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 09/22/2026
TICKER RAA
NET ASSETS $615M
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 $30.46
30 DAY MEDIAN BID-ASK SPREAD 0.000979

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 09/22/2026

NET ASSET VALUE

$30.46

CLOSING PRICE

$30.47

PREMIUM/DISCOUNT

0.03%
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 29
Discount 13 16 8 14 19

Asset Allocation

As of 9/22/2026

Equities

46.53%
Nasdaq
17.65%
US Large Cap
15.16%
Dividend Payers
5.73%
US Small Cap
3.90%
Emerging Ex. China
2.08%
Japan
1.03%
Europe
0.98%

Fixed Income

24.67%
Corporate Bonds
6.88%
High Yield
5.90%
Emerging Mkt Bonds
3.94%
TIPS
3.93%
Long Term Treasuries
2.96%
T-Bills
1.06%

Alternatives

28.80%
Commodities
7.24%
Managed Futures
5.06%
Energy
4.83%
Gold
3.88%
Miners
3.85%
Real Estate
2.85%
Bitcoin
1.09%

Holdings

As of 09/22/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.16 93151300 BBG00RYR67P4 1877670
INVESCO OPTIMUM YIELD DIVERS PDBC 7.24 44465300 N/A 2296760
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.88 42307500 BBG000PWYVH7 529174
SCHWAB HIGH YIELD BOND ETF SCYB 5.90 36284700 BBG01F80WX71 1410210
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.94 24241400 BBG000NXKWH0 258685
SCHWAB U.S. TIPS ETF SCHP 3.93 24158100 BBG000BGN6P5 946633
Vanguard Morningstar Small-Cap ETF VB 3.90 23985400 BBG000HT3Z79 82049
SPROTT PHYSICAL GOLD TRUS PHYS 3.88 23869000 BBG000Q83F79 724842
iM DBi Managed Futures Strategy ETF DBMF 3.64 22394000 N/A 702007
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.96 18221500 BBG00PZFJPC3 612489
ISHARES MSCI EMR MRK EX CHNA EMXC 2.08 12793200 BBG00H5VLMJ6 124812
NVIDIA CORP NVDA 1.48 9085000 BBG000BBJQV0 39695
Simplify DBi CTA Managed Futures Index ETF SDMF 1.42 8723090 BBG020BR8WR7 328232
APPLE INC AAPL 1.36 8366680 BBG000B9XRY4 24626
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.09 6704690 N/A 175930
Franklin FTSE Japan ETF FLJP 1.03 6300030 BBG00J3MDY16 150108
MICROSOFT CORP MSFT 1.01 6189640 BBG000BPH459 12429
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.00 6139460 BBG01922X0X9 122863
Franklin FTSE Europe ETF FLEE 0.98 6000420 BBG00J3PR1S7 153752
MICRON TECHNOLOGY INC MU 0.90 5527940 BBG000C5Z1S3 5043
BHP GROUP LTD BHP 0.81 4968190 BBG000BD5NZ4 56566
AMAZON.COM INC AMZN 0.76 4650840 BBG000BVPV84 18240
ADVANCED MICRO DEVICES INC AMD 0.75 4615900 BBG000BBQCY0 7400
CHEVRON CORP CVX 0.66 4051030 BBG000K4ND22 20014
META PLATFORMS INC META 0.59 3600480 BBG000MM2P62 4888
ALPHABET INC-CL A GOOGL 0.57 3483160 BBG009S39JX6 9919
ALPHABET INC-CL C GOOG 0.53 3229520 BBG009S3NB30 9296
MARATHON PETROLEUM CORP MPC 0.52 3194990 BBG001DCCGR8 8199
Suncor Energy Inc. SU 0.50 3091690 BBG000BC1LY5 46186
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.49 3025810 BBG023CY9MM1 19065
Tesla Inc. TSLA 0.49 2988380 BBG000N9MNX3 7887
