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 07/07/2026
TICKER RAA
NET ASSETS $592M
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 $29.40
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 3.18% -3.97% 5.74% 0.68% 10.86% 0.68% 19.02% 11.92%
RAA - Market Price 3.12% -3.98% 5.76% 0.63% 10.84% 0.63% 19.02% 11.89%
S&P 500 Index Total Return 5.26% -4.98% 10.52% -4.33% 11.27% -4.33% 22.66% 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 07/07/2026

NET ASSET VALUE

$29.40

CLOSING PRICE

$29.39

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 1
Discount 13 16 8 14 1

Asset Allocation

As of 7/7/2026

Equities

40.24%
Nasdaq
15.52%
US Large Cap
9.99%
Dividend Payers
3.95%
Emerging Ex. China
3.80%
US Small Cap
2.96%
Europe
2.01%
Japan
2.01%

Fixed Income

27.59%
High Yield
5.97%
Corporate Bonds
5.93%
Long Term Treasuries
5.84%
Emerging Mkt Bonds
3.97%
TIPS
2.96%
T-Bills
2.92%

Alternatives

32.17%
Commodities
7.18%
Managed Futures
7.03%
Miners
5.89%
Gold
4.09%
Energy
3.71%
Bitcoin
2.18%
Real Estate
2.09%

