RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

How to Buy
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 07/16/2026
TICKER RAA
NET ASSETS $592M
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 $29.38
30 DAY MEDIAN BID-ASK SPREAD 0.000682

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/16/2026

NET ASSET VALUE

$29.38

CLOSING PRICE

$29.37

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 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 4
Discount 13 16 8 14 4

Asset Allocation

As of 7/16/2026

Equities

40.04%
Nasdaq
15.51%
US Large Cap
10.10%
Dividend Payers
3.85%
Emerging Ex. China
3.64%
US Small Cap
2.96%
Europe
2.00%
Japan
1.98%

Fixed Income

27.50%
High Yield
6.03%
Corporate Bonds
5.98%
Long Term Treasuries
5.90%
Emerging Mkt Bonds
3.98%
TIPS
2.98%
T-Bills
2.63%

Alternatives

32.46%
Commodities
7.49%
Managed Futures
7.07%
Miners
5.76%
Gold
3.97%
Energy
3.86%
Bitcoin
2.20%
Real Estate
2.11%

Holdings

As of 07/16/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.10 59782600 BBG00RYR67P4 415474
INVESCO OPTIMUM YIELD DIVERS PDBC 7.49 44327800 N/A 2613670
SCHWAB HIGH YIELD BOND ETF SCYB 6.03 35690100 BBG01F80WX71 1367440
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.98 35408900 BBG000PWYVH7 432502
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.90 34925800 BBG00PZFJPC3 1141370
iM DBi Managed Futures Strategy ETF DBMF 5.86 34675400 N/A 1122910
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 23539800 BBG000NXKWH0 246258
SPROTT PHYSICAL GOLD TRUS PHYS 3.97 23526600 BBG000Q83F79 784221
ISHARES MSCI EMR MRK EX CHNA EMXC 3.64 21558200 BBG00H5VLMJ6 232358
SCHWAB U.S. TIPS ETF SCHP 2.98 17636100 BBG000BGN6P5 673390
VANGUARD SMALL-CAP ETF VB 2.96 17502800 BBG000HT3Z79 58748
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.20 13007100 N/A 457836
Franklin FTSE Europe ETF FLEE 2.00 11867300 BBG00J3PR1S7 306410
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 11859100 BBG01922X0X9 237467
Franklin FTSE Japan ETF FLJP 1.98 11716300 BBG00J3MDY16 298276
NVIDIA CORP NVDA 1.26 7435500 BBG000BBJQV0 35851
APPLE INC AAPL 1.22 7201420 BBG000B9XRY4 21609
BHP GROUP LTD BHP 1.21 7171730 BBG000BD5NZ4 88858
Simplify DBi CTA Managed Futures Index ETF SDMF 1.21 7186100 BBG020BR8WR7 279936
MICROSOFT CORP MSFT 0.75 4456220 BBG000BPH459 11110
AMAZON.COM INC AMZN 0.69 4068210 BBG000BVPV84 16280
MICRON TECHNOLOGY INC MU 0.67 3981880 BBG000C5Z1S3 4667
NEWMONT GOLDCORP CORPORATION COM NEM 0.66 3916680 BBG000BPWXK1 43121
RIO TINTO PLC-SPON ADR RIO 0.65 3859460 BBG000FD28T3 42566
CHEVRON CORP CVX 0.56 3337980 BBG000K4ND22 18155
ADVANCED MICRO DEVICES INC AMD 0.54 3183970 BBG000BBQCY0 6356
ALPHABET INC-CL A GOOGL 0.52 3079900 BBG009S39JX6 8689
META PLATFORMS INC META 0.50 2988440 BBG000MM2P62 4497
FREEPORT-MCMORAN INC FCX 0.50 2970570 BBG000BJDB15 50727
Tesla Inc. TSLA 0.49 2911440 BBG000N9MNX3 7445
ALPHABET INC-CL C GOOG 0.49 2883550 BBG009S3NB30 8150