CANADIAN NATURAL RESOURCES CNQ 0.48 2947980 BBG000HW5GX3 61712
OCCIDENTAL PETROLEUM CORP OXY 0.47 2882620 BBG000BQQ2S6 51192
EQT CORP EQT 0.47 2870310 BBG000BHZ5J9 56491
WILLIAMS COMPANIES INC. WMB 0.47 2904860 BBG000BWVCP8 40925
Cheniere Energy Inc LNG 0.47 2861990 BBG000C3HSR0 10485
INTEL CORP INTC 0.46 2844570 BBG000C0G1D1 22966
Broadcom Inc. AVGO 0.46 2850340 BBG00KHY5S69 7819
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2857240 BBG000BPWXK1 22452
SCHLUMBERGER LTD SLB 0.43 2636280 BBG000BT41Q8 50581
WAL-MART STORES INC WMT 0.40 2430680 BBG000BWXBC2 22073
WELLTOWER INC WELL 0.40 2464250 BBG000BKY1G5 10696
REALTY INCOME CORP O 0.39 2423890 BBG000DHPN63 42878
RIO TINTO PLC-SPON ADR RIO 0.38 2327180 BBG000FD28T3 23871
FREEPORT-MCMORAN INC FCX 0.37 2288790 BBG000BJDB15 30784
AUTOMATIC DATA PROCESSING ADP 0.36 2226690 BBG000JG0547 8258
AGNICO EAGLE MINES LTD AEM 0.34 2096560 BBG000DLVDK3 10300
PROLOGIS INC PLD 0.33 2033580 BBG000B9Z0J8 14966
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.32 1942020 BBG000N7QR55 10498
CISCO SYSTEMS INC CSCO 0.31 1914640 BBG000C3J3C9 17988
COSTCO WHOLESALE CORP COST 0.30 1839290 BBG000F6H8W8 2045
MEDTRONIC PLC MDT 0.30 1836190 BBG000BNWG87 20229
AO Smith Corp AOS 0.29 1792200 BBG000BC1L02 30815
STANLEY BLACK & DECKER INC SWK 0.29 1762450 BBG000BTQR96 19130
ILLINOIS TOOL WORKS ITW 0.29 1778070 BBG000BMBL90 6574
LAM RESH CORP LRCX 0.29 1769970 BBG000BNFLM9 5698
PEPSICO INC PEP 0.29 1810950 BBG000DH7JK6 13804
FRANKLIN RESOURCES INC BEN 0.29 1782490 BBG000BD0TF8 53803
GENUINE PARTS CO GPC 0.28 1709940 BBG000BKL348 13195
KENVUE INC KVUE 0.28 1735780 BBG01C79X561 97188
APPLIED MATERIALS INC AMAT 0.28 1727310 BBG000BBPFB9 3656
T ROWE PRICE GROUP INC TROW 0.28 1729430 BBG000BVMPN3 16602
ABBVIE INC ABBV 0.28 1730760 BBG0025Y4RY4 6526
AMCOR PLC COMMON STOCK USD.01 AMCR 0.28 1724240 N/A 39876
HORMEL FOODS CORP HRL 0.28 1710320 BBG000BLF8D2 84128
EQUINIX INC EQIX 0.28 1745660 BBG000MBDGM6 1648
Kimberly-Clark Corp KMB 0.27 1681570 BBG000BMW2Z0 17001
CLOROX COMPANY CLX 0.26 1628310 BBG000BFS7D3 18684
GLENCORE PLC -UNSP ADR GLNCY 0.26 1580400 BBG001VKX1Z1 107437
Barrick Mining Corp. B 0.25 1558270 N/A 35512
EVERSOURCE ENERGY ES 0.24 1494410 BBG000BQ87N0 22513
International Business Machines Corporation IBM 0.24 1463710 BBG000BLNNH6 6326
PPG INDUSTRIES INC PPG 0.24 1505650 BBG000BRJ809 13971
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1441350 BBG000PVRDL2 9371
NETFLIX INC NFLX 0.23 1399180 BBG000CL9VN6 19390
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1335430 N/A 47728
SPACE EXPLORATION TECH CORP A SPCX 0.22 1341420 BBG000NQF3Z5 8670
PALO ALTO NETWORKS INC PANW 0.22 1365680 BBG0014GJCT9 3646
NUCOR CORP NUE 0.20 1204470 BBG000BQ8KV2 4903
SANDISK CORP/DE SNDKV SNDK 0.20 1219030 BBG01R388JG1 646
DIGITAL REALTY TRUST INC DLR 0.19 1194660 BBG000Q5ZRM7 6435
SIMON PROPERTY GROUP INC SPG 0.19 1192450 BBG000BJ2D31 5790
