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 12/08/2025
TICKER RAA
NET ASSETS $506M
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 $27.74
30 DAY MEDIAN BID-ASK SPREAD 0.000369

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 12/08/2025

NET ASSET VALUE

$27.74

CLOSING PRICE

$27.73

PREMIUM/DISCOUNT

0.05%
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 29
Discount 0 0 5 13 11

Asset Allocation

As of 12/8/2025

Equities

44.19%
Nasdaq
19.17%
US Large Cap
15.01%
Emerging Ex. China
3.02%
Japan
2.98%
Europe
2.01%
Dividend Payers
1.00%
US Small Cap
1.00%

Fixed Income

26.83%
High Yield
6.93%
Corporate Bonds
5.91%
Emerging Mkt Bonds
4.93%
TIPS
3.94%
Long Term Treasuries
2.91%
T-Bills
2.21%

Alternatives

28.98%
Commodities
7.06%
Managed Futures
6.90%
Energy
4.00%
Gold
3.99%
Miners
3.03%
Bitcoin
3.02%
Real Estate
0.98%

Holdings

As of 12/08/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.01 75974200 BBG00RYR67P4 579116
INVESCO OPTIMUM YIELD DIVERS PDBC 7.06 35750000 N/A 2605690
Schwab High Yield Bond ETF SCYB 6.93 35096500 BBG01F80WX71 1326900
iM DBi Managed Futures Strategy ETF DBMF 6.90 34944000 N/A 1219260
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.91 29946800 BBG000PWYVH7 357275
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.93 24982700 BBG000NXKWH0 260426
SPROTT PHYSICAL GOLD TRUS PHYS 3.99 20221900 BBG000Q83F79 631736
SCHWAB U.S. TIPS ETF SCHP 3.94 19944700 BBG000BGN6P5 747832
ISHARES MSCI EMR MRK EX CHNA EMXC 3.02 15276900 BBG00H5VLMJ6 212593
GRAYSCALE BITCN MINI TRU ETF BTC.UP 3.02 15268700 N/A 379818
Franklin FTSE Japan ETF FLJP 2.98 15112100 BBG00J3MDY16 423426
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.91 14714500 BBG00PZFJPC3 461849
Franklin FTSE Europe ETF FLEE 2.01 10200400 BBG00J3PR1S7 284250
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 10059400 BBG01922X0X9 201550
NVIDIA CORP NVDA 1.81 9144280 BBG000BBJQV0 49282
APPLE INC AAPL 1.67 8443130 BBG000B9XRY4 30383
MICROSOFT CORP MSFT 1.46 7367760 BBG000BPH459 15005
Broadcom Inc. AVGO 1.23 6229080 BBG00KHY5S69 15530
VANGUARD SMALL-CAP ETF VB 1.00 5055060 BBG000HT3Z79 19492
AMAZON.COM INC AMZN 0.98 4977060 BBG000BVPV84 21936
ISHARES MSCI GLOBAL METALS & PICK 0.77 3921120 BBG002GKR8T5 80203
ALPHABET INC-CL A GOOGL 0.75 3800720 BBG009S39JX6 12115
ALPHABET INC-CL C GOOG 0.70 3562400 BBG009S3NB30 11329
Tesla Inc. TSLA 0.64 3251130 BBG000N9MNX3 7396
META PLATFORMS INC META 0.59 2977930 BBG000MM2P62 4466
CHEVRON CORP CVX 0.42 2140090 BBG000K4ND22 14391
SCHLUMBERGER LTD SLB 0.42 2146070 BBG000BT41Q8 56121
CANADIAN NATURAL RESOURCES CNQ 0.41 2053880 BBG000HW5GX3 60284
WILLIAMS COMPANIES INC. WMB 0.41 2067090 BBG000BWVCP8 33367
NETFLIX INC NFLX 0.40 2038490 BBG000CL9VN6 21061
OCCIDENTAL PETROLEUM CORP OXY 0.40 2000420 BBG000BQQ2S6 48366
EQT CORP EQT 0.40 2004000 BBG000BHZ5J9 34163