Holdings

As of 07/07/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.99 59191400 BBG00RYR67P4 412541
INVESCO OPTIMUM YIELD DIVERS PDBC 7.18 42537000 N/A 2606430
SCHWAB HIGH YIELD BOND ETF SCYB 5.97 35374700 BBG01F80WX71 1355350
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 35142500 BBG000PWYVH7 428828
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.84 34614100 BBG00PZFJPC3 1127490
iM DBi Managed Futures Strategy ETF DBMF 5.82 34450800 N/A 1122910
SPROTT PHYSICAL GOLD TRUS PHYS 4.09 24205700 BBG000Q83F79 780578
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.97 23496500 BBG000NXKWH0 244908
ISHARES MSCI EMR MRK EX CHNA EMXC 3.80 22492300 BBG00H5VLMJ6 232358
SCHWAB U.S. TIPS ETF SCHP 2.96 17544100 BBG000BGN6P5 668601
VANGUARD SMALL-CAP ETF VB 2.96 17536300 BBG000HT3Z79 58748
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.18 12920100 N/A 457836
Franklin FTSE Europe ETF FLEE 2.01 11923900 BBG00J3PR1S7 306410
Franklin FTSE Japan ETF FLJP 2.01 11877400 BBG00J3MDY16 298276
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 11849600 BBG01922X0X9 237467
Simplify DBi CTA Managed Futures Index ETF SDMF 1.21 7142930 BBG020BR8WR7 279936
BHP GROUP LTD BHP 1.20 7129080 BBG000BD5NZ4 88858
NVIDIA CORP NVDA 1.19 7060140 BBG000BBJQV0 35851
APPLE INC AAPL 1.13 6713050 BBG000B9XRY4 21609
MICRON TECHNOLOGY INC MU 0.74 4379420 BBG000C5Z1S3 4667
MICROSOFT CORP MSFT 0.73 4320010 BBG000BPH459 11110
NEWMONT GOLDCORP CORPORATION COM NEM 0.69 4099080 BBG000BPWXK1 43121
AMAZON.COM INC AMZN 0.68 4004550 BBG000BVPV84 16280
RIO TINTO PLC-SPON ADR RIO 0.66 3884150 BBG000FD28T3 42566
ADVANCED MICRO DEVICES INC AMD 0.55 3280400 BBG000BBQCY0 6356
ALPHABET INC-CL A GOOGL 0.54 3189120 BBG009S39JX6 8689
CHEVRON CORP CVX 0.53 3159150 BBG000K4ND22 18155
Tesla Inc. TSLA 0.51 2999590 BBG000N9MNX3 7445
FREEPORT-MCMORAN INC FCX 0.51 3009630 BBG000BJDB15 50727
AGNICO EAGLE MINES LTD AEM 0.50 2966160 BBG000DLVDK3 19731
ALPHABET INC-CL C GOOG 0.50 2963500 BBG009S3NB30 8150
GLENCORE PLC -UNSP ADR GLNCY 0.47 2770640 BBG001VKX1Z1 205005
META PLATFORMS INC META 0.47 2768260 BBG000MM2P62 4497
Broadcom Inc. AVGO 0.44 2621410 BBG00KHY5S69 7070
OCCIDENTAL PETROLEUM CORP OXY 0.42 2478000 BBG000BQQ2S6 47949
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.42 2476500 BBG000BRK7L6 43708
Cheniere Energy Inc LNG 0.42 2479880 BBG000C3HSR0 9725
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.42 2460590 N/A 17366
CANADIAN NATURAL RESOURCES CNQ 0.41 2423820 BBG000HW5GX3 59568
MARATHON PETROLEUM CORP MPC 0.41 2424400 BBG001DCCGR8 9103
SCHLUMBERGER LTD SLB 0.40 2365610 BBG000BT41Q8 50961
WILLIAMS COMPANIES INC. WMB 0.40 2355860 BBG000BWVCP8 31378
EQT CORP EQT 0.39 2287950 BBG000BHZ5J9 44203
WAL-MART STORES INC WMT 0.39 2282440 BBG000BWXBC2 20463
Barrick Mining Corp. B 0.38 2269910 N/A 61582
INTEL CORP INTC 0.37 2165740 BBG000C0G1D1 19619
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.33 1925330 N/A 79428
NUCOR CORP NUE 0.32 1868940 BBG000BQ8KV2 8218
CISCO SYSTEMS INC CSCO 0.31 1828660 BBG000C3J3C9 16358
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1844170 BBG000PVRDL2 16482
REALTY INCOME CORP O 0.31 1840220 BBG000DHPN63 28749
COSTCO WHOLESALE CORP COST 0.30 1767090 BBG000F6H8W8 1865
APPLIED MATERIALS INC AMAT 0.29 1735580 BBG000BBPFB9 3130
AUTOMATIC DATA PROCESSING ADP 0.29 1716500 BBG000JG0547 6989
LAM RESH CORP LRCX 0.28 1630000 BBG000BNFLM9 4998
WELLTOWER INC WELL 0.27 1569760 BBG000BKY1G5 6607
FRANCO-NEVADA CORP FNV 0.26 1559630 BBG000RD3CL8 7441
VALE SA-SP ADR VALE 0.26 1559450 BBG000BN5LG7 106157
PROLOGIS INC PLD 0.25 1487080 BBG000B9Z0J8 10355
NETFLIX INC NFLX 0.23 1360350 BBG000CL9VN6 17857
