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 09/17/2026
TICKER RAA
NET ASSETS $608M
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 $30.18
30 DAY MEDIAN BID-ASK SPREAD 0.000981

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 09/17/2026

NET ASSET VALUE

$30.18

CLOSING PRICE

$30.19

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 27
Discount 13 16 8 14 19

Asset Allocation

As of 9/17/2026

Equities

45.84%
Nasdaq
17.02%
US Large Cap
15.04%
Dividend Payers
5.82%
US Small Cap
3.92%
Emerging Ex. China
2.03%
Japan
1.03%
Europe
0.98%

Fixed Income

24.95%
Corporate Bonds
6.95%
High Yield
5.96%
Emerging Mkt Bonds
3.98%
TIPS
3.97%
Long Term Treasuries
2.99%
T-Bills
1.10%

Alternatives

29.21%
Commodities
7.44%
Managed Futures
5.13%
Energy
5.03%
Gold
3.91%
Miners
3.84%
Real Estate
2.88%
Bitcoin
0.98%

Holdings

As of 09/17/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.04 91460600 BBG00RYR67P4 1875340
INVESCO OPTIMUM YIELD DIVERS PDBC 7.44 45213000 N/A 2293910
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.95 42270900 BBG000PWYVH7 528519
SCHWAB HIGH YIELD BOND ETF SCYB 5.96 36225700 BBG01F80WX71 1408460
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 24198500 BBG000NXKWH0 258365
SCHWAB U.S. TIPS ETF SCHP 3.97 24147000 BBG000BGN6P5 945460
Vanguard Morningstar Small-Cap ETF VB 3.92 23839500 BBG000HT3Z79 81948
SPROTT PHYSICAL GOLD TRUS PHYS 3.91 23752600 BBG000Q83F79 723944
iM DBi Managed Futures Strategy ETF DBMF 3.69 22450400 N/A 701138
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.99 18205100 BBG00PZFJPC3 611731
ISHARES MSCI EMR MRK EX CHNA EMXC 2.03 12369800 BBG00H5VLMJ6 124658
Simplify DBi CTA Managed Futures Index ETF SDMF 1.44 8735190 BBG020BR8WR7 327826
NVIDIA CORP NVDA 1.43 8695950 BBG000BBJQV0 39646
APPLE INC AAPL 1.36 8288850 BBG000B9XRY4 24596
Franklin FTSE Japan ETF FLJP 1.03 6247250 BBG00J3MDY16 149922
MICROSOFT CORP MSFT 1.02 6179070 BBG000BPH459 12414
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 6128190 BBG01922X0X9 122711
Franklin FTSE Europe ETF FLEE 0.98 5963580 BBG00J3PR1S7 153562
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.98 5942580 N/A 175712
MICRON TECHNOLOGY INC MU 0.81 4923670 BBG000C5Z1S3 5037
BHP GROUP LTD BHP 0.80 4890290 BBG000BD5NZ4 56496
AMAZON.COM INC AMZN 0.75 4576180 BBG000BVPV84 18218
CHEVRON CORP CVX 0.70 4229280 BBG000K4ND22 19990
ADVANCED MICRO DEVICES INC AMD 0.66 4028760 BBG000BBQCY0 7391
MARATHON PETROLEUM CORP MPC 0.57 3455430 BBG001DCCGR8 8189
ALPHABET INC-CL A GOOGL 0.57 3441000 BBG009S39JX6 9907
META PLATFORMS INC META 0.55 3331040 BBG000MM2P62 4882
Suncor Energy Inc. SU 0.53 3205500 BBG000BC1LY5 46129
ALPHABET INC-CL C GOOG 0.52 3191070 BBG009S3NB30 9285
CANADIAN NATURAL RESOURCES CNQ 0.51 3120010 BBG000HW5GX3 61636
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.51 3108990 BBG023CY9MM1 19042