GLENCORE PLC -UNSP ADR GLNCY 0.48 2829070 BBG001VKX1Z1 205005
MARATHON PETROLEUM CORP MPC 0.47 2784150 BBG001DCCGR8 9103
AGNICO EAGLE MINES LTD AEM 0.46 2708870 BBG000DLVDK3 19731
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.45 2652200 BBG000BRK7L6 43708
Broadcom Inc. AVGO 0.45 2647360 BBG00KHY5S69 7070
CANADIAN NATURAL RESOURCES CNQ 0.43 2553080 BBG000HW5GX3 59568
OCCIDENTAL PETROLEUM CORP OXY 0.43 2572460 BBG000BQQ2S6 47949
Cheniere Energy Inc LNG 0.43 2518780 BBG000C3HSR0 9725
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.43 2534570 N/A 17366
SCHLUMBERGER LTD SLB 0.41 2399240 BBG000BT41Q8 50961
WILLIAMS COMPANIES INC. WMB 0.40 2344880 BBG000BWVCP8 31378
WAL-MART STORES INC WMT 0.40 2352220 BBG000BWXBC2 20463
EQT CORP EQT 0.37 2183630 BBG000BHZ5J9 44203
Barrick Mining Corp. B 0.36 2145520 N/A 61582
NUCOR CORP NUE 0.33 1936740 BBG000BQ8KV2 8218
INTEL CORP INTC 0.32 1902650 BBG000C0G1D1 19619
REALTY INCOME CORP O 0.32 1890250 BBG000DHPN63 28749
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.31 1858620 N/A 79428
APPLIED MATERIALS INC AMAT 0.30 1755710 BBG000BBPFB9 3130
CISCO SYSTEMS INC CSCO 0.30 1793820 BBG000C3J3C9 16358
COSTCO WHOLESALE CORP COST 0.30 1763490 BBG000F6H8W8 1865
AUTOMATIC DATA PROCESSING ADP 0.30 1793100 BBG000JG0547 6989
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.29 1718250 BBG000PVRDL2 16482
WELLTOWER INC WELL 0.27 1595520 BBG000BKY1G5 6607
LAM RESH CORP LRCX 0.27 1604160 BBG000BNFLM9 4998
VALE SA-SP ADR VALE 0.26 1509550 BBG000BN5LG7 106157
PROLOGIS INC PLD 0.26 1553870 BBG000B9Z0J8 10355
FRANCO-NEVADA CORP FNV 0.25 1474360 BBG000RD3CL8 7441
NETFLIX INC NFLX 0.22 1327670 BBG000CL9VN6 17857
MEDTRONIC PLC MDT 0.21 1253320 BBG000BNWG87 14999
CLOROX COMPANY CLX 0.21 1236050 BBG000BFS7D3 12522
PALO ALTO NETWORKS INC PANW 0.21 1226220 BBG0014GJCT9 3464
ILLINOIS TOOL WORKS ITW 0.21 1251290 BBG000BMBL90 4422
T ROWE PRICE GROUP INC TROW 0.21 1228640 BBG000BVMPN3 10336
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1253120 BBG000N7QR55 9321
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1227810 N/A 27382
KENVUE INC KVUE 0.20 1181600 BBG01C79X561 62124
Kimberly-Clark Corp KMB 0.20 1176980 BBG000BMW2Z0 10799
HORMEL FOODS CORP HRL 0.20 1204920 BBG000BLF8D2 46866
FRANKLIN RESOURCES INC BEN 0.20 1172220 BBG000BD0TF8 35170
EVERSOURCE ENERGY ES 0.20 1174900 BBG000BQ87N0 15657
EQUINIX INC EQIX 0.19 1110050 BBG000MBDGM6 1100
KLA CORPORATION KLAC 0.19 1123170 BBG000BMTFR4 5120
STANLEY BLACK & DECKER INC SWK 0.19 1145390 BBG000BTQR96 12544
GENUINE PARTS CO GPC 0.18 1081180 BBG000BKL348 8604
TEXAS INSTRUMENTS INC TXN 0.18 1065280 BBG000BVV7G1 3658
LINDE PLC LIN 0.17 986282 BBG01FND0CC1 1894
ABBVIE INC ABBV 0.17 994410 BBG0025Y4RY4 3909
AO Smith Corp AOS 0.16 974896 BBG000BC1L02 16106
PPG INDUSTRIES INC PPG 0.16 975787 BBG000BRJ809 8222
J M Smucker Co COM STK NPV SJM 0.15 865032 BBG000BT1715 7590
Crowdstrike Holdings Inc. Class A CRWD 0.15 877391 BBG00BLYKS03 4306
