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 03/03/2026
TICKER RAA
NET ASSETS $544M
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 $28.38
30 DAY MEDIAN BID-ASK SPREAD 0.000702

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 03/03/2026

NET ASSET VALUE

$28.38

CLOSING PRICE

$28.40

PREMIUM/DISCOUNT

0.06%
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 25
Discount 0 5 13 16 5

Asset Allocation

As of 3/3/2026

Equities

44.81%
Nasdaq
18.14%
US Large Cap
15.10%
Dividend Payers
4.82%
US Small Cap
2.01%
Japan
1.90%
Emerging Ex. China
1.88%
Europe
0.96%

Fixed Income

31.56%
Corporate Bonds
9.03%
High Yield
8.03%
Emerging Mkt Bonds
5.00%
Long Term Treasuries
4.99%
TIPS
3.02%
T-Bills
1.49%

Alternatives

23.63%
Managed Futures
6.85%
Miners
4.77%
Gold
3.94%
Energy
3.91%
Commodities
2.10%
Real Estate
2.06%
Bitcoin
0.00%

Holdings

As of 03/03/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.10 82175500 BBG00RYR67P4 631876
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.03 49164300 BBG000PWYVH7 584593
SCHWAB HIGH YIELD BOND ETF SCYB 8.03 43710800 BBG01F80WX71 1665170
iM DBi Managed Futures Strategy ETF DBMF 6.85 37280200 N/A 1229560
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.00 27235400 BBG000NXKWH0 282086
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 4.99 27176600 BBG00PZFJPC3 839042
SPROTT PHYSICAL GOLD TRUS PHYS 3.94 21419200 BBG000Q83F79 551757
SCHWAB U.S. TIPS ETF SCHP 3.02 16461500 BBG000BGN6P5 612635
INVESCO OPTIMUM YIELD DIVERS PDBC 2.10 11434700 N/A 741549
VANGUARD SMALL-CAP ETF VB 2.01 10957800 BBG000HT3Z79 39989
Franklin FTSE Japan ETF FLJP 1.90 10364100 BBG00J3MDY16 278456
ISHARES MSCI EMR MRK EX CHNA EMXC 1.88 10237300 BBG00H5VLMJ6 125874
NVIDIA CORP NVDA 1.59 8674450 BBG000BBJQV0 48178
APPLE INC AAPL 1.41 7668800 BBG000B9XRY4 29076
ISHARES MSCI GLOBAL METALS & PICK 1.14 6202260 BBG002GKR8T5 102449
MICROSOFT CORP MSFT 1.09 5905460 BBG000BPH459 14620
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 5503650 BBG01922X0X9 110382
Franklin FTSE Europe ETF FLEE 0.96 5230200 BBG00J3PR1S7 139212
AMAZON.COM INC AMZN 0.79 4301930 BBG000BVPV84 20610
Tesla Inc. TSLA 0.71 3858370 BBG000N9MNX3 9832
META PLATFORMS INC META 0.70 3794880 BBG000MM2P62 5793
ALPHABET INC-CL A GOOGL 0.63 3407080 BBG009S39JX6 11223
WAL-MART STORES INC WMT 0.60 3241750 BBG000BWXBC2 25344
ALPHABET INC-CL C GOOG 0.58 3166130 BBG009S3NB30 10430
CHEVRON CORP CVX 0.57 3118860 BBG000K4ND22 16522
BHP GROUP LTD BHP 0.55 2973330 BBG000BD5NZ4 37959
Broadcom Inc. AVGO 0.53 2884500 BBG00KHY5S69 9191
ISHARES MSCI GLOBAL GOLD MIN RING 0.51 2777790 BBG002GKR6T9 30721
MARATHON PETROLEUM CORP MPC 0.44 2396010 BBG001DCCGR8 11303
COSTCO WHOLESALE CORP COST 0.43 2349110 BBG000F6H8W8 2331
Cheniere Energy Inc LNG 0.42 2311830 BBG000C3HSR0 9395
MICRON TECHNOLOGY INC MU 0.42 2299340 BBG000C5Z1S3 6056
