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 02/17/2026
TICKER RAA
NET ASSETS $541M
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 $28.27
30 DAY MEDIAN BID-ASK SPREAD 0.000704

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 N/A N/A N/A N/A
RAA - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
RAA - NAV 2.61% 0.22% 3.25% 2.57% 2.61% - 15.24% 12.32%
RAA - Market Price 2.76% 0.23% 3.18% 2.59% 2.76% - 15.47% 12.36%
S&P 500 Index Total Return 1.45% 0.06% 1.76% 2.65% 1.45% - 17.87% 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 02/17/2026

NET ASSET VALUE

$28.27

CLOSING PRICE

$28.27

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 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Premium 23 54 47 39 19
Discount 0 5 13 16 4

Asset Allocation

As of 2/17/2026

Equities

49.53%
Nasdaq
20.17%
US Large Cap
13.80%
Dividend Payers
4.14%
US Small Cap
4.08%
Japan
3.21%
Emerging Ex. China
2.09%
Europe
2.04%

Fixed Income

28.38%
High Yield
7.93%
Long Term Treasuries
6.16%
Corporate Bonds
6.04%
Emerging Mkt Bonds
4.04%
TIPS
3.01%
T-Bills
1.20%

Alternatives

22.09%
Miners
5.17%
Managed Futures
5.14%
Gold
4.03%
Commodities
2.89%
Energy
2.11%
Bitcoin
1.62%
Real Estate
1.13%

