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 06/11/2026
TICKER RAA
NET ASSETS $594M
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 $29.79
30 DAY MEDIAN BID-ASK SPREAD 0.000669

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 6.72% -3.97% 4.53% 0.68% 7.44% 0.68% 17.36% 11.92%
RAA - Market Price 6.81% -3.98% 4.39% 0.63% 7.28% 0.63% 17.22% 11.89%
S&P 500 Index Total Return 10.49% -4.98% 4.19% -4.33% 5.70% -4.33% 19.15% 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 06/11/2026

NET ASSET VALUE

$29.79

CLOSING PRICE

$29.79

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 34
Discount 5 13 16 8 9

Asset Allocation

As of 6/11/2026

Equities

42.03%
Nasdaq
16.87%
US Large Cap
14.93%
Dividend Payers
3.16%
US Small Cap
2.04%
Japan
2.01%
Emerging Ex. China
2.00%
Europe
1.02%

Fixed Income

19.45%
High Yield
6.09%
Emerging Mkt Bonds
4.07%
Corporate Bonds
4.06%
TIPS
3.03%
T-Bills
1.18%
Long Term Treasuries
1.02%

Alternatives

38.52%
Managed Futures
10.13%
Commodities
10.00%
Energy
5.13%
Gold
4.68%
Miners
3.87%
Bitcoin
2.64%
Real Estate
2.07%