CANADIAN NATURAL RESOURCES CNQ 0.41 2236020 BBG000HW5GX3 50669
OCCIDENTAL PETROLEUM CORP OXY 0.41 2252200 BBG000BQQ2S6 41956
EQT CORP EQT 0.41 2207060 BBG000BHZ5J9 35823
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.41 2219170 BBG000BRK7L6 39093
WILLIAMS COMPANIES INC. WMB 0.41 2233450 BBG000BWVCP8 29434
EXXON MOBIL CORP XOM 0.41 2214290 BBG000GZQ728 14584
SCHLUMBERGER LTD SLB 0.39 2096030 BBG000BT41Q8 43146
FREEPORT-MCMORAN INC FCX 0.39 2104670 BBG000BJDB15 32098
NEWMONT GOLDCORP CORPORATION COM NEM 0.37 1999430 BBG000BPWXK1 16870
NETFLIX INC NFLX 0.36 1960740 BBG000CL9VN6 20069
AGNICO EAGLE MINES LTD AEM 0.36 1963640 BBG000DLVDK3 8373
REALTY INCOME CORP O 0.35 1897290 BBG000DHPN63 28505
AUTOMATIC DATA PROCESSING ADP 0.34 1854520 BBG000JG0547 8575
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 1796530 BBG000N7QR55 12203
ADVANCED MICRO DEVICES INC AMD 0.31 1692200 BBG000BBQCY0 8862
CISCO SYSTEMS INC CSCO 0.30 1653580 BBG000C3J3C9 20942
RIO TINTO PLC-SPON ADR RIO 0.30 1655060 BBG000FD28T3 17365
APPLIED MATERIALS INC AMAT 0.28 1502950 BBG000BBPFB9 4278
WELLTOWER INC WELL 0.27 1469730 BBG000BKY1G5 7066
LAM RESH CORP LRCX 0.27 1467860 BBG000BNFLM9 6764
TARGET CORP TGT 0.27 1473400 BBG000H8TVT2 12197
FASTENAL CO FAST 0.26 1415470 BBG000BJ8YN7 30618
FRANKLIN RESOURCES INC BEN 0.26 1388470 BBG000BD0TF8 52395
ABBVIE INC ABBV 0.26 1401290 BBG0025Y4RY4 5992
ILLINOIS TOOL WORKS ITW 0.25 1359260 BBG000BMBL90 4753
EVERSOURCE ENERGY ES 0.25 1360310 BBG000BQ87N0 18203
T ROWE PRICE GROUP INC TROW 0.25 1374400 BBG000BVMPN3 14712
PROLOGIS INC PLD 0.25 1353740 BBG000B9Z0J8 9601
AMCOR PLC COMMON STOCK USD.01 AMCR 0.25 1339380 N/A 28394.8
KENVUE INC KVUE 0.24 1312700 BBG01C79X561 72325
Kimberly-Clark Corp KMB 0.24 1298060 BBG000BMW2Z0 12405
HORMEL FOODS CORP HRL 0.24 1315170 BBG000BLF8D2 53462
STANLEY BLACK & DECKER INC SWK 0.24 1313350 BBG000BTQR96 16089
Barrick Mining Corp. B 0.24 1313280 N/A 28334
T-MOBILE US INC TMUS 0.24 1281900 BBG000NDV1D4 5866
GENUINE PARTS CO GPC 0.23 1269680 BBG000BKL348 10906
AIR PRODUCTS & CHEMICALS INC APD 0.23 1231140 BBG000BC4JJ4 4509
LINDE PLC LIN 0.23 1233630 BBG01FND0CC1 2459
PEPSICO INC PEP 0.22 1185700 BBG000DH7JK6 7190
MEDTRONIC PLC MDT 0.21 1134120 BBG000BNWG87 11727
CLOROX COMPANY CLX 0.21 1155770 BBG000BFS7D3 9540
INTEL CORP INTC 0.20 1096510 BBG000C0G1D1 25441
FRANCO-NEVADA CORP FNV 0.20 1082700 BBG000RD3CL8 4126
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1077990 BBG000PVRDL2 7123
GLENCORE PLC -UNSP ADR GLNCY 0.19 1034430 BBG001VKX1Z1 73416
AMGEN INC AMGN 0.19 1058620 BBG000BBS2Y0 2808
KLA CORPORATION KLAC 0.19 1021920 BBG000BMTFR4 709
TEXAS INSTRUMENTS INC TXN 0.18 1001190 BBG000BVV7G1 4940
EQUINIX INC EQIX 0.18 996310 BBG000MBDGM6 1025
International Business Machines Corporation IBM 0.18 987497 BBG000BLNNH6 4026
INTUITIVE SURGICAL INC ISRG 0.17 945098 BBG000BJPDZ1 1900
