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 01/09/2026
TICKER RAA
NET ASSETS $522M
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 $28.07
30 DAY MEDIAN BID-ASK SPREAD 0.000363

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 0.22% 0.22% 2.57% 2.57% - - 12.32% 12.32%
RAA - Market Price 0.23% 0.23% 2.59% 2.59% - - 12.36% 12.36%
S&P 500 Index Total Return 0.06% 0.06% 2.65% 2.65% - - 16.19% 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 01/09/2026

NET ASSET VALUE

$28.07

CLOSING PRICE

$28.07

PREMIUM/DISCOUNT

0.01%
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 4
Discount 0 5 13 16 1

Asset Allocation

As of 1/9/2026

Equities

58.02%
Nasdaq
28.85%
US Large Cap
16.96%
US Small Cap
4.13%
Dividend Payers
3.99%
Japan
2.06%
Emerging Ex. China
1.02%
Europe
1.01%

Fixed Income

20.89%
High Yield
5.91%
Corporate Bonds
4.91%
Emerging Mkt Bonds
3.92%
TIPS
2.95%
Long Term Treasuries
1.97%
T-Bills
1.23%

Alternatives

21.09%
Managed Futures
8.96%
Gold
5.11%
Miners
4.04%
Bitcoin
1.01%
Commodities
1.00%
Real Estate
0.97%
Energy
0.00%

