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 11/20/2025
TICKER RAA
NET ASSETS $487M
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 $26.79
30 DAY MEDIAN BID-ASK SPREAD 0.000726

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 11/20/2025

NET ASSET VALUE

$26.79

CLOSING PRICE

$26.79

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 23
Discount 0 0 5 13 8

Asset Allocation

As of 11/20/2025

Equities

46.85%
Nasdaq
21.10%
US Large Cap
14.79%
Dividend Payers
3.06%
US Small Cap
2.94%
Emerging Ex. China
1.98%
Japan
1.97%
Europe
1.00%

Fixed Income

31.02%
Corporate Bonds
8.26%
Long Term Treasuries
7.19%
High Yield
6.18%
Emerging Mkt Bonds
4.11%
TIPS
4.11%
T-Bills
1.17%

Alternatives

22.13%
Gold
6.34%
Managed Futures
5.18%
Miners
4.04%
Bitcoin
2.50%
Real Estate
2.00%
Energy
1.05%
Commodities
1.02%

Holdings

As of 11/20/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.79 71934100 BBG00RYR67P4 575013
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 8.26 40178300 BBG000PWYVH7 479855
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 7.19 34950500 BBG00PZFJPC3 1082730
SPROTT PHYSICAL GOLD TRUS PHYS 6.34 30818400 BBG000Q83F79 991264
Schwab High Yield Bond ETF SCYB 6.18 30037800 BBG01F80WX71 1142560
iM DBi Managed Futures Strategy ETF DBMF 5.18 25187700 N/A 883469
SCHWAB U.S. TIPS ETF SCHP 4.11 19997400 BBG000BGN6P5 746170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.11 19971000 BBG000NXKWH0 208270
VANGUARD SMALL-CAP ETF VB 2.94 14309800 BBG000HT3Z79 59298
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.50 12162900 N/A 318316
ISHARES MSCI EMR MRK EX CHNA EMXC 1.98 9648250 BBG00H5VLMJ6 138724
Franklin FTSE Japan ETF FLJP 1.97 9578520 BBG00J3MDY16 280895
NVIDIA CORP NVDA 1.96 9527860 BBG000BBJQV0 52745
APPLE INC AAPL 1.85 9017890 BBG000B9XRY4 33870
MICROSOFT CORP MSFT 1.72 8369650 BBG000BPH459 17494
Broadcom Inc. AVGO 1.25 6059290 BBG00KHY5S69 17471
ISHARES MSCI GLOBAL METALS & PICK 1.04 5035120 BBG002GKR8T5 112971
AMAZON.COM INC AMZN 1.03 4999650 BBG000BVPV84 23025
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.03 4990650 BBG01922X0X9 99913
INVESCO OPTIMUM YIELD DIVERS PDBC 1.02 4978050 N/A 369018
Franklin FTSE Europe ETF FLEE 1.00 4845070 BBG00J3PR1S7 141840
ALPHABET INC-CL C GOOG 0.76 3690870 BBG009S3NB30 12728
ALPHABET INC-CL A GOOGL 0.76 3689620 BBG009S39JX6 12747
META PLATFORMS INC META 0.70 3387020 BBG000MM2P62 5749
Tesla Inc. TSLA 0.68 3290680 BBG000N9MNX3 8326
NETFLIX INC NFLX 0.52 2539250 BBG000CL9VN6 24030
BHP GROUP LTD BHP 0.51 2479150 BBG000BD5NZ4 47150
COSTCO WHOLESALE CORP COST 0.46 2251980 BBG000F6H8W8 2521
ISHARES MSCI GLOBAL GOLD MIN RING 0.43 2110020 BBG002GKR6T9 33755
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.40 1938870 BBG000N7QR55 12449
ADVANCED MICRO DEVICES INC AMD 0.40 1921140 BBG000BBQCY0 9325
