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 12/03/2025
TICKER RAA
NET ASSETS $505M
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 $27.83
30 DAY MEDIAN BID-ASK SPREAD 0.00037

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 2.14% 3.44% 7.33% 6.54% - - 11.85% 9.50%
RAA - Market Price 2.17% 3.45% 7.45% 6.40% - - 11.90% 9.52%
S&P 500 Index Total Return 2.34% 3.65% 8.23% 8.12% - - 15.83% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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 12/03/2025

NET ASSET VALUE

$27.83

CLOSING PRICE

$27.84

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 29
Discount 0 0 5 13 10

Asset Allocation

As of 12/3/2025

Equities

44.00%
Nasdaq
19.07%
US Large Cap
14.97%
Emerging Ex. China
2.99%
Japan
2.96%
Europe
2.01%
Dividend Payers
1.01%
US Small Cap
0.99%

Fixed Income

26.89%
High Yield
6.92%
Corporate Bonds
5.92%
Emerging Mkt Bonds
4.95%
TIPS
3.94%
Long Term Treasuries
2.93%
T-Bills
2.23%

Alternatives

29.11%
Commodities
7.06%
Managed Futures
6.91%
Energy
4.03%
Gold
4.00%
Bitcoin
3.08%
Miners
3.05%
Real Estate
0.98%

