RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 10/23/2026
TICKER RAA
NET ASSETS $611M
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 $30.06
30 DAY MEDIAN BID-ASK SPREAD 0.000666

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
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 10/23/2026

NET ASSET VALUE

$30.06

CLOSING PRICE

$30.06

PREMIUM/DISCOUNT

0.00%
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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 4
Discount 16 8 14 21 9

Asset Allocation

As of 10/23/2026

Equities

40.85%
Nasdaq
17.03%
US Large Cap
14.89%
US Small Cap
3.00%
Dividend Payers
2.14%
Emerging Ex. China
1.84%
Europe
0.99%
Japan
0.96%

Fixed Income

29.41%
Long Term Treasuries
8.31%
Corporate Bonds
6.07%
High Yield
5.98%
Emerging Mkt Bonds
4.03%
TIPS
3.05%
T-Bills
1.97%

Alternatives

29.74%
Commodities
10.49%
Energy
5.63%
Managed Futures
5.02%
Miners
3.70%
Real Estate
2.02%
Gold
1.92%
Bitcoin
0.96%

Holdings

As of 10/23/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.89 90965900 BBG00RYR67P4 1874040
INVESCO OPTIMUM YIELD DIVERS PDBC 10.49 64059100 N/A 3149410
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.31 50781300 BBG00PZFJPC3 1715580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.07 37059300 BBG000PWYVH7 467625
SCHWAB HIGH YIELD BOND ETF SCYB 5.98 36526200 BBG01F80WX71 1453490
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.03 24605600 BBG000NXKWH0 268474
iM DBi Managed Futures Strategy ETF DBMF 3.53 21535200 N/A 657965
SCHWAB U.S. TIPS ETF SCHP 3.05 18619400 BBG000BGN6P5 726467
Vanguard Morningstar Small-Cap ETF VB 3.00 18328400 BBG000HT3Z79 63813
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 12203300 BBG01922X0X9 244114
SPROTT PHYSICAL GOLD TRUS PHYS 1.92 11739100 BBG000Q83F79 388713
ISHARES MSCI EMR MRK EX CHNA EMXC 1.84 11260100 BBG00H5VLMJ6 122779
Simplify DBi CTA Managed Futures Index ETF SDMF 1.49 9108460 BBG020BR8WR7 334053
NVIDIA CORP NVDA 1.37 8355910 BBG000BBJQV0 39609
APPLE INC AAPL 1.35 8249430 BBG000B9XRY4 23724
MICROSOFT CORP MSFT 1.04 6370170 BBG000BPH459 12145
Franklin FTSE Europe ETF FLEE 0.99 6042790 BBG00J3PR1S7 160627
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.96 5868300 N/A 163508
Franklin FTSE Japan ETF FLJP 0.96 5857570 BBG00J3MDY16 146074
BHP GROUP LTD BHP 0.78 4740830 BBG000BD5NZ4 60897
MICRON TECHNOLOGY INC MU 0.74 4533420 BBG000C5Z1S3 5166
AMAZON.COM INC AMZN 0.72 4381170 BBG000BVPV84 17666
CHEVRON CORP CVX 0.64 3886440 BBG000K4ND22 16665
ADVANCED MICRO DEVICES INC AMD 0.63 3845430 BBG000BBQCY0 7441
Suncor Energy Inc. SU 0.58 3519310 BBG000BC1LY5 44335
OCCIDENTAL PETROLEUM CORP OXY 0.58 3541090 BBG000BQQ2S6 55183
MARATHON PETROLEUM CORP MPC 0.57 3489500 BBG001DCCGR8 7632
CANADIAN NATURAL RESOURCES CNQ 0.57 3508150 BBG000HW5GX3 63715
EQT CORP EQT 0.57 3454460 BBG000BHZ5J9 62097