Holdings

As of 01/09/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 16.96 88518300 BBG00RYR67P4 665151
iM DBi Managed Futures Strategy ETF DBMF 8.96 46780800 N/A 1641430
Schwab High Yield Bond ETF SCYB 5.91 30855800 BBG01F80WX71 1161300
SPROTT PHYSICAL GOLD TRUS PHYS 5.11 26658100 BBG000Q83F79 774720
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.91 25619400 BBG000PWYVH7 305320
VANGUARD SMALL-CAP ETF VB 4.13 21575500 BBG000HT3Z79 79383
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.92 20479800 BBG000NXKWH0 212534
SCHWAB U.S. TIPS ETF SCHP 2.95 15380400 BBG000BGN6P5 579301
NVIDIA CORP NVDA 2.54 13256300 BBG000BBJQV0 71710
APPLE INC AAPL 2.16 11287800 BBG000B9XRY4 43520
Franklin FTSE Japan ETF FLJP 2.06 10740000 BBG00J3MDY16 297260
MICROSOFT CORP MSFT 2.01 10489000 BBG000BPH459 21885
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.97 10302200 BBG00PZFJPC3 322651
AMAZON.COM INC AMZN 1.49 7779610 BBG000BVPV84 31448
Tesla Inc. TSLA 1.13 5887480 BBG000N9MNX3 13230
ALPHABET INC-CL A GOOGL 1.07 5608360 BBG009S39JX6 17069
META PLATFORMS INC META 1.07 5593460 BBG000MM2P62 8565
ISHARES MSCI EMR MRK EX CHNA EMXC 1.02 5343230 BBG00H5VLMJ6 70204
ISHARES MSCI GLOBAL METALS & PICK 1.02 5318570 BBG002GKR8T5 97714
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.01 5270080 N/A 131950
Franklin FTSE Europe ETF FLEE 1.01 5260020 BBG00J3PR1S7 140043
INVESCO OPTIMUM YIELD DIVERS PDBC 1.00 5223540 N/A 385217
ALPHABET INC-CL C GOOG 1.00 5215550 BBG009S3NB30 15846
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5105340 BBG01922X0X9 102250
Broadcom Inc. AVGO 0.92 4821300 BBG00KHY5S69 13976
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.65 3392900 BBG000N7QR55 19116
COSTCO WHOLESALE CORP COST 0.64 3323090 BBG000F6H8W8 3593
MICRON TECHNOLOGY INC MU 0.62 3226250 BBG000C5Z1S3 9349
NETFLIX INC NFLX 0.59 3066870 BBG000CL9VN6 34282
ADVANCED MICRO DEVICES INC AMD 0.52 2688550 BBG000BBQCY0 13233
CISCO SYSTEMS INC CSCO 0.46 2390390 BBG000C3J3C9 32355
ISHARES MSCI GLOBAL GOLD MIN RING 0.45 2333610 BBG002GKR6T9 29361
BHP GROUP LTD BHP 0.44 2302900 BBG000BD5NZ4 37312
LAM RESH CORP LRCX 0.43 2269630 BBG000BNFLM9 10394
APPLIED MATERIALS INC AMAT 0.38 1980860 BBG000BBPFB9 6577
AUTOMATIC DATA PROCESSING ADP 0.37 1932100 BBG000JG0547 7263
T-MOBILE US INC TMUS 0.35 1807850 BBG000NDV1D4 9014
FREEPORT-MCMORAN INC FCX 0.34 1766000 BBG000BJDB15 31240
SHOPIFY INC - CLASS A SHOP 0.33 1697760 BBG008HBD923 10322
INTUITIVE SURGICAL INC ISRG 0.33 1702440 BBG000BJPDZ1 2904
INTEL CORP INTC 0.33 1740100 BBG000C0G1D1 38202
NEWMONT GOLDCORP CORPORATION COM NEM 0.33 1732940 BBG000BPWXK1 15900
LINDE PLC LIN 0.32 1658640 BBG01FND0CC1 3735
APPLOVIN CORP APP 0.32 1667230 BBG006HFPX77 2574
AGNICO EAGLE MINES LTD AEM 0.31 1615900 BBG000DLVDK3 8454
PEPSICO INC PEP 0.30 1552160 BBG000DH7JK6 11094
QUALCOMM INC QCOM 0.30 1557180 BBG000CGC1X8 8759
KLA CORPORATION KLAC 0.29 1534400 BBG000BMTFR4 1096
BOOKING HOLDINGS INC BKNG 0.28 1449920 BBG000BLBVN4 264
FASTENAL CO FAST 0.28 1474170 BBG000BJ8YN7 35116
INTUIT INC INTU 0.28 1478810 BBG000BH5DV1 2286
TEXAS INSTRUMENTS INC TXN 0.27 1416670 BBG000BVV7G1 7444
AMGEN INC AMGN 0.27 1424080 BBG000BBS2Y0 4367
RIO TINTO PLC-SPON ADR RIO 0.26 1338560 BBG000FD28T3 16499
Barrick Mining Corp. B 0.24 1269930 N/A 26562
GILEAD SCIENCES INC GILD 0.24 1237520 BBG000CKGBP2 10219
ANALOG DEVICES INC ADI 0.23 1201610 BBG000BB6G37 3993
