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 09/17/2025
TICKER RAA
NET ASSETS $477M
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 $26.89
30 DAY MEDIAN BID-ASK SPREAD 0.000759

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 1.58% 3.48% 6.58% 6.98% - - 5.86% 2.78%
RAA - Market Price 1.66% 3.45% 6.38% 6.79% - - 5.87% 2.95%
S&P 500 Index Total Return 2.03% 5.09% 9.62% 10.94% 10.79% 8.59% 9.20% 4.68%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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

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 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Premium 0 0 23 54 42
Discount 0 0 0 5 10

Asset Allocation

As of 9/17/2025

Equities

53.93%
Nasdaq
26.07%
US Large Cap
14.01%
Dividend Payers
5.78%
Emerging Ex. China
3.11%
Japan
2.02%
Europe
1.95%
US Small Cap
0.99%

Fixed Income

32.76%
Corporate Bonds
8.93%
High Yield
7.88%
Emerging Mkt Bonds
5.97%
Long Term Treasuries
5.06%
TIPS
2.96%
T-Bills
1.96%

Alternatives

13.31%
Bitcoin
3.14%
Gold
3.11%
Managed Futures
3.05%
Miners
2.03%
Commodities
0.99%
Real Estate
0.99%
Energy
0.00%

Holdings

As of 09/17/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.01 66778900 BBG00RYR67P4 527188
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 8.93 42558800 BBG000PWYVH7 504431
Schwab High Yield Bond ETF SCYB 7.88 37569800 BBG01F80WX71 1409750
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.97 28467800 BBG000NXKWH0 298155
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.06 24139900 BBG00PZFJPC3 741852
GRAYSCALE BITCN MINI TRU ETF BTC.UP 3.14 14965900 N/A 292188
SPROTT PHYSICAL GOLD TRUS PHYS 3.11 14816600 BBG000Q83F79 525972
ISHARES MSCI EMR MRK EX CHNA EMXC 3.11 14843500 BBG00H5VLMJ6 220296
iM DBi Managed Futures Strategy ETF DBMF 3.05 14530200 N/A 536763
SCHWAB U.S. TIPS ETF SCHP 2.96 14093500 BBG000BGN6P5 520632
NVIDIA CORP NVDA 2.48 11834100 BBG000BBJQV0 69494
MICROSOFT CORP MSFT 2.19 10441600 BBG000BPH459 20473
APPLE INC AAPL 2.06 9829420 BBG000B9XRY4 41129
ISHARES MSCI GLOBAL METALS & PICK 2.03 9654640 BBG002GKR8T5 226901
Franklin FTSE Japan ETF FLJP 2.02 9649210 BBG00J3MDY16 275613
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.95 9311030 BBG01922X0X9 186407
Franklin FTSE Europe ETF FLEE 1.95 9313890 BBG00J3PR1S7 269253
Broadcom Inc. AVGO 1.56 7447850 BBG00KHY5S69 21515
AMAZON.COM INC AMZN 1.43 6826300 BBG000BVPV84 29472
INVESCO OPTIMUM YIELD DIVERS PDBC 0.99 4728190 N/A 351277
META PLATFORMS INC META 0.99 4708590 BBG000MM2P62 6070
VANGUARD SMALL-CAP ETF VB 0.99 4710670 BBG000HT3Z79 18445
Tesla Inc. TSLA 0.93 4436610 BBG000N9MNX3 10418