KLA CORPORATION KLAC 0.18 1135570 BBG000BMTFR4 6030
Crowdstrike Holdings Inc. Class A CRWD 0.18 1107520 BBG00BLYKS03 4429
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1081450 BBG00ZXBJ153 4122
Vivmark Residential VMRK 0.18 1122790 BBG000BG8M31 18007.9
TEXAS INSTRUMENTS INC TXN 0.18 1125270 BBG000BVV7G1 4146
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1124090 BBG000BBTJZ1 4796
FRANCO-NEVADA CORP FNV 0.18 1119840 BBG000TRN6Z1 4191
PUBLIC STORAGE PSA 0.17 1056280 BBG000BPPN67 3646
AMGEN INC AMGN 0.17 1014110 BBG000BBS2Y0 2472
Ventas Inc. VTR 0.16 995850 BBG000FRVHB9 11465
LINDE PLC LIN 0.16 989793 BBG01FND0CC1 2129
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 949275 BBG0113JGQF0 1032
VALE SA-SP ADR VALE 0.15 921853 BBG000BN5LG7 64965
QUALCOMM INC QCOM 0.15 927110 BBG000CGC1X8 4676
GILEAD SCIENCES INC GILD 0.14 865028 BBG000CKGBP2 5666
SHOPIFY INC - CLASS A SHOP 0.14 850391 BBG004DW5NB8 5756
ANALOG DEVICES INC ADI 0.14 871696 BBG000BB6G37 2233
IRON MOUNTAIN INC IRM 0.14 842503 BBG000KCZPC3 7132
T-MOBILE US INC TMUS 0.13 812375 BBG000NDV1D4 5002
WESTERN DIGITAL CORP WDC 0.12 750794 BBG000BWNFZ9 1616
ASML HOLDING NV-NY REG SHS ASML 0.12 725378 BBG000K6MRN4 415
EXTRA SPACE STORAGE INC EXR 0.11 676435 BBG000PV27K3 5011
INTUITIVE SURGICAL INC ISRG 0.11 651788 BBG000BJPDZ1 1621
ARM HOLDINGS PLC ARM 0.11 648407 BBG01J1GXZF0 1946
VERTEX PHARMACEUTICALS INC VRTX 0.10 601508 BBG000C1S2X2 1168
BOOKING HOLDINGS INC BKNG 0.10 595298 BBG000BLBVN4 3625
VICI PROPERTIES INC REIT VICI 0.10 613552 BBG00HVVB499 25586
FORTINET INC FTNT 0.09 572618 BBG000BCMBG4 3286
ROPER TECHNOLOGIES INC ROP 0.08 483193 BBG000F1ZSN5 1328
STARBUCKS CORP SBUX 0.08 504178 BBG000CTQBF3 5301
APPLOVIN CORP APP 0.08 473700 BBG006HFPX77 1441
ADOBE SYSTEMS INC ADBE 0.07 435998 BBG000BB5006 1830
MONSTER BEVERAGE CORP MNST 0.07 405469 BBG008NVB1C0 9159
MERCADOLIBRE INC MELI 0.07 432899 BBG000GQPB11 237
CSX CORP CSX 0.07 403702 BBG000BGJRC8 8665
ESSEX PROPERTY TRUST INC ESS 0.07 416811 BBG000CGJMB9 1517
CONSTELLATION ENERGY CORPORATION CEG 0.07 435499 BBG014KFRNP7 1653
Marriott International, Inc Class A MAR 0.07 434031 BBG000BGD7W6 1247
CADENCE DESIGN SYS INC CDNS 0.06 366872 BBG000C13CD9 1211
DOORDASH INC CLASS A DASH 0.06 363854 BBG005D7QCJ3 1893
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 345495 BBG000B9ZXB4 3332
INTUIT INC INTU 0.06 368946 BBG000BH5DV1 1262
INVITATION HOMES INC REIT USD.01 INVH 0.06 380747 BBG00FQH6BS9 14029
MCDONALDS CORP MCD 0.06 347736 BBG000BNSZP1 1389
CINTAS CORP CTAS 0.06 369967 BBG000H3YXF8 1861
CONSOLIDATED EDISON INC ED 0.06 357210 BBG000BHLYS1 3440
SYNOPSYS INC SNPS 0.06 359722 BBG000BSFRF3 879
Datadog Inc. Class A DDOG 0.06 381359 BBG003NJHZT9 1541
W. P. CAREY REIT INC WPC 0.06 350370 BBG000BCQM58 5238
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 361288 BBG000D4LWF6 5915
Warner Bros Discovery Inc WBD 0.06 357597 BBG011386VF4 11599