T-MOBILE US INC TMUS 0.15 892896 BBG000NDV1D4 4630
PEPSICO INC PEP 0.14 813016 BBG000DH7JK6 5831
AMGEN INC AMGN 0.14 838284 BBG000BBS2Y0 2256
SANDISK CORP/DE SNDKV SNDK 0.14 808549 BBG01R388JG1 573
SIMON PROPERTY GROUP INC SPG 0.14 846555 BBG000BJ2D31 3705
QUALCOMM INC QCOM 0.13 748466 BBG000CGC1X8 4387
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 744744 BBG0113JGQF0 999
International Business Machines Corporation IBM 0.13 798656 BBG000BLNNH6 3646
ANALOG DEVICES INC ADI 0.13 764865 BBG000BB6G37 2010
Ventas Inc. VTR 0.12 703486 BBG000FRVHB9 7402
WESTERN DIGITAL CORP WDC 0.12 718421 BBG000BWNFZ9 1539
PUBLIC STORAGE PSA 0.12 717145 BBG000BPPN67 2210
GILEAD SCIENCES INC GILD 0.12 705898 BBG000CKGBP2 5179
DIGITAL REALTY TRUST INC DLR 0.12 700997 BBG000Q5ZRM7 4038
ASML HOLDING NV-NY REG SHS ASML 0.12 699669 BBG000K6MRN4 392
SHOPIFY INC - CLASS A SHOP 0.11 680076 BBG008HBD923 5438
INTUITIVE SURGICAL INC ISRG 0.11 661430 BBG000BJPDZ1 1644
ERIE INDEMNITY COMPANY-CL A ERIE 0.11 630147 BBG000BBTJZ1 2789
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 634006 BBG00ZXBJ153 3367
VERTEX PHARMACEUTICALS INC VRTX 0.10 566225 BBG000C1S2X2 1165
BOOKING HOLDINGS INC BKNG 0.10 602382 BBG000BLBVN4 3263
IRON MOUNTAIN INC IRM 0.09 550268 BBG000KCZPC3 4523
STARBUCKS CORP SBUX 0.09 516817 BBG000CTQBF3 4769
FORTINET INC FTNT 0.09 519802 BBG000BCMBG4 3233
APPLOVIN CORP APP 0.09 536148 BBG006HFPX77 1234
CADENCE DESIGN SYS INC CDNS 0.08 453260 BBG000C13CD9 1243
FASTENAL CO FAST 0.08 446819 BBG000BJ8YN7 9574
Marriott International, Inc Class A MAR 0.08 457616 BBG000BGD7W6 1233
MONSTER BEVERAGE CORP MNST 0.08 454827 BBG008NVB1C0 4551
EXTRA SPACE STORAGE INC EXR 0.08 481357 BBG000PV27K3 3202
CSX CORP CSX 0.08 453481 BBG000BGJRC8 8911
VICI PROPERTIES INC REIT VICI 0.08 478600 BBG00HVVB499 17628
AVALONBAY COMMUNITIES INC AVB 0.08 459816 BBG000BLPBL5 2352
ARM HOLDINGS PLC ARM 0.07 441487 BBG01J1GXZF0 1685
COMCAST CORP-CLASS A CMCSA 0.07 408591 BBG000BFT2L4 16954
EQUITY RESIDENTIAL EQR 0.07 432880 BBG000BG8M31 6184
CONSTELLATION ENERGY CORPORATION CEG 0.07 423225 BBG014KFRNP7 1681
ADOBE SYSTEMS INC ADBE 0.07 416499 BBG000BB5006 1770
MERCADOLIBRE INC MELI 0.07 429064 BBG000GQPB11 231
CINTAS CORP CTAS 0.07 390844 BBG000H3YXF8 1895
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 327726 BBG022XF4SZ9 1448
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 363975 BBG000D4LWF6 5926
DOORDASH INC CLASS A DASH 0.06 340666 BBG005D7QCJ3 1828
ROSS STORES INC ROST 0.06 332091 BBG000BSBZH7 1427
INTUIT INC INTU 0.06 358170 BBG000BH5DV1 1215
SYNOPSYS INC SNPS 0.06 376995 BBG000BSFRF3 904
OREILLY AUTOMOTIVE INC ORLY 0.06 340342 BBG000BGYWY6 3946
Datadog Inc. Class A DDOG 0.06 372232 BBG003NJHZT9 1419
AMERICAN ELECTRIC POWER AEP 0.06 343742 BBG000BB9KF2 2582
PACCAR INC PCAR 0.05 310975 BBG000BQVTF5 2455
Warner Bros Discovery Inc WBD 0.05 318720 BBG011386VF4 11679
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 292466 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 303368 BBG000CGJMB9 1020