ALPHABET INC-CL A GOOGL 0.82 3919370 BBG009S39JX6 15707
ALPHABET INC-CL C GOOG 0.77 3685790 BBG009S3NB30 14752
NETFLIX INC NFLX 0.75 3598280 BBG000CL9VN6 2929
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.74 3507790 BBG00CMNZNK7 3507790
COSTCO WHOLESALE CORP COST 0.61 2890050 BBG000F6H8W8 3001
Palantir Technologies Inc. Class A PLTR 0.54 2596830 BBG000N7QR55 15427
AUTOMATIC DATA PROCESSING ADP 0.44 2105280 BBG000JG0547 7291
T-MOBILE US INC TMUS 0.38 1817430 BBG000NDV1D4 7590
ADVANCED MICRO DEVICES INC AMD 0.38 1806470 BBG000BBQCY0 11350
CISCO SYSTEMS INC CSCO 0.37 1785710 BBG000C3J3C9 26369
LINDE PLC LIN 0.32 1533150 BBG01FND0CC1 3195
REALTY INCOME CORP O 0.32 1512810 BBG000DHPN63 25336
CLOROX COMPANY CLX 0.31 1468560 BBG000BFS7D3 11711
ABBVIE INC ABBV 0.31 1477660 BBG0025Y4RY4 6692
C.H. ROBINSON WORLDWIDE INC CHRW 0.31 1473970 BBG000BTCH57 10911
MEDTRONIC PLC MDT 0.30 1445560 BBG000BNWG87 15284
STANLEY BLACK & DECKER INC SWK 0.30 1446490 BBG000BTQR96 18502
T ROWE PRICE GROUP INC TROW 0.29 1363600 BBG000BVMPN3 13004
ILLINOIS TOOL WORKS ITW 0.29 1369880 BBG000BMBL90 5219
AMCOR PLC AMCR 0.28 1342970 BBG00LNJRQ09 162194
HORMEL FOODS CORP HRL 0.28 1347920 BBG000BLF8D2 54155
PPG INDUSTRIES INC PPG 0.28 1344010 BBG000BRJ809 12433
PEPSICO INC PEP 0.27 1291410 BBG000DH7JK6 9144
TARGET CORP TGT 0.27 1266100 BBG000H8TVT2 14237
FRANKLIN RESOURCES INC BEN 0.27 1303970 BBG000BD0TF8 53861
KENVUE INC KVUE 0.26 1238540 BBG01C79X561 67532
APPLOVIN CORP APP 0.26 1257000 BBG006HFPX77 2072
BOOKING HOLDINGS INC BKNG 0.26 1232920 BBG000BLBVN4 222
MICRON TECHNOLOGY INC MU 0.26 1217040 BBG000C5Z1S3 7607
QUALCOMM INC QCOM 0.26 1226230 BBG000CGC1X8 7420
INTUIT INC INTU 0.26 1221320 BBG000BH5DV1 1843
SHOPIFY INC - CLASS A SHOP 0.25 1204250 BBG008HBD923 8144
International Business Machines Corporation IBM 0.25 1211980 BBG000BLNNH6 4678
LAM RESH CORP LRCX 0.23 1084670 BBG000BNFLM9 8898
TEXAS INSTRUMENTS INC TXN 0.23 1090630 BBG000BVV7G1 6049
INTUITIVE SURGICAL INC ISRG 0.22 1032980 BBG000BJPDZ1 2382
ADOBE SYSTEMS INC ADBE 0.22 1029730 BBG000BB5006 2844
APPLIED MATERIALS INC AMAT 0.20 976509 BBG000BBPFB9 5482
AMGEN INC AMGN 0.20 965331 BBG000BBS2Y0 3514
HONEYWELL INTERNATIONAL INC HON 0.19 908107 BBG000H556T9 4290
KLA CORPORATION KLAC 0.19 902761 BBG000BMTFR4 912
PALO ALTO NETWORKS INC PANW 0.19 906728 BBG0014GJCT9 4464
GILEAD SCIENCES INC GILD 0.19 912225 BBG000CKGBP2 8126
MERCADOLIBRE INC MELI 0.18 836641 BBG000GQPB11 342
GENUINE PARTS CO GPC 0.17 826191 BBG000BKL348 5934
COMCAST CORP-CLASS A CMCSA 0.17 796805 BBG000BFT2L4 24570
CINCINNATI FINANCIAL CORP CINF 0.17 824923 BBG000BFPK65 5340