EXXON MOBIL CORP XOM 0.40 2025470 BBG000GZQ728 17464
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.40 2042490 BBG000N7QR55 11254
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.39 1990460 BBG000BRK7L6 45207
COSTCO WHOLESALE CORP COST 0.39 1962310 BBG000F6H8W8 2211
BHP GROUP LTD BHP 0.39 1984200 BBG000BD5NZ4 34011
Cheniere Energy Inc LNG 0.39 1962020 BBG000C3HSR0 9771
MARATHON PETROLEUM CORP MPC 0.39 1979670 BBG001DCCGR8 10438
ADVANCED MICRO DEVICES INC AMD 0.34 1745000 BBG000BBQCY0 7892
ISHARES MSCI GLOBAL GOLD MIN RING 0.32 1629250 BBG002GKR6T9 23956
CISCO SYSTEMS INC CSCO 0.31 1582880 BBG000C3J3C9 20072
NEWMONT GOLDCORP CORPORATION COM NEM 0.27 1388930 BBG000BPWXK1 15606
MICRON TECHNOLOGY INC MU 0.27 1362750 BBG000C5Z1S3 5519
T-MOBILE US INC TMUS 0.23 1166740 BBG000NDV1D4 5707
AGNICO EAGLE MINES LTD AEM 0.23 1150730 BBG000DLVDK3 6986
RIO TINTO PLC-SPON ADR RIO 0.22 1118960 BBG000FD28T3 15324
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.22 1135980 BBG00CMNZNK7 1135980
APPLIED MATERIALS INC AMAT 0.21 1050650 BBG000BBPFB9 3918
INTUITIVE SURGICAL INC ISRG 0.21 1038540 BBG000BJPDZ1 1832
PEPSICO INC PEP 0.20 999022 BBG000DH7JK6 6860
LAM RESH CORP LRCX 0.20 1024120 BBG000BNFLM9 6293
APPLOVIN CORP APP 0.20 1018090 BBG006HFPX77 1476
SHOPIFY INC - CLASS A SHOP 0.19 968836 BBG008HBD923 6116
QUALCOMM INC QCOM 0.19 946499 BBG000CGC1X8 5399
INTUIT INC INTU 0.19 954173 BBG000BH5DV1 1454
Barrick Mining Corp. B 0.19 943952 N/A 23587
LINDE PLC LIN 0.18 922831 BBG01FND0CC1 2370
INTEL CORP INTC 0.17 868264 BBG000C0G1D1 21545
FREEPORT-MCMORAN INC FCX 0.17 856935 BBG000BJDB15 19043
AMGEN INC AMGN 0.17 874388 BBG000BBS2Y0 2722
BOOKING HOLDINGS INC BKNG 0.17 849092 BBG000BLBVN4 164
TEXAS INSTRUMENTS INC TXN 0.16 812602 BBG000BVV7G1 4491
KLA CORPORATION KLAC 0.16 809454 BBG000BMTFR4 661
AUTOMATIC DATA PROCESSING ADP 0.16 787970 BBG000JG0547 3046
GILEAD SCIENCES INC GILD 0.15 755377 BBG000CKGBP2 6233
WELLTOWER INC WELL 0.15 736024 BBG000BKY1G5 3664
ADOBE SYSTEMS INC ADBE 0.15 736230 BBG000BB5006 2171
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 642355 BBG000PVRDL2 6120
PALO ALTO NETWORKS INC PANW 0.13 661455 BBG0014GJCT9 3386
GLENCORE PLC -UNSP ADR GLNCY 0.13 657487 BBG001VKX1Z1 65552
PROLOGIS INC PLD 0.13 643230 BBG000B9Z0J8 5078
Crowdstrike Holdings Inc. Class A CRWD 0.13 665110 BBG00BLYKS03 1291
ANALOG DEVICES INC ADI 0.13 680798 BBG000BB6G37 2439
HONEYWELL INTERNATIONAL INC HON 0.12 623008 BBG000H556T9 3245
VERTEX PHARMACEUTICALS INC VRTX 0.11 567579 BBG000C1S2X2 1284
CONSTELLATION ENERGY CORPORATION CEG 0.11 553673 BBG014KFRNP7 1548
MERCADOLIBRE INC MELI 0.11 536708 BBG000GQPB11 257
Anglo American PLC NGLOD 0.11 573714 N/A 29346
REALTY INCOME CORP O 0.10 515364 BBG000DHPN63 8991
FRANCO-NEVADA CORP FNV 0.10 484746 BBG000RD3CL8 2432
COMCAST CORP-CLASS A CMCSA 0.10 500220 BBG000BFT2L4 18770
