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 03/05/2026
TICKER RAA
NET ASSETS $548M
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 $28.35
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 03/05/2026

NET ASSET VALUE

$28.35

CLOSING PRICE

$28.36

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 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Premium 23 54 47 39 27
Discount 0 5 13 16 5

Asset Allocation

As of 3/5/2026

Equities

44.98%
Nasdaq
18.36%
US Large Cap
15.15%
Dividend Payers
4.79%
US Small Cap
1.99%
Japan
1.88%
Emerging Ex. China
1.86%
Europe
0.95%

Fixed Income

31.56%
Corporate Bonds
9.01%
High Yield
8.03%
Emerging Mkt Bonds
5.00%
Long Term Treasuries
4.96%
TIPS
3.02%
T-Bills
1.54%

Alternatives

23.46%
Managed Futures
6.84%
Miners
4.59%
Gold
3.92%
Energy
3.91%
Commodities
2.16%
Real Estate
2.04%
Bitcoin
0.00%

Holdings

As of 03/05/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.15 83008700 BBG00RYR67P4 636814
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.01 49395600 BBG000PWYVH7 589165
SCHWAB HIGH YIELD BOND ETF SCYB 8.03 44002400 BBG01F80WX71 1678200
iM DBi Managed Futures Strategy ETF DBMF 6.84 37485100 N/A 1239180
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.00 27399700 BBG000NXKWH0 284288
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 4.96 27186000 BBG00PZFJPC3 845600
SPROTT PHYSICAL GOLD TRUS PHYS 3.92 21469900 BBG000Q83F79 556071
SCHWAB U.S. TIPS ETF SCHP 3.02 16553100 BBG000BGN6P5 617423
INVESCO OPTIMUM YIELD DIVERS PDBC 2.16 11808100 N/A 747345
VANGUARD SMALL-CAP ETF VB 1.99 10926400 BBG000HT3Z79 40301
Franklin FTSE Japan ETF FLJP 1.88 10324500 BBG00J3MDY16 280634
ISHARES MSCI EMR MRK EX CHNA EMXC 1.86 10176500 BBG00H5VLMJ6 126858
NVIDIA CORP NVDA 1.62 8901160 BBG000BBJQV0 48550
APPLE INC AAPL 1.39 7625980 BBG000B9XRY4 29298
ISHARES MSCI GLOBAL METALS & PICK 1.11 6069890 BBG002GKR8T5 103247
MICROSOFT CORP MSFT 1.10 6050960 BBG000BPH459 14734
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 5547540 BBG01922X0X9 111240
Franklin FTSE Europe ETF FLEE 0.95 5207440 BBG00J3PR1S7 140298
AMAZON.COM INC AMZN 0.83 4546510 BBG000BVPV84 20766
Tesla Inc. TSLA 0.73 4016570 BBG000N9MNX3 9904
META PLATFORMS INC META 0.70 3854430 BBG000MM2P62 5835
ALPHABET INC-CL A GOOGL 0.62 3402050 BBG009S39JX6 11307
CHEVRON CORP CVX 0.58 3161460 BBG000K4ND22 16648
ALPHABET INC-CL C GOOG 0.58 3161960 BBG009S3NB30 10508
WAL-MART STORES INC WMT 0.57 3149580 BBG000BWXBC2 25542
Broadcom Inc. AVGO 0.56 3080450 BBG00KHY5S69 9257
BHP GROUP LTD BHP 0.52 2844450 BBG000BD5NZ4 38253
ISHARES MSCI GLOBAL GOLD MIN RING 0.49 2700420 BBG002GKR6T9 30961
MARATHON PETROLEUM CORP MPC 0.45 2475080 BBG001DCCGR8 11387
MICRON TECHNOLOGY INC MU 0.44 2421210 BBG000C5Z1S3 6098
Cheniere Energy Inc LNG 0.43 2362400 BBG000C3HSR0 9467
CANADIAN NATURAL RESOURCES CNQ 0.42 2314270 BBG000HW5GX3 51065