ANALOG DEVICES INC ADI 0.17 827143 BBG000BB6G37 3358
CHEVRON CORP CVX 0.17 818220 BBG000K4ND22 5111
CONSOLIDATED EDISON INC ED 0.17 797132 BBG000BHLYS1 8269
EVERSOURCE ENERGY ES 0.17 801948 BBG000BQ87N0 12669
MCDONALDS CORP MCD 0.17 808170 BBG000BNSZP1 2650
Crowdstrike Holdings Inc. Class A CRWD 0.16 781407 BBG00BLYKS03 1754
CONSTELLATION ENERGY CORPORATION CEG 0.15 700380 BBG014KFRNP7 2180
DOORDASH INC CLASS A DASH 0.15 696346 BBG005D7QCJ3 2686
INTEL CORP INTC 0.15 734600 BBG000C0G1D1 29502
Kimberly-Clark Corp KMB 0.15 729301 BBG000BMW2Z0 5807
VERTEX PHARMACEUTICALS INC VRTX 0.14 668221 BBG000C1S2X2 1726
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.13 617119 BBG00LBLDDR2 4576
STARBUCKS CORP SBUX 0.13 630558 BBG000CTQBF3 7577
WELLTOWER INC WELL 0.13 598769 BBG000BKY1G5 3609
OREILLY AUTOMOTIVE INC ORLY 0.13 605240 BBG000BGYWY6 5789
CADENCE DESIGN SYS INC CDNS 0.13 626128 BBG000C13CD9 1803
PROLOGIS INC PLD 0.12 561933 BBG000B9Z0J8 4934
MICROSTRATEGY INC-CL A MSTR 0.12 581279 BBG000GQJPZ0 1763
THOMSON REUTERS CORP COMMON STOCK TRI 0.11 514568 N/A 3041
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 507152 BBG00ZXBJ153 7145
ASML HOLDING NV-NY REG SHS ASML 0.11 503300 BBG000K6MRN4 577
MONDELEZ INTERNATIONAL INC-A MDLZ 0.11 547878 BBG000D4LWF6 8720
CINTAS CORP CTAS 0.11 534347 BBG000H3YXF8 2672
Marriott International, Inc Class A MAR 0.10 488723 BBG000BGD7W6 1865
AXON ENTERPRISE INC AXON 0.09 411992 BBG000BHJWG1 548
SYNOPSYS INC SNPS 0.09 428803 BBG000BSFRF3 1008
AUTODESK INC ADSK 0.09 415383 BBG000BM7HL0 1301
FORTINET INC FTNT 0.09 411004 BBG000BCMBG4 5119
MONSTER BEVERAGE CORP MNST 0.09 437236 BBG008NVB1C0 6573
PAYPAL HOLDINGS INC PYPL 0.09 446304 BBG0077VNXV6 6504
EQUINIX INC EQIX 0.09 411975 BBG000MBDGM6 529
CSX CORP CSX 0.09 411427 BBG000BGJRC8 12555
NXP Semiconductors NV NXPI 0.08 375882 BBG000BND699 1694
FASTENAL CO FAST 0.08 369327 BBG000BJ8YN7 7838
AMERICAN ELECTRIC POWER AEP 0.08 393201 BBG000BB9KF2 3657
ROPER TECHNOLOGIES INC ROP 0.08 366948 BBG000F1ZSN5 720
PACCAR INC PCAR 0.08 363197 BBG000BQVTF5 3601
REGENERON PHARMACEUTICALS REGN 0.08 381160 BBG000C734W3 651
Warner Bros Discovery Inc WBD 0.07 318045 BBG011386VF4 17679
AIRBNB INC ABNB 0.07 355678 BBG001Y2XS07 2887
WORKDAY INC-CLASS A WDAY 0.07 333530 BBG000VC0T95 1420
PAYCHEX INC PAYX 0.07 321745 BBG000BQSQ38 2429
IDEXX LABS IDXX 0.07 346064 BBG000BLRT07 540
DIGITAL REALTY TRUST INC DLR 0.07 333400 BBG000Q5ZRM7 1948
ROSS STORES INC ROST 0.07 323239 BBG000BSBZH7 2204
SIMON PROPERTY GROUP INC SPG 0.07 328442 BBG000BJ2D31 1809
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.07 310895 BBG000BS1YV5 1241
