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 05/18/2026
TICKER RAA
NET ASSETS $589M
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 $29.85
30 DAY MEDIAN BID-ASK SPREAD 0.000681

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 18.26% 17.62%
RAA - Market Price 17.80% 17.60%
S&P 500 Index Total Return 16.99% 16.88%
1 MO 3 MO YTD Since Inception
RAA - NAV -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 10.18%
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 05/18/2026

NET ASSET VALUE

$29.85

CLOSING PRICE

$29.86

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 19
Discount 5 13 16 8 7

Asset Allocation

As of 5/18/2026

Equities

46.60%
Nasdaq
18.57%
US Large Cap
14.20%
Dividend Payers
3.90%
US Small Cap
3.90%
Emerging Ex. China
2.04%
Japan
2.02%
Europe
1.97%

Fixed Income

26.26%
Long Term Treasuries
6.72%
High Yield
5.87%
Corporate Bonds
5.86%
Emerging Mkt Bonds
3.90%
TIPS
2.91%
T-Bills
1.00%

Alternatives

27.14%
Miners
7.04%
Managed Futures
6.08%
Gold
4.85%
Commodities
3.98%
Bitcoin
2.16%
Energy
2.07%
Real Estate
0.96%

Holdings

As of 05/18/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.20 83630900 BBG00RYR67P4 592287
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.72 39598000 BBG00PZFJPC3 1303420
SCHWAB HIGH YIELD BOND ETF SCYB 5.87 34560700 BBG01F80WX71 1327720
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.86 34495800 BBG000PWYVH7 421194
iM DBi Managed Futures Strategy ETF DBMF 5.27 31043400 N/A 991485
SPROTT PHYSICAL GOLD TRUS PHYS 4.85 28560700 BBG000Q83F79 828085
INVESCO OPTIMUM YIELD DIVERS PDBC 3.98 23418900 N/A 1251010
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.90 22977100 BBG000NXKWH0 242836
VANGUARD SMALL-CAP ETF VB 3.90 22981600 BBG000HT3Z79 81660
SCHWAB U.S. TIPS ETF SCHP 2.91 17112000 BBG000BGN6P5 642344
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.16 12742300 N/A 375105
ISHARES MSCI EMR MRK EX CHNA EMXC 2.04 11995400 BBG00H5VLMJ6 128225
Franklin FTSE Japan ETF FLJP 2.02 11881800 BBG00J3MDY16 304896
Franklin FTSE Europe ETF FLEE 1.97 11582400 BBG00J3PR1S7 302588
NVIDIA CORP NVDA 1.78 10467000 BBG000BBJQV0 47081
BHP GROUP LTD BHP 1.40 8235300 BBG000BD5NZ4 98016
APPLE INC AAPL 1.36 7999090 BBG000B9XRY4 26857
MICROSOFT CORP MSFT 1.05 6159540 BBG000BPH459 14543
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5778360 BBG01922X0X9 115706
AMAZON.COM INC AMZN 0.91 5331370 BBG000BVPV84 20129
NEWMONT GOLDCORP CORPORATION COM NEM 0.89 5227430 BBG000BPWXK1 47587
RIO TINTO PLC-SPON ADR RIO 0.81 4788000 BBG000FD28T3 46337
Simplify DBi CTA Managed Futures Index ETF SDMF 0.81 4741140 BBG020BR8WR7 182620
AGNICO EAGLE MINES LTD AEM 0.73 4302470 BBG000DLVDK3 24008
MICRON TECHNOLOGY INC MU 0.67 3959070 BBG000C5Z1S3 5809
ALPHABET INC-CL A GOOGL 0.67 3962260 BBG009S39JX6 9982
FREEPORT-MCMORAN INC FCX 0.66 3890820 BBG000BJDB15 64311
Tesla Inc. TSLA 0.64 3740750 BBG000N9MNX3 9124
