RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 11/10/2026
TICKER RAA
NET ASSETS $598M
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 $29.36
30 DAY MEDIAN BID-ASK SPREAD 0.000672

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 10.34% NA NA 13.35%
RAA - Market Price 10.25% NA NA 13.33%
S&P 500 Index Total Return 12.11% NA NA 16.84%
1 MO 3 MO YTD Since Inception
RAA - NAV 0.07% -1.49% 2.09% 1.87% 9.88% 9.81% 13.35% 14.06%
RAA - Market Price -0.03% -1.49% 1.99% 1.86% 9.80% 9.83% 13.33% 14.11%
S&P 500 Index Total Return -0.87% -0.35% 1.48% 2.30% 11.77% 12.75% 16.84% 18.46%
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 11/10/2026

NET ASSET VALUE

$29.36

CLOSING PRICE

$29.37

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 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 9
Discount 16 8 14 21 15

Asset Allocation

As of 11/10/2026

Equities

56.30%
Nasdaq
26.79%
US Large Cap
20.29%
Dividend Payers
3.16%
US Small Cap
2.06%
Emerging Ex. China
2.00%
Europe
1.00%
Japan
1.00%

Fixed Income

20.34%
High Yield
5.10%
Corporate Bonds
5.07%
Emerging Mkt Bonds
3.05%
TIPS
3.00%
T-Bills
2.10%
Long Term Treasuries
2.02%

Alternatives

23.26%
Managed Futures
7.90%
Commodities
5.56%
Energy
3.63%
Miners
2.13%
Bitcoin
1.95%
Gold
1.06%
Real Estate
1.03%