Holdings

As of 06/11/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.93 88727200 BBG00RYR67P4 626870
INVESCO OPTIMUM YIELD DIVERS PDBC 10.00 59436800 N/A 3447610
iM DBi Managed Futures Strategy ETF DBMF 9.12 54187900 N/A 1762780
SCHWAB HIGH YIELD BOND ETF SCYB 6.09 36182900 BBG01F80WX71 1383670
SPROTT PHYSICAL GOLD TRUS PHYS 4.68 27821400 BBG000Q83F79 877925
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.07 24212900 BBG000NXKWH0 251510
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.06 24139500 BBG000PWYVH7 292565
SCHWAB U.S. TIPS ETF SCHP 3.03 17998400 BBG000BGN6P5 678415
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.64 15680400 N/A 557824
VANGUARD SMALL-CAP ETF VB 2.04 12146000 BBG000HT3Z79 41268
Franklin FTSE Japan ETF FLJP 2.01 11966200 BBG00J3MDY16 304175
ISHARES MSCI EMR MRK EX CHNA EMXC 2.00 11888900 BBG00H5VLMJ6 119848
NVIDIA CORP NVDA 1.37 8117150 BBG000BBJQV0 39621
APPLE INC AAPL 1.21 7175240 BBG000B9XRY4 24271
Franklin FTSE Europe ETF FLEE 1.02 6065180 BBG00J3PR1S7 154291
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.02 6063330 BBG00PZFJPC3 194712
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.02 6071760 BBG01922X0X9 121642
Simplify DBi CTA Managed Futures Index ETF SDMF 1.01 6015890 BBG020BR8WR7 235640
MICRON TECHNOLOGY INC MU 0.82 4849890 BBG000C5Z1S3 4870
BHP GROUP LTD BHP 0.79 4701930 BBG000BD5NZ4 53431
MICROSOFT CORP MSFT 0.78 4612260 BBG000BPH459 11816
AMAZON.COM INC AMZN 0.72 4284390 BBG000BVPV84 17740
CHEVRON CORP CVX 0.61 3636870 BBG000K4ND22 19572
ADVANCED MICRO DEVICES INC AMD 0.61 3654580 BBG000BBQCY0 7482
ALPHABET INC-CL A GOOGL 0.59 3482530 BBG009S39JX6 9734
Tesla Inc. TSLA 0.56 3302170 BBG000N9MNX3 8273
ALPHABET INC-CL C GOOG 0.55 3239350 BBG009S3NB30 9085
Cheniere Energy Inc LNG 0.54 3218360 BBG000C3HSR0 13402
MARATHON PETROLEUM CORP MPC 0.53 3167280 BBG001DCCGR8 12144
CANADIAN NATURAL RESOURCES CNQ 0.52 3063790 BBG000HW5GX3 67425
SCHLUMBERGER LTD SLB 0.52 3090190 BBG000BT41Q8 55182
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.51 3018440 BBG000BRK7L6 48842
WILLIAMS COMPANIES INC. WMB 0.51 3009170 BBG000BWVCP8 42326
EXXON MOBIL CORP XOM 0.51 3057200 BBG000GZQ728 20854
OCCIDENTAL PETROLEUM CORP OXY 0.50 2977020 BBG000BQQ2S6 53669
Broadcom Inc. AVGO 0.49 2919920 BBG00KHY5S69 7573
EQT CORP EQT 0.47 2817840 BBG000BHZ5J9 55036
WAL-MART STORES INC WMT 0.47 2765720 BBG000BWXBC2 22952
META PLATFORMS INC META 0.47 2788720 BBG000MM2P62 4906
INTEL CORP INTC 0.46 2710780 BBG000C0G1D1 23177
RIO TINTO PLC-SPON ADR RIO 0.45 2645310 BBG000FD28T3 25524
NEWMONT GOLDCORP CORPORATION COM NEM 0.44 2633860 BBG000BPWXK1 26989
CISCO SYSTEMS INC CSCO 0.36 2156630 BBG000C3J3C9 17702
COSTCO WHOLESALE CORP COST 0.35 2063580 BBG000F6H8W8 2115
LAM RESH CORP LRCX 0.34 2048960 BBG000BNFLM9 5652
FREEPORT-MCMORAN INC FCX 0.34 2022970 BBG000BJDB15 30494
APPLIED MATERIALS INC AMAT 0.33 1990060 BBG000BBPFB9 3601
GLENCORE PLC -UNSP ADR GLNCY 0.32 1879440 BBG001VKX1Z1 119481
AGNICO EAGLE MINES LTD AEM 0.32 1930820 BBG000DLVDK3 12239
REALTY INCOME CORP O 0.27 1587990 BBG000DHPN63 25650
NETFLIX INC NFLX 0.26 1568350 BBG000CL9VN6 19298
WELLTOWER INC WELL 0.26 1541050 BBG000BKY1G5 7315
Barrick Mining Corp. B 0.25 1508200 N/A 38573
PROLOGIS INC PLD 0.25 1494130 BBG000B9Z0J8 10151
KLA CORPORATION KLAC 0.24 1422870 BBG000BMTFR4 5900
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1297540 N/A 49355
AUTOMATIC DATA PROCESSING ADP 0.22 1323580 BBG000JG0547 5907
NUCOR CORP NUE 0.21 1271370 BBG000BQ8KV2 4873
TEXAS INSTRUMENTS INC TXN 0.21 1245740 BBG000BVV7G1 4193