Holdings

As of 12/03/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.97 75638700 BBG00RYR67P4 575944
INVESCO OPTIMUM YIELD DIVERS PDBC 7.06 35657800 N/A 2591410
Schwab High Yield Bond ETF SCYB 6.92 34950500 BBG01F80WX71 1319630
iM DBi Managed Futures Strategy ETF DBMF 6.91 34886000 N/A 1212580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.92 29910800 BBG000PWYVH7 355319
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.95 25004100 BBG000NXKWH0 259002
SPROTT PHYSICAL GOLD TRUS PHYS 4.00 20211600 BBG000Q83F79 628276
SCHWAB U.S. TIPS ETF SCHP 3.94 19924700 BBG000BGN6P5 743736
GRAYSCALE BITCN MINI TRU ETF BTC.UP 3.08 15543900 N/A 377738
ISHARES MSCI EMR MRK EX CHNA EMXC 2.99 15102400 BBG00H5VLMJ6 211429
Franklin FTSE Japan ETF FLJP 2.96 14928200 BBG00J3MDY16 421106
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.93 14813100 BBG00PZFJPC3 459321
Franklin FTSE Europe ETF FLEE 2.01 10161600 BBG00J3PR1S7 282694
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 10000300 BBG01922X0X9 200446
NVIDIA CORP NVDA 1.74 8801930 BBG000BBJQV0 49014
APPLE INC AAPL 1.70 8586730 BBG000B9XRY4 30219
MICROSOFT CORP MSFT 1.41 7130120 BBG000BPH459 14925
Broadcom Inc. AVGO 1.16 5878900 BBG00KHY5S69 15446
AMAZON.COM INC AMZN 1.00 5069600 BBG000BVPV84 21816
VANGUARD SMALL-CAP ETF VB 0.99 5020330 BBG000HT3Z79 19388
ISHARES MSCI GLOBAL METALS & PICK 0.77 3912570 BBG002GKR8T5 79767
ALPHABET INC-CL A GOOGL 0.76 3851860 BBG009S39JX6 12051
ALPHABET INC-CL C GOOG 0.72 3613070 BBG009S3NB30 11269
Tesla Inc. TSLA 0.65 3286220 BBG000N9MNX3 7356
META PLATFORMS INC META 0.56 2841100 BBG000MM2P62 4442
NETFLIX INC NFLX 0.43 2177860 BBG000CL9VN6 20949
CHEVRON CORP CVX 0.43 2170010 BBG000K4ND22 14315
CANADIAN NATURAL RESOURCES CNQ 0.41 2046300 BBG000HW5GX3 59956
EQT CORP EQT 0.41 2078500 BBG000BHZ5J9 33979
SCHLUMBERGER LTD SLB 0.41 2095930 BBG000BT41Q8 55817
EXXON MOBIL CORP XOM 0.41 2046420 BBG000GZQ728 17372
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.40 2008950 BBG000BRK7L6 44963
WILLIAMS COMPANIES INC. WMB 0.40 2042660 BBG000BWVCP8 33187
OCCIDENTAL PETROLEUM CORP OXY 0.40 2041930 BBG000BQQ2S6 48102
COSTCO WHOLESALE CORP COST 0.40 2028050 BBG000F6H8W8 2199
Cheniere Energy Inc LNG 0.40 2026020 BBG000C3HSR0 9719
BHP GROUP LTD BHP 0.39 1959260 BBG000BD5NZ4 33827
MARATHON PETROLEUM CORP MPC 0.39 1966660 BBG001DCCGR8 10382
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.39 1971040 BBG000N7QR55 11194
ADVANCED MICRO DEVICES INC AMD 0.34 1708600 BBG000BBQCY0 7852
ISHARES MSCI GLOBAL GOLD MIN RING 0.33 1645800 BBG002GKR6T9 23828
CISCO SYSTEMS INC CSCO 0.31 1552200 BBG000C3J3C9 19964
NEWMONT GOLDCORP CORPORATION COM NEM 0.28 1391550 BBG000BPWXK1 15522
MICRON TECHNOLOGY INC MU 0.25 1285770 BBG000C5Z1S3 5491
T-MOBILE US INC TMUS 0.23 1184130 BBG000NDV1D4 5679
AGNICO EAGLE MINES LTD AEM 0.23 1175800 BBG000DLVDK3 6950
RIO TINTO PLC-SPON ADR RIO 0.22 1132320 BBG000FD28T3 15244
APPLIED MATERIALS INC AMAT 0.21 1047120 BBG000BBPFB9 3898
INTUITIVE SURGICAL INC ISRG 0.21 1039150 BBG000BJPDZ1 1824
PEPSICO INC PEP 0.20 1010360 BBG000DH7JK6 6824
LAM RESH CORP LRCX 0.20 1000190 BBG000BNFLM9 6261
INTEL CORP INTC 0.19 937733 BBG000C0G1D1 21429
SHOPIFY INC - CLASS A SHOP 0.19 973440 BBG008HBD923 6084
LINDE PLC LIN 0.19 964776 BBG01FND0CC1 2358
QUALCOMM INC QCOM 0.19 935521 BBG000CGC1X8 5371
INTUIT INC INTU 0.19 939136 BBG000BH5DV1 1450
AMGEN INC AMGN 0.19 936088 BBG000BBS2Y0 2710
APPLOVIN CORP APP 0.19 972124 BBG006HFPX77 1468
Barrick Mining Corp. B 0.19 950090 N/A 23459
FREEPORT-MCMORAN INC FCX 0.17 843354 BBG000BJDB15 18939