CADENCE DESIGN SYS INC CDNS 0.09 462762 BBG000C13CD9 1372
STARBUCKS CORP SBUX 0.09 478523 BBG000CTQBF3 5737
FASTENAL CO FAST 0.09 474504 BBG000BJ8YN7 11630
DOORDASH INC CLASS A DASH 0.09 462808 BBG005D7QCJ3 2053
ASML HOLDING NV-NY REG SHS ASML 0.09 456834 BBG000K6MRN4 408
Marriott International, Inc Class A MAR 0.08 398631 BBG000BGD7W6 1385
EQUINIX INC EQIX 0.08 392903 BBG000MBDGM6 531
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 387323 BBG00LBLDDR2 3293
SYNOPSYS INC SNPS 0.08 422435 BBG000BSFRF3 906.999
OREILLY AUTOMOTIVE INC ORLY 0.08 414907 BBG000BGYWY6 4229
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 358021 BBG000D4LWF6 6538
Warner Bros Discovery Inc WBD 0.07 331879 BBG011386VF4 12188
SIMON PROPERTY GROUP INC SPG 0.07 340692 BBG000BJ2D31 1892
REGENERON PHARMACEUTICALS REGN 0.07 366398 BBG000C734W3 521
MONSTER BEVERAGE CORP MNST 0.07 367482 BBG008NVB1C0 4970
CINTAS CORP CTAS 0.07 368522 BBG000H3YXF8 2014
CSX CORP CSX 0.07 335874 BBG000BGJRC8 9240
FORTINET INC FTNT 0.07 329776 BBG000BCMBG4 3948
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 375452 BBG00ZXBJ153 4081
PAYPAL HOLDINGS INC PYPL 0.06 292826 BBG0077VNXV6 4791
PACCAR INC PCAR 0.06 288234 BBG000BQVTF5 2627
PUBLIC STORAGE PSA 0.06 295966 BBG000BPPN67 1098
AMERICAN ELECTRIC POWER AEP 0.06 314786 BBG000BB9KF2 2720
NXP Semiconductors NV NXPI 0.06 278476 BBG000BND699 1216
IDEXX LABS IDXX 0.06 286193 BBG000BLRT07 405
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 298546 N/A 2302
AUTODESK INC ADSK 0.06 314048 BBG000BM7HL0 1042
DIGITAL REALTY TRUST INC DLR 0.06 310199 BBG000Q5ZRM7 1894
ROSS STORES INC ROST 0.06 297612 BBG000BSBZH7 1674
Ventas Inc. VTR 0.05 255069 BBG000FRVHB9 3149
ROPER TECHNOLOGIES INC ROP 0.05 235863 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 244311 BBG01C79X561 14577
Kimberly-Clark Corp KMB 0.05 237107 BBG000BMW2Z0 2328
GENUINE PARTS CO GPC 0.05 233890 BBG000BKL348 1822
Baker Hughes Company BKR 0.05 233064 BBG00GBVBK51 4918
HORMEL FOODS CORP HRL 0.05 259226 BBG000BLF8D2 10869
MICROSTRATEGY INC-CL A MSTR 0.05 237511 BBG000GQJPZ0 1293
ILLINOIS TOOL WORKS ITW 0.05 249867 BBG000BMBL90 1007
AMCOR PLC AMCR 0.05 241436 BBG00LNJRQ09 29265
TARGET CORP TGT 0.05 261312 BBG000H8TVT2 2808
MEDTRONIC PLC MDT 0.05 237353 BBG000BNWG87 2344
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 234174 BBG000BS1YV5 947
FRANKLIN RESOURCES INC BEN 0.05 258297 BBG000BD0TF8 11172
AIRBNB INC ABNB 0.05 267568 BBG001Y2XS07 2193
T ROWE PRICE GROUP INC TROW 0.05 257642 BBG000BVMPN3 2465
ABBVIE INC ABBV 0.05 246994 BBG0025Y4RY4 1107
EVERSOURCE ENERGY ES 0.05 232183 BBG000BQ87N0 3481
WORKDAY INC-CLASS A WDAY 0.05 268073 BBG000VC0T95 1213
ASTRAZENECA PLC-SPONS ADR AZN 0.05 270189 BBG000BZ0DK8 2960
Datadog Inc. Class A DDOG 0.05 249008 BBG003NJHZT9 1614
STANLEY BLACK & DECKER INC SWK 0.05 252971 BBG000BTQR96 3496
ELECTRONIC ARTS INC EA 0.05 258687 BBG000BP0KQ8 1271
