLB 0.42 2618320 BBG000BT41Q8 52503
WELLTOWER INC WELL 0.41 2584960 BBG000BKY1G5 11099
REALTY INCOME CORP O 0.39 2442800 BBG000DHPN63 44521
WAL-MART STORES INC WMT 0.39 2446790 BBG000BWXBC2 22910
RIO TINTO PLC-SPON ADR RIO 0.37 2332340 BBG000FD28T3 24770
FREEPORT-MCMORAN INC FCX 0.36 2262590 BBG000BJDB15 31962
AUTOMATIC DATA PROCESSING ADP 0.36 2243100 BBG000JG0547 8568
PROLOGIS INC PLD 0.33 2058640 BBG000B9Z0J8 15524
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 2038160 BBG000N7QR55 10901
CISCO SYSTEMS INC CSCO 0.32 1996570 BBG000C3J3C9 18670
AGNICO EAGLE MINES LTD AEM 0.32 1983180 BBG000DLVDK3 10672
APPLIED MATERIALS INC AMAT 0.31 1935400 BBG000BBPFB9 3780
COSTCO WHOLESALE CORP COST 0.31 1948110 BBG000F6H8W8 2107
LAM RESH CORP LRCX 0.31 1915630 BBG000BNFLM9 5915
AO Smith Corp AOS 0.30 1856230 BBG000BC1L02 31993
KENVUE INC KVUE 0.29 1807260 BBG01C79X561 100908
MEDTRONIC PLC MDT 0.29 1829240 BBG000BNWG87 21004
PEPSICO INC PEP 0.29 1844260 BBG000DH7JK6 14331
FRANKLIN RESOURCES INC BEN 0.29 1806160 BBG000BD0TF8 55849
ILLINOIS TOOL WORKS ITW 0.29 1810220 BBG000BMBL90 6822
T ROWE PRICE GROUP INC TROW 0.29 1799870 BBG000BVMPN3 17222
GENUINE PARTS CO GPC 0.28 1738070 BBG000BKL348 13691
Kimberly-Clark Corp KMB 0.28 1747370 BBG000BMW2Z0 17652
HORMEL FOODS CORP HRL 0.28 1733940 BBG000BLF8D2 87352
EQUINIX INC EQIX 0.28 1736110 BBG000MBDGM6 1710
STANLEY BLACK & DECKER INC SWK 0.28 1761860 BBG000BTQR96 19843
ABBVIE INC ABBV 0.28 1783530 BBG0025Y4RY4 6774
AMCOR PLC COMMON STOCK USD.01 AMCR 0.28 1757630 N/A 41395
GLENCORE PLC -UNSP ADR GLNCY 0.26 1633240 BBG001VKX1Z1 111560
PPG INDUSTRIES INC PPG 0.25 1537080 BBG000BRJ809 14498
CLOROX COMPANY CLX 0.25 1582800 BBG000BFS7D3 19397
EVERSOURCE ENERGY ES 0.24 1492060 BBG000BQ87N0 23350
Barrick Mining Corp. B 0.24 1520770 N/A 36876
NETFLIX INC NFLX 0.23 1415420 BBG000CL9VN6 20134
PALO ALTO NETWORKS INC PANW 0.23 1464310 BBG0014GJCT9 3770
International Business Machines Corporation IBM 0.23 1439390 BBG000BLNNH6 6543
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1314910 BBG000PVRDL2 9712
SPACE EXPLORATION TECH CORP A SPCX 0.21 1340180 BBG000NQF3Z5 8980
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1311770 N/A 49557
KLA CORPORATION KLAC 0.20 1227720 BBG000BMTFR4 6247
SIMON PROPERTY GROUP INC SPG 0.20 1227110 BBG000BJ2D31 6007
NUCOR CORP NUE 0.19 1199380 BBG000BQ8KV2 5089
TEXAS INSTRUMENTS INC TXN 0.19 1211550 BBG000BVV7G1 4301
DIGITAL REALTY TRUST INC DLR 0.19 1174480 BBG000Q5ZRM7 6652
Crowdstrike Holdings Inc. Class A CRWD 0.19 1204400 BBG00BLYKS03 4584
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1101250 BBG000BBTJZ1 4951
SANDISK CORP/DE SNDKV SNDK 0.18 1117420 BBG01R388JG1 646
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1126010 BBG00ZXBJ153 4277