META PLATFORMS INC META 0.62 3659930 BBG000MM2P62 5988
Broadcom Inc. AVGO 0.62 3624000 BBG00KHY5S69 8614
ALPHABET INC-CL C GOOG 0.62 3671650 BBG009S3NB30 9340
ADVANCED MICRO DEVICES INC AMD 0.57 3383500 BBG000BBQCY0 8037
GLENCORE PLC -UNSP ADR GLNCY 0.55 3222490 BBG001VKX1Z1 210345
WAL-MART STORES INC WMT 0.55 3233360 BBG000BWXBC2 24249
Barrick Mining Corp. B 0.53 3140250 N/A 77346
INTEL CORP INTC 0.47 2792080 BBG000C0G1D1 25812
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.45 2666460 BBG000PVRDL2 20592
COSTCO WHOLESALE CORP COST 0.41 2406990 BBG000F6H8W8 2236
CISCO SYSTEMS INC CSCO 0.40 2357510 BBG000C3J3C9 19831
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.37 2173740 N/A 85178
FRANCO-NEVADA CORP FNV 0.35 2037930 BBG000RD3CL8 9041
CHEVRON CORP CVX 0.33 1927660 BBG000K4ND22 9919
NETFLIX INC NFLX 0.33 1914300 BBG000CL9VN6 21353
VALE SA-SP ADR VALE 0.30 1741160 BBG000BN5LG7 106754
LAM RESH CORP LRCX 0.29 1716120 BBG000BNFLM9 6174
APPLIED MATERIALS INC AMAT 0.28 1638980 BBG000BBPFB9 3963
AUTOMATIC DATA PROCESSING ADP 0.28 1676950 BBG000JG0547 7522
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.27 1578160 BBG000N7QR55 11678
TEXAS INSTRUMENTS INC TXN 0.23 1346690 BBG000BVV7G1 4480
REALTY INCOME CORP O 0.23 1378970 BBG000DHPN63 22346
FRANKLIN RESOURCES INC BEN 0.21 1230430 BBG000BD0TF8 38487
LINDE PLC LIN 0.21 1210740 BBG01FND0CC1 2370
KLA CORPORATION KLAC 0.21 1222490 BBG000BMTFR4 696
MARATHON PETROLEUM CORP MPC 0.21 1211230 BBG001DCCGR8 4667
CANADIAN NATURAL RESOURCES CNQ 0.20 1186940 BBG000HW5GX3 24248
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.20 1186250 BBG000BRK7L6 17012
SCHLUMBERGER LTD SLB 0.20 1165750 BBG000BT41Q8 20398
WILLIAMS COMPANIES INC. WMB 0.20 1179330 BBG000BWVCP8 15180
T ROWE PRICE GROUP INC TROW 0.20 1167640 BBG000BVMPN3 11405
EXXON MOBIL CORP XOM 0.20 1193240 BBG000GZQ728 7435
OCCIDENTAL PETROLEUM CORP OXY 0.19 1141340 BBG000BQQ2S6 19118
KENVUE INC KVUE 0.19 1139890 BBG01C79X561 66350
Kimberly-Clark Corp KMB 0.19 1144670 BBG000BMW2Z0 11857
HORMEL FOODS CORP HRL 0.19 1106590 BBG000BLF8D2 54298
EQT CORP EQT 0.19 1099880 BBG000BHZ5J9 19145
MEDTRONIC PLC MDT 0.19 1111480 BBG000BNWG87 14375
CLOROX COMPANY CLX 0.19 1113380 BBG000BFS7D3 11995
EVERSOURCE ENERGY ES 0.19 1125500 BBG000BQ87N0 16532
STANLEY BLACK & DECKER INC SWK 0.19 1113260 BBG000BTQR96 14755
ILLINOIS TOOL WORKS ITW 0.19 1121570 BBG000BMBL90 4496
AMCOR PLC COMMON STOCK USD.01 AMCR 0.19 1146110 N/A 30571
Cheniere Energy Inc LNG 0.18 1042740 BBG000C3HSR0 4209
PPG INDUSTRIES INC PPG 0.18 1087390 BBG000BRJ809 10490
PALO ALTO NETWORKS INC PANW 0.18 1055800 BBG0014GJCT9 4265
ABBVIE INC ABBV 0.18 1069250 BBG0025Y4RY4 5106
T-MOBILE US INC TMUS 0.18 1079080 BBG000NDV1D4 5660
PEPSICO INC PEP 0.17 1019570 BBG000DH7JK6 6840
ANALOG DEVICES INC ADI 0.17 1013380 BBG000BB6G37 2421
AO Smith Corp AOS 0.16 913267 BBG000BC1L02 16107