NXP Semiconductors NV NXPI 0.05 321003 BBG000BND699 1186
AIRBNB INC ABNB 0.05 284072 BBG001Y2XS07 1922
REGENERON PHARMACEUTICALS REGN 0.05 318423 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 318467 BBG00FQH6BS9 10469
XCEL ENERGY INC XEL 0.04 230742 BBG000BCTQ65 2885
PAYPAL HOLDINGS INC PYPL 0.04 242861 BBG0077VNXV6 4281
Sun Communities Inc SUI 0.04 245404 BBG000BLJWF3 2012
HOST HOTELS & RESORTS INC HST 0.04 253293 BBG000BL8804 10701
Baker Hughes Company BKR 0.04 258727 BBG00GBVBK51 4576
Old Dominion Freight Line Inc. ODFL 0.04 224107 BBG000CHSS88 945
IDEXX LABS IDXX 0.04 209113 BBG000BLRT07 363
EXELON CORP EXC 0.04 229599 BBG000J6XT05 4907
MID-AMERICA APARTMENT COMM MAA 0.04 230341 BBG000BLMY92 1708
KIMCO REALTY CORP KIM 0.04 240960 BBG000CN3S73 9257
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.04 212781 BBG000B9ZXB4 2153
FERROVIAL SE FER 0.04 213070 BBG01H7CZ9S9 3347
AUTODESK INC ADSK 0.04 215324 BBG000BM7HL0 992
MCDONALDS CORP MCD 0.04 239824 BBG000BNSZP1 877
DIAMONDBACK ENERGY INC FANG 0.04 249070 BBG002PHSYX9 1310
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 257006 BBG00LBLDDR2 2965
W. P. CAREY REIT INC WPC 0.04 250150 BBG000BCQM58 3330
LUMENTUM HOLDINGS INC LITE 0.04 234468 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 228856 BBG00B6BFWH9 2158
ELECTRONIC ARTS INC EA 0.04 234651 BBG000BP0KQ8 1129
PAYCHEX INC PAYX 0.03 180997 BBG000BQSQ38 1578
MICROCHIP TECHNOLOGY INC MCHP 0.03 206242 BBG000BHCP19 2525
ROPER TECHNOLOGIES INC ROP 0.03 168993 BBG000F1ZSN5 464
ASTERA LABS INC ALAB 0.03 204953 BBG00TDKHW99 641
AXON ENTERPRISE INC AXON 0.03 196655 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 192941 BBG000BC4JJ4 649
TERADYNE INC TER 0.03 203694 BBG000BV4DR6 632
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 204114 BBG000BS1YV5 852
KEURIG DR PEPPER INC KDP 0.03 200801 BBG000TJM7F0 6399
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 175836 BBG000BFGNJ5 621
CONSOLIDATED EDISON INC ED 0.03 196795 BBG000BHLYS1 1751
ROCKET LAB CORP RKLB 0.03 158475 BBG01V7JN3F3 2353
THOMSON REUTERS CORP TRI 0.03 190624 N/A 1929
KRAFT HEINZ CO/THE KHC 0.02 147124 BBG005CPNTQ2 5609
WORKDAY INC-CLASS A WDAY 0.02 125361 BBG000VC0T95 862
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 141846 BBG01BFR8YV1 2159
Nebius Group NV NBIS 0.02 143256 BBG001NVJ6W4 834
COPART INC CPRT 0.02 126994 BBG000BM9RH1 4489
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 108664 BBG00CMNZNK7 108664
DEXCOM INC DXCM 0.02 131474 BBG000QTF8K1 1686
MICROSTRATEGY INC-CL A MSTR 0.02 129197 BBG000GQJPZ0 1374
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 89.12 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 146.43 BBG003338H34 1
INSMED INC INSM 0.00 107.46 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 208.37 BBG020QYV152 1
Cash & Other Cash&Other -0.02 -144334 N/A -144334

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.