TEXAS INSTRUMENTS INC TXN 0.16 815674 BBG000BVV7G1 4467
KLA CORPORATION KLAC 0.16 800967 BBG000BMTFR4 661
BOOKING HOLDINGS INC BKNG 0.16 827742 BBG000BLBVN4 164
AUTOMATIC DATA PROCESSING ADP 0.16 788467 BBG000JG0547 3030
GILEAD SCIENCES INC GILD 0.15 775125 BBG000CKGBP2 6201
WELLTOWER INC WELL 0.15 735796 BBG000BKY1G5 3644
ADOBE SYSTEMS INC ADBE 0.14 706825 BBG000BB5006 2163
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 657382 BBG000PVRDL2 6088
PALO ALTO NETWORKS INC PANW 0.13 652533 BBG0014GJCT9 3370
GLENCORE PLC -UNSP ADR GLNCY 0.13 662391 BBG001VKX1Z1 65196
PROLOGIS INC PLD 0.13 652926 BBG000B9Z0J8 5054
Crowdstrike Holdings Inc. Class A CRWD 0.13 674607 BBG00BLYKS03 1287
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.13 676581 BBG00CMNZNK7 676581
ANALOG DEVICES INC ADI 0.13 675288 BBG000BB6G37 2427
Cash & Other Cash&Other 0.12 596218 N/A 596218
HONEYWELL INTERNATIONAL INC HON 0.12 624715 BBG000H556T9 3229
VERTEX PHARMACEUTICALS INC VRTX 0.12 592806 BBG000C1S2X2 1280
CONSTELLATION ENERGY CORPORATION CEG 0.11 556340 BBG014KFRNP7 1540
MERCADOLIBRE INC MELI 0.11 544796 BBG000GQPB11 257
Anglo American PLC NGLOD 0.11 572629 N/A 29186
REALTY INCOME CORP O 0.10 519499 BBG000DHPN63 8943
FRANCO-NEVADA CORP FNV 0.10 490067 BBG000RD3CL8 2420
STARBUCKS CORP SBUX 0.10 497311 BBG000CTQBF3 5709
COMCAST CORP-CLASS A CMCSA 0.10 512118 BBG000BFT2L4 18670
CADENCE DESIGN SYS INC CDNS 0.09 459798 BBG000C13CD9 1368
FASTENAL CO FAST 0.09 476915 BBG000BJ8YN7 11570
DOORDASH INC CLASS A DASH 0.09 454972 BBG005D7QCJ3 2045
ASML HOLDING NV-NY REG SHS ASML 0.09 465495 BBG000K6MRN4 408
Marriott International, Inc Class A MAR 0.08 423484 BBG000BGD7W6 1381
EQUINIX INC EQIX 0.08 389074 BBG000MBDGM6 531
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 384064 BBG00LBLDDR2 3277
SYNOPSYS INC SNPS 0.08 421195 BBG000BSFRF3 903
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 406912 BBG00ZXBJ153 4061
OREILLY AUTOMOTIVE INC ORLY 0.08 415050 BBG000BGYWY6 4209
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 364531 BBG000D4LWF6 6506
SIMON PROPERTY GROUP INC SPG 0.07 343453 BBG000BJ2D31 1884
REGENERON PHARMACEUTICALS REGN 0.07 377032 BBG000C734W3 521
MONSTER BEVERAGE CORP MNST 0.07 365930 BBG008NVB1C0 4946
CINTAS CORP CTAS 0.07 370528 BBG000H3YXF8 2006
CSX CORP CSX 0.07 330452 BBG000BGJRC8 9192
PAYPAL HOLDINGS INC PYPL 0.06 291931 BBG0077VNXV6 4767
PACCAR INC PCAR 0.06 283832 BBG000BQVTF5 2615
PUBLIC STORAGE PSA 0.06 304406 BBG000BPPN67 1094
Warner Bros Discovery Inc WBD 0.06 297887 BBG011386VF4 12124
AMERICAN ELECTRIC POWER AEP 0.06 319706 BBG000BB9KF2 2708
IDEXX LABS IDXX 0.06 294002 BBG000BLRT07 405
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 307547 N/A 2290
AUTODESK INC ADSK 0.06 318915 BBG000BM7HL0 1038
DIGITAL REALTY TRUST INC DLR 0.06 301175 BBG000Q5ZRM7 1886
FORTINET INC FTNT 0.06 325081 BBG000BCMBG4 3928
ROSS STORES INC ROST 0.06 296548 BBG000BSBZH7 1666
Ventas Inc. VTR 0.05 250640 BBG000FRVHB9 3133
XCEL ENERGY INC XEL 0.05 227488 BBG000BCTQ65 2902
ROPER TECHNOLOGIES INC ROP 0.05 235430 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 246082 BBG01C79X561 14501
Kimberly-Clark Corp KMB 0.05 245797 BBG000BMW2Z0 2316
GENUINE PARTS CO GPC 0.05 234859 BBG000BKL348 1814
Baker Hughes Company BKR 0.05 247098 BBG00GBVBK51 4894
PPG INDUSTRIES INC PPG 0.05 228015 BBG000BRJ809 2250
HORMEL FOODS CORP HRL 0.05 251619 BBG000BLF8D2 10813
MICROSTRATEGY INC-CL A MSTR 0.05 242835 BBG000GQJPZ0 1289
ILLINOIS TOOL WORKS ITW 0.05 250790 BBG000BMBL90 1003