NEWMONT GOLDCORP CORPORATION COM NEM 0.36 1742750 BBG000BPWXK1 21253
CISCO SYSTEMS INC CSCO 0.34 1651760 BBG000C3J3C9 21895
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.33 1590810 BBG00CMNZNK7 1590810
AGNICO EAGLE MINES LTD AEM 0.31 1511140 BBG000DLVDK3 9528
RIO TINTO PLC-SPON ADR RIO 0.29 1428290 BBG000FD28T3 20766
WELLTOWER INC WELL 0.29 1419410 BBG000BKY1G5 7184
T-MOBILE US INC TMUS 0.29 1396940 BBG000NDV1D4 6636
AUTOMATIC DATA PROCESSING ADP 0.27 1321260 BBG000JG0547 5305
REALTY INCOME CORP O 0.26 1265850 BBG000DHPN63 22484
MICRON TECHNOLOGY INC MU 0.26 1246280 BBG000C5Z1S3 6189
PROLOGIS INC PLD 0.25 1238590 BBG000B9Z0J8 10060
Barrick Mining Corp. B 0.25 1197290 N/A 33258
PEPSICO INC PEP 0.24 1165290 BBG000DH7JK6 7976
INTUITIVE SURGICAL INC ISRG 0.24 1154710 BBG000BJPDZ1 2091
LINDE PLC LIN 0.23 1116870 BBG01FND0CC1 2734
INTUIT INC INTU 0.22 1046680 BBG000BH5DV1 1642
FREEPORT-MCMORAN INC FCX 0.21 1044290 BBG000BJDB15 26351
QUALCOMM INC QCOM 0.21 1029670 BBG000CGC1X8 6452
AMGEN INC AMGN 0.21 1013250 BBG000BBS2Y0 3015
SHOPIFY INC - CLASS A SHOP 0.21 998765 BBG008HBD923 6909
APPLIED MATERIALS INC AMAT 0.20 979803 BBG000BBPFB9 4449
LAM RESH CORP LRCX 0.20 972942 BBG000BNFLM9 6970
FASTENAL CO FAST 0.19 940266 BBG000BJ8YN7 24017
APPLOVIN CORP APP 0.19 931226 BBG006HFPX77 1788
CHEVRON CORP CVX 0.19 928164 BBG000K4ND22 6175
GILEAD SCIENCES INC GILD 0.18 882304 BBG000CKGBP2 7059
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.18 862510 BBG000PVRDL2 8658
BOOKING HOLDINGS INC BKNG 0.18 852457 BBG000BLBVN4 186
KENVUE INC KVUE 0.17 850071 BBG01C79X561 52636
GLENCORE PLC -UNSP ADR GLNCY 0.17 843105 BBG001VKX1Z1 94307
TEXAS INSTRUMENTS INC TXN 0.17 830282 BBG000BVV7G1 5415
INTEL CORP INTC 0.17 820194 BBG000C0G1D1 24396
KLA CORPORATION KLAC 0.17 819120 BBG000BMTFR4 743
MEDTRONIC PLC MDT 0.17 818445 BBG000BNWG87 8238
EQUINIX INC EQIX 0.17 810776 BBG000MBDGM6 1077
AMCOR PLC AMCR 0.16 798322 BBG00LNJRQ09 95493
ADOBE SYSTEMS INC ADBE 0.16 789435 BBG000BB5006 2527
HORMEL FOODS CORP HRL 0.16 785776 BBG000BLF8D2 35205
ILLINOIS TOOL WORKS ITW 0.15 741382 BBG000BMBL90 3075
ABBVIE INC ABBV 0.15 732175 BBG0025Y4RY4 3191
Anglo American PLC NGLOD 0.15 732260 N/A 41653
SIMON PROPERTY GROUP INC SPG 0.15 726582 BBG000BJ2D31 4035
HONEYWELL INTERNATIONAL INC HON 0.15 723210 BBG000H556T9 3844
T ROWE PRICE GROUP INC TROW 0.15 714061 BBG000BVMPN3 7338
GENUINE PARTS CO GPC 0.15 707045 BBG000BKL348 5655
PALO ALTO NETWORKS INC PANW 0.14 699750 BBG0014GJCT9 3781
FRANKLIN RESOURCES INC BEN 0.14 697161 BBG000BD0TF8 32916
Crowdstrike Holdings Inc. Class A CRWD 0.14 693312 BBG00BLYKS03 1383
STANLEY BLACK & DECKER INC SWK 0.14 682469 BBG000BTQR96 10930
TARGET CORP TGT 0.14 675047 BBG000H8TVT2 8067
CLOROX COMPANY CLX 0.14 666366 BBG000BFS7D3 6659
AIR PRODUCTS & CHEMICALS INC APD 0.14 657102 BBG000BC4JJ4 2617