OCCIDENTAL PETROLEUM CORP OXY 0.50 3031440 BBG000BQQ2S6 51129
WILLIAMS COMPANIES INC. WMB 0.48 2935230 BBG000BWVCP8 40875
EQT CORP EQT 0.47 2840800 BBG000BHZ5J9 56421
Tesla Inc. TSLA 0.47 2884920 BBG000N9MNX3 7878
Cheniere Energy Inc LNG 0.46 2826140 BBG000C3HSR0 10473
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2789450 BBG000BPWXK1 22425
Broadcom Inc. AVGO 0.45 2712410 BBG00KHY5S69 7810
SCHLUMBERGER LTD SLB 0.43 2631030 BBG000BT41Q8 50519
INTEL CORP INTC 0.41 2495650 BBG000C0G1D1 22938
WELLTOWER INC WELL 0.41 2481230 BBG000BKY1G5 10683
REALTY INCOME CORP O 0.40 2454730 BBG000DHPN63 42825
WAL-MART STORES INC WMT 0.39 2354290 BBG000BWXBC2 22046
RIO TINTO PLC-SPON ADR RIO 0.38 2337470 BBG000FD28T3 23842
AUTOMATIC DATA PROCESSING ADP 0.37 2245440 BBG000JG0547 8248
FREEPORT-MCMORAN INC FCX 0.36 2178350 BBG000BJDB15 30746
AGNICO EAGLE MINES LTD AEM 0.34 2071690 BBG000DLVDK3 10288
CISCO SYSTEMS INC CSCO 0.33 1980570 BBG000C3J3C9 17966
PROLOGIS INC PLD 0.33 2020670 BBG000B9Z0J8 14948
MEDTRONIC PLC MDT 0.31 1874330 BBG000BNWG87 20204
PEPSICO INC PEP 0.30 1842770 BBG000DH7JK6 13787
COSTCO WHOLESALE CORP COST 0.30 1826300 BBG000F6H8W8 2043
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.30 1847880 BBG000N7QR55 10485
KENVUE INC KVUE 0.29 1734610 BBG01C79X561 97068
AO Smith Corp AOS 0.29 1752130 BBG000BC1L02 30777
HORMEL FOODS CORP HRL 0.29 1744340 BBG000BLF8D2 84024
FRANKLIN RESOURCES INC BEN 0.29 1777080 BBG000BD0TF8 53737
ILLINOIS TOOL WORKS ITW 0.29 1756470 BBG000BMBL90 6566
GENUINE PARTS CO GPC 0.28 1724870 BBG000BKL348 13179
EQUINIX INC EQIX 0.28 1688700 BBG000MBDGM6 1646
STANLEY BLACK & DECKER INC SWK 0.28 1702820 BBG000BTQR96 19107
T ROWE PRICE GROUP INC TROW 0.28 1705290 BBG000BVMPN3 16582
ABBVIE INC ABBV 0.28 1720880 BBG0025Y4RY4 6518
AMCOR PLC COMMON STOCK USD.01 AMCR 0.28 1687870 N/A 39827
Kimberly-Clark Corp KMB 0.27 1667270 BBG000BMW2Z0 16980
GLENCORE PLC -UNSP ADR GLNCY 0.27 1657850 BBG001VKX1Z1 107304
EVERSOURCE ENERGY ES 0.26 1551310 BBG000BQ87N0 22486
CLOROX COMPANY CLX 0.26 1586180 BBG000BFS7D3 18661
APPLIED MATERIALS INC AMAT 0.25 1524340 BBG000BBPFB9 3652
International Business Machines Corporation IBM 0.25 1502340 BBG000BLNNH6 6319
LAM RESH CORP LRCX 0.25 1532640 BBG000BNFLM9 5691
Barrick Mining Corp. B 0.25 1549600 N/A 35468
PPG INDUSTRIES INC PPG 0.24 1471450 BBG000BRJ809 13954
NETFLIX INC NFLX 0.24 1458450 BBG000CL9VN6 19366
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1424590 BBG000PVRDL2 9360
PALO ALTO NETWORKS INC PANW 0.22 1365970 BBG0014GJCT9 3642
SPACE EXPLORATION TECH CORP A SPCX 0.22 1340650 BBG000NQF3Z5 8660
NUCOR CORP NUE 0.21 1298390 BBG000BQ8KV2 4897
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1277530 N/A 47669
ERIE INDEMNITY COMPANY-CL A ERIE 0.19 1170870 BBG000BBTJZ1 4791
DIGITAL REALTY TRUST INC DLR 0.19 1184420 BBG000Q5ZRM7 6428
SIMON PROPERTY GROUP INC SPG 0.19 1182450 BBG000BJ2D31 5783