QUALCOMM INC QCOM 0.16 959755 BBG000CGC1X8 4713
SANDISK CORP/DE SNDKV SNDK 0.16 963766 BBG01R388JG1 723
AMGEN INC AMGN 0.15 859309 BBG000BBS2Y0 2649
J M Smucker Co COM STK NPV SJM 0.15 872234 BBG000BT1715 8416
GENUINE PARTS CO GPC 0.14 844120 BBG000BKL348 9060
GILEAD SCIENCES INC GILD 0.14 806936 BBG000CKGBP2 6223
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 814924 BBG0113JGQF0 1100
International Business Machines Corporation IBM 0.14 801009 BBG000BLNNH6 3596
Crowdstrike Holdings Inc. Class A CRWD 0.14 810667 BBG00BLYKS03 1310
WESTERN DIGITAL CORP WDC 0.13 749483 BBG000BWNFZ9 1634
INTUITIVE SURGICAL INC ISRG 0.13 792736 BBG000BJPDZ1 1802
WELLTOWER INC WELL 0.13 739032 BBG000BKY1G5 3476
APPLOVIN CORP APP 0.13 790270 BBG006HFPX77 1605
HONEYWELL INTERNATIONAL INC HON 0.12 698177 BBG000H556T9 3214
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 716601 BBG00ZXBJ153 4242
PROLOGIS INC PLD 0.12 697888 BBG000B9Z0J8 4904
SHOPIFY INC - CLASS A SHOP 0.11 649357 BBG008HBD923 6342
BOOKING HOLDINGS INC BKNG 0.11 651449 BBG000BLBVN4 4201
STARBUCKS CORP SBUX 0.11 622970 BBG000CTQBF3 5844
ASML HOLDING NV-NY REG SHS ASML 0.11 634600 BBG000K6MRN4 431
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 609817 BBG000BBTJZ1 2753
INTUIT INC INTU 0.10 583776 BBG000BH5DV1 1448
EQUINIX INC EQIX 0.09 512183 BBG000MBDGM6 482
ADOBE SYSTEMS INC ADBE 0.09 536588 BBG000BB5006 2099
VERTEX PHARMACEUTICALS INC VRTX 0.09 555330 BBG000C1S2X2 1272
CADENCE DESIGN SYS INC CDNS 0.08 495112 BBG000C13CD9 1431
FASTENAL CO FAST 0.08 486552 BBG000BJ8YN7 11058
COMCAST CORP-CLASS A CMCSA 0.08 455297 BBG000BFT2L4 18263
CONSTELLATION ENERGY CORPORATION CEG 0.08 461120 BBG014KFRNP7 1760
Marriott International, Inc Class A MAR 0.08 475195 BBG000BGD7W6 1323
MONSTER BEVERAGE CORP MNST 0.08 444382 BBG008NVB1C0 5019
FORTINET INC FTNT 0.08 483989 BBG000BCMBG4 3826
SYNOPSYS INC SNPS 0.08 484972 BBG000BSFRF3 973
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 394681 BBG000D4LWF6 6403
MERCADOLIBRE INC MELI 0.07 401235 BBG000GQPB11 253
CSX CORP CSX 0.07 438623 BBG000BGJRC8 9494
SIMON PROPERTY GROUP INC SPG 0.07 399838 BBG000BJ2D31 1995
PUBLIC STORAGE PSA 0.06 341757 BBG000BPPN67 1154
Warner Bros Discovery Inc WBD 0.06 340782 BBG011386VF4 12575
Baker Hughes Company BKR 0.06 325067 BBG00GBVBK51 4910
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 359692 BBG000C30L48 242
NXP Semiconductors NV NXPI 0.06 381226 BBG000BND699 1307
DOORDASH INC CLASS A DASH 0.06 336239 BBG005D7QCJ3 2067
ROSS STORES INC ROST 0.06 348493 BBG000BSBZH7 1651
DIGITAL REALTY TRUST INC DLR 0.06 382090 BBG000Q5ZRM7 2027
CINTAS CORP CTAS 0.06 352859 BBG000H3YXF8 2022
OREILLY AUTOMOTIVE INC ORLY 0.06 367694 BBG000BGYWY6 4008
Datadog Inc. Class A DDOG 0.06 363347 BBG003NJHZT9 1740
AMERICAN ELECTRIC POWER AEP 0.06 351886 BBG000BB9KF2 2756
PACCAR INC PCAR 0.05 292043 BBG000BQVTF5 2615
Ventas Inc. VTR 0.05 290686 BBG000FRVHB9 3298