VALE SA-SP ADR VALE 0.17 921309 BBG000BN5LG7 57690
GILEAD SCIENCES INC GILD 0.17 945816 BBG000CKGBP2 6398
ANALOG DEVICES INC ADI 0.16 890188 BBG000BB6G37 2626
HONEYWELL INTERNATIONAL INC HON 0.15 821043 BBG000H556T9 3367
SHOPIFY INC - CLASS A SHOP 0.15 838100 BBG008HBD923 6877
QUALCOMM INC QCOM 0.15 805298 BBG000CGC1X8 5830
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 832595 N/A 35490
SIMON PROPERTY GROUP INC SPG 0.14 761150 BBG000BJ2D31 3769
PALO ALTO NETWORKS INC PANW 0.13 683050 BBG0014GJCT9 4376
DIGITAL REALTY TRUST INC DLR 0.13 719823 BBG000Q5ZRM7 4041
BOOKING HOLDINGS INC BKNG 0.13 722773 BBG000BLBVN4 174
APPLOVIN CORP APP 0.13 730752 BBG006HFPX77 1665
PUBLIC STORAGE PSA 0.12 655446 BBG000BPPN67 2141
INTUIT INC INTU 0.12 630524 BBG000BH5DV1 1455
ASML HOLDING NV-NY REG SHS ASML 0.12 642364 BBG000K6MRN4 472
COMCAST CORP-CLASS A CMCSA 0.11 595144 BBG000BFT2L4 19192
CONSTELLATION ENERGY CORPORATION CEG 0.11 619852 BBG014KFRNP7 1908
VERTEX PHARMACEUTICALS INC VRTX 0.11 617025 BBG000C1S2X2 1301
ADOBE SYSTEMS INC ADBE 0.11 598075 BBG000BB5006 2207
STARBUCKS CORP SBUX 0.11 586461 BBG000CTQBF3 6066
Ventas Inc. VTR 0.10 548237 BBG000FRVHB9 6338
CINCINNATI FINANCIAL CORP CINF 0.10 562385 BBG000BFPK65 3337
Crowdstrike Holdings Inc. Class A CRWD 0.10 547205 BBG00BLYKS03 1398
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.10 566499 BBG00CMNZNK7 566499
Marriott International, Inc Class A MAR 0.09 500170 BBG000BGD7W6 1489
VICI PROPERTIES INC REIT VICI 0.09 495099 BBG00HVVB499 16394
Cash & Other Cash&Other 0.08 458045 N/A 458045
WESTERN DIGITAL CORP WDC 0.08 456862 BBG000BWNFZ9 1823
CADENCE DESIGN SYS INC CDNS 0.08 429600 BBG000C13CD9 1429
REGENERON PHARMACEUTICALS REGN 0.08 416296 BBG000C734W3 543
EXTRA SPACE STORAGE INC EXR 0.08 436550 BBG000PV27K3 2915
MERCADOLIBRE INC MELI 0.08 459355 BBG000GQPB11 268
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.08 413409 BBG0113JGQF0 1156
CINTAS CORP CTAS 0.08 425472 BBG000H3YXF8 2111
CSX CORP CSX 0.08 427027 BBG000BGJRC8 10010
SYNOPSYS INC SNPS 0.08 429836 BBG000BSFRF3 1013
OREILLY AUTOMOTIVE INC ORLY 0.08 411526 BBG000BGYWY6 4384
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 400811 BBG000D4LWF6 6820
Warner Bros Discovery Inc WBD 0.07 375088 BBG011386VF4 13301
IRON MOUNTAIN INC IRM 0.07 379278 BBG000KCZPC3 3519
EQUITY RESIDENTIAL EQR 0.07 381275 BBG000BG8M31 6079
DOORDASH INC CLASS A DASH 0.07 381099 BBG005D7QCJ3 2172
MONSTER BEVERAGE CORP MNST 0.07 407114 BBG008NVB1C0 5154
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 358251 BBG00ZXBJ153 4622
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 362657 BBG00LBLDDR2 3601
AVALONBAY COMMUNITIES INC AVB 0.07 385316 BBG000BLPBL5 2173
AMERICAN ELECTRIC POWER AEP 0.07 369112 BBG000BB9KF2 2798
PACCAR INC PCAR 0.06 340302 BBG000BQVTF5 2808
Baker Hughes Company BKR 0.06 322769 BBG00GBVBK51 5161
AIRBNB INC ABNB 0.06 304396 BBG001Y2XS07 2288