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.56 3411370 BBG023CY9MM1 18620
Cheniere Energy Inc LNG 0.56 3396770 BBG000C3HSR0 11373
SCHLUMBERGER LTD SLB 0.54 3286540 BBG000BT41Q8 61940
Tesla Inc. TSLA 0.53 3233850 BBG000N9MNX3 8688
WILLIAMS COMPANIES INC. WMB 0.53 3222560 BBG000BWVCP8 44945
META PLATFORMS INC META 0.52 3202820 BBG000MM2P62 4984
ALPHABET INC-CL A GOOGL 0.50 3038470 BBG009S39JX6 9489
SPACE EXPLORATION TECH CORP A SPCX 0.47 2886380 BBG000NQF3Z5 19570
ALPHABET INC-CL C GOOG 0.46 2835210 BBG009S3NB30 8936
NEWMONT GOLDCORP CORPORATION COM NEM 0.45 2739390 BBG000BPWXK1 25162
WAL-MART STORES INC WMT 0.45 2763460 BBG000BWXBC2 23050
Broadcom Inc. AVGO 0.43 2621050 BBG00KHY5S69 8148
FREEPORT-MCMORAN INC FCX 0.36 2170690 BBG000BJDB15 33303
COSTCO WHOLESALE CORP COST 0.35 2124030 BBG000F6H8W8 2117
RIO TINTO PLC-SPON ADR RIO 0.34 2078830 BBG000FD28T3 24920
AGNICO EAGLE MINES LTD AEM 0.34 2065710 BBG000DLVDK3 11876
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 2045020 BBG000N7QR55 10394
INTEL CORP INTC 0.33 2021300 BBG000C0G1D1 23244
CISCO SYSTEMS INC CSCO 0.31 1903260 BBG000C3J3C9 17871
WELLTOWER INC WELL 0.28 1734330 BBG000BKY1G5 7308
GLENCORE PLC -UNSP ADR GLNCY 0.25 1542790 BBG001VKX1Z1 107812
Barrick Mining Corp. B 0.24 1482390 N/A 38867
APPLIED MATERIALS INC AMAT 0.23 1386360 BBG000BBPFB9 3675
LAM RESH CORP LRCX 0.22 1315940 BBG000BNFLM9 5719
NUCOR CORP NUE 0.22 1321270 BBG000BQ8KV2 5119
PALO ALTO NETWORKS INC PANW 0.22 1373020 BBG0014GJCT9 3608
NETFLIX INC NFLX 0.21 1263920 BBG000CL9VN6 19194
REALTY INCOME CORP O 0.21 1270350 BBG000DHPN63 22330
PROLOGIS INC PLD 0.21 1312800 BBG000B9Z0J8 10382
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1258100 BBG000PVRDL2 10407
AUTOMATIC DATA PROCESSING ADP 0.21 1260130 BBG000JG0547 4143
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.20 1213640 N/A 49862
PEPSICO INC PEP 0.20 1237140 BBG000DH7JK6 9112
TEXAS INSTRUMENTS INC TXN 0.20 1231570 BBG000BVV7G1 4326
Crowdstrike Holdings Inc. Class A CRWD 0.19 1187140 BBG00BLYKS03 4609
AMGEN INC AMGN 0.19 1133290 BBG000BBS2Y0 2580
LINDE PLC LIN 0.18 1119930 BBG01FND0CC1 2201
EQUINIX INC EQIX 0.18 1090640 BBG000MBDGM6 1142
FRANCO-NEVADA CORP FNV 0.16 999866 BBG000TRN6Z1 4371
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 913354 BBG00ZXBJ153 3997
SHOPIFY INC - CLASS A SHOP 0.15 919306 BBG004DW5NB8 5450
ANALOG DEVICES INC ADI 0.15 901416 BBG000BB6G37 2305
KLA CORPORATION KLAC 0.15 914722 BBG000BMTFR4 6282
VALE SA-SP ADR VALE 0.15 902906 BBG000BN5LG7 72815
GILEAD SCIENCES INC GILD 0.15 923445 BBG000CKGBP2 5918
QUALCOMM INC QCOM 0.14 854219 BBG000CGC1X8 4856
SIMON PROPERTY GROUP INC SPG 0.14 871281 BBG000BJ2D31 4117
SANDISK CORP/DE SNDKV SNDK 0.13 799767 BBG01R388JG1 646
T-MOBILE US INC TMUS 0.13 764646 BBG000NDV1D4 5218
INTUITIVE SURGICAL INC ISRG 0.13 765727 BBG000BJPDZ1 1693
DIGITAL REALTY TRUST INC DLR 0.13 789455 BBG000Q5ZRM7 4580
PUBLIC STORAGE PSA 0.13 809743 BBG000BPPN67 2613