REALTY INCOME CORP O 0.23 1188990 BBG000DHPN63 20440
CLOROX COMPANY CLX 0.21 1075280 BBG000BFS7D3 10126
FRANKLIN RESOURCES INC BEN 0.21 1098150 BBG000BD0TF8 42796
PALO ALTO NETWORKS INC PANW 0.21 1080820 BBG0014GJCT9 5718
STANLEY BLACK & DECKER INC SWK 0.21 1118310 BBG000BTQR96 13580
AIR PRODUCTS & CHEMICALS INC APD 0.21 1094970 BBG000BC4JJ4 4152
ADOBE SYSTEMS INC ADBE 0.21 1121740 BBG000BB5006 3359
AMCOR PLC AMCR 0.20 1052820 BBG00LNJRQ09 121713
HONEYWELL INTERNATIONAL INC HON 0.20 1062820 BBG000H556T9 5125
MEDTRONIC PLC MDT 0.20 1030310 BBG000BNWG87 10564
T ROWE PRICE GROUP INC TROW 0.20 1057220 BBG000BVMPN3 9852
ILLINOIS TOOL WORKS ITW 0.20 1044720 BBG000BMBL90 4095
KENVUE INC KVUE 0.19 991708 BBG01C79X561 58925
Crowdstrike Holdings Inc. Class A CRWD 0.19 966633 BBG00BLYKS03 2054
HORMEL FOODS CORP HRL 0.19 976770 BBG000BLF8D2 42584
GENUINE PARTS CO GPC 0.19 980389 BBG000BKL348 7639
Kimberly-Clark Corp KMB 0.19 984194 BBG000BMW2Z0 10051
VERTEX PHARMACEUTICALS INC VRTX 0.18 951841 BBG000C1S2X2 2052
CONSTELLATION ENERGY CORPORATION CEG 0.17 865891 BBG014KFRNP7 2528
GLENCORE PLC -UNSP ADR GLNCY 0.17 904854 BBG001VKX1Z1 75154
ABBVIE INC ABBV 0.17 879880 BBG0025Y4RY4 3998
CONSOLIDATED EDISON INC ED 0.17 894477 BBG000BHLYS1 9016
ASML HOLDING NV-NY REG SHS ASML 0.17 890442 BBG000K6MRN4 699
FRANCO-NEVADA CORP FNV 0.17 897694 BBG000RD3CL8 3924
MERCADOLIBRE INC MELI 0.17 886613 BBG000GQPB11 407
COMCAST CORP-CLASS A CMCSA 0.16 827411 BBG000BFT2L4 29165
STARBUCKS CORP SBUX 0.16 818496 BBG000CTQBF3 9209
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.16 857712 BBG000PVRDL2 6876
International Business Machines Corporation IBM 0.16 849686 BBG000BLNNH6 2793
VALE SA-SP ADR VALE 0.16 817357 BBG000BN5LG7 58508
Anglo American PLC NGLOD 0.15 759326 N/A 35154
SYNOPSYS INC SNPS 0.15 787244 BBG000BSFRF3 1499
DOORDASH INC CLASS A DASH 0.14 713288 BBG005D7QCJ3 3309
Marriott International, Inc Class A MAR 0.14 710510 BBG000BGD7W6 2165
CADENCE DESIGN SYS INC CDNS 0.14 720409 BBG000C13CD9 2201
WELLTOWER INC WELL 0.13 694823 BBG000BKY1G5 3734
REGENERON PHARMACEUTICALS REGN 0.13 670695 BBG000C734W3 842
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.12 643134 BBG00LBLDDR2 5335
CINCINNATI FINANCIAL CORP CINF 0.12 613494 BBG000BFPK65 3764
MONSTER BEVERAGE CORP MNST 0.12 606655 BBG008NVB1C0 7844
CHEVRON CORP CVX 0.12 616829 BBG000K4ND22 3805
PROLOGIS INC PLD 0.12 614779 BBG000B9Z0J8 4751
CINTAS CORP CTAS 0.12 630923 BBG000H3YXF8 3267
OREILLY AUTOMOTIVE INC ORLY 0.12 638028 BBG000BGYWY6 6802
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.11 562441 BBG00CMNZNK7 562441
Warner Bros Discovery Inc WBD 0.11 576574 BBG011386VF4 19961
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 568393 BBG00ZXBJ153 6830
MONDELEZ INTERNATIONAL INC-A MDLZ 0.11 585992 BBG000D4LWF6 10637
WESTERN DIGITAL CORP WDC 0.11 555876 BBG000BWNFZ9 2773
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.10 530193 BBG0113JGQF0 1744
AMERICAN ELECTRIC POWER AEP 0.10 507156 BBG000BB9KF2 4338
ROSS STORES INC ROST 0.10 499658 BBG000BSBZH7 2610
CSX CORP CSX 0.10 529760 BBG000BGJRC8 15050
PACCAR INC PCAR 0.10 507038 BBG000BQVTF5 4268
THOMSON REUTERS CORP COMMON STOCK TRI 0.09 460705 N/A 3565
AIRBNB INC ABNB 0.09 481735 BBG001Y2XS07 3459
NXP Semiconductors NV NXPI 0.09 486158 BBG000BND699 2016
AUTODESK INC ADSK 0.09 477239 BBG000BM7HL0 1729
IDEXX LABS IDXX 0.09 460824 BBG000BLRT07 646