COSTCO WHOLESALE CORP COST 0.42 2308060 BBG000F6H8W8 2349
OCCIDENTAL PETROLEUM CORP OXY 0.41 2250990 BBG000BQQ2S6 42280
EQT CORP EQT 0.41 2226230 BBG000BHZ5J9 36099
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.41 2269430 BBG000BRK7L6 39393
WILLIAMS COMPANIES INC. WMB 0.40 2217830 BBG000BWVCP8 29662
EXXON MOBIL CORP XOM 0.40 2215870 BBG000GZQ728 14698
SCHLUMBERGER LTD SLB 0.38 2061050 BBG000BT41Q8 43482
NETFLIX INC NFLX 0.37 2005710 BBG000CL9VN6 20225
FREEPORT-MCMORAN INC FCX 0.37 2026680 BBG000BJDB15 32344
NEWMONT GOLDCORP CORPORATION COM NEM 0.36 1973070 BBG000BPWXK1 16996
AUTOMATIC DATA PROCESSING ADP 0.35 1924350 BBG000JG0547 8641
REALTY INCOME CORP O 0.34 1861510 BBG000DHPN63 28727
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 1876770 BBG000N7QR55 12293
AGNICO EAGLE MINES LTD AEM 0.34 1867830 BBG000DLVDK3 8433
ADVANCED MICRO DEVICES INC AMD 0.32 1780690 BBG000BBQCY0 8928
CISCO SYSTEMS INC CSCO 0.31 1688530 BBG000C3J3C9 21104
RIO TINTO PLC-SPON ADR RIO 0.29 1589250 BBG000FD28T3 17497
APPLIED MATERIALS INC AMAT 0.27 1492850 BBG000BBPFB9 4308
FASTENAL CO FAST 0.27 1459300 BBG000BJ8YN7 30852
WELLTOWER INC WELL 0.27 1459960 BBG000BKY1G5 7120
LAM RESH CORP LRCX 0.27 1462400 BBG000BNFLM9 6812
TARGET CORP TGT 0.27 1478860 BBG000H8TVT2 12287
FRANKLIN RESOURCES INC BEN 0.26 1421460 BBG000BD0TF8 52803
ABBVIE INC ABBV 0.26 1402000 BBG0025Y4RY4 6034
ILLINOIS TOOL WORKS ITW 0.25 1352940 BBG000BMBL90 4789
EVERSOURCE ENERGY ES 0.25 1354850 BBG000BQ87N0 18341
T ROWE PRICE GROUP INC TROW 0.25 1364580 BBG000BVMPN3 14826
KENVUE INC KVUE 0.24 1330220 BBG01C79X561 72889
Kimberly-Clark Corp KMB 0.24 1295480 BBG000BMW2Z0 12501
HORMEL FOODS CORP HRL 0.24 1303260 BBG000BLF8D2 53876
Barrick Mining Corp. B 0.24 1295030 N/A 28550
T-MOBILE US INC TMUS 0.24 1302950 BBG000NDV1D4 5908
PROLOGIS INC PLD 0.24 1333420 BBG000B9Z0J8 9673
GENUINE PARTS CO GPC 0.23 1275360 BBG000BKL348 10990
AIR PRODUCTS & CHEMICALS INC APD 0.23 1254350 BBG000BC4JJ4 4539
STANLEY BLACK & DECKER INC SWK 0.23 1263170 BBG000BTQR96 16209
AMCOR PLC COMMON STOCK USD.01 AMCR 0.23 1250270 N/A 28616.8
INTEL CORP INTC 0.22 1178110 BBG000C0G1D1 25639
LINDE PLC LIN 0.22 1213880 BBG01FND0CC1 2477
PEPSICO INC PEP 0.21 1153810 BBG000DH7JK6 7244
MEDTRONIC PLC MDT 0.20 1099100 BBG000BNWG87 11817
CLOROX COMPANY CLX 0.20 1092880 BBG000BFS7D3 9612
FRANCO-NEVADA CORP FNV 0.19 1061230 BBG000RD3CL8 4156
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1060980 BBG000PVRDL2 7177
AMGEN INC AMGN 0.19 1038840 BBG000BBS2Y0 2826
International Business Machines Corporation IBM 0.19 1040570 BBG000BLNNH6 4056
TEXAS INSTRUMENTS INC TXN 0.18 985148 BBG000BVV7G1 4976
GLENCORE PLC -UNSP ADR GLNCY 0.18 1012870 BBG001VKX1Z1 73986
EQUINIX INC EQIX 0.18 982543 BBG000MBDGM6 1031
KLA CORPORATION KLAC 0.18 1013420 BBG000BMTFR4 709
SHOPIFY INC - CLASS A SHOP 0.17 933421 BBG008HBD923 6925