Vivmark Residential VMRK 0.19 1133290 BBG000BG8M31 17985.9
PUBLIC STORAGE PSA 0.18 1095370 BBG000BPPN67 3642
TEXAS INSTRUMENTS INC TXN 0.18 1068960 BBG000BVV7G1 4141
FRANCO-NEVADA CORP FNV 0.18 1115990 BBG000TRN6Z1 4186
Crowdstrike Holdings Inc. Class A CRWD 0.18 1086980 BBG00BLYKS03 4424
KLA CORPORATION KLAC 0.17 1017770 BBG000BMTFR4 6023
SANDISK CORP/DE SNDKV SNDK 0.17 1042900 BBG01R388JG1 646
Ventas Inc. VTR 0.17 1004370 BBG000FRVHB9 11451
LINDE PLC LIN 0.16 975187 BBG01FND0CC1 2127
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 991209 BBG00ZXBJ153 4117
AMGEN INC AMGN 0.15 937677 BBG000BBS2Y0 2469
VALE SA-SP ADR VALE 0.15 938886 BBG000BN5LG7 64885
QUALCOMM INC QCOM 0.14 881464 BBG000CGC1X8 4671
GILEAD SCIENCES INC GILD 0.14 853886 BBG000CKGBP2 5659
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 828027 BBG0113JGQF0 1031
T-MOBILE US INC TMUS 0.14 831584 BBG000NDV1D4 4996
IRON MOUNTAIN INC IRM 0.13 812136 BBG000KCZPC3 7124
ANALOG DEVICES INC ADI 0.13 809072 BBG000BB6G37 2231
SHOPIFY INC - CLASS A SHOP 0.12 739321 BBG004DW5NB8 5749
WESTERN DIGITAL CORP WDC 0.11 684126 BBG000BWNFZ9 1614
EXTRA SPACE STORAGE INC EXR 0.11 695845 BBG000PV27K3 5005
ASML HOLDING NV-NY REG SHS ASML 0.11 676313 BBG000K6MRN4 415
INTUITIVE SURGICAL INC ISRG 0.10 620951 BBG000BJPDZ1 1619
VERTEX PHARMACEUTICALS INC VRTX 0.10 602569 BBG000C1S2X2 1167
BOOKING HOLDINGS INC BKNG 0.10 617453 BBG000BLBVN4 3621
VICI PROPERTIES INC REIT VICI 0.10 616131 BBG00HVVB499 25555
FORTINET INC FTNT 0.09 566408 BBG000BCMBG4 3282
ROPER TECHNOLOGIES INC ROP 0.08 497307 BBG000F1ZSN5 1327
ARM HOLDINGS PLC ARM 0.08 514966 BBG01J1GXZF0 1944
ADOBE SYSTEMS INC ADBE 0.08 461881 BBG000BB5006 1828
STARBUCKS CORP SBUX 0.08 511868 BBG000CTQBF3 5295
APPLOVIN CORP APP 0.08 463104 BBG006HFPX77 1440
ESSEX PROPERTY TRUST INC ESS 0.07 410533 BBG000CGJMB9 1516
CONSTELLATION ENERGY CORPORATION CEG 0.07 433883 BBG014KFRNP7 1651
Marriott International, Inc Class A MAR 0.07 416164 BBG000BGD7W6 1246
MONSTER BEVERAGE CORP MNST 0.07 407177 BBG008NVB1C0 9148
MERCADOLIBRE INC MELI 0.07 432575 BBG000GQPB11 237
CSX CORP CSX 0.07 414574 BBG000BGJRC8 8655
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 366532 BBG000D4LWF6 5908
CADENCE DESIGN SYS INC CDNS 0.06 339720 BBG000C13CD9 1210
HOST HOTELS & RESORTS INC HST 0.06 355612 BBG000BL8804 16238
HEALTHPEAK PROPERTIES INC DOC 0.06 336528 BBG000BKYDP9 16416
AIR PRODUCTS & CHEMICALS INC APD 0.06 342486 BBG000BC4JJ4 1197
COMCAST CORP-CLASS A CMCSA 0.06 378702 BBG000BFT2L4 16530
ROSS STORES INC ROST 0.06 341696 BBG000BSBZH7 1489
KIMCO REALTY CORP KIM 0.06 350286 BBG000CN3S73 15520
REGENERON PHARMACEUTICALS REGN 0.06 374199 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 367913 BBG005D7QCJ3 1891
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 340221 BBG000B9ZXB4 3328
INTUIT INC INTU 0.06 394857 BBG000BH5DV1 1261
INVITATION HOMES INC REIT USD.01 INVH 0.06 380426 BBG00FQH6BS9 14012
