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 10/12/2026
TICKER RAA
NET ASSETS $616M
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 $30.36
30 DAY MEDIAN BID-ASK SPREAD 0.000667

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 10/12/2026

NET ASSET VALUE

$30.36

CLOSING PRICE

$30.36

PREMIUM/DISCOUNT

0.02%
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 2
Discount 16 8 14 21 5

Asset Allocation

As of 10/12/2026

Equities

41.92%
Nasdaq
17.86%
US Large Cap
15.09%
US Small Cap
2.98%
Dividend Payers
2.09%
Emerging Ex. China
1.95%
Japan
0.98%
Europe
0.97%

Fixed Income

28.74%
Long Term Treasuries
7.92%
High Yield
5.94%
Corporate Bonds
5.93%
Emerging Mkt Bonds
3.95%
TIPS
2.97%
T-Bills
2.03%

Alternatives

29.34%
Commodities
10.14%
Energy
5.23%
Managed Futures
5.02%
Miners
4.00%
Real Estate
2.00%
Gold
1.98%
Bitcoin
0.97%

Holdings

As of 10/12/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.09 93028500 BBG00RYR67P4 1868420
INVESCO OPTIMUM YIELD DIVERS PDBC 10.14 62470400 N/A 3145540
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 7.92 48815900 BBG00PZFJPC3 1711640
SCHWAB HIGH YIELD BOND ETF SCYB 5.94 36597500 BBG01F80WX71 1451700
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 36547400 BBG000PWYVH7 465572
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.95 24328000 BBG000NXKWH0 267106
iM DBi Managed Futures Strategy ETF DBMF 3.55 21889900 N/A 657156
Vanguard Morningstar Small-Cap ETF VB 2.98 18365900 BBG000HT3Z79 63735
SCHWAB U.S. TIPS ETF SCHP 2.97 18291700 BBG000BGN6P5 725574
SPROTT PHYSICAL GOLD TRUS PHYS 1.98 12221600 BBG000Q83F79 388235
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 12171200 BBG01922X0X9 243814
ISHARES MSCI EMR MRK EX CHNA EMXC 1.95 12023700 BBG00H5VLMJ6 122628
Simplify DBi CTA Managed Futures Index ETF SDMF 1.47 9082050 BBG020BR8WR7 327340
NVIDIA CORP NVDA 1.45 8953450 BBG000BBJQV0 39561
APPLE INC AAPL 1.31 8079280 BBG000B9XRY4 23695
MICROSOFT CORP MSFT 1.07 6564690 BBG000BPH459 12131
Franklin FTSE Japan ETF FLJP 0.98 6041510 BBG00J3MDY16 145895
Franklin FTSE Europe ETF FLEE 0.97 6004900 BBG00J3PR1S7 160430
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.97 5973770 N/A 163307
BHP GROUP LTD BHP 0.86 5274570 BBG000BD5NZ4 60823
MICRON TECHNOLOGY INC MU 0.83 5103450 BBG000C5Z1S3 5160
AMAZON.COM INC AMZN 0.74 4579410 BBG000BVPV84 17645
ADVANCED MICRO DEVICES INC AMD 0.72 4416390 BBG000BBQCY0 7432
META PLATFORMS INC META 0.60 3698460 BBG000MM2P62 4978
CHEVRON CORP CVX 0.58 3578680 BBG000K4ND22 16645
MARATHON PETROLEUM CORP MPC 0.57 3497510 BBG001DCCGR8 7623
OCCIDENTAL PETROLEUM CORP OXY 0.55 3369240 BBG000BQQ2S6 55116
EQT CORP EQT 0.54 3300760 BBG000BHZ5J9 62021
WILLIAMS COMPANIES INC. WMB 0.54 3329490 BBG000BWVCP8 44890
ALPHABET INC-CL A GOOGL 0.54 3343080 BBG009S39JX6 9478
Tesla Inc. TSLA 0.53 3280540 BBG000N9MNX3 8678
