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 10/26/2026
TICKER RAA
NET ASSETS $613M
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 $30.14
30 DAY MEDIAN BID-ASK SPREAD 0.000666

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
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 10/26/2026

NET ASSET VALUE

$30.14

CLOSING PRICE

$30.14

PREMIUM/DISCOUNT

0.01%
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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 4
Discount 16 8 14 21 10

Asset Allocation

As of 10/26/2026

Equities

41.03%
Nasdaq
17.16%
US Large Cap
14.95%
US Small Cap
3.01%
Dividend Payers
2.13%
Emerging Ex. China
1.83%
Europe
0.99%
Japan
0.96%

Fixed Income

29.41%
Long Term Treasuries
8.32%
Corporate Bonds
6.05%
High Yield
5.97%
Emerging Mkt Bonds
4.01%
TIPS
3.04%
T-Bills
2.02%

Alternatives

29.56%
Commodities
10.36%
Energy
5.63%
Managed Futures
4.99%
Miners
3.69%
Real Estate
2.03%
Gold
1.92%
Bitcoin
0.94%

Holdings

As of 10/26/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.95 91603000 BBG00RYR67P4 1874040
INVESCO OPTIMUM YIELD DIVERS PDBC 10.36 63460700 N/A 3149410
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.32 50987200 BBG00PZFJPC3 1715580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.05 37092000 BBG000PWYVH7 467625
SCHWAB HIGH YIELD BOND ETF SCYB 5.97 36598900 BBG01F80WX71 1453490
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.01 24565400 BBG000NXKWH0 268474
iM DBi Managed Futures Strategy ETF DBMF 3.51 21502300 N/A 657965
SCHWAB U.S. TIPS ETF SCHP 3.04 18626600 BBG000BGN6P5 726467
Vanguard Morningstar Small-Cap ETF VB 3.01 18414500 BBG000HT3Z79 63813
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 12162500 BBG01922X0X9 244114
SPROTT PHYSICAL GOLD TRUS PHYS 1.92 11789700 BBG000Q83F79 388713
ISHARES MSCI EMR MRK EX CHNA EMXC 1.83 11201100 BBG00H5VLMJ6 122779
Simplify DBi CTA Managed Futures Index ETF SDMF 1.48 9095930 BBG020BR8WR7 334053
NVIDIA CORP NVDA 1.40 8555540 BBG000BBJQV0 39609
APPLE INC AAPL 1.33 8158920 BBG000B9XRY4 23724
MICROSOFT CORP MSFT 1.06 6468430 BBG000BPH459 12145
Franklin FTSE Europe ETF FLEE 0.99 6068440 BBG00J3PR1S7 160627
Franklin FTSE Japan ETF FLJP 0.96 5869250 BBG00J3MDY16 146074
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.94 5770200 N/A 163508
BHP GROUP LTD BHP 0.79 4818780 BBG000BD5NZ4 60897
MICRON TECHNOLOGY INC MU 0.76 4668510 BBG000C5Z1S3 5166
AMAZON.COM INC AMZN 0.72 4400420 BBG000BVPV84 17666
ADVANCED MICRO DEVICES INC AMD 0.65 3953250 BBG000BBQCY0 7441
CHEVRON CORP CVX 0.63 3866450 BBG000K4ND22 16665
MARATHON PETROLEUM CORP MPC 0.59 3591920 BBG001DCCGR8 7632
OCCIDENTAL PETROLEUM CORP OXY 0.58 3535570 BBG000BQQ2S6 55183
Suncor Energy Inc. SU 0.58 3523750 BBG000BC1LY5 44335
CANADIAN NATURAL RESOURCES CNQ 0.57 3511330 BBG000HW5GX3 63715
EQT CORP EQT 0.56 3406020 BBG000BHZ5J9 62097
Tesla Inc. TSLA 0.56 3402390 BBG000N9MNX3 8688