Cash & Other Cash&Other 0.04 192888 N/A 192888
XCEL ENERGY INC XEL 0.04 220677 BBG000BCTQ65 2914
MICROCHIP TECHNOLOGY INC MCHP 0.04 179420 BBG000BHCP19 2664
PAYCHEX INC PAYX 0.04 212755 BBG000BQSQ38 1892
EXELON CORP EXC 0.04 221416 BBG000J6XT05 5110
AVALONBAY COMMUNITIES INC AVB 0.04 195726 BBG000BLPBL5 1102
PPG INDUSTRIES INC PPG 0.04 227037 BBG000BRJ809 2262
AXON ENTERPRISE INC AXON 0.04 218482 BBG000BHJWG1 395
Zscaler Inc. ZS 0.04 222841 BBG003338H34 910
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 200322 BBG000BBDV81 2482
EXTRA SPACE STORAGE INC EXR 0.04 193967 BBG000PV27K3 1509
KEURIG DR PEPPER INC KDP 0.04 191081 BBG000TJM7F0 6589
COPART INC CPRT 0.04 189553 BBG000BM9RH1 4935
VICI PROPERTIES INC REIT VICI 0.04 194630 BBG00HVVB499 6971
DIAMONDBACK ENERGY INC FANG 0.04 222103 BBG002PHSYX9 1410
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 188199 BBG01BFR8YV1 2265
International Business Machines Corporation IBM 0.04 209006 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 208295 BBG00B6BFWH9 2318
KRAFT HEINZ CO/THE KHC 0.03 144560 BBG005CPNTQ2 5898
Old Dominion Freight Line Inc. ODFL 0.03 157899 BBG000CHSS88 1041
VERISK ANALYTICS INC VRSK 0.03 146703 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 136790 BBG01BGWHFR5 851
COSTAR GROUP INC CSGP 0.03 136971 BBG000D7JKW9 2065
CHARTER COMMUNICATIONS INC-A CHTR 0.03 138753 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 148046 BBG000BG8M31 2443
IRON MOUNTAIN INC IRM 0.03 147668 BBG000KCZPC3 1749
BIOGEN INC BIIB 0.03 134247 BBG000C17X76 744
DEXCOM INC DXCM 0.03 131371 BBG000QTF8K1 2002
AFLAC INC AFL 0.03 141559 BBG000BBBNC6 1310
Sun Communities Inc SUI 0.02 97536.8 BBG000BLJWF3 777
GLOBALFOUNDRIES INC GFS 0.02 108263 BBG000C2L5G9 2712
ESSEX PROPERTY TRUST INC ESS 0.02 96095.8 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 108419 BBG000DV7MX4 1923
MID-AMERICA APARTMENT COMM MAA 0.02 97202 BBG000BLMY92 742
LULULEMON ATHLETICA INC LULU 0.02 106163 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 95882.6 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 117987 BBG000BFS7D3 1169
KIMCO REALTY CORP KIM 0.02 96130.8 BBG000CN3S73 4860
Omega Healthcare Investors Inc OHI 0.02 99741.3 BBG000BGBTC2 2183
ARM HOLDINGS PLC ARM 0.02 89179.6 BBG01J1GXZF0 638
TRADE DESK INC/THE -CLASS A TTD 0.02 86215.9 BBG00629NGT2 2191
INVITATION HOMES INC REIT USD.01 INVH 0.02 95309.5 BBG00FQH6BS9 3575
W. P. CAREY REIT INC WPC 0.02 96943.2 BBG000BCQM58 1488
AO Smith Corp AOS 0.01 51034 BBG000BC1L02 760
AIR PRODUCTS & CHEMICALS INC APD 0.01 45557.6 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 48011.4 BBG000BHLYS1 503
JOHNSON & JOHNSON JNJ 0.01 48792 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 49876.2 BBG000BNSZP1 161
Solstice Advanced Materials Inc. SOLSV 0.00 6781.72 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.