SANDISK CORP/DE SNDKV SNDK 0.21 1230510 BBG01R388JG1 654
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1257190 BBG000N7QR55 9591
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1199270 BBG000PVRDL2 10645
EQUINIX INC EQIX 0.20 1186100 BBG000MBDGM6 1137
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1128730 BBG00ZXBJ153 4021
LINDE PLC LIN 0.18 1089640 BBG01FND0CC1 2114
FRANCO-NEVADA CORP FNV 0.17 992562 BBG000RD3CL8 4774
KENVUE INC KVUE 0.16 941411 BBG01C79X561 52098
Kimberly-Clark Corp KMB 0.16 932137 BBG000BMW2Z0 9180
HORMEL FOODS CORP HRL 0.16 946634 BBG000BLF8D2 38733
QUALCOMM INC QCOM 0.16 944576 BBG000CGC1X8 4654
MEDTRONIC PLC MDT 0.16 978982 BBG000BNWG87 12187
CLOROX COMPANY CLX 0.16 970712 BBG000BFS7D3 9875
PALO ALTO NETWORKS INC PANW 0.16 974442 BBG0014GJCT9 3486
FRANKLIN RESOURCES INC BEN 0.16 926053 BBG000BD0TF8 29112
VALE SA-SP ADR VALE 0.16 967757 BBG000BN5LG7 63005
STANLEY BLACK & DECKER INC SWK 0.16 946186 BBG000BTQR96 11382
ILLINOIS TOOL WORKS ITW 0.16 931796 BBG000BMBL90 3662
T ROWE PRICE GROUP INC TROW 0.16 937293 BBG000BVMPN3 8657
T-MOBILE US INC TMUS 0.16 940807 BBG000NDV1D4 5063
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 930934 N/A 23320
ANALOG DEVICES INC ADI 0.16 928529 BBG000BB6G37 2253
PEPSICO INC PEP 0.15 904493 BBG000DH7JK6 6293
AMGEN INC AMGN 0.15 872050 BBG000BBS2Y0 2463
EVERSOURCE ENERGY ES 0.15 870909 BBG000BQ87N0 12727
SIMON PROPERTY GROUP INC SPG 0.15 887372 BBG000BJ2D31 4130
GENUINE PARTS CO GPC 0.14 803048 BBG000BKL348 7853
WESTERN DIGITAL CORP WDC 0.14 805579 BBG000BWNFZ9 1522
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 852464 BBG0113JGQF0 982
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 822465 BBG00CMNZNK7 822465
PUBLIC STORAGE PSA 0.13 767939 BBG000BPPN67 2365
AO Smith Corp AOS 0.13 796603 BBG000BC1L02 13580
PPG INDUSTRIES INC PPG 0.13 796701 BBG000BRJ809 6738
J M Smucker Co COM STK NPV SJM 0.13 747478 BBG000BT1715 6398
DIGITAL REALTY TRUST INC DLR 0.13 758969 BBG000Q5ZRM7 4151
International Business Machines Corporation IBM 0.13 748417 BBG000BLNNH6 2723
ABBVIE INC ABBV 0.13 792314 BBG0025Y4RY4 3525
ASML HOLDING NV-NY REG SHS ASML 0.13 744596 BBG000K6MRN4 392
GILEAD SCIENCES INC GILD 0.12 715193 BBG000CKGBP2 5682
Crowdstrike Holdings Inc. Class A CRWD 0.12 731639 BBG00BLYKS03 1058
Ventas Inc. VTR 0.11 664744 BBG000FRVHB9 7924
HONEYWELL INTERNATIONAL INC HON 0.11 624930 BBG000H556T9 2852
INTUITIVE SURGICAL INC ISRG 0.11 664769 BBG000BJPDZ1 1610
APPLOVIN CORP APP 0.11 656598 BBG006HFPX77 1372
SHOPIFY INC - CLASS A SHOP 0.10 589468 BBG008HBD923 5336
IRON MOUNTAIN INC IRM 0.10 600315 BBG000KCZPC3 4796
BOOKING HOLDINGS INC BKNG 0.10 587124 BBG000BLBVN4 3589
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 530898 BBG000BBTJZ1 2349
VERTEX PHARMACEUTICALS INC VRTX 0.09 510906 BBG000C1S2X2 1148
STARBUCKS CORP SBUX 0.09 546278 BBG000CTQBF3 5341
CADENCE DESIGN SYS INC CDNS 0.08 470465 BBG000C13CD9 1226
Marriott International, Inc Class A MAR 0.08 482618 BBG000BGD7W6 1216
EXTRA SPACE STORAGE INC EXR 0.08 502920 BBG000PV27K3 3347
FORTINET INC FTNT 0.08 460711 BBG000BCMBG4 3176
VICI PROPERTIES INC REIT VICI 0.08 485142 BBG00HVVB499 17271
FASTENAL CO FAST 0.07 435463 BBG000BJ8YN7 9387
COMCAST CORP-CLASS A CMCSA 0.07 398094 BBG000BFT2L4 16608
EQUITY RESIDENTIAL EQR 0.07 433492 BBG000BG8M31 6504
CONSTELLATION ENERGY CORPORATION CEG 0.07 406331 BBG014KFRNP7 1647
MONSTER BEVERAGE CORP MNST 0.07 411006 BBG008NVB1C0 4466
CSX CORP CSX 0.07 413733 BBG000BGJRC8 8735
SYNOPSYS INC SNPS 0.07 404729 BBG000BSFRF3 887
AVALONBAY COMMUNITIES INC AVB 0.07 427346 BBG000BLPBL5 2318