HOST HOTELS & RESORTS INC HST 0.06 362228 BBG000BL8804 16258
HEALTHPEAK PROPERTIES INC DOC 0.06 338582 BBG000BKYDP9 16436
AIR PRODUCTS & CHEMICALS INC APD 0.06 344856 BBG000BC4JJ4 1198
COMCAST CORP-CLASS A CMCSA 0.06 371051 BBG000BFT2L4 16550
ROSS STORES INC ROST 0.06 346440 BBG000BSBZH7 1490
KIMCO REALTY CORP KIM 0.06 350404 BBG000CN3S73 15539
REGENERON PHARMACEUTICALS REGN 0.06 381049 BBG000C734W3 474
Cash & Other Cash&Other 0.05 290348 N/A 290348
PACCAR INC PCAR 0.05 278941 BBG000BQVTF5 2449
Sun Communities Inc SUI 0.05 329137 BBG000BLJWF3 2893
AIRBNB INC ABNB 0.05 321516 BBG001Y2XS07 1987
OREILLY AUTOMOTIVE INC ORLY 0.05 325086 BBG000BGYWY6 3788
LUMENTUM HOLDINGS INC LITE 0.05 327202 BBG0073F9RT7 346
AMERICAN ELECTRIC POWER AEP 0.05 302960 BBG000BB9KF2 2519
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 315445 BBG022XF4SZ9 1489
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 299595 BBG000C30L48 217
TERADYNE INC TER 0.05 292638 BBG000BV4DR6 734
MID-AMERICA APARTMENT COMM MAA 0.05 326828 BBG000BLMY92 2743
PAYPAL HOLDINGS INC PYPL 0.04 215685 BBG0077VNXV6 4078
Nebius Group NV NBIS 0.04 244148 BBG001NVJ6W4 1034
DIAMONDBACK ENERGY INC FANG 0.04 236898 BBG002PHSYX9 1284
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 250692 BBG00LBLDDR2 3120
MICROSTRATEGY INC-CL A MSTR 0.04 247983 BBG000GQJPZ0 1482
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 247466 BBG020QYV152 1479
FASTENAL CO FAST 0.04 266175 BBG000BJ8YN7 5315
ASTERA LABS INC ALAB 0.04 273322 BBG00TDKHW99 752
Baker Hughes Company BKR 0.04 252803 BBG00GBVBK51 4415
NXP Semiconductors NV NXPI 0.04 275581 BBG000BND699 1160
PAYCHEX INC PAYX 0.03 188516 BBG000BQSQ38 1646
XCEL ENERGY INC XEL 0.03 209478 BBG000BCTQ65 2907
MICROCHIP TECHNOLOGY INC MCHP 0.03 189929 BBG000BHCP19 2505
WORKDAY INC-CLASS A WDAY 0.03 179007 BBG000VC0T95 951
COREWEAVE INC CRWV 0.03 179073 BBG011ZTRJ21 2064
DEXCOM INC DXCM 0.03 159632 BBG000QTF8K1 1783
AUTODESK INC ADSK 0.03 213910 BBG000BM7HL0 974
ROCKET LAB CORP RKLB 0.03 193194 BBG01V7JN3F3 2684
THOMSON REUTERS CORP TRI 0.03 168170 N/A 1758
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 211884 BBG00B6BFWH9 2071
AXON ENTERPRISE INC AXON 0.03 179135 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 168799 BBG000CHSS88 952
EXELON CORP EXC 0.03 198007 BBG000J6XT05 4737
IDEXX LABS IDXX 0.03 188783 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 187649 BBG000BS1YV5 913
KEURIG DR PEPPER INC KDP 0.03 199553 BBG000TJM7F0 6333
FERROVIAL SA FER 0.03 187078 BBG01H0DF657 3322.88
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 153506 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 139565 BBG01BFR8YV1 2106
COPART INC CPRT 0.02 121457 BBG000BM9RH1 4218
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 110654 BBG00CMNZNK7 110654
KRAFT HEINZ CO/THE KHC 0.02 130848 BBG005CPNTQ2 5452

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.