Suncor Energy Inc. SU 0.53 3255100 BBG000BC1LY5 44281
CANADIAN NATURAL RESOURCES CNQ 0.52 3213670 BBG000HW5GX3 63637
Cheniere Energy Inc LNG 0.52 3209090 BBG000C3HSR0 11360
SPACE EXPLORATION TECH CORP A SPCX 0.52 3194210 BBG000NQF3Z5 19546
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.52 3201650 BBG023CY9MM1 18598
ALPHABET INC-CL C GOOG 0.51 3114910 BBG009S3NB30 8926
SCHLUMBERGER LTD SLB 0.49 3017110 BBG000BT41Q8 61864
NEWMONT GOLDCORP CORPORATION COM NEM 0.48 2944210 BBG000BPWXK1 25132
Broadcom Inc. AVGO 0.47 2886790 BBG00KHY5S69 8138
WAL-MART STORES INC WMT 0.42 2603330 BBG000BWXBC2 23022
FREEPORT-MCMORAN INC FCX 0.40 2437850 BBG000BJDB15 33263
INTEL CORP INTC 0.38 2352940 BBG000C0G1D1 23216
RIO TINTO PLC-SPON ADR RIO 0.38 2347130 BBG000FD28T3 24890
AGNICO EAGLE MINES LTD AEM 0.36 2232190 BBG000DLVDK3 11862
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.35 2169840 BBG000N7QR55 10382
CISCO SYSTEMS INC CSCO 0.33 2058820 BBG000C3J3C9 17850
COSTCO WHOLESALE CORP COST 0.33 2029220 BBG000F6H8W8 2115
APPLIED MATERIALS INC AMAT 0.30 1826430 BBG000BBPFB9 3671
LAM RESH CORP LRCX 0.29 1768210 BBG000BNFLM9 5712
GLENCORE PLC -UNSP ADR GLNCY 0.27 1659350 BBG001VKX1Z1 107680
WELLTOWER INC WELL 0.27 1681120 BBG000BKY1G5 7300
Barrick Mining Corp. B 0.26 1585020 N/A 38820
PALO ALTO NETWORKS INC PANW 0.24 1455400 BBG0014GJCT9 3604
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1435650 BBG000PVRDL2 10395
NETFLIX INC NFLX 0.22 1353660 BBG000CL9VN6 19171
PROLOGIS INC PLD 0.22 1373710 BBG000B9Z0J8 10370
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1374810 N/A 49801
NUCOR CORP NUE 0.21 1287610 BBG000BQ8KV2 5113
TEXAS INSTRUMENTS INC TXN 0.20 1217400 BBG000BVV7G1 4321
REALTY INCOME CORP O 0.20 1219970 BBG000DHPN63 22303
Crowdstrike Holdings Inc. Class A CRWD 0.20 1210900 BBG00BLYKS03 4604
EQUINIX INC EQIX 0.19 1178200 BBG000MBDGM6 1141
PEPSICO INC PEP 0.19 1152910 BBG000DH7JK6 9101
KLA CORPORATION KLAC 0.19 1193000 BBG000BMTFR4 6275
AUTOMATIC DATA PROCESSING ADP 0.18 1133030 BBG000JG0547 4138
FRANCO-NEVADA CORP FNV 0.17 1072940 BBG000TRN6Z1 4366
AMGEN INC AMGN 0.17 1076080 BBG000BBS2Y0 2577
LINDE PLC LIN 0.17 1071680 BBG01FND0CC1 2199
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.17 1061580 BBG00ZXBJ153 3993
VALE SA-SP ADR VALE 0.16 983256 BBG000BN5LG7 72726
SHOPIFY INC - CLASS A SHOP 0.16 975674 BBG004DW5NB8 5444
SANDISK CORP/DE SNDKV SNDK 0.16 960815 BBG01R388JG1 646
ANALOG DEVICES INC ADI 0.15 935582 BBG000BB6G37 2303
QUALCOMM INC QCOM 0.14 846160 BBG000CGC1X8 4851
GILEAD SCIENCES INC GILD 0.14 889192 BBG000CKGBP2 5911
DIGITAL REALTY TRUST INC DLR 0.13 824232 BBG000Q5ZRM7 4575
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 803718 BBG0113JGQF0 1067
T-MOBILE US INC TMUS 0.13 791546 BBG000NDV1D4 5212
SIMON PROPERTY GROUP INC SPG 0.13 828198 BBG000BJ2D31 4112
PUBLIC STORAGE PSA 0.12 753977 BBG000BPPN67 2610