Vivmark Residential VMRK 0.12 748544 BBG000BG8M31 11876
Ventas Inc. VTR 0.12 740057 BBG000FRVHB9 8526
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 666336 N/A 14451
KENVUE INC KVUE 0.11 667728 BBG01C79X561 34120
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 673363 BBG0113JGQF0 1068
HORMEL FOODS CORP HRL 0.11 648269 BBG000BLF8D2 30782
CLOROX COMPANY CLX 0.11 648518 BBG000BFS7D3 7506
ABBVIE INC ABBV 0.11 669540 BBG0025Y4RY4 2344
ASML HOLDING NV-NY REG SHS ASML 0.11 652297 BBG000K6MRN4 415
MEDTRONIC PLC MDT 0.11 666820 BBG000BNWG87 6989
International Business Machines Corporation IBM 0.11 663566 BBG000BLNNH6 2617
Kimberly-Clark Corp KMB 0.11 680397 BBG000BMW2Z0 6177
STANLEY BLACK & DECKER INC SWK 0.11 672649 BBG000BTQR96 6778
AO Smith Corp AOS 0.11 652195 BBG000BC1L02 10579
FORTINET INC FTNT 0.10 617366 BBG000BCMBG4 3430
FRANKLIN RESOURCES INC BEN 0.10 588370 BBG000BD0TF8 18943
T ROWE PRICE GROUP INC TROW 0.10 608215 BBG000BVMPN3 5837
VERTEX PHARMACEUTICALS INC VRTX 0.10 630812 BBG000C1S2X2 1204
BOOKING HOLDINGS INC BKNG 0.09 535899 BBG000BLBVN4 3439
GENUINE PARTS CO GPC 0.09 565523 BBG000BKL348 4597
EVERSOURCE ENERGY ES 0.09 535363 BBG000BQ87N0 7936
STARBUCKS CORP SBUX 0.09 556114 BBG000CTQBF3 5517
IRON MOUNTAIN INC IRM 0.09 544742 BBG000KCZPC3 4954
ILLINOIS TOOL WORKS ITW 0.09 544882 BBG000BMBL90 1976
WESTERN DIGITAL CORP WDC 0.09 580115 BBG000BWNFZ9 1688
PPG INDUSTRIES INC PPG 0.09 531370 BBG000BRJ809 4804
EXTRA SPACE STORAGE INC EXR 0.08 496485 BBG000PV27K3 3462
CSX CORP CSX 0.08 458634 BBG000BGJRC8 9030
Marriott International, Inc Class A MAR 0.08 501281 BBG000BGD7W6 1283
ADOBE SYSTEMS INC ADBE 0.08 501786 BBG000BB5006 1902
ARM HOLDINGS PLC ARM 0.07 424446 BBG01J1GXZF0 2018
CONSTELLATION ENERGY CORPORATION CEG 0.07 437201 BBG014KFRNP7 1725
Datadog Inc. Class A DDOG 0.07 425238 BBG003NJHZT9 1577
VICI PROPERTIES INC REIT VICI 0.07 426278 BBG00HVVB499 17941
MONSTER BEVERAGE CORP MNST 0.07 441345 BBG008NVB1C0 9555
ERIE INDEMNITY COMPANY-CL A ERIE 0.07 404871 BBG000BBTJZ1 1597
CINTAS CORP CTAS 0.07 433185 BBG000H3YXF8 1933
MERCADOLIBRE INC MELI 0.07 429006 BBG000GQPB11 237
INTUIT INC INTU 0.07 445720 BBG000BH5DV1 1298
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 337254 BBG022XF4SZ9 1525
APPLOVIN CORP APP 0.06 384389 BBG006HFPX77 1477
DOORDASH INC CLASS A DASH 0.06 352482 BBG005D7QCJ3 1965
AIRBNB INC ABNB 0.06 354169 BBG001Y2XS07 2059
SYNOPSYS INC SNPS 0.06 393578 BBG000BSFRF3 915
COMCAST CORP-CLASS A CMCSA 0.06 391970 BBG000BFT2L4 17275
AMERICAN ELECTRIC POWER AEP 0.06 340696 BBG000BB9KF2 2627
ROSS STORES INC ROST 0.06 349912 BBG000BSBZH7 1526
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 393455 BBG000D4LWF6 6167
REGENERON PHARMACEUTICALS REGN 0.06 381579 BBG000C734W3 474
OREILLY AUTOMOTIVE INC ORLY 0.06 353565 BBG000BGYWY6 3932
CADENCE DESIGN SYS INC CDNS 0.06 394663 BBG000C13CD9 1247