Datadog Inc. Class A DDOG 0.06 292890 BBG003NJHZT9 2182
Baker Hughes Company BKR 0.06 309092 BBG00GBVBK51 6650
Zscaler Inc. ZS 0.06 280857 BBG003338H34 1005
COPART INC CPRT 0.06 304522 BBG000BM9RH1 6532
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 281970 BBG00B6BFWH9 3115
PUBLIC STORAGE PSA 0.06 270208 BBG000BPPN67 951
ASTRAZENECA PLC-SPONS ADR AZN 0.06 306720 BBG000BZ0DK8 3948
EXELON CORP EXC 0.06 294094 BBG000J6XT05 6803
XCEL ENERGY INC XEL 0.06 282940 BBG000BCTQ65 3927
DIAMONDBACK ENERGY INC FANG 0.06 272512 BBG002PHSYX9 1940
ELECTRONIC ARTS INC EA 0.06 296665 BBG000BP0KQ8 1709
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.05 231729 BBG01BFR8YV1 3024
KEURIG DR PEPPER INC KDP 0.05 251692 BBG000TJM7F0 9233
VICI PROPERTIES INC REIT VICI 0.05 221674 BBG00HVVB499 6895
VERISK ANALYTICS INC VRSK 0.05 229964 BBG000BCZL41 921
COSTAR GROUP INC CSGP 0.05 252802 BBG000D7JKW9 2877
MICROCHIP TECHNOLOGY INC MCHP 0.05 238979 BBG000BHCP19 3633
COGNIZANT TECH SOLUTIONS-A CTSH 0.05 225847 BBG000BBDV81 3225
CHARTER COMMUNICATIONS INC-A CHTR 0.05 253011 BBG000VPGNR2 944
ATLASSIAN CORP PLC-CLASS A TEAM 0.04 191714 BBG01BGWHFR5 1113
Old Dominion Freight Line Inc. ODFL 0.04 194111 BBG000CHSS88 1369
EXTRA SPACE STORAGE INC EXR 0.04 185991 BBG000PV27K3 1299
Ventas Inc. VTR 0.04 184646 BBG000FRVHB9 2742
AVALONBAY COMMUNITIES INC AVB 0.04 182913 BBG000BLPBL5 950
IRON MOUNTAIN INC IRM 0.04 196175 BBG000KCZPC3 1972
KRAFT HEINZ CO/THE KHC 0.04 200668 BBG005CPNTQ2 7799
DEXCOM INC DXCM 0.04 201114 BBG000QTF8K1 2631
AO Smith Corp AOS 0.04 183604 BBG000BC1L02 2511
ARM HOLDINGS PLC ARM 0.03 137880 BBG01J1GXZF0 899
GLOBALFOUNDRIES INC GFS 0.03 119494 BBG000C2L5G9 3711
INVITATION HOMES INC REIT USD.01 INVH 0.03 132846 BBG00FQH6BS9 4482
TRADE DESK INC/THE -CLASS A TTD 0.03 133025 BBG00629NGT2 2932
CDW CORP/DE CDW 0.03 148052 BBG001P63B80 885
EQUITY RESIDENTIAL EQR 0.03 136563 BBG000BG8M31 2113
BIOGEN INC BIIB 0.03 143132 BBG000C17X76 988
ON Semiconductor Corporation ON 0.02 112199 BBG000DV7MX4 2253
LULULEMON ATHLETICA INC LULU 0.02 109368 BBG000R8ZVD1 669
Sun Communities Inc SUI 0.02 94931.9 BBG000BLJWF3 739
MID-AMERICA APARTMENT COMM MAA 0.02 88614.2 BBG000BLMY92 635
ESSEX PROPERTY TRUST INC ESS 0.02 91050.7 BBG000CGJMB9 342
Alexandria Real Estate Equitie ARE 0.02 94590.5 BBG000BC33T9 1111
KIMCO REALTY CORP KIM 0.02 91004.7 BBG000CN3S73 4146
W. P. CAREY REIT INC WPC 0.02 93213.7 BBG000BCQM58 1372
AIR PRODUCTS & CHEMICALS INC APD 0.02 106661 BBG000BC4JJ4 367
Cash & Other Cash&Other -0.73 -3491730 N/A -3491730

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.