INTUITIVE SURGICAL INC ISRG 0.17 949690 BBG000BJPDZ1 1912
GILEAD SCIENCES INC GILD 0.17 935572 BBG000CKGBP2 6446
VALE SA-SP ADR VALE 0.16 896519 BBG000BN5LG7 58140
APPLOVIN CORP APP 0.16 852855 BBG006HFPX77 1677
ANALOG DEVICES INC ADI 0.16 871780 BBG000BB6G37 2644
HONEYWELL INTERNATIONAL INC HON 0.15 808347 BBG000H556T9 3391
QUALCOMM INC QCOM 0.15 804464 BBG000CGC1X8 5872
BOOKING HOLDINGS INC BKNG 0.15 800884 BBG000BLBVN4 174
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 807954 N/A 35766
SIMON PROPERTY GROUP INC SPG 0.14 762507 BBG000BJ2D31 3793
PALO ALTO NETWORKS INC PANW 0.13 718883 BBG0014GJCT9 4406
DIGITAL REALTY TRUST INC DLR 0.13 731762 BBG000Q5ZRM7 4071
PUBLIC STORAGE PSA 0.12 660842 BBG000BPPN67 2153
CONSTELLATION ENERGY CORPORATION CEG 0.12 637574 BBG014KFRNP7 1920
INTUIT INC INTU 0.12 681980 BBG000BH5DV1 1461
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.12 646265 BBG00CMNZNK7 646265
ASML HOLDING NV-NY REG SHS ASML 0.12 645866 BBG000K6MRN4 472
Cash & Other Cash&Other 0.11 625096 N/A 625096
COMCAST CORP-CLASS A CMCSA 0.11 611207 BBG000BFT2L4 19342
VERTEX PHARMACEUTICALS INC VRTX 0.11 602292 BBG000C1S2X2 1307
ADOBE SYSTEMS INC ADBE 0.11 625181 BBG000BB5006 2219
STARBUCKS CORP SBUX 0.11 602798 BBG000CTQBF3 6108
Crowdstrike Holdings Inc. Class A CRWD 0.11 598329 BBG00BLYKS03 1404
Ventas Inc. VTR 0.10 542555 BBG000FRVHB9 6386
CINCINNATI FINANCIAL CORP CINF 0.10 559069 BBG000BFPK65 3361
WESTERN DIGITAL CORP WDC 0.09 475320 BBG000BWNFZ9 1835
Marriott International, Inc Class A MAR 0.09 497895 BBG000BGD7W6 1495
MERCADOLIBRE INC MELI 0.09 477136 BBG000GQPB11 268
VICI PROPERTIES INC REIT VICI 0.09 490479 BBG00HVVB499 16520
CADENCE DESIGN SYS INC CDNS 0.08 430270 BBG000C13CD9 1435
REGENERON PHARMACEUTICALS REGN 0.08 415357 BBG000C734W3 543
EXTRA SPACE STORAGE INC EXR 0.08 432618 BBG000PV27K3 2933
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.08 426849 BBG0113JGQF0 1162
CINTAS CORP CTAS 0.08 434217 BBG000H3YXF8 2123
CSX CORP CSX 0.08 415121 BBG000BGJRC8 10088
SYNOPSYS INC SNPS 0.08 450703 BBG000BSFRF3 1019
OREILLY AUTOMOTIVE INC ORLY 0.08 416505 BBG000BGYWY6 4414
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 399580 BBG000D4LWF6 6868
Warner Bros Discovery Inc WBD 0.07 375284 BBG011386VF4 13403
IRON MOUNTAIN INC IRM 0.07 380164 BBG000KCZPC3 3543
EQUITY RESIDENTIAL EQR 0.07 386296 BBG000BG8M31 6121
DOORDASH INC CLASS A DASH 0.07 400720 BBG005D7QCJ3 2184
MONSTER BEVERAGE CORP MNST 0.07 398073 BBG008NVB1C0 5190
ROSS STORES INC ROST 0.07 380464 BBG000BSBZH7 1771
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 365182 BBG00LBLDDR2 3625
AVALONBAY COMMUNITIES INC AVB 0.07 391749 BBG000BLPBL5 2185
AMERICAN ELECTRIC POWER AEP 0.07 371825 BBG000BB9KF2 2816
PACCAR INC PCAR 0.06 348559 BBG000BQVTF5 2826
Baker Hughes Company BKR 0.06 312807 BBG00GBVBK51 5197
AIRBNB INC ABNB 0.06 312455 BBG001Y2XS07 2300