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 367932 BBG000D4LWF6 5807
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 356059 BBG000C30L48 224
ADOBE SYSTEMS INC ADBE 0.06 379837 BBG000BB5006 1736
NXP Semiconductors NV NXPI 0.06 353681 BBG000BND699 1169
ROSS STORES INC ROST 0.06 337145 BBG000BSBZH7 1410
MERCADOLIBRE INC MELI 0.06 371910 BBG000GQPB11 231
INTUIT INC INTU 0.06 331738 BBG000BH5DV1 1198
CINTAS CORP CTAS 0.06 338479 BBG000H3YXF8 1861
OREILLY AUTOMOTIVE INC ORLY 0.06 349408 BBG000BGYWY6 3878
Datadog Inc. Class A DDOG 0.06 328404 BBG003NJHZT9 1402
PACCAR INC PCAR 0.05 282662 BBG000BQVTF5 2404
Warner Bros Discovery Inc WBD 0.05 307305 BBG011386VF4 11441
ESSEX PROPERTY TRUST INC ESS 0.05 309210 BBG000CGJMB9 1102
Baker Hughes Company BKR 0.05 285089 BBG00GBVBK51 4491
REGENERON PHARMACEUTICALS REGN 0.05 286784 BBG000C734W3 469
DOORDASH INC CLASS A DASH 0.05 277334 BBG005D7QCJ3 1794
INVITATION HOMES INC REIT USD.01 INVH 0.05 302304 BBG00FQH6BS9 10265
LUMENTUM HOLDINGS INC LITE 0.05 295344 BBG0073F9RT7 332
AMERICAN ELECTRIC POWER AEP 0.05 325183 BBG000BB9KF2 2531
XCEL ENERGY INC XEL 0.04 221817 BBG000BCTQ65 2834
Sun Communities Inc SUI 0.04 248931 BBG000BLJWF3 1978
MICROCHIP TECHNOLOGY INC MCHP 0.04 229934 BBG000BHCP19 2474
HOST HOTELS & RESORTS INC HST 0.04 255083 BBG000BL8804 10480
Old Dominion Freight Line Inc. ODFL 0.04 229921 BBG000CHSS88 928
ARM HOLDINGS PLC ARM 0.04 211498 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 218676 BBG000J6XT05 4805
AIRBNB INC ABNB 0.04 247083 BBG001Y2XS07 1888
MID-AMERICA APARTMENT COMM MAA 0.04 257280 BBG000BLMY92 1863
KIMCO REALTY CORP KIM 0.04 258762 BBG000CN3S73 10049
FERROVIAL SE FER 0.04 220841 BBG01H7CZ9S9 3279
DIAMONDBACK ENERGY INC FANG 0.04 247726 BBG002PHSYX9 1293
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 236908 BBG00LBLDDR2 2914
W. P. CAREY REIT INC WPC 0.04 246542 BBG000BCQM58 3262
ELECTRONIC ARTS INC EA 0.04 225792 BBG000BP0KQ8 1112
Cash & Other Cash&Other 0.03 161033 N/A 161033
PAYCHEX INC PAYX 0.03 154960 BBG000BQSQ38 1561
PAYPAL HOLDINGS INC PYPL 0.03 173043 BBG0077VNXV6 4196
ROPER TECHNOLOGIES INC ROP 0.03 154377 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 161971 BBG000BHJWG1 363
IDEXX LABS IDXX 0.03 202521 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 180500 BBG000BC4JJ4 649
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 177087 BBG000BS1YV5 835
KEURIG DR PEPPER INC KDP 0.03 196124 BBG000TJM7F0 6280
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 189968 BBG000B9ZXB4 2119
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 179711 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 200431 BBG000BM7HL0 975
MCDONALDS CORP MCD 0.03 183961 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 183444 BBG000BHLYS1 1717
MICROSTRATEGY INC-CL A MSTR 0.03 163044 BBG000GQJPZ0 1357
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 207494 BBG00B6BFWH9 2124
THOMSON REUTERS CORP TRI 0.03 152074 N/A 1895
KRAFT HEINZ CO/THE KHC 0.02 133380 BBG005CPNTQ2 5507
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 106761 BBG000BBDV81 2086
VERISK ANALYTICS INC VRSK 0.02 119392 BBG000BCZL41 656
Zscaler Inc. ZS 0.02 114634 BBG003338H34 909
WORKDAY INC-CLASS A WDAY 0.02 110298 BBG000VC0T95 845
COPART INC CPRT 0.02 136788 BBG000BM9RH1 4404
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 137084 BBG01BFR8YV1 2125
DEXCOM INC DXCM 0.02 124313 BBG000QTF8K1 1652
INSMED INC INSM 0.02 92851.2 BBG000BWM5P3 960
CHARTER COMMUNICATIONS INC-A CHTR 0.01 82788.3 BBG000VPGNR2 595

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.