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 283130 BBG00CMNZNK7 283130
NXP Semiconductors NV NXPI 0.05 280964 BBG000BND699 1196
LUMENTUM HOLDINGS INC LITE 0.05 319104 BBG0073F9RT7 422
FASTENAL CO FAST 0.05 287114 BBG000BJ8YN7 5531
HOST HOTELS & RESORTS INC HST 0.05 283959 BBG000BL8804 11487
ESSEX PROPERTY TRUST INC ESS 0.05 293938 BBG000CGJMB9 1056
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 247415 BBG020QYV152 1515
THOMSON REUTERS CORP TRI 0.04 225401 N/A 1830
HEALTHPEAK PROPERTIES INC DOC 0.04 222549 BBG000BKYDP9 11561
KEURIG DR PEPPER INC KDP 0.04 228541 BBG000TJM7F0 6590
Baker Hughes Company BKR 0.04 256677 BBG00GBVBK51 4595
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 255141 BBG00LBLDDR2 3228
INVITATION HOMES INC REIT USD.01 INVH 0.04 272729 BBG00FQH6BS9 9903
AUTODESK INC ADSK 0.04 254722 BBG000BM7HL0 1010
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 237530 BBG00B6BFWH9 2143
PAYPAL HOLDINGS INC PYPL 0.04 242791 BBG0077VNXV6 4258
TERADYNE INC TER 0.04 226696 BBG000BV4DR6 734
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 247406 BBG000C30L48 217
MID-AMERICA APARTMENT COMM MAA 0.04 228540 BBG000BLMY92 1908
KIMCO REALTY CORP KIM 0.04 258639 BBG000CN3S73 10950
Omega Healthcare Investors Inc OHI 0.04 230225 BBG000BGBTC2 4980
W. P. CAREY REIT INC WPC 0.04 239242 BBG000BCQM58 3744
EXELON CORP EXC 0.04 218684 BBG000J6XT05 4922
XCEL ENERGY INC XEL 0.04 235321 BBG000BCTQ65 3015
MICROSTRATEGY INC-CL A MSTR 0.04 221643 BBG000GQJPZ0 1518
DIAMONDBACK ENERGY INC FANG 0.04 271590 BBG002PHSYX9 1320
PACCAR INC PCAR 0.04 273497 BBG000BQVTF5 2557
ASTERA LABS INC ALAB 0.03 193384 BBG00TDKHW99 752
FERROVIAL SA FER 0.03 172131 BBG01H0DF657 3466.88
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 155618 BBG01BFR8YV1 2178
Nebius Group NV NBIS 0.03 169852 BBG001NVJ6W4 1070
AXON ENTERPRISE INC AXON 0.03 163944 BBG000BHJWG1 390
WORKDAY INC-CLASS A WDAY 0.03 207260 BBG000VC0T95 987
PAYCHEX INC PAYX 0.03 200748 BBG000BQSQ38 1718
IDEXX LABS IDXX 0.03 202858 BBG000BLRT07 362
ROPER TECHNOLOGIES INC ROP 0.03 196725 BBG000F1ZSN5 449
Old Dominion Freight Line Inc. ODFL 0.03 180508 BBG000CHSS88 988
MICROCHIP TECHNOLOGY INC MCHP 0.03 193493 BBG000BHCP19 2613
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 193302 BBG000BS1YV5 949
ROCKET LAB CORP RKLB 0.02 146859 BBG01V7JN3F3 2792
COREWEAVE INC CRWV 0.02 115846 BBG011ZTRJ21 2136
COPART INC CPRT 0.02 127542 BBG000BM9RH1 4398
CONSOLIDATED EDISON INC ED 0.02 135994 BBG000BHLYS1 1175
MCDONALDS CORP MCD 0.02 129199 BBG000BNSZP1 520
DEXCOM INC DXCM 0.02 144579 BBG000QTF8K1 1855
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 138543 BBG000B9ZXB4 1336
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 136658 BBG000BFGNJ5 610
AIR PRODUCTS & CHEMICALS INC APD 0.02 132382 BBG000BC4JJ4 431
Cash & Other Cash&Other -0.04 -271675 N/A -271675

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.