INTUITIVE SURGICAL INC ISRG 0.12 723139 BBG000BJPDZ1 1691
ASML HOLDING NV-NY REG SHS ASML 0.12 726350 BBG000K6MRN4 415
Vivmark Residential VMRK 0.12 726548 BBG000BG8M31 11862
Ventas Inc. VTR 0.12 711427 BBG000FRVHB9 8516
WESTERN DIGITAL CORP WDC 0.11 652381 BBG000BWNFZ9 1686
ABBVIE INC ABBV 0.11 658383 BBG0025Y4RY4 2342
FORTINET INC FTNT 0.11 661012 BBG000BCMBG4 3426
GENUINE PARTS CO GPC 0.10 595215 BBG000BKL348 4592
KENVUE INC KVUE 0.10 607629 BBG01C79X561 34079
AO Smith Corp AOS 0.10 598036 BBG000BC1L02 10566
Kimberly-Clark Corp KMB 0.10 609411 BBG000BMW2Z0 6170
MEDTRONIC PLC MDT 0.10 641763 BBG000BNWG87 6981
FRANKLIN RESOURCES INC BEN 0.10 601845 BBG000BD0TF8 18920
STANLEY BLACK & DECKER INC SWK 0.10 600160 BBG000BTQR96 6770
International Business Machines Corporation IBM 0.10 593430 BBG000BLNNH6 2614
CLOROX COMPANY CLX 0.10 632372 BBG000BFS7D3 7497
VERTEX PHARMACEUTICALS INC VRTX 0.10 609921 BBG000C1S2X2 1203
T ROWE PRICE GROUP INC TROW 0.10 606262 BBG000BVMPN3 5830
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 600166 N/A 14434
HORMEL FOODS CORP HRL 0.09 584386 BBG000BLF8D2 30745
IRON MOUNTAIN INC IRM 0.09 569515 BBG000KCZPC3 4948
EVERSOURCE ENERGY ES 0.09 523975 BBG000BQ87N0 7927
BOOKING HOLDINGS INC BKNG 0.09 544207 BBG000BLBVN4 3435
PPG INDUSTRIES INC PPG 0.08 497704 BBG000BRJ809 4799
ARM HOLDINGS PLC ARM 0.08 514564 BBG01J1GXZF0 2016
CONSTELLATION ENERGY CORPORATION CEG 0.08 506372 BBG014KFRNP7 1723
Marriott International, Inc Class A MAR 0.08 473443 BBG000BGD7W6 1282
ILLINOIS TOOL WORKS ITW 0.08 523327 BBG000BMBL90 1974
EXTRA SPACE STORAGE INC EXR 0.08 463545 BBG000PV27K3 3458
STARBUCKS CORP SBUX 0.08 508583 BBG000CTQBF3 5511
CADENCE DESIGN SYS INC CDNS 0.07 434131 BBG000C13CD9 1246
MONSTER BEVERAGE CORP MNST 0.07 417645 BBG008NVB1C0 9544
MERCADOLIBRE INC MELI 0.07 448508 BBG000GQPB11 237
ADOBE SYSTEMS INC ADBE 0.07 452466 BBG000BB5006 1900
CSX CORP CSX 0.07 430657 BBG000BGJRC8 9019
VICI PROPERTIES INC REIT VICI 0.07 412675 BBG00HVVB499 17919
SYNOPSYS INC SNPS 0.07 459294 BBG000BSFRF3 914
Datadog Inc. Class A DDOG 0.07 452769 BBG003NJHZT9 1576
LUMENTUM HOLDINGS INC LITE 0.07 420063 BBG0073F9RT7 422
Cash & Other Cash&Other 0.06 347993 N/A 347993
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 359196 BBG000BBTJZ1 1596
COMCAST CORP-CLASS A CMCSA 0.06 356813 BBG000BFT2L4 17254
ROSS STORES INC ROST 0.06 344406 BBG000BSBZH7 1525
REGENERON PHARMACEUTICALS REGN 0.06 361572 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 381293 BBG005D7QCJ3 1963
INTUIT INC INTU 0.06 396869 BBG000BH5DV1 1297
APPLOVIN CORP APP 0.06 399804 BBG006HFPX77 1476
CINTAS CORP CTAS 0.06 396299 BBG000H3YXF8 1931
OREILLY AUTOMOTIVE INC ORLY 0.06 340361 BBG000BGYWY6 3928
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.06 397284 BBG00CMNZNK7 397284
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 380626 BBG000D4LWF6 6160