FORTINET INC FTNT 0.06 348823 BBG000BCMBG4 4132
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.06 352517 BBG00ZXBJ153 4658
XCEL ENERGY INC XEL 0.05 257108 BBG000BCTQ65 3121
AO Smith Corp AOS 0.05 259488 BBG000BC1L02 3603
EXELON CORP EXC 0.05 256042 BBG000J6XT05 5250
ESSEX PROPERTY TRUST INC ESS 0.05 277092 BBG000CGJMB9 1073
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 281473 BBG000C30L48 261
PPG INDUSTRIES INC PPG 0.05 253721 BBG000BRJ809 2268
IDEXX LABS IDXX 0.05 258709 BBG000BLRT07 418
NXP Semiconductors NV NXPI 0.05 289548 BBG000BND699 1375
MID-AMERICA APARTMENT COMM MAA 0.05 276481 BBG000BLMY92 2057
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 271411 N/A 2480
JOHNSON & JOHNSON JNJ 0.05 268146 BBG000BMHYD1 1119
INVITATION HOMES INC REIT USD.01 INVH 0.05 278123 BBG00FQH6BS9 10527
AUTODESK INC ADSK 0.05 289740 BBG000BM7HL0 1097
FERROVIAL SE FER 0.05 261064 BBG01H7CZ9S9 3882
CONSOLIDATED EDISON INC ED 0.05 295817 BBG000BHLYS1 2672
MCDONALDS CORP MCD 0.05 267527 BBG000BNSZP1 817
DIAMONDBACK ENERGY INC FANG 0.05 271425 BBG002PHSYX9 1516
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 249624 BBG00B6BFWH9 2455
ELECTRONIC ARTS INC EA 0.05 271227 BBG000BP0KQ8 1351
Sun Communities Inc SUI 0.04 223215 BBG000BLJWF3 1633
ROPER TECHNOLOGIES INC ROP 0.04 208631 BBG000F1ZSN5 570
MICROCHIP TECHNOLOGY INC MCHP 0.04 204922 BBG000BHCP19 3022
PAYPAL HOLDINGS INC PYPL 0.04 235437 BBG0077VNXV6 4942
AXON ENTERPRISE INC AXON 0.04 240176 BBG000BHJWG1 421
Old Dominion Freight Line Inc. ODFL 0.04 232591 BBG000CHSS88 1104
Omega Healthcare Investors Inc OHI 0.04 213745 BBG000BGBTC2 4541
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 211680 BBG000BS1YV5 996
KIMCO REALTY CORP KIM 0.04 217806 BBG000CN3S73 9368
KEURIG DR PEPPER INC KDP 0.04 204709 BBG000TJM7F0 7298
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 218908 BBG000BFGNJ5 683
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 193469 BBG01BFR8YV1 2509
Datadog Inc. Class A DDOG 0.04 220737 BBG003NJHZT9 1804
MICROSTRATEGY INC-CL A MSTR 0.04 204402 BBG000GQJPZ0 1462
W. P. CAREY REIT INC WPC 0.04 213240 BBG000BCQM58 2938
INSMED INC INSM 0.03 165823 BBG000BWM5P3 1155
PAYCHEX INC PAYX 0.03 186725 BBG000BQSQ38 1898
KRAFT HEINZ CO/THE KHC 0.03 155276 BBG005CPNTQ2 6516
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 176685 BBG000BBDV81 2686
Zscaler Inc. ZS 0.03 158073 BBG003338H34 976
VERISK ANALYTICS INC VRSK 0.03 151656 BBG000BCZL41 718
CHARTER COMMUNICATIONS INC-A CHTR 0.03 156589 BBG000VPGNR2 681
COPART INC CPRT 0.03 191735 BBG000BM9RH1 5043
WORKDAY INC-CLASS A WDAY 0.03 177646 BBG000VC0T95 1207
DEXCOM INC DXCM 0.03 154740 BBG000QTF8K1 2189
COSTAR GROUP INC CSGP 0.02 110341 BBG000D7JKW9 2256
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 79044.6 BBG01BGWHFR5 958
ASTRAZENECA PLC AZNCF 0.00 592.56 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.