Holdings

As of 11/10/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 20.29 121374000 BBG00RYR67P4 2534440
iM DBi Managed Futures Strategy ETF DBMF 6.12 36581300 N/A 1157640
INVESCO OPTIMUM YIELD DIVERS PDBC 5.56 33260600 N/A 1817520
SCHWAB HIGH YIELD BOND ETF SCYB 5.10 30533900 BBG01F80WX71 1214070
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.07 30326100 BBG000PWYVH7 382471
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.05 18270100 BBG000NXKWH0 198631
SCHWAB U.S. TIPS ETF SCHP 3.01 18003100 BBG000BGN6P5 709903
APPLE INC AAPL 2.21 13220400 BBG000B9XRY4 37934
Vanguard Morningstar Small-Cap ETF VB 2.06 12344800 BBG000HT3Z79 42108
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.04 12187300 BBG01922X0X9 244185
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.02 12066200 BBG00PZFJPC3 409718
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 12003600 BBG00H5VLMJ6 136327
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.95 11656000 N/A 357764
NVIDIA CORP NVDA 1.85 11044100 BBG000BBJQV0 65392
Simplify DBi CTA Managed Futures Index ETF SDMF 1.78 10624400 BBG020BR8WR7 403585
MICROSOFT CORP MSFT 1.74 10429100 BBG000BPH459 19561
AMAZON.COM INC AMZN 1.28 7678080 BBG000BVPV84 28346
ADVANCED MICRO DEVICES INC AMD 1.14 6798710 BBG000BBQCY0 13196
SPROTT PHYSICAL GOLD TRUS PHYS 1.06 6320760 BBG000Q83F79 207442
Franklin FTSE Europe ETF FLEE 1.04 6239420 BBG00J3PR1S7 159647
Franklin FTSE Japan ETF FLJP 1.00 5975210 BBG00J3MDY16 154598
MICRON TECHNOLOGY INC MU 0.98 5862510 BBG000C5Z1S3 8085
Tesla Inc. TSLA 0.87 5224630 BBG000N9MNX3 13757
META PLATFORMS INC META 0.84 4994500 BBG000MM2P62 7787
SPACE EXPLORATION TECH CORP A SPCX 0.77 4600060 BBG000NQF3Z5 32148
ALPHABET INC-CL A GOOGL 0.75 4456400 BBG009S39JX6 15507
Broadcom Inc. AVGO 0.73 4376820 BBG00KHY5S69 13184
WAL-MART STORES INC WMT 0.71 4256020 BBG000BWXBC2 33899
ALPHABET INC-CL C GOOG 0.69 4131620 BBG009S3NB30 14501
COSTCO WHOLESALE CORP COST 0.55 3303970 BBG000F6H8W8 3099
INTEL CORP INTC 0.53 3140240 BBG000C0G1D1 54021
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.49 2946580 BBG000N7QR55 17454
CISCO SYSTEMS INC CSCO 0.48 2858520 BBG000C3J3C9 29124
CHEVRON CORP CVX 0.46 2727480 BBG000K4ND22 12913
BHP GROUP LTD BHP 0.44 2621560 BBG000BD5NZ4 32317
APPLIED MATERIALS INC AMAT 0.38 2286220 BBG000BBPFB9 6137
EQT CORP EQT 0.38 2282120 BBG000BHZ5J9 43887
SCHLUMBERGER LTD SLB 0.38 2283070 BBG000BT41Q8 45753
WILLIAMS COMPANIES INC. WMB 0.37 2222270 BBG000BWVCP8 32942
OCCIDENTAL PETROLEUM CORP OXY 0.36 2166920 BBG000BQQ2S6 38083
Cheniere Energy Inc LNG 0.36 2173290 BBG000C3HSR0 7405
LAM RESH CORP LRCX 0.36 2124940 BBG000BNFLM9 9555
MARATHON PETROLEUM CORP MPC 0.36 2148760 BBG001DCCGR8 5516
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.36 2139430 BBG023CY9MM1 13008
CANADIAN NATURAL RESOURCES CNQ 0.35 2095300 BBG000HW5GX3 43435
Suncor Energy Inc. SU 0.35 2085950 BBG000BC1LY5 30789
TEXAS INSTRUMENTS INC TXN 0.34 2026110 BBG000BVV7G1 6742
PALO ALTO NETWORKS INC PANW 0.33 1975460 BBG0014GJCT9 6053
NETFLIX INC NFLX 0.31 1859400 BBG000CL9VN6 29393
PEPSICO INC PEP 0.31 1829020 BBG000DH7JK6 12736
AMGEN INC AMGN 0.29 1742290 BBG000BBS2Y0 3745
Crowdstrike Holdings Inc. Class A CRWD 0.29 1714650 BBG00BLYKS03 7595
AUTOMATIC DATA PROCESSING ADP 0.29 1751390 BBG000JG0547 5734
Kimberly-Clark Corp KMB 0.28 1676340 BBG000BMW2Z0 15134.8
NEWMONT GOLDCORP CORPORATION COM NEM 0.28 1663130 BBG000BPWXK1 13864
LINDE PLC LIN 0.28 1656130 BBG01FND0CC1 3174
KLA CORPORATION KLAC 0.26 1531580 BBG000BMTFR4 10011
QUALCOMM INC QCOM 0.25 1488020 BBG000CGC1X8 8575