Cheniere Energy Inc LNG 0.56 3418610 BBG000C3HSR0 11373
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.56 3436130 BBG023CY9MM1 18620
SCHLUMBERGER LTD SLB 0.54 3287780 BBG000BT41Q8 61940
WILLIAMS COMPANIES INC. WMB 0.53 3224800 BBG000BWVCP8 44945
META PLATFORMS INC META 0.51 3142710 BBG000MM2P62 4984
ALPHABET INC-CL A GOOGL 0.49 3006120 BBG009S39JX6 9489
SPACE EXPLORATION TECH CORP A SPCX 0.47 2874830 BBG000NQF3Z5 19570
ALPHABET INC-CL C GOOG 0.46 2807600 BBG009S3NB30 8936
NEWMONT GOLDCORP CORPORATION COM NEM 0.45 2777630 BBG000BPWXK1 25162
WAL-MART STORES INC WMT 0.45 2772680 BBG000BWXBC2 23050
Broadcom Inc. AVGO 0.44 2682080 BBG00KHY5S69 8148
COSTCO WHOLESALE CORP COST 0.35 2127920 BBG000F6H8W8 2117
FREEPORT-MCMORAN INC FCX 0.35 2170020 BBG000BJDB15 33303
INTEL CORP INTC 0.34 2102880 BBG000C0G1D1 23244
RIO TINTO PLC-SPON ADR RIO 0.34 2086300 BBG000FD28T3 24920
AGNICO EAGLE MINES LTD AEM 0.34 2086490 BBG000DLVDK3 11876
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 2066740 BBG000N7QR55 10394
CISCO SYSTEMS INC CSCO 0.32 1970100 BBG000C3J3C9 17871
WELLTOWER INC WELL 0.29 1758380 BBG000BKY1G5 7308
GLENCORE PLC -UNSP ADR GLNCY 0.25 1543870 BBG001VKX1Z1 107812
Barrick Mining Corp. B 0.24 1486270 N/A 38867
APPLIED MATERIALS INC AMAT 0.23 1424390 BBG000BBPFB9 3675
PALO ALTO NETWORKS INC PANW 0.23 1408780 BBG0014GJCT9 3608
NUCOR CORP NUE 0.22 1317370 BBG000BQ8KV2 5119
LAM RESH CORP LRCX 0.22 1358260 BBG000BNFLM9 5719
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1273500 BBG000PVRDL2 10407
TEXAS INSTRUMENTS INC TXN 0.21 1289670 BBG000BVV7G1 4326
REALTY INCOME CORP O 0.21 1276380 BBG000DHPN63 22330
PROLOGIS INC PLD 0.21 1311350 BBG000B9Z0J8 10382
NETFLIX INC NFLX 0.20 1226500 BBG000CL9VN6 19194
PEPSICO INC PEP 0.20 1234310 BBG000DH7JK6 9112
Crowdstrike Holdings Inc. Class A CRWD 0.20 1206770 BBG00BLYKS03 4609
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.20 1246050 N/A 49862
AUTOMATIC DATA PROCESSING ADP 0.20 1247540 BBG000JG0547 4143
AMGEN INC AMGN 0.19 1147150 BBG000BBS2Y0 2580
EQUINIX INC EQIX 0.18 1105060 BBG000MBDGM6 1142
LINDE PLC LIN 0.18 1117140 BBG01FND0CC1 2201
FRANCO-NEVADA CORP FNV 0.16 1008210 BBG000TRN6Z1 4371
GILEAD SCIENCES INC GILD 0.15 939127 BBG000CKGBP2 5918
KLA CORPORATION KLAC 0.15 937337 BBG000BMTFR4 6282
SHOPIFY INC - CLASS A SHOP 0.15 916581 BBG004DW5NB8 5450
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 934419 BBG00ZXBJ153 3997
ANALOG DEVICES INC ADI 0.15 940279 BBG000BB6G37 2305
QUALCOMM INC QCOM 0.14 872138 BBG000CGC1X8 4856
VALE SA-SP ADR VALE 0.14 873780 BBG000BN5LG7 72815
SIMON PROPERTY GROUP INC SPG 0.14 875645 BBG000BJ2D31 4117
PUBLIC STORAGE PSA 0.13 802113 BBG000BPPN67 2613
DIGITAL REALTY TRUST INC DLR 0.13 799347 BBG000Q5ZRM7 4580
SANDISK CORP/DE SNDKV SNDK 0.13 811105 BBG01R388JG1 646
T-MOBILE US INC TMUS 0.13 766681 BBG000NDV1D4 5218
INTUITIVE SURGICAL INC ISRG 0.12 764610 BBG000BJPDZ1 1693