MCDONALDS CORP MCD 0.06 344890 BBG000BNSZP1 1388
CINTAS CORP CTAS 0.06 368008 BBG000H3YXF8 1859
CONSOLIDATED EDISON INC ED 0.06 367927 BBG000BHLYS1 3436
SYNOPSYS INC SNPS 0.06 334667 BBG000BSFRF3 878
Datadog Inc. Class A DDOG 0.06 363440 BBG003NJHZT9 1540
W. P. CAREY REIT INC WPC 0.06 348033 BBG000BCQM58 5232
Cash & Other Cash&Other 0.05 281551 N/A 281551
PACCAR INC PCAR 0.05 287063 BBG000BQVTF5 2446
Sun Communities Inc SUI 0.05 332206 BBG000BLJWF3 2890
Warner Bros Discovery Inc WBD 0.05 327160 BBG011386VF4 11585
MID-AMERICA APARTMENT COMM MAA 0.05 332006 BBG000BLMY92 2740
AIRBNB INC ABNB 0.05 329371 BBG001Y2XS07 1985
OREILLY AUTOMOTIVE INC ORLY 0.05 321224 BBG000BGYWY6 3784
LUMENTUM HOLDINGS INC LITE 0.05 309189 BBG0073F9RT7 346
AMERICAN ELECTRIC POWER AEP 0.05 305996 BBG000BB9KF2 2516
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 307257 BBG022XF4SZ9 1488
XCEL ENERGY INC XEL 0.04 213822 BBG000BCTQ65 2904
PAYPAL HOLDINGS INC PYPL 0.04 215625 BBG0077VNXV6 4073
FASTENAL CO FAST 0.04 261097 BBG000BJ8YN7 5309
ASTERA LABS INC ALAB 0.04 220757 BBG00TDKHW99 752
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 253799 BBG000C30L48 217
Baker Hughes Company BKR 0.04 249452 BBG00GBVBK51 4410
TERADYNE INC TER 0.04 259197 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.04 264194 BBG000BND699 1159
Nebius Group NV NBIS 0.04 225184 BBG001NVJ6W4 1033
DIAMONDBACK ENERGY INC FANG 0.04 252674 BBG002PHSYX9 1283
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 242284 BBG00LBLDDR2 3117
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 247018 BBG020QYV152 1478
PAYCHEX INC PAYX 0.03 191542 BBG000BQSQ38 1644
MICROCHIP TECHNOLOGY INC MCHP 0.03 177192 BBG000BHCP19 2502
AXON ENTERPRISE INC AXON 0.03 176865 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 166511 BBG000CHSS88 951
EXELON CORP EXC 0.03 201772 BBG000J6XT05 4732
IDEXX LABS IDXX 0.03 183346 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 192085 BBG000BS1YV5 912
KEURIG DR PEPPER INC KDP 0.03 198826 BBG000TJM7F0 6326
FERROVIAL SA FER 0.03 181377 BBG01H0DF657 3318.88
WORKDAY INC-CLASS A WDAY 0.03 189316 BBG000VC0T95 950
COREWEAVE INC CRWV 0.03 164713 BBG011ZTRJ21 2062
DEXCOM INC DXCM 0.03 156603 BBG000QTF8K1 1781
AUTODESK INC ADSK 0.03 212737 BBG000BM7HL0 973
MICROSTRATEGY INC-CL A MSTR 0.03 195862 BBG000GQJPZ0 1481
ROCKET LAB CORP RKLB 0.03 181825 BBG01V7JN3F3 2681
THOMSON REUTERS CORP TRI 0.03 174687 N/A 1756
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 207893 BBG00B6BFWH9 2069
KRAFT HEINZ CO/THE KHC 0.02 134680 BBG005CPNTQ2 5446
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 149761 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 135592 BBG01BFR8YV1 2104
COPART INC CPRT 0.02 124958 BBG000BM9RH1 4213
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 92696.2 BBG00CMNZNK7 92696.2

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.