GILEAD SCIENCES INC GILD 0.24 1445900 BBG000CKGBP2 8462
ANALOG DEVICES INC ADI 0.24 1462290 BBG000BB6G37 3718
SHOPIFY INC - CLASS A SHOP 0.23 1385460 BBG004DW5NB8 9450
AGNICO EAGLE MINES LTD AEM 0.21 1277990 BBG000DLVDK3 6710
INTUITIVE SURGICAL INC ISRG 0.20 1190810 BBG000BJPDZ1 2646
T-MOBILE US INC TMUS 0.20 1173420 BBG000NDV1D4 6940
FREEPORT-MCMORAN INC FCX 0.19 1119900 BBG000BJDB15 18569
RIO TINTO PLC-SPON ADR RIO 0.19 1133090 BBG000FD28T3 13403
REALTY INCOME CORP O 0.18 1074880 BBG000DHPN63 18053
FRANKLIN RESOURCES INC BEN 0.18 1054730 BBG000BD0TF8 29064
CLOROX COMPANY CLX 0.18 1090200 BBG000BFS7D3 10227
SANDISK CORP/DE SNDKV SNDK 0.18 1070690 BBG01R388JG1 1245
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1072860 BBG00ZXBJ153 6949
ASML HOLDING NV-NY REG SHS ASML 0.18 1057000 BBG000K6MRN4 701
STANLEY BLACK & DECKER INC SWK 0.17 1029100 BBG000BTQR96 8838
HORMEL FOODS CORP HRL 0.16 946546 BBG000BLF8D2 42618
MEDTRONIC PLC MDT 0.16 954844 BBG000BNWG87 9399
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.16 948741 BBG000B9ZXB4 8589
ILLINOIS TOOL WORKS ITW 0.16 933858 BBG000BMBL90 3242
T ROWE PRICE GROUP INC TROW 0.16 973258 BBG000BVMPN3 8776
VERTEX PHARMACEUTICALS INC VRTX 0.16 954972 BBG000C1S2X2 1743
APPLOVIN CORP APP 0.16 942896 BBG006HFPX77 2384
GENUINE PARTS CO GPC 0.15 878707 BBG000BKL348 7046
AO Smith Corp AOS 0.15 924660 BBG000BC1L02 14367
WELLTOWER INC WELL 0.15 889595 BBG000BKY1G5 3592
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 918968 BBG0113JGQF0 1832
STARBUCKS CORP SBUX 0.15 898292 BBG000CTQBF3 8170
AMCOR PLC COMMON STOCK USD.01 AMCR 0.15 874201 N/A 19345
WESTERN DIGITAL CORP WDC 0.14 826244 BBG000BWNFZ9 2857
GLENCORE PLC -UNSP ADR GLNCY 0.14 830035 BBG001VKX1Z1 61621
BOOKING HOLDINGS INC BKNG 0.14 850130 BBG000BLBVN4 5338
Barrick Mining Corp. B 0.14 856947 N/A 21591
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 795675 BBG000PVRDL2 5824
PPG INDUSTRIES INC PPG 0.13 761326 BBG000BRJ809 6119
Marriott International, Inc Class A MAR 0.13 780290 BBG000BGD7W6 1822
EVERSOURCE ENERGY ES 0.13 803415 BBG000BQ87N0 11540
International Business Machines Corporation IBM 0.13 753152 BBG000BLNNH6 3080
NUCOR CORP NUE 0.12 691700 BBG000BQ8KV2 2697
MODERNA INC MRNA 0.12 689782 BBG003PHHZT1 2750
ADOBE SYSTEMS INC ADBE 0.12 689980 BBG000BB5006 2915
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.12 691421 N/A 26914
CADENCE DESIGN SYS INC CDNS 0.11 678535 BBG000C13CD9 2046
ARM HOLDINGS PLC ARM 0.11 654997 BBG01J1GXZF0 3609
CONSTELLATION ENERGY CORPORATION CEG 0.11 684930 BBG014KFRNP7 2558
MONSTER BEVERAGE CORP MNST 0.11 642060 BBG008NVB1C0 14161
INTUIT INC INTU 0.11 666241 BBG000BH5DV1 1957
CSX CORP CSX 0.11 656633 BBG000BGJRC8 12855
SYNOPSYS INC SNPS 0.11 660488 BBG000BSFRF3 1436
FORTINET INC FTNT 0.11 665919 BBG000BCMBG4 5389
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 614651 BBG000BBTJZ1 2259
COMCAST CORP-CLASS A CMCSA 0.10 589644 BBG000BFT2L4 23824
FRANCO-NEVADA CORP FNV 0.10 627709 BBG000TRN6Z1 2454
REGENERON PHARMACEUTICALS REGN 0.10 609180 BBG000C734W3 665
PROLOGIS INC PLD 0.10 614202 BBG000B9Z0J8 4721
CINTAS CORP CTAS 0.10 616817 BBG000H3YXF8 2738
EQUINIX INC EQIX 0.09 565950 BBG000MBDGM6 539
ROSS STORES INC ROST 0.09 567745 BBG000BSBZH7 2376
AIRBNB INC ABNB 0.09 551168 BBG001Y2XS07 2949
MERCADOLIBRE INC MELI 0.09 554369 BBG000GQPB11 372
DOORDASH INC CLASS A DASH 0.09 541880 BBG005D7QCJ3 3040
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 560466 BBG000D4LWF6 8423
ROPER TECHNOLOGIES INC ROP 0.08 492025 BBG000F1ZSN5 1037