REGENERON PHARMACEUTICALS REGN 0.05 321766 BBG000C734W3 511
AIRBNB INC ABNB 0.05 286059 BBG001Y2XS07 2130
AUTODESK INC ADSK 0.05 268326 BBG000BM7HL0 1102
DIAMONDBACK ENERGY INC FANG 0.05 286429 BBG002PHSYX9 1393
CONSOLIDATED EDISON INC ED 0.05 290559 BBG000BHLYS1 2728
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.05 317105 BBG00LBLDDR2 3339
XCEL ENERGY INC XEL 0.04 236721 BBG000BCTQ65 3031
PAYPAL HOLDINGS INC PYPL 0.04 209675 BBG0077VNXV6 4724
MICROCHIP TECHNOLOGY INC MCHP 0.04 250359 BBG000BHCP19 2699
Old Dominion Freight Line Inc. ODFL 0.04 211887 BBG000CHSS88 1038
IDEXX LABS IDXX 0.04 223228 BBG000BLRT07 409
AIR PRODUCTS & CHEMICALS INC APD 0.04 227315 BBG000BC4JJ4 775
EXELON CORP EXC 0.04 231678 BBG000J6XT05 5269
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 236590 BBG000BS1YV5 977
VICI PROPERTIES INC REIT VICI 0.04 229710 BBG00HVVB499 8060
FERROVIAL SE FER 0.04 241044 BBG01H7CZ9S9 3613
EXTRA SPACE STORAGE INC EXR 0.04 227289 BBG000PV27K3 1632
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 254368 BBG00CMNZNK7 254368
MCDONALDS CORP MCD 0.04 222869 BBG000BNSZP1 789
AVALONBAY COMMUNITIES INC AVB 0.04 232674 BBG000BLPBL5 1256
MICROSTRATEGY INC-CL A MSTR 0.04 251445 BBG000GQJPZ0 1509
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 213560 BBG00B6BFWH9 2311
ELECTRONIC ARTS INC EA 0.04 257545 BBG000BP0KQ8 1281
PAYCHEX INC PAYX 0.03 181137 BBG000BQSQ38 1917
ROPER TECHNOLOGIES INC ROP 0.03 170801 BBG000F1ZSN5 516
AXON ENTERPRISE INC AXON 0.03 167735 BBG000BHJWG1 420
IRON MOUNTAIN INC IRM 0.03 172552 BBG000KCZPC3 1392
EQUITY RESIDENTIAL EQR 0.03 172931 BBG000BG8M31 2643
Zscaler Inc. ZS 0.03 154426 BBG003338H34 884
KEURIG DR PEPPER INC KDP 0.03 197240 BBG000TJM7F0 6702
COPART INC CPRT 0.03 168604 BBG000BM9RH1 5042
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 186362 BBG000BFGNJ5 651
THOMSON REUTERS CORP TRI 0.03 192930 N/A 2143.67
INSMED INC INSM 0.02 113472 BBG000BWM5P3 1059
Sun Communities Inc SUI 0.02 109481 BBG000BLJWF3 901
KRAFT HEINZ CO/THE KHC 0.02 137298 BBG005CPNTQ2 5880
Omega Healthcare Investors Inc OHI 0.02 119012 BBG000BGBTC2 2463
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 130184 BBG000BBDV81 2533
ESSEX PROPERTY TRUST INC ESS 0.02 119513 BBG000CGJMB9 439
MID-AMERICA APARTMENT COMM MAA 0.02 115810 BBG000BLMY92 903
CHARTER COMMUNICATIONS INC-A CHTR 0.02 90374.4 BBG000VPGNR2 640
VERISK ANALYTICS INC VRSK 0.02 122294 BBG000BCZL41 713
KIMCO REALTY CORP KIM 0.02 115191 BBG000CN3S73 4908
INVITATION HOMES INC REIT USD.01 INVH 0.02 113649 BBG00FQH6BS9 3953
WORKDAY INC-CLASS A WDAY 0.02 141252 BBG000VC0T95 1096
DEXCOM INC DXCM 0.02 127641 BBG000QTF8K1 1961
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 136245 BBG01BFR8YV1 2215
W. P. CAREY REIT INC WPC 0.02 117205 BBG000BCQM58 1586
Cash & Other Cash&Other 0.00 -22443.4 N/A -22443.4

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.