Holdings

As of 02/17/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 13.80 74618700 BBG00RYR67P4 571922
SCHWAB HIGH YIELD BOND ETF SCYB 7.93 42890200 BBG01F80WX71 1620330
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.16 33289400 BBG00PZFJPC3 1023660
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.04 32651400 BBG000PWYVH7 386270
iM DBi Managed Futures Strategy ETF DBMF 5.14 27813300 N/A 921581
VANGUARD SMALL-CAP ETF VB 4.08 22046800 BBG000HT3Z79 79868
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.04 21845000 BBG000NXKWH0 223776
SPROTT PHYSICAL GOLD TRUS PHYS 4.03 21766400 BBG000Q83F79 592768
Franklin FTSE Japan ETF FLJP 3.21 17365700 BBG00J3MDY16 441876
SCHWAB U.S. TIPS ETF SCHP 3.01 16279800 BBG000BGN6P5 607002
INVESCO OPTIMUM YIELD DIVERS PDBC 2.89 15619000 N/A 1113260
ISHARES MSCI EMR MRK EX CHNA EMXC 2.09 11291400 BBG00H5VLMJ6 134823
Franklin FTSE Europe ETF FLEE 2.04 11007500 BBG00J3PR1S7 281307
NVIDIA CORP NVDA 1.76 9507090 BBG000BBJQV0 51398
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.62 8774350 N/A 292771
APPLE INC AAPL 1.52 8230420 BBG000B9XRY4 31190
MICROSOFT CORP MSFT 1.29 6995450 BBG000BPH459 17627
ISHARES MSCI GLOBAL METALS & PICK 1.24 6723520 BBG002GKR8T5 112754
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.00 5388660 BBG01922X0X9 107881
AMAZON.COM INC AMZN 0.86 4627250 BBG000BVPV84 23004
Tesla Inc. TSLA 0.70 3804490 BBG000N9MNX3 9265
ALPHABET INC-CL A GOOGL 0.69 3716960 BBG009S39JX6 12307
META PLATFORMS INC META 0.68 3702770 BBG000MM2P62 5792
WAL-MART STORES INC WMT 0.67 3647740 BBG000BWXBC2 28310
ALPHABET INC-CL C GOOG 0.64 3455180 BBG009S3NB30 11410
Broadcom Inc. AVGO 0.62 3361650 BBG00KHY5S69 10109
BHP GROUP LTD BHP 0.60 3264230 BBG000BD5NZ4 43939
ISHARES MSCI GLOBAL GOLD MIN RING 0.52 2836820 BBG002GKR6T9 32807
COSTCO WHOLESALE CORP COST 0.50 2702170 BBG000F6H8W8 2670
MICRON TECHNOLOGY INC MU 0.49 2651740 BBG000C5Z1S3 6633
NEWMONT GOLDCORP CORPORATION COM NEM 0.42 2285240 BBG000BPWXK1 18684
FREEPORT-MCMORAN INC FCX 0.41 2240600 BBG000BJDB15 36677
ADVANCED MICRO DEVICES INC AMD 0.37 2011510 BBG000BBQCY0 9905
AGNICO EAGLE MINES LTD AEM 0.37 1994800 BBG000DLVDK3 9367
NETFLIX INC NFLX 0.36 1940780 BBG000CL9VN6 25205
RIO TINTO PLC-SPON ADR RIO 0.35 1880830 BBG000FD28T3 19414
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.35 1896870 BBG000N7QR55 14260
CHEVRON CORP CVX 0.34 1822470 BBG000K4ND22 10094
CISCO SYSTEMS INC CSCO 0.33 1789140 BBG000C3J3C9 23281
LAM RESH CORP LRCX 0.32 1716910 BBG000BNFLM9 7288
APPLIED MATERIALS INC AMAT 0.30 1620390 BBG000BBPFB9 4512
FASTENAL CO FAST 0.27 1456780 BBG000BJ8YN7 31884
Barrick Mining Corp. B 0.27 1455570 N/A 31202
AUTOMATIC DATA PROCESSING ADP 0.27 1459600 BBG000JG0547 6850
T-MOBILE US INC TMUS 0.25 1373000 BBG000NDV1D4 6252
PEPSICO INC PEP 0.24 1280950 BBG000DH7JK6 7911
INTEL CORP INTC 0.24 1322550 BBG000C0G1D1 28639
REALTY INCOME CORP O 0.24 1297880 BBG000DHPN63 19520
LINDE PLC LIN 0.24 1308750 BBG01FND0CC1 2714
Kimberly-Clark Corp KMB 0.23 1266160 BBG000BMW2Z0 11776
ILLINOIS TOOL WORKS ITW 0.23 1233700 BBG000BMBL90 4148
STANLEY BLACK & DECKER INC SWK 0.23 1256420 BBG000BTQR96 13822
MARATHON PETROLEUM CORP MPC 0.23 1237350 BBG001DCCGR8 6201
AMCOR PLC COMMON STOCK USD.01 AMCR 0.23 1219270 N/A 24601.8
CANADIAN NATURAL RESOURCES CNQ 0.22 1188430 BBG000HW5GX3 29279
TEXAS INSTRUMENTS INC TXN 0.22 1196160 BBG000BVV7G1 5300
AMGEN INC AMGN 0.22 1188030 BBG000BBS2Y0 3182
CLOROX COMPANY CLX 0.22 1181150 BBG000BFS7D3 9606
WILLIAMS COMPANIES INC. WMB 0.22 1166400 BBG000BWVCP8 16209