Ventas Inc. VTR 0.12 745343 BBG000FRVHB9 8526
Vivmark Residential VMRK 0.12 745575 BBG000BG8M31 11876
KENVUE INC KVUE 0.11 665340 BBG01C79X561 34120
AO Smith Corp AOS 0.11 654946 BBG000BC1L02 10579
Kimberly-Clark Corp KMB 0.11 677184 BBG000BMW2Z0 6177
HORMEL FOODS CORP HRL 0.11 644883 BBG000BLF8D2 30782
MEDTRONIC PLC MDT 0.11 662487 BBG000BNWG87 6989
STANLEY BLACK & DECKER INC SWK 0.11 673530 BBG000BTQR96 6778
CLOROX COMPANY CLX 0.11 651221 BBG000BFS7D3 7506
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 688016 BBG0113JGQF0 1068
International Business Machines Corporation IBM 0.11 663252 BBG000BLNNH6 2617
ABBVIE INC ABBV 0.11 672119 BBG0025Y4RY4 2344
ASML HOLDING NV-NY REG SHS ASML 0.11 659480 BBG000K6MRN4 415
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 667492 N/A 14451
WESTERN DIGITAL CORP WDC 0.10 601147 BBG000BWNFZ9 1688
FRANKLIN RESOURCES INC BEN 0.10 587044 BBG000BD0TF8 18943
T ROWE PRICE GROUP INC TROW 0.10 604071 BBG000BVMPN3 5837
VERTEX PHARMACEUTICALS INC VRTX 0.10 623058 BBG000C1S2X2 1204
FORTINET INC FTNT 0.10 628822 BBG000BCMBG4 3430
GENUINE PARTS CO GPC 0.09 566442 BBG000BKL348 4597
IRON MOUNTAIN INC IRM 0.09 560198 BBG000KCZPC3 4954
PPG INDUSTRIES INC PPG 0.09 527960 BBG000BRJ809 4804
EVERSOURCE ENERGY ES 0.09 536077 BBG000BQ87N0 7936
BOOKING HOLDINGS INC BKNG 0.09 526648 BBG000BLBVN4 3439
ILLINOIS TOOL WORKS ITW 0.09 545811 BBG000BMBL90 1976
STARBUCKS CORP SBUX 0.09 566541 BBG000CTQBF3 5517
Marriott International, Inc Class A MAR 0.08 506464 BBG000BGD7W6 1283
EXTRA SPACE STORAGE INC EXR 0.08 496347 BBG000PV27K3 3462
ADOBE SYSTEMS INC ADBE 0.08 491895 BBG000BB5006 1902
CSX CORP CSX 0.08 463329 BBG000BGJRC8 9030
CADENCE DESIGN SYS INC CDNS 0.07 401746 BBG000C13CD9 1247
ERIE INDEMNITY COMPANY-CL A ERIE 0.07 401326 BBG000BBTJZ1 1597
ARM HOLDINGS PLC ARM 0.07 450720 BBG01J1GXZF0 2018
CONSTELLATION ENERGY CORPORATION CEG 0.07 435528 BBG014KFRNP7 1725
MONSTER BEVERAGE CORP MNST 0.07 443734 BBG008NVB1C0 9555
INTUIT INC INTU 0.07 441177 BBG000BH5DV1 1298
VICI PROPERTIES INC REIT VICI 0.07 430943 BBG00HVVB499 17941
CINTAS CORP CTAS 0.07 436723 BBG000H3YXF8 1933
SYNOPSYS INC SNPS 0.07 415712 BBG000BSFRF3 915
Datadog Inc. Class A DDOG 0.07 441938 BBG003NJHZT9 1577
COMCAST CORP-CLASS A CMCSA 0.06 380914 BBG000BFT2L4 17275
ROSS STORES INC ROST 0.06 357252 BBG000BSBZH7 1526
AIRBNB INC ABNB 0.06 352192 BBG001Y2XS07 2059
MERCADOLIBRE INC MELI 0.06 395487 BBG000GQPB11 237
REGENERON PHARMACEUTICALS REGN 0.06 382836 BBG000C734W3 474
APPLOVIN CORP APP 0.06 385113 BBG006HFPX77 1477
OREILLY AUTOMOTIVE INC ORLY 0.06 358009 BBG000BGYWY6 3932
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 388336 BBG000D4LWF6 6167
AMERICAN ELECTRIC POWER AEP 0.06 339461 BBG000BB9KF2 2627
LUMENTUM HOLDINGS INC LITE 0.06 345238 BBG0073F9RT7 422
FASTENAL CO FAST 0.05 290212 BBG000BJ8YN7 5531