FASTENAL CO FAST 0.05 284482 BBG000BJ8YN7 5525
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 286273 BBG000C30L48 217
ESSEX PROPERTY TRUST INC ESS 0.05 285261 BBG000CGJMB9 1055
TERADYNE INC TER 0.05 281746 BBG000BV4DR6 734
AIRBNB INC ABNB 0.05 336320 BBG001Y2XS07 2057
AMERICAN ELECTRIC POWER AEP 0.05 325980 BBG000BB9KF2 2624
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 319491 BBG022XF4SZ9 1524
PACCAR INC PCAR 0.04 276164 BBG000BQVTF5 2554
XCEL ENERGY INC XEL 0.04 223400 BBG000BCTQ65 3012
PAYPAL HOLDINGS INC PYPL 0.04 238381 BBG0077VNXV6 4253
HOST HOTELS & RESORTS INC HST 0.04 260896 BBG000BL8804 11473
ASTERA LABS INC ALAB 0.04 243731 BBG00TDKHW99 752
Omega Healthcare Investors Inc OHI 0.04 224676 BBG000BGBTC2 4974
Baker Hughes Company BKR 0.04 257866 BBG00GBVBK51 4590
HEALTHPEAK PROPERTIES INC DOC 0.04 218816 BBG000BKYDP9 11547
MID-AMERICA APARTMENT COMM MAA 0.04 222106 BBG000BLMY92 1906
NXP Semiconductors NV NXPI 0.04 269126 BBG000BND699 1195
KIMCO REALTY CORP KIM 0.04 244114 BBG000CN3S73 10937
INVITATION HOMES INC REIT USD.01 INVH 0.04 264090 BBG00FQH6BS9 9891
Nebius Group NV NBIS 0.04 224554 BBG001NVJ6W4 1069
DIAMONDBACK ENERGY INC FANG 0.04 257350 BBG002PHSYX9 1319
AUTODESK INC ADSK 0.04 235642 BBG000BM7HL0 1009
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 260967 BBG00LBLDDR2 3225
MICROSTRATEGY INC-CL A MSTR 0.04 231616 BBG000GQJPZ0 1517
W. P. CAREY REIT INC WPC 0.04 240445 BBG000BCQM58 3740
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 224976 BBG00B6BFWH9 2141
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 238107 BBG020QYV152 1514
MICROCHIP TECHNOLOGY INC MCHP 0.03 192696 BBG000BHCP19 2610
ROPER TECHNOLOGIES INC ROP 0.03 164927 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 161628 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 179545 BBG000CHSS88 987
EXELON CORP EXC 0.03 207062 BBG000J6XT05 4916
IDEXX LABS IDXX 0.03 189666 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 197961 BBG000BS1YV5 948
KEURIG DR PEPPER INC KDP 0.03 215560 BBG000TJM7F0 6582
FERROVIAL SA FER 0.03 174321 BBG01H0DF657 3462.88
WORKDAY INC-CLASS A WDAY 0.03 185614 BBG000VC0T95 986
COREWEAVE INC CRWV 0.03 171275 BBG011ZTRJ21 2134
DEXCOM INC DXCM 0.03 159210 BBG000QTF8K1 1853
ROCKET LAB CORP RKLB 0.03 183265 BBG01V7JN3F3 2789
THOMSON REUTERS CORP TRI 0.03 190569 N/A 1828
PAYCHEX INC PAYX 0.03 179562 BBG000BQSQ38 1716
AIR PRODUCTS & CHEMICALS INC APD 0.02 122348 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 135930 BBG000B9ZXB4 1335
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 138482 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 147402 BBG01BFR8YV1 2176
COPART INC CPRT 0.02 116327 BBG000BM9RH1 4393
MCDONALDS CORP MCD 0.02 122538 BBG000BNSZP1 520
CONSOLIDATED EDISON INC ED 0.02 125853 BBG000BHLYS1 1174

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.