KENVUE INC KVUE 0.21 1228810 BBG01C79X561 62124
Kimberly-Clark Corp KMB 0.21 1239080 BBG000BMW2Z0 10799
MEDTRONIC PLC MDT 0.21 1257370 BBG000BNWG87 14999
CLOROX COMPANY CLX 0.21 1219770 BBG000BFS7D3 12522
T ROWE PRICE GROUP INC TROW 0.21 1241970 BBG000BVMPN3 10336
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1252460 BBG000N7QR55 9321
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1217130 N/A 27382
HORMEL FOODS CORP HRL 0.20 1157590 BBG000BLF8D2 46866
FRANKLIN RESOURCES INC BEN 0.20 1208440 BBG000BD0TF8 35170
EVERSOURCE ENERGY ES 0.20 1170360 BBG000BQ87N0 15657
PALO ALTO NETWORKS INC PANW 0.20 1167510 BBG0014GJCT9 3464
ILLINOIS TOOL WORKS ITW 0.20 1198760 BBG000BMBL90 4422
GENUINE PARTS CO GPC 0.19 1107080 BBG000BKL348 8604
EQUINIX INC EQIX 0.19 1125220 BBG000MBDGM6 1100
KLA CORPORATION KLAC 0.19 1108330 BBG000BMTFR4 5120
STANLEY BLACK & DECKER INC SWK 0.19 1121060 BBG000BTQR96 12544
International Business Machines Corporation IBM 0.19 1116150 BBG000BLNNH6 3646
TEXAS INSTRUMENTS INC TXN 0.18 1072890 BBG000BVV7G1 3658
Cash & Other Cash&Other 0.17 1015100 N/A 1015100
AO Smith Corp AOS 0.17 987459 BBG000BC1L02 16106
PPG INDUSTRIES INC PPG 0.17 988449 BBG000BRJ809 8222
LINDE PLC LIN 0.17 1019410 BBG01FND0CC1 1894
ABBVIE INC ABBV 0.17 995427 BBG0025Y4RY4 3909
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.17 1003780 BBG00CMNZNK7 1003780
SANDISK CORP/DE SNDKV SNDK 0.16 926942 BBG01R388JG1 573
J M Smucker Co COM STK NPV SJM 0.15 859492 BBG000BT1715 7590
PEPSICO INC PEP 0.14 845378 BBG000DH7JK6 5831
WESTERN DIGITAL CORP WDC 0.14 818902 BBG000BWNFZ9 1539
QUALCOMM INC QCOM 0.14 802689 BBG000CGC1X8 4387
AMGEN INC AMGN 0.14 830434 BBG000BBS2Y0 2256
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 826812 BBG0113JGQF0 999
Crowdstrike Holdings Inc. Class A CRWD 0.14 838034 BBG00BLYKS03 4306
T-MOBILE US INC TMUS 0.14 855300 BBG000NDV1D4 4630
SIMON PROPERTY GROUP INC SPG 0.14 841739 BBG000BJ2D31 3705
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 776767 BBG00ZXBJ153 3367
ANALOG DEVICES INC ADI 0.13 761850 BBG000BB6G37 2010
Ventas Inc. VTR 0.12 696306 BBG000FRVHB9 7402
PUBLIC STORAGE PSA 0.12 726405 BBG000BPPN67 2210
INTUITIVE SURGICAL INC ISRG 0.12 702481 BBG000BJPDZ1 1644
ERIE INDEMNITY COMPANY-CL A ERIE 0.12 715016 BBG000BBTJZ1 2789
GILEAD SCIENCES INC GILD 0.12 706208 BBG000CKGBP2 5179
DIGITAL REALTY TRUST INC DLR 0.12 706246 BBG000Q5ZRM7 4038
ASML HOLDING NV-NY REG SHS ASML 0.12 684934 BBG000K6MRN4 392
SHOPIFY INC - CLASS A SHOP 0.11 662783 BBG008HBD923 5438
APPLOVIN CORP APP 0.11 651527 BBG006HFPX77 1234
VERTEX PHARMACEUTICALS INC VRTX 0.10 608421 BBG000C1S2X2 1165
BOOKING HOLDINGS INC BKNG 0.10 593703 BBG000BLBVN4 3263
IRON MOUNTAIN INC IRM 0.09 523537 BBG000KCZPC3 4523
ARM HOLDINGS PLC ARM 0.09 506225 BBG01J1GXZF0 1685
FORTINET INC FTNT 0.09 512980 BBG000BCMBG4 3233
CADENCE DESIGN SYS INC CDNS 0.08 461228 BBG000C13CD9 1243
FASTENAL CO FAST 0.08 451031 BBG000BJ8YN7 9574
Marriott International, Inc Class A MAR 0.08 469465 BBG000BGD7W6 1233
EXTRA SPACE STORAGE INC EXR 0.08 473031 BBG000PV27K3 3202
STARBUCKS CORP SBUX 0.08 494116 BBG000CTQBF3 4769
VICI PROPERTIES INC REIT VICI 0.08 471902 BBG00HVVB499 17628
AVALONBAY COMMUNITIES INC AVB 0.08 459557 BBG000BLPBL5 2352
COMCAST CORP-CLASS A CMCSA 0.07 396893 BBG000BFT2L4 16954
EQUITY RESIDENTIAL EQR 0.07 433808 BBG000BG8M31 6184
CONSTELLATION ENERGY CORPORATION CEG 0.07 402952 BBG014KFRNP7 1681
ADOBE SYSTEMS INC ADBE 0.07 392126 BBG000BB5006 1770
MONSTER BEVERAGE CORP MNST 0.07 441083 BBG008NVB1C0 4551
MERCADOLIBRE INC MELI 0.07 418944 BBG000GQPB11 231
CSX CORP CSX 0.07 432273 BBG000BGJRC8 8911