HOST HOTELS & RESORTS INC HST 0.05 287864 BBG000BL8804 11487
ESSEX PROPERTY TRUST INC ESS 0.05 290717 BBG000CGJMB9 1056
NXP Semiconductors NV NXPI 0.05 294013 BBG000BND699 1196
DOORDASH INC CLASS A DASH 0.05 330985 BBG005D7QCJ3 1965
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 283558 BBG00CMNZNK7 283558
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 334402 BBG022XF4SZ9 1525
XCEL ENERGY INC XEL 0.04 234748 BBG000BCTQ65 3015
PAYPAL HOLDINGS INC PYPL 0.04 234147 BBG0077VNXV6 4258
Omega Healthcare Investors Inc OHI 0.04 234110 BBG000BGBTC2 4980
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 253298 BBG000C30L48 217
Baker Hughes Company BKR 0.04 257366 BBG00GBVBK51 4595
TERADYNE INC TER 0.04 226806 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.04 223821 BBG000BKYDP9 11561
EXELON CORP EXC 0.04 219226 BBG000J6XT05 4922
MID-AMERICA APARTMENT COMM MAA 0.04 228159 BBG000BLMY92 1908
KEURIG DR PEPPER INC KDP 0.04 230584 BBG000TJM7F0 6590
KIMCO REALTY CORP KIM 0.04 258968 BBG000CN3S73 10950
INVITATION HOMES INC REIT USD.01 INVH 0.04 272531 BBG00FQH6BS9 9903
PACCAR INC PCAR 0.04 266874 BBG000BQVTF5 2557
DIAMONDBACK ENERGY INC FANG 0.04 273412 BBG002PHSYX9 1320
AUTODESK INC ADSK 0.04 251944 BBG000BM7HL0 1010
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 252204 BBG00LBLDDR2 3228
THOMSON REUTERS CORP TRI 0.04 223406 N/A 1830
W. P. CAREY REIT INC WPC 0.04 241076 BBG000BCQM58 3744
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 240637 BBG00B6BFWH9 2143
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 255490 BBG020QYV152 1515
MICROCHIP TECHNOLOGY INC MCHP 0.03 198327 BBG000BHCP19 2613
ROPER TECHNOLOGIES INC ROP 0.03 198301 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 165660 BBG000BHJWG1 390
ASTERA LABS INC ALAB 0.03 195152 BBG00TDKHW99 752
Old Dominion Freight Line Inc. ODFL 0.03 180280 BBG000CHSS88 988
IDEXX LABS IDXX 0.03 206416 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 192979 BBG000BS1YV5 949
FERROVIAL SA FER 0.03 174557 BBG01H0DF657 3466.88
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 156772 BBG01BFR8YV1 2178
WORKDAY INC-CLASS A WDAY 0.03 205790 BBG000VC0T95 987
Nebius Group NV NBIS 0.03 163999 BBG001NVJ6W4 1070
MICROSTRATEGY INC-CL A MSTR 0.03 212247 BBG000GQJPZ0 1518
PAYCHEX INC PAYX 0.03 198773 BBG000BQSQ38 1718
AIR PRODUCTS & CHEMICALS INC APD 0.02 131765 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 140120 BBG000B9ZXB4 1336
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 138873 BBG000BFGNJ5 610
COREWEAVE INC CRWV 0.02 117886 BBG011ZTRJ21 2136
COPART INC CPRT 0.02 128202 BBG000BM9RH1 4398
DEXCOM INC DXCM 0.02 145747 BBG000QTF8K1 1855
CONSOLIDATED EDISON INC ED 0.02 135618 BBG000BHLYS1 1175
MCDONALDS CORP MCD 0.02 130432 BBG000BNSZP1 520
ROCKET LAB CORP RKLB 0.02 150265 BBG01V7JN3F3 2792
Cash & Other Cash&Other -0.04 -245015 N/A -245015

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.