FRANCO-NEVADA CORP FNV 0.13 652513 BBG000RD3CL8 3435
ANALOG DEVICES INC ADI 0.13 647900 BBG000BB6G37 2877
EVERSOURCE ENERGY ES 0.13 644842 BBG000BQ87N0 10147
CONSTELLATION ENERGY CORPORATION CEG 0.13 625516 BBG014KFRNP7 1809
VERTEX PHARMACEUTICALS INC VRTX 0.12 606029 BBG000C1S2X2 1435
International Business Machines Corporation IBM 0.12 604903 BBG000BLNNH6 2083
DIGITAL REALTY TRUST INC DLR 0.12 599788 BBG000Q5ZRM7 3806
COMCAST CORP-CLASS A CMCSA 0.12 590068 BBG000BFT2L4 22158
PUBLIC STORAGE PSA 0.12 565408 BBG000BPPN67 2130
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.12 562395 BBG000BRK7L6 12590
STARBUCKS CORP SBUX 0.11 557685 BBG000CTQBF3 6750
EQT CORP EQT 0.11 537297 BBG000BHZ5J9 9535
CANADIAN NATURAL RESOURCES CNQ 0.11 531868 BBG000HW5GX3 15657
MERCADOLIBRE INC MELI 0.11 516732 BBG000GQPB11 272
WILLIAMS COMPANIES INC. WMB 0.11 510926 BBG000BWVCP8 8673
EXXON MOBIL CORP XOM 0.11 510441 BBG000GZQ728 4362
OCCIDENTAL PETROLEUM CORP OXY 0.10 506141 BBG000BQQ2S6 12282
Cheniere Energy Inc LNG 0.10 491698 BBG000C3HSR0 2362
CADENCE DESIGN SYS INC CDNS 0.10 484330 BBG000C13CD9 1603
SCHLUMBERGER LTD SLB 0.10 484426 BBG000BT41Q8 13766
Ventas Inc. VTR 0.10 482749 BBG000FRVHB9 6051
OREILLY AUTOMOTIVE INC ORLY 0.10 480694 BBG000BGYWY6 4855
MARATHON PETROLEUM CORP MPC 0.10 479632 BBG001DCCGR8 2553
ASML HOLDING NV-NY REG SHS ASML 0.09 457165 BBG000K6MRN4 466
Marriott International, Inc Class A MAR 0.09 449831 BBG000BGD7W6 1593
DOORDASH INC CLASS A DASH 0.09 438913 BBG005D7QCJ3 2338
VICI PROPERTIES INC REIT VICI 0.09 439200 BBG00HVVB499 15250
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 435184 BBG000D4LWF6 7806
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.09 429360 BBG00LBLDDR2 3802
CINTAS CORP CTAS 0.09 427222 BBG000H3YXF8 2332
SYNOPSYS INC SNPS 0.09 420303 BBG000BSFRF3 1090
MONSTER BEVERAGE CORP MNST 0.09 417504 BBG008NVB1C0 5781
EXTRA SPACE STORAGE INC EXR 0.08 382179 BBG000PV27K3 2967
REGENERON PHARMACEUTICALS REGN 0.08 380292 BBG000C734W3 516
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 371361 BBG00ZXBJ153 4843
AUTODESK INC ADSK 0.07 355525 BBG000BM7HL0 1239
CINCINNATI FINANCIAL CORP CINF 0.07 355142 BBG000BFPK65 2170
AVALONBAY COMMUNITIES INC AVB 0.07 353726 BBG000BLPBL5 1998
CSX CORP CSX 0.07 353606 BBG000BGJRC8 10499
AMERICAN ELECTRIC POWER AEP 0.07 348555 BBG000BB9KF2 2883
THOMSON REUTERS CORP COMMON STOCK TRI 0.07 346634 N/A 2632
FORTINET INC FTNT 0.07 336196 BBG000BCMBG4 4308
IRON MOUNTAIN INC IRM 0.07 327601 BBG000KCZPC3 3947
IDEXX LABS IDXX 0.07 322616 BBG000BLRT07 468
PAYPAL HOLDINGS INC PYPL 0.07 319926 BBG0077VNXV6 5506
Warner Bros Discovery Inc WBD 0.06 314440 BBG011386VF4 13743
MICROSTRATEGY INC-CL A MSTR 0.06 305904 BBG000GQJPZ0 1727
ROSS STORES INC ROST 0.06 301098 BBG000BSBZH7 1876
ASTRAZENECA PLC-SPONS ADR AZN 0.06 296014 BBG000BZ0DK8 3338
EQUITY RESIDENTIAL EQR 0.06 294025 BBG000BG8M31 4970