Vivmark Residential VMRK 0.18 1146570 BBG000BG8M31 18689
PUBLIC STORAGE PSA 0.17 1076640 BBG000BPPN67 3770
FRANCO-NEVADA CORP FNV 0.17 1077550 BBG000TRN6Z1 4346
AMGEN INC AMGN 0.17 1086640 BBG000BBS2Y0 2565
LINDE PLC LIN 0.17 1037150 BBG01FND0CC1 2191
Ventas Inc. VTR 0.16 1027950 BBG000FRVHB9 11899
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 970997 BBG0113JGQF0 1063
ANALOG DEVICES INC ADI 0.15 913915 BBG000BB6G37 2295
QUALCOMM INC QCOM 0.14 889387 BBG000CGC1X8 4831
GILEAD SCIENCES INC GILD 0.14 889980 BBG000CKGBP2 5883
VALE SA-SP ADR VALE 0.14 897018 BBG000BN5LG7 67445
SHOPIFY INC - CLASS A SHOP 0.14 885557 BBG004DW5NB8 5973
IRON MOUNTAIN INC IRM 0.13 822870 BBG000KCZPC3 7380
T-MOBILE US INC TMUS 0.13 845540 BBG000NDV1D4 5188
Cash & Other Cash&Other 0.12 780338 N/A 780338
WESTERN DIGITAL CORP WDC 0.12 760939 BBG000BWNFZ9 1678
ASML HOLDING NV-NY REG SHS ASML 0.12 761272 BBG000K6MRN4 415
INTUITIVE SURGICAL INC ISRG 0.11 693699 BBG000BJPDZ1 1683
EXTRA SPACE STORAGE INC EXR 0.11 693748 BBG000PV27K3 5197
VERTEX PHARMACEUTICALS INC VRTX 0.10 631549 BBG000C1S2X2 1199
BOOKING HOLDINGS INC BKNG 0.10 608613 BBG000BLBVN4 3749
VICI PROPERTIES INC REIT VICI 0.10 615890 BBG00HVVB499 26547
FORTINET INC FTNT 0.10 600024 BBG000BCMBG4 3410
ARM HOLDINGS PLC ARM 0.09 589689 BBG01J1GXZF0 2008
ROPER TECHNOLOGIES INC ROP 0.08 474903 BBG000F1ZSN5 1359
STARBUCKS CORP SBUX 0.08 523624 BBG000CTQBF3 5487
ESSEX PROPERTY TRUST INC ESS 0.07 420034 BBG000CGJMB9 1548
CONSTELLATION ENERGY CORPORATION CEG 0.07 453755 BBG014KFRNP7 1715
Marriott International, Inc Class A MAR 0.07 462150 BBG000BGD7W6 1278
ADOBE SYSTEMS INC ADBE 0.07 441158 BBG000BB5006 1892
MERCADOLIBRE INC MELI 0.07 408801 BBG000GQPB11 237
APPLOVIN CORP APP 0.07 449932 BBG006HFPX77 1472
CSX CORP CSX 0.07 421197 BBG000BGJRC8 8975
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.07 410373 BBG00CMNZNK7 410373
Datadog Inc. Class A DDOG 0.07 422176 BBG003NJHZT9 1572
CADENCE DESIGN SYS INC CDNS 0.06 402619 BBG000C13CD9 1242
Warner Bros Discovery Inc WBD 0.06 371218 BBG011386VF4 12033
HOST HOTELS & RESORTS INC HST 0.06 375367 BBG000BL8804 16878
COMCAST CORP-CLASS A CMCSA 0.06 370872 BBG000BFT2L4 17170
ROSS STORES INC ROST 0.06 356522 BBG000BSBZH7 1521
KIMCO REALTY CORP KIM 0.06 361590 BBG000CN3S73 16128
REGENERON PHARMACEUTICALS REGN 0.06 355742 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 365780 BBG005D7QCJ3 1955
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 348883 BBG000B9ZXB4 3456
MONSTER BEVERAGE CORP MNST 0.06 396530 BBG008NVB1C0 9500
INTUIT INC INTU 0.06 346563 BBG000BH5DV1 1293
INVITATION HOMES INC REIT USD.01 INVH 0.06 386753 BBG00FQH6BS9 14556
CINTAS CORP CTAS 0.06 380254 BBG000H3YXF8 1923
CONSOLIDATED EDISON INC ED 0.06 368268 BBG000BHLYS1 3564