AMCOR PLC AMCR 0.05 246228 BBG00LNJRQ09 29105
TARGET CORP TGT 0.05 254212 BBG000H8TVT2 2796
MEDTRONIC PLC MDT 0.05 237794 BBG000BNWG87 2332
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 230988 BBG000BS1YV5 943
FRANKLIN RESOURCES INC BEN 0.05 255687 BBG000BD0TF8 11112
AIRBNB INC ABNB 0.05 262004 BBG001Y2XS07 2181
NXP Semiconductors NV NXPI 0.05 275803 BBG000BND699 1212
T ROWE PRICE GROUP INC TROW 0.05 257688 BBG000BVMPN3 2453
ABBVIE INC ABBV 0.05 253955 BBG0025Y4RY4 1103
EVERSOURCE ENERGY ES 0.05 228586 BBG000BQ87N0 3465
WORKDAY INC-CLASS A WDAY 0.05 259742 BBG000VC0T95 1209
ASTRAZENECA PLC-SPONS ADR AZN 0.05 267462 BBG000BZ0DK8 2944
Datadog Inc. Class A DDOG 0.05 250263 BBG003NJHZT9 1606
STANLEY BLACK & DECKER INC SWK 0.05 252404 BBG000BTQR96 3480
ELECTRONIC ARTS INC EA 0.05 257467 BBG000BP0KQ8 1267
PAYCHEX INC PAYX 0.04 213627 BBG000BQSQ38 1884
EXELON CORP EXC 0.04 226352 BBG000J6XT05 5082
AVALONBAY COMMUNITIES INC AVB 0.04 199309 BBG000BLPBL5 1098
AXON ENTERPRISE INC AXON 0.04 214702 BBG000BHJWG1 395
Zscaler Inc. ZS 0.04 220756 BBG003338H34 906
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 195723 BBG000BBDV81 2470
EXTRA SPACE STORAGE INC EXR 0.04 198492 BBG000PV27K3 1501
KEURIG DR PEPPER INC KDP 0.04 185646 BBG000TJM7F0 6553
COPART INC CPRT 0.04 190792 BBG000BM9RH1 4911
VICI PROPERTIES INC REIT VICI 0.04 196260 BBG00HVVB499 6935
DIAMONDBACK ENERGY INC FANG 0.04 222682 BBG002PHSYX9 1406
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 188328 BBG01BFR8YV1 2253
International Business Machines Corporation IBM 0.04 204571 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 211322 BBG00B6BFWH9 2306
MICROCHIP TECHNOLOGY INC MCHP 0.03 168694 BBG000BHCP19 2652
KRAFT HEINZ CO/THE KHC 0.03 146826 BBG005CPNTQ2 5866
Old Dominion Freight Line Inc. ODFL 0.03 156530 BBG000CHSS88 1037
VERISK ANALYTICS INC VRSK 0.03 150402 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 132771 BBG01BGWHFR5 847
COSTAR GROUP INC CSGP 0.03 141974 BBG000D7JKW9 2057
CHARTER COMMUNICATIONS INC-A CHTR 0.03 135569 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 150795 BBG000BG8M31 2431
IRON MOUNTAIN INC IRM 0.03 146731 BBG000KCZPC3 1741
BIOGEN INC BIIB 0.03 133755 BBG000C17X76 740
DEXCOM INC DXCM 0.03 129311 BBG000QTF8K1 1994
AFLAC INC AFL 0.03 142406 BBG000BBBNC6 1306
Sun Communities Inc SUI 0.02 98433.8 BBG000BLJWF3 773
GLOBALFOUNDRIES INC GFS 0.02 102843 BBG000C2L5G9 2700
ESSEX PROPERTY TRUST INC ESS 0.02 98976.2 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 109442 BBG000DV7MX4 1915
MID-AMERICA APARTMENT COMM MAA 0.02 99275.8 BBG000BLMY92 738
LULULEMON ATHLETICA INC LULU 0.02 105734 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 94397.8 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 122523 BBG000BFS7D3 1165
KIMCO REALTY CORP KIM 0.02 98702.8 BBG000CN3S73 4836
Omega Healthcare Investors Inc OHI 0.02 99354 BBG000BGBTC2 2175
ARM HOLDINGS PLC ARM 0.02 88803.2 BBG01J1GXZF0 638
TRADE DESK INC/THE -CLASS A TTD 0.02 84131.2 BBG00629NGT2 2179
INVITATION HOMES INC REIT USD.01 INVH 0.02 98441.9 BBG00FQH6BS9 3559
W. P. CAREY REIT INC WPC 0.02 98553.2 BBG000BCQM58 1480
AO Smith Corp AOS 0.01 50893.9 BBG000BC1L02 756
AIR PRODUCTS & CHEMICALS INC APD 0.01 50247.6 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 48514.4 BBG000BHLYS1 503
JOHNSON & JOHNSON JNJ 0.01 49689.9 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 49541.3 BBG000BNSZP1 161
Solstice Advanced Materials Inc. SOLSV 0.00 6909.54 BBG01X5744P5 145.25

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.