PACCAR INC PCAR 0.06 293483 BBG000BQVTF5 3007
J M Smucker Co COM STK NPV SJM 0.06 291122 BBG000BT1715 2806
Datadog Inc. Class A DDOG 0.06 290098 BBG003NJHZT9 1818
ELECTRONIC ARTS INC EA 0.06 286596 BBG000BP0KQ8 1425
NXP Semiconductors NV NXPI 0.06 284758 BBG000BND699 1546
ROPER TECHNOLOGIES INC ROP 0.06 281269 BBG000F1ZSN5 638
WORKDAY INC-CLASS A WDAY 0.06 275349 BBG000VC0T95 1270
AIRBNB INC ABNB 0.06 271823 BBG001Y2XS07 2437
EXELON CORP EXC 0.05 265512 BBG000J6XT05 5847
Baker Hughes Company BKR 0.05 261309 BBG00GBVBK51 5436
XCEL ENERGY INC XEL 0.05 257150 BBG000BCTQ65 3235
Zscaler Inc. ZS 0.05 248121 BBG003338H34 887
INVITATION HOMES INC REIT USD.01 INVH 0.05 245960 BBG00FQH6BS9 8800
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 245256 BBG000BS1YV5 1042
DIAMONDBACK ENERGY INC FANG 0.05 237510 BBG002PHSYX9 1624
COPART INC CPRT 0.05 233650 BBG000BM9RH1 5696
PAYCHEX INC PAYX 0.05 233514 BBG000BQSQ38 2153
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 231359 BBG00B6BFWH9 2594
AXON ENTERPRISE INC AXON 0.05 229668 BBG000BHJWG1 442
CONSOLIDATED EDISON INC ED 0.05 220677 BBG000BHLYS1 2186
KEURIG DR PEPPER INC KDP 0.04 216265 BBG000TJM7F0 7948
ESSEX PROPERTY TRUST INC ESS 0.04 204584 BBG000CGJMB9 800
Sun Communities Inc SUI 0.04 203717 BBG000BLJWF3 1627
W. P. CAREY REIT INC WPC 0.04 203082 BBG000BCQM58 3064
MID-AMERICA APARTMENT COMM MAA 0.04 202979 BBG000BLMY92 1551
REGENCY CENTERS CORP REG 0.04 199554 BBG000BL46Q4 2875
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 197116 BBG01BFR8YV1 2637
VERISK ANALYTICS INC VRSK 0.04 190595 BBG000BCZL41 859
KIMCO REALTY CORP KIM 0.04 189381 BBG000CN3S73 9531
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 187314 BBG000BBDV81 2589
COSTAR GROUP INC CSGP 0.04 175725 BBG000D7JKW9 2682
KRAFT HEINZ CO/THE KHC 0.03 167766 BBG005CPNTQ2 6716
JOHNSON & JOHNSON JNJ 0.03 160831 BBG000BMHYD1 792
CHARTER COMMUNICATIONS INC-A CHTR 0.03 157715 BBG000VPGNR2 810
MICROCHIP TECHNOLOGY INC MCHP 0.03 156325 BBG000BHCP19 3189
Old Dominion Freight Line Inc. ODFL 0.03 151295 BBG000CHSS88 1198
MCDONALDS CORP MCD 0.03 149647 BBG000BNSZP1 492
PPG INDUSTRIES INC PPG 0.03 146513 BBG000BRJ809 1539
AO Smith Corp AOS 0.03 141996 BBG000BC1L02 2245
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 137846 BBG01BGWHFR5 957
BIOGEN INC BIIB 0.03 135889 BBG000C17X76 808
DEXCOM INC DXCM 0.03 131971 BBG000QTF8K1 2259
LULULEMON ATHLETICA INC LULU 0.02 117424 BBG000R8ZVD1 713
ON Semiconductor Corporation ON 0.02 106817 BBG000DV7MX4 2379
ARM HOLDINGS PLC ARM 0.02 105759 BBG01J1GXZF0 798
CDW CORP/DE CDW 0.02 105486 BBG001P63B80 772
TRADE DESK INC/THE -CLASS A TTD 0.02 103238 BBG00629NGT2 2692
GLOBALFOUNDRIES INC GFS 0.02 98364.2 BBG000C2L5G9 3051
Solstice Advanced Materials Inc. SOLSV 0.00 6282.06 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.