SYNOPSYS INC SNPS 0.06 377732 BBG000BSFRF3 910
W. P. CAREY REIT INC WPC 0.06 352723 BBG000BCQM58 5424
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 360562 BBG000D4LWF6 6132
PACCAR INC PCAR 0.05 284196 BBG000BQVTF5 2542
Sun Communities Inc SUI 0.05 330759 BBG000BLJWF3 2986
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 293816 BBG000C30L48 217
TERADYNE INC TER 0.05 295817 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.05 343337 BBG000BKYDP9 17056
AIR PRODUCTS & CHEMICALS INC APD 0.05 343124 BBG000BC4JJ4 1229
MID-AMERICA APARTMENT COMM MAA 0.05 335867 BBG000BLMY92 2836
AIRBNB INC ABNB 0.05 321611 BBG001Y2XS07 2049
MCDONALDS CORP MCD 0.05 332252 BBG000BNSZP1 1420
OREILLY AUTOMOTIVE INC ORLY 0.05 336706 BBG000BGYWY6 3912
LUMENTUM HOLDINGS INC LITE 0.05 336828 BBG0073F9RT7 346
AMERICAN ELECTRIC POWER AEP 0.05 311612 BBG000BB9KF2 2612
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 319398 BBG022XF4SZ9 1520
PAYPAL HOLDINGS INC PYPL 0.04 228116 BBG0077VNXV6 4233
FASTENAL CO FAST 0.04 274830 BBG000BJ8YN7 5501
ASTERA LABS INC ALAB 0.04 269096 BBG00TDKHW99 752
Baker Hughes Company BKR 0.04 255554 BBG00GBVBK51 4570
NXP Semiconductors NV NXPI 0.04 281636 BBG000BND699 1191
Nebius Group NV NBIS 0.04 252783 BBG001NVJ6W4 1065
DIAMONDBACK ENERGY INC FANG 0.04 241894 BBG002PHSYX9 1315
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 249008 BBG00LBLDDR2 3213
MICROSTRATEGY INC-CL A MSTR 0.04 234016 BBG000GQJPZ0 1513
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 234714 BBG020QYV152 1510
PAYCHEX INC PAYX 0.03 169621 BBG000BQSQ38 1708
XCEL ENERGY INC XEL 0.03 212070 BBG000BCTQ65 3000
MICROCHIP TECHNOLOGY INC MCHP 0.03 204670 BBG000BHCP19 2598
AXON ENTERPRISE INC AXON 0.03 163636 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 174443 BBG000CHSS88 983
EXELON CORP EXC 0.03 198860 BBG000J6XT05 4892
IDEXX LABS IDXX 0.03 193105 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 191424 BBG000BS1YV5 944
KEURIG DR PEPPER INC KDP 0.03 203246 BBG000TJM7F0 6550
FERROVIAL SA FER 0.03 188096 BBG01H0DF657 3446.88
WORKDAY INC-CLASS A WDAY 0.03 185765 BBG000VC0T95 982
COREWEAVE INC CRWV 0.03 182687 BBG011ZTRJ21 2126
DEXCOM INC DXCM 0.03 159851 BBG000QTF8K1 1845
AUTODESK INC ADSK 0.03 204196 BBG000BM7HL0 1005
ROCKET LAB CORP RKLB 0.03 193557 BBG01V7JN3F3 2777
THOMSON REUTERS CORP TRI 0.03 175157 N/A 1820
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 218185 BBG00B6BFWH9 2133
KRAFT HEINZ CO/THE KHC 0.02 132211 BBG005CPNTQ2 5638
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 154983 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 144085 BBG01BFR8YV1 2168
COPART INC CPRT 0.02 118683 BBG000BM9RH1 4373

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.