KENVUE INC KVUE 0.21 1147050 BBG01C79X561 62306
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1148030 BBG000PVRDL2 8066
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.21 1128410 BBG000BRK7L6 20483
SCHLUMBERGER LTD SLB 0.21 1121200 BBG000BT41Q8 22496
Cheniere Energy Inc LNG 0.21 1117390 BBG000C3HSR0 5102
FRANKLIN RESOURCES INC BEN 0.21 1123080 BBG000BD0TF8 40854
GILEAD SCIENCES INC GILD 0.21 1117170 BBG000CKGBP2 7195
KLA CORPORATION KLAC 0.21 1157040 BBG000BMTFR4 787
EXXON MOBIL CORP XOM 0.21 1136190 BBG000GZQ728 7772
FRANCO-NEVADA CORP FNV 0.21 1146260 BBG000RD3CL8 4590
OCCIDENTAL PETROLEUM CORP OXY 0.20 1104580 BBG000BQQ2S6 24044
EQT CORP EQT 0.20 1084890 BBG000BHZ5J9 18786
AIR PRODUCTS & CHEMICALS INC APD 0.20 1107430 BBG000BC4JJ4 3988
INTUITIVE SURGICAL INC ISRG 0.20 1060210 BBG000BJPDZ1 2149
VALE SA-SP ADR VALE 0.20 1094840 BBG000BN5LG7 68858
ABBVIE INC ABBV 0.20 1086060 BBG0025Y4RY4 4664
HORMEL FOODS CORP HRL 0.19 1033280 BBG000BLF8D2 44082
GLENCORE PLC -UNSP ADR GLNCY 0.19 1045910 BBG001VKX1Z1 79356
MEDTRONIC PLC MDT 0.19 1008930 BBG000BNWG87 10465
EVERSOURCE ENERGY ES 0.19 1025930 BBG000BQ87N0 14048
ANALOG DEVICES INC ADI 0.19 1045270 BBG000BB6G37 3097
GENUINE PARTS CO GPC 0.18 955750 BBG000BKL348 7601
T ROWE PRICE GROUP INC TROW 0.18 961365 BBG000BVMPN3 10248
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.18 995831 BBG00CMNZNK7 995831
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 997037 N/A 41388
QUALCOMM INC QCOM 0.17 899282 BBG000CGC1X8 6305
HONEYWELL INTERNATIONAL INC HON 0.16 856554 BBG000H556T9 3530
SHOPIFY INC - CLASS A SHOP 0.15 833951 BBG008HBD923 7345
WELLTOWER INC WELL 0.15 804602 BBG000BKY1G5 3734
BOOKING HOLDINGS INC BKNG 0.15 790769 BBG000BLBVN4 191
PROLOGIS INC PLD 0.15 786540 BBG000B9Z0J8 5548
APPLOVIN CORP APP 0.14 743350 BBG006HFPX77 1975
PALO ALTO NETWORKS INC PANW 0.13 688662 BBG0014GJCT9 4212
VERTEX PHARMACEUTICALS INC VRTX 0.13 715503 BBG000C1S2X2 1499
STARBUCKS CORP SBUX 0.13 699972 BBG000CTQBF3 7338
ASML HOLDING NV-NY REG SHS ASML 0.13 680075 BBG000K6MRN4 479
WESTERN DIGITAL CORP WDC 0.12 634986 BBG000BWNFZ9 2235
COMCAST CORP-CLASS A CMCSA 0.12 656240 BBG000BFT2L4 20800
CONSTELLATION ENERGY CORPORATION CEG 0.12 649956 BBG014KFRNP7 2145
ADOBE SYSTEMS INC ADBE 0.12 653209 BBG000BB5006 2508
INTUIT INC INTU 0.12 666581 BBG000BH5DV1 1758
Crowdstrike Holdings Inc. Class A CRWD 0.12 642970 BBG00BLYKS03 1552
International Business Machines Corporation IBM 0.12 653008 BBG000BLNNH6 2528
EQUINIX INC EQIX 0.11 568326 BBG000MBDGM6 597
MERCADOLIBRE INC MELI 0.11 606482 BBG000GQPB11 307
TARGET CORP TGT 0.11 568249 BBG000H8TVT2 4876
CADENCE DESIGN SYS INC CDNS 0.10 542259 BBG000C13CD9 1913
CINCINNATI FINANCIAL CORP CINF 0.10 526276 BBG000BFPK65 3169
Marriott International, Inc Class A MAR 0.10 552868 BBG000BGD7W6 1536
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.10 551120 BBG0113JGQF0 1325
MONSTER BEVERAGE CORP MNST 0.10 556425 BBG008NVB1C0 6712
CSX CORP CSX 0.10 538601 BBG000BGJRC8 13127
REGENERON PHARMACEUTICALS REGN 0.09 471357 BBG000C734W3 594
DIGITAL REALTY TRUST INC DLR 0.09 482105 BBG000Q5ZRM7 2680
ROSS STORES INC ROST 0.09 464406 BBG000BSBZH7 2343
SYNOPSYS INC SNPS 0.09 506339 BBG000BSFRF3 1200
OREILLY AUTOMOTIVE INC ORLY 0.09 502725 BBG000BGYWY6 5429
MONDELEZ INTERNATIONAL INC-A MDLZ 0.08 457929 BBG000D4LWF6 7650
PACCAR INC PCAR 0.08 440543 BBG000BQVTF5 3482
SIMON PROPERTY GROUP INC SPG 0.08 440786 BBG000BJ2D31 2182
Warner Bros Discovery Inc WBD 0.08 424868 BBG011386VF4 14778
NXP Semiconductors NV NXPI 0.08 423516 BBG000BND699 1728