FORTINET INC FTNT 0.06 332672 BBG000BCMBG4 4102
ROSS STORES INC ROST 0.06 347649 BBG000BSBZH7 1759
XCEL ENERGY INC XEL 0.05 257577 BBG000BCTQ65 3097
AO Smith Corp AOS 0.05 270680 BBG000BC1L02 3579
EXELON CORP EXC 0.05 255277 BBG000J6XT05 5214
ESSEX PROPERTY TRUST INC ESS 0.05 272618 BBG000CGJMB9 1067
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 280411 BBG000C30L48 261
PPG INDUSTRIES INC PPG 0.05 266614 BBG000BRJ809 2256
IDEXX LABS IDXX 0.05 265656 BBG000BLRT07 418
NXP Semiconductors NV NXPI 0.05 294677 BBG000BND699 1369
MID-AMERICA APARTMENT COMM MAA 0.05 273151 BBG000BLMY92 2045
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 259643 N/A 2462
JOHNSON & JOHNSON JNJ 0.05 274633 BBG000BMHYD1 1113
INVITATION HOMES INC REIT USD.01 INVH 0.05 274600 BBG00FQH6BS9 10449
AUTODESK INC ADSK 0.05 276459 BBG000BM7HL0 1091
FERROVIAL SE FER 0.05 265133 BBG01H7CZ9S9 3852
CONSOLIDATED EDISON INC ED 0.05 298203 BBG000BHLYS1 2654
MCDONALDS CORP MCD 0.05 269390 BBG000BNSZP1 811
DIAMONDBACK ENERGY INC FANG 0.05 268070 BBG002PHSYX9 1510
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 256446 BBG00B6BFWH9 2437
ELECTRONIC ARTS INC EA 0.05 270641 BBG000BP0KQ8 1345
Sun Communities Inc SUI 0.04 221121 BBG000BLJWF3 1621
ROPER TECHNOLOGIES INC ROP 0.04 202920 BBG000F1ZSN5 570
MICROCHIP TECHNOLOGY INC MCHP 0.04 214456 BBG000BHCP19 3004
PAYPAL HOLDINGS INC PYPL 0.04 226853 BBG0077VNXV6 4906
AXON ENTERPRISE INC AXON 0.04 243797 BBG000BHJWG1 421
Old Dominion Freight Line Inc. ODFL 0.04 228000 BBG000CHSS88 1098
Omega Healthcare Investors Inc OHI 0.04 214092 BBG000BGBTC2 4511
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 214880 BBG000BS1YV5 990
KIMCO REALTY CORP KIM 0.04 218735 BBG000CN3S73 9296
KEURIG DR PEPPER INC KDP 0.04 214205 BBG000TJM7F0 7244
COPART INC CPRT 0.04 192669 BBG000BM9RH1 5007
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 217638 BBG000BFGNJ5 683
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 194622 BBG01BFR8YV1 2491
Datadog Inc. Class A DDOG 0.04 200292 BBG003NJHZT9 1792
MICROSTRATEGY INC-CL A MSTR 0.04 193182 BBG000GQJPZ0 1456
W. P. CAREY REIT INC WPC 0.04 215467 BBG000BCQM58 2920
INSMED INC INSM 0.03 168903 BBG000BWM5P3 1149
PAYCHEX INC PAYX 0.03 180226 BBG000BQSQ38 1886
KRAFT HEINZ CO/THE KHC 0.03 156655 BBG005CPNTQ2 6468
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 171659 BBG000BBDV81 2668
Zscaler Inc. ZS 0.03 150030 BBG003338H34 970
VERISK ANALYTICS INC VRSK 0.03 154190 BBG000BCZL41 718
CHARTER COMMUNICATIONS INC-A CHTR 0.03 156228 BBG000VPGNR2 681
WORKDAY INC-CLASS A WDAY 0.03 172476 BBG000VC0T95 1201
DEXCOM INC DXCM 0.03 159095 BBG000QTF8K1 2177
COSTAR GROUP INC CSGP 0.02 104974 BBG000D7JKW9 2244
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 74617.8 BBG01BGWHFR5 952
ASTRAZENECA PLC AZNCF 0.00 605.28 BBG000D3MHB4 3

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.