SYNOPSYS INC SNPS 0.07 394714 BBG000BSFRF3 904
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 325872 BBG022XF4SZ9 1448
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 356864 BBG000D4LWF6 5926
DOORDASH INC CLASS A DASH 0.06 357776 BBG005D7QCJ3 1828
INTUIT INC INTU 0.06 341622 BBG000BH5DV1 1215
CINTAS CORP CTAS 0.06 344568 BBG000H3YXF8 1895
OREILLY AUTOMOTIVE INC ORLY 0.06 341921 BBG000BGYWY6 3946
Datadog Inc. Class A DDOG 0.06 364413 BBG003NJHZT9 1419
AMERICAN ELECTRIC POWER AEP 0.06 355102 BBG000BB9KF2 2582
PACCAR INC PCAR 0.05 305549 BBG000BQVTF5 2455
Warner Bros Discovery Inc WBD 0.05 305055 BBG011386VF4 11679
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 285109 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 304286 BBG000CGJMB9 1020
NXP Semiconductors NV NXPI 0.05 323956 BBG000BND699 1186
ROSS STORES INC ROST 0.05 306334 BBG000BSBZH7 1427
AIRBNB INC ABNB 0.05 285994 BBG001Y2XS07 1922
REGENERON PHARMACEUTICALS REGN 0.05 317152 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 316164 BBG00FQH6BS9 10469
XCEL ENERGY INC XEL 0.04 232733 BBG000BCTQ65 2885
MICROCHIP TECHNOLOGY INC MCHP 0.04 212479 BBG000BHCP19 2525
Sun Communities Inc SUI 0.04 246047 BBG000BLJWF3 2012
HOST HOTELS & RESORTS INC HST 0.04 249868 BBG000BL8804 10701
ASTERA LABS INC ALAB 0.04 245432 BBG00TDKHW99 641
AXON ENTERPRISE INC AXON 0.04 232487 BBG000BHJWG1 363
Baker Hughes Company BKR 0.04 249255 BBG00GBVBK51 4576
TERADYNE INC TER 0.04 216846 BBG000BV4DR6 632
EXELON CORP EXC 0.04 233426 BBG000J6XT05 4907
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 219637 BBG000BS1YV5 852
MID-AMERICA APARTMENT COMM MAA 0.04 242041 BBG000BLMY92 1708
KIMCO REALTY CORP KIM 0.04 234110 BBG000CN3S73 9257
FERROVIAL SE FER 0.04 220400 BBG01H7CZ9S9 3347
AUTODESK INC ADSK 0.04 210681 BBG000BM7HL0 992
MCDONALDS CORP MCD 0.04 247498 BBG000BNSZP1 877
DIAMONDBACK ENERGY INC FANG 0.04 236534 BBG002PHSYX9 1310
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 244701 BBG00LBLDDR2 2965
W. P. CAREY REIT INC WPC 0.04 237229 BBG000BCQM58 3330
LUMENTUM HOLDINGS INC LITE 0.04 232038 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 229827 BBG00B6BFWH9 2158
ELECTRONIC ARTS INC EA 0.04 231942 BBG000BP0KQ8 1129
PAYCHEX INC PAYX 0.03 170613 BBG000BQSQ38 1578
PAYPAL HOLDINGS INC PYPL 0.03 195428 BBG0077VNXV6 4281
ROPER TECHNOLOGIES INC ROP 0.03 168362 BBG000F1ZSN5 464
Old Dominion Freight Line Inc. ODFL 0.03 203657 BBG000CHSS88 945
AIR PRODUCTS & CHEMICALS INC APD 0.03 197977 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 207001 BBG000BLRT07 363
KEURIG DR PEPPER INC KDP 0.03 201505 BBG000TJM7F0 6399
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 206344 BBG000B9ZXB4 2153
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 199707 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 162788 BBG001NVJ6W4 834
CONSOLIDATED EDISON INC ED 0.03 197845 BBG000BHLYS1 1751
ROCKET LAB CORP RKLB 0.03 196264 BBG01V7JN3F3 2353
THOMSON REUTERS CORP TRI 0.03 175076 N/A 1929
KRAFT HEINZ CO/THE KHC 0.02 141908 BBG005CPNTQ2 5609
WORKDAY INC-CLASS A WDAY 0.02 123826 BBG000VC0T95 862
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 140098 BBG01BFR8YV1 2159
COPART INC CPRT 0.02 131393 BBG000BM9RH1 4489
DEXCOM INC DXCM 0.02 124039 BBG000QTF8K1 1686
MICROSTRATEGY INC-CL A MSTR 0.02 133773 BBG000GQJPZ0 1374
EURO EUR 0.00 1955.67 N/A 1713.03
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 87.88 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 149.5 BBG003338H34 1
INSMED INC INSM 0.00 112.84 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 238.14 BBG020QYV152 1

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.