FORTINET INC FTNT 0.09 482212 BBG000BCMBG4 6087
EQUINIX INC EQIX 0.09 477809 BBG000MBDGM6 597
TARGET CORP TGT 0.09 444239 BBG000H8TVT2 4210
FERROVIAL SE FER 0.08 393323 BBG01H7CZ9S9 5928
AXON ENTERPRISE INC AXON 0.08 405545 BBG000BHJWG1 642
PAYPAL HOLDINGS INC PYPL 0.08 433603 BBG0077VNXV6 7520
ASTRAZENECA PLC-SPONS ADR AZN 0.08 439460 BBG000BZ0DK8 4643
ALNYLAM PHARMACEUTICALS INC ALNY 0.08 429755 BBG000BFGNJ5 1079
ELECTRONIC ARTS INC EA 0.08 413507 BBG000BP0KQ8 2026
Baker Hughes Company BKR 0.07 385419 BBG00GBVBK51 7713
WORKDAY INC-CLASS A WDAY 0.07 353458 BBG000VC0T95 1706
DIGITAL REALTY TRUST INC DLR 0.07 362604 BBG000Q5ZRM7 2287
ROPER TECHNOLOGIES INC ROP 0.07 371763 BBG000F1ZSN5 855
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 366327 BBG000C30L48 382
SIMON PROPERTY GROUP INC SPG 0.07 354605 BBG000BJ2D31 1920
EXELON CORP EXC 0.07 350340 BBG000J6XT05 8091
XCEL ENERGY INC XEL 0.07 355705 BBG000BCTQ65 4790
MICROSTRATEGY INC-CL A MSTR 0.07 343609 BBG000GQJPZ0 2184
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.07 374561 BBG000BS1YV5 1494
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.06 325904 BBG01BFR8YV1 3734
Datadog Inc. Class A DDOG 0.06 324266 BBG003NJHZT9 2584
KEURIG DR PEPPER INC KDP 0.06 306996 BBG000TJM7F0 11047
INSMED INC INSM 0.06 299149 BBG000BWM5P3 1700
PAYCHEX INC PAYX 0.06 326406 BBG000BQSQ38 2869
COPART INC CPRT 0.06 313582 BBG000BM9RH1 7873
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 330113 BBG00B6BFWH9 3720
Old Dominion Freight Line Inc. ODFL 0.06 289473 BBG000CHSS88 1672
MICROCHIP TECHNOLOGY INC MCHP 0.06 326981 BBG000BHCP19 4347
PUBLIC STORAGE PSA 0.06 328217 BBG000BPPN67 1180
COGNIZANT TECH SOLUTIONS-A CTSH 0.06 330212 BBG000BBDV81 3873
DIAMONDBACK ENERGY INC FANG 0.06 332115 BBG002PHSYX9 2253
AO Smith Corp AOS 0.06 291036 BBG000BC1L02 4127
Zscaler Inc. ZS 0.05 281316 BBG003338H34 1298
VERISK ANALYTICS INC VRSK 0.05 251854 BBG000BCZL41 1120
Ventas Inc. VTR 0.05 240054 BBG000FRVHB9 3205
PPG INDUSTRIES INC PPG 0.05 247473 BBG000BRJ809 2304
ATLASSIAN CORP PLC-CLASS A TEAM 0.04 198985 BBG01BGWHFR5 1359
VICI PROPERTIES INC REIT VICI 0.04 197013 BBG00HVVB499 7097
COSTAR GROUP INC CSGP 0.04 204072 BBG000D7JKW9 3489
MCDONALDS CORP MCD 0.04 202217 BBG000BNSZP1 658
EXTRA SPACE STORAGE INC EXR 0.04 213950 BBG000PV27K3 1537
AVALONBAY COMMUNITIES INC AVB 0.04 200177 BBG000BLPBL5 1116
KRAFT HEINZ CO/THE KHC 0.04 227244 BBG005CPNTQ2 9703
DEXCOM INC DXCM 0.04 208401 BBG000QTF8K1 3092
JOHNSON & JOHNSON JNJ 0.04 201324 BBG000BMHYD1 985
NEXTERA ENERGY INC NEE 0.04 202441 BBG000BJSBJ0 2534
CHARTER COMMUNICATIONS INC-A CHTR 0.04 222804 BBG000VPGNR2 1058
EQUITY RESIDENTIAL EQR 0.03 150193 BBG000BG8M31 2485
IRON MOUNTAIN INC IRM 0.03 158491 BBG000KCZPC3 1777
INVITATION HOMES INC REIT USD.01 INVH 0.02 96221.5 BBG00FQH6BS9 3631
Sun Communities Inc SUI 0.02 99753 BBG000BLJWF3 791
MID-AMERICA APARTMENT COMM MAA 0.02 102740 BBG000BLMY92 756
ESSEX PROPERTY TRUST INC ESS 0.02 95638.6 BBG000CGJMB9 381
KIMCO REALTY CORP KIM 0.02 100907 BBG000CN3S73 4944
Omega Healthcare Investors Inc OHI 0.02 97881 BBG000BGBTC2 2211
W. P. CAREY REIT INC WPC 0.02 100814 BBG000BCQM58 1516
Versant Media Group Inc VSNT 0.00 42.67 BBG01Y0M8K11 1.24
Solstice Advanced Materials Inc. SOLSV 0.00 7702.61 BBG01X5744P5 145.25
Cash & Other Cash&Other 0.00 -15909.7 N/A -15909.7

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.