CINTAS CORP CTAS 0.08 453579 BBG000H3YXF8 2327
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 411563 BBG00ZXBJ153 5209
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 407116 BBG00LBLDDR2 3998
AMERICAN ELECTRIC POWER AEP 0.08 410386 BBG000BB9KF2 3151
AO Smith Corp AOS 0.07 380900 BBG000BC1L02 4793
PUBLIC STORAGE PSA 0.07 395922 BBG000BPPN67 1311
DOORDASH INC CLASS A DASH 0.07 393187 BBG005D7QCJ3 2422
FORTINET INC FTNT 0.07 365154 BBG000BCMBG4 4470
ELECTRONIC ARTS INC EA 0.07 368731 BBG000BP0KQ8 1848
Ventas Inc. VTR 0.06 324013 BBG000FRVHB9 3729
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 319105 BBG000C30L48 272
Baker Hughes Company BKR 0.06 334019 BBG00GBVBK51 5580
PPG INDUSTRIES INC PPG 0.06 348398 BBG000BRJ809 2697
AIRBNB INC ABNB 0.06 313060 BBG001Y2XS07 2520
IDEXX LABS IDXX 0.06 300562 BBG000BLRT07 480
FERROVIAL SE FER 0.06 315052 BBG01H7CZ9S9 4333
AUTODESK INC ADSK 0.06 301028 BBG000BM7HL0 1336
DIAMONDBACK ENERGY INC FANG 0.06 332965 BBG002PHSYX9 1975
XCEL ENERGY INC XEL 0.05 278830 BBG000BCTQ65 3453
MICROCHIP TECHNOLOGY INC MCHP 0.05 246372 BBG000BHCP19 3121
EXELON CORP EXC 0.05 282571 BBG000J6XT05 5882
AXON ENTERPRISE INC AXON 0.05 277305 BBG000BHJWG1 642
Old Dominion Freight Line Inc. ODFL 0.05 265428 BBG000CHSS88 1373
Zscaler Inc. ZS 0.05 246631 BBG003338H34 1429
EXTRA SPACE STORAGE INC EXR 0.05 265964 BBG000PV27K3 1799
VICI PROPERTIES INC REIT VICI 0.05 247450 BBG00HVVB499 8287
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 263760 BBG000BFGNJ5 793
Datadog Inc. Class A DDOG 0.05 258724 BBG003NJHZT9 2111
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 283949 BBG00B6BFWH9 2718
ROPER TECHNOLOGIES INC ROP 0.04 193104 BBG000F1ZSN5 612
PAYPAL HOLDINGS INC PYPL 0.04 228944 BBG0077VNXV6 5610
PAYCHEX INC PAYX 0.04 196706 BBG000BQSQ38 2109
IRON MOUNTAIN INC IRM 0.04 221823 BBG000KCZPC3 2039
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 228726 BBG000BBDV81 3527
VERISK ANALYTICS INC VRSK 0.04 221802 BBG000BCZL41 1251
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 231093 BBG000BS1YV5 1192
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 228634 N/A 2748
KEURIG DR PEPPER INC KDP 0.04 231147 BBG000TJM7F0 7935
COPART INC CPRT 0.04 211275 BBG000BM9RH1 5631
WORKDAY INC-CLASS A WDAY 0.04 192353 BBG000VC0T95 1344
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 222959 BBG01BFR8YV1 2732
DEXCOM INC DXCM 0.04 231433 BBG000QTF8K1 3286
CONSOLIDATED EDISON INC ED 0.04 231378 BBG000BHLYS1 2047
MCDONALDS CORP MCD 0.04 215574 BBG000BNSZP1 658
AVALONBAY COMMUNITIES INC AVB 0.04 221530 BBG000BLPBL5 1247
MICROSTRATEGY INC-CL A MSTR 0.04 214622 BBG000GQJPZ0 1668
INSMED INC INSM 0.03 183183 BBG000BWM5P3 1217
KRAFT HEINZ CO/THE KHC 0.03 159160 BBG005CPNTQ2 6693
COSTAR GROUP INC CSGP 0.03 184058 BBG000D7JKW9 4024
EQUITY RESIDENTIAL EQR 0.03 182695 BBG000BG8M31 2878
CHARTER COMMUNICATIONS INC-A CHTR 0.03 152871 BBG000VPGNR2 645
Sun Communities Inc SUI 0.02 121215 BBG000BLJWF3 922
ATLASSIAN CORP PLC-CLASS A TEAM 0.02 122404 BBG01BGWHFR5 1490
ESSEX PROPERTY TRUST INC ESS 0.02 96526.4 BBG000CGJMB9 381
Omega Healthcare Investors Inc OHI 0.02 118984 BBG000BGBTC2 2484
MID-AMERICA APARTMENT COMM MAA 0.02 119222 BBG000BLMY92 887
KIMCO REALTY CORP KIM 0.02 132904 BBG000CN3S73 5741
INVITATION HOMES INC REIT USD.01 INVH 0.02 113065 BBG00FQH6BS9 4166
W. P. CAREY REIT INC WPC 0.02 131856 BBG000BCQM58 1778
ASTRAZENECA PLC AZNCF 0.00 628.44 BBG000D3MHB4 3
Cash & Other Cash&Other -0.01 -57285.1 N/A -57285.1

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.