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 484663 BBG000C30L48 357
NXP Semiconductors NV NXPI 0.08 496441 BBG000BND699 1898
OREILLY AUTOMOTIVE INC ORLY 0.08 487086 BBG000BGYWY6 5449
Datadog Inc. Class A DDOG 0.08 466516 BBG003NJHZT9 2615
SIMON PROPERTY GROUP INC SPG 0.08 457939 BBG000BJ2D31 1953
AMERICAN ELECTRIC POWER AEP 0.08 473392 BBG000BB9KF2 3703
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.08 502540 BBG022XF4SZ9 2202
PUBLIC STORAGE PSA 0.07 439060 BBG000BPPN67 1307
FASTENAL CO FAST 0.07 445959 BBG000BJ8YN7 8132
VALE SA-SP ADR VALE 0.07 434945 BBG000BN5LG7 37560
DIGITAL REALTY TRUST INC DLR 0.07 432122 BBG000Q5ZRM7 2389
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.07 406440 BBG00CMNZNK7 406440
LUMENTUM HOLDINGS INC LITE 0.07 435664 BBG0073F9RT7 744
HONEYWELL AEROSPACE INC HONAV HONAV 0.07 394700 BBG020QYV152 2371
XCEL ENERGY INC XEL 0.06 364226 BBG000BCTQ65 4546
PAYPAL HOLDINGS INC PYPL 0.06 375369 BBG0077VNXV6 6386
EXELON CORP EXC 0.06 357183 BBG000J6XT05 7845
IDEXX LABS IDXX 0.06 375489 BBG000BLRT07 539
KEURIG DR PEPPER INC KDP 0.06 383042 BBG000TJM7F0 10190
FERROVIAL SA FER 0.06 331229 BBG01H0DF657 5430.88
PACCAR INC PCAR 0.06 377202 BBG000BQVTF5 3573
DIAMONDBACK ENERGY INC FANG 0.06 358119 BBG002PHSYX9 2011
AUTODESK INC ADSK 0.06 383662 BBG000BM7HL0 1475
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 366510 BBG00LBLDDR2 4616
Ventas Inc. VTR 0.06 386384 BBG000FRVHB9 4277
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 374632 BBG00B6BFWH9 3187
Vivmark Residential VMRK 0.06 385295 BBG000BG8M31 5860
MICROSTRATEGY INC-CL A MSTR 0.06 341902 BBG000GQJPZ0 2824
IRON MOUNTAIN INC IRM 0.05 291351 BBG000KCZPC3 2630
ASTERA LABS INC ALAB 0.05 313245 BBG00TDKHW99 1449
Baker Hughes Company BKR 0.05 317336 BBG00GBVBK51 6643
TERADYNE INC TER 0.05 278284 BBG000BV4DR6 1134
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 285517 BBG000BS1YV5 1271
Nebius Group NV NBIS 0.05 269340 BBG001NVJ6W4 2010
THOMSON REUTERS CORP TRI 0.05 277421 N/A 2559
ROCKET LAB CORP RKLB 0.05 282383 BBG01V7JN3F3 4503
PAYCHEX INC PAYX 0.05 313508 BBG000BQSQ38 2698
MICROCHIP TECHNOLOGY INC MCHP 0.04 239872 BBG000BHCP19 3976
Old Dominion Freight Line Inc. ODFL 0.04 235396 BBG000CHSS88 1401
EXTRA SPACE STORAGE INC EXR 0.04 254002 BBG000PV27K3 1598
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 265923 BBG01BFR8YV1 3179
WORKDAY INC-CLASS A WDAY 0.04 232146 BBG000VC0T95 1229
VICI PROPERTIES INC REIT VICI 0.04 248725 BBG00HVVB499 9953
DEXCOM INC DXCM 0.04 235045 BBG000QTF8K1 2941
AXON ENTERPRISE INC AXON 0.03 171843 BBG000BHJWG1 568
AIR PRODUCTS & CHEMICALS INC APD 0.03 180480 BBG000BC4JJ4 578
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 162255 BBG000BFGNJ5 1070
ABBVIE INC ABBV 0.03 180742 BBG0025Y4RY4 615
COREWEAVE INC CRWV 0.03 165049 BBG011ZTRJ21 3387
COPART INC CPRT 0.03 194349 BBG000BM9RH1 6017
CONSOLIDATED EDISON INC ED 0.03 185480 BBG000BHLYS1 1555
MCDONALDS CORP MCD 0.03 197519 BBG000BNSZP1 700
REGENCY CENTERS CORP REG 0.02 123842 BBG000BL46Q4 1618
HOST HOTELS & RESORTS INC HST 0.02 124697 BBG000BL8804 4809
Omega Healthcare Investors Inc OHI 0.02 125451 BBG000BGBTC2 2576
ESSEX PROPERTY TRUST INC ESS 0.02 125742 BBG000CGJMB9 456
MID-AMERICA APARTMENT COMM MAA 0.02 122188 BBG000BLMY92 1028
KIMCO REALTY CORP KIM 0.02 127398 BBG000CN3S73 4961
INVITATION HOMES INC REIT USD.01 INVH 0.02 123260 BBG00FQH6BS9 4550
W. P. CAREY REIT INC WPC 0.02 123092 BBG000BCQM58 1883
Cash & Other Cash&Other -0.01 -42012.8 N/A -42012.8

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.