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 10/14/2026
TICKER RAA
NET ASSETS $611M
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 $30.11
30 DAY MEDIAN BID-ASK SPREAD 0.000666

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 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 10/14/2026

NET ASSET VALUE

$30.11

CLOSING PRICE

$30.11

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 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 2
Discount 16 8 14 21 6

Asset Allocation

As of 10/14/2026

Equities

41.54%
Nasdaq
17.57%
US Large Cap
15.03%
US Small Cap
2.96%
Dividend Payers
2.12%
Emerging Ex. China
1.91%
Europe
0.98%
Japan
0.97%

Fixed Income

29.06%
Long Term Treasuries
8.06%
Corporate Bonds
5.98%
High Yield
5.96%
Emerging Mkt Bonds
3.99%
TIPS
3.00%
T-Bills
2.07%

Alternatives

29.40%
Commodities
10.22%
Energy
5.33%
Managed Futures
5.02%
Miners
3.89%
Real Estate
2.01%
Gold
1.97%
Bitcoin
0.96%

Holdings

As of 10/14/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.03 91851400 BBG00RYR67P4 1868420
INVESCO OPTIMUM YIELD DIVERS PDBC 10.22 62470400 N/A 3145540
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.06 49260900 BBG00PZFJPC3 1711640
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.98 36561400 BBG000PWYVH7 465572
SCHWAB HIGH YIELD BOND ETF SCYB 5.96 36408700 BBG01F80WX71 1451700
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.99 24362700 BBG000NXKWH0 267106
iM DBi Managed Futures Strategy ETF DBMF 3.55 21725600 N/A 657156
SCHWAB U.S. TIPS ETF SCHP 3.00 18335300 BBG000BGN6P5 725574
Vanguard Morningstar Small-Cap ETF VB 2.96 18089300 BBG000HT3Z79 63735
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 12171200 BBG01922X0X9 243814
SPROTT PHYSICAL GOLD TRUS PHYS 1.97 12019800 BBG000Q83F79 388235
ISHARES MSCI EMR MRK EX CHNA EMXC 1.91 11663100 BBG00H5VLMJ6 122628
Simplify DBi CTA Managed Futures Index ETF SDMF 1.47 9008040 BBG020BR8WR7 327340
NVIDIA CORP NVDA 1.43 8754850 BBG000BBJQV0 39561
APPLE INC AAPL 1.33 8126440 BBG000B9XRY4 23695
MICROSOFT CORP MSFT 1.06 6474190 BBG000BPH459 12131
Franklin FTSE Europe ETF FLEE 0.98 6004900 BBG00J3PR1S7 160430
Franklin FTSE Japan ETF FLJP 0.97 5956890 BBG00J3MDY16 145895
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.96 5893750 N/A 163307
BHP GROUP LTD BHP 0.83 5064120 BBG000BD5NZ4 60823
MICRON TECHNOLOGY INC MU 0.77 4716910 BBG000C5Z1S3 5160
AMAZON.COM INC AMZN 0.73 4483240 BBG000BVPV84 17645
ADVANCED MICRO DEVICES INC AMD 0.69 4242330 BBG000BBQCY0 7432
META PLATFORMS INC META 0.60 3671470 BBG000MM2P62 4978
MARATHON PETROLEUM CORP MPC 0.60 3696550 BBG001DCCGR8 7623
CHEVRON CORP CVX 0.60 3695860 BBG000K4ND22 16645
OCCIDENTAL PETROLEUM CORP OXY 0.55 3384670 BBG000BQQ2S6 55116
Suncor Energy Inc. SU 0.55 3360480 BBG000BC1LY5 44281
CANADIAN NATURAL RESOURCES CNQ 0.54 3297670 BBG000HW5GX3 63637
ALPHABET INC-CL A GOOGL 0.54 3294930 BBG009S39JX6 9478
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.54 3292030 BBG023CY9MM1 18598
EQT CORP EQT 0.54 3271610 BBG000BHZ5J9 62021
WILLIAMS COMPANIES INC. WMB 0.53 3267990 BBG000BWVCP8 44890
Cheniere Energy Inc LNG 0.52 3177280 BBG000C3HSR0 11360
Tesla Inc. TSLA 0.52 3186210 BBG000N9MNX3 8678
ALPHABET INC-CL C GOOG 0.50 3067420 BBG009S3NB30 8926
SCHLUMBERGER LTD SLB 0.49 3001020 BBG000BT41Q8 61864
SPACE EXPLORATION TECH CORP A SPCX 0.49 2974120 BBG000NQF3Z5 19546
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2803730 BBG000BPWXK1 25132
Broadcom Inc. AVGO 0.46 2817780 BBG00KHY5S69 8138
WAL-MART STORES INC WMT 0.44 2674240 BBG000BWXBC2 23022
FREEPORT-MCMORAN INC FCX 0.38 2310780 BBG000BJDB15 33263
INTEL CORP INTC 0.37 2277950 BBG000C0G1D1 23216
RIO TINTO PLC-SPON ADR RIO 0.37 2271210 BBG000FD28T3 24890
COSTCO WHOLESALE CORP COST 0.34 2076930 BBG000F6H8W8 2115
AGNICO EAGLE MINES LTD AEM 0.34 2099690 BBG000DLVDK3 11862
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 2086470 BBG000N7QR55 10382
CISCO SYSTEMS INC CSCO 0.33 2028470 BBG000C3J3C9 17850
WELLTOWER INC WELL 0.28 1694840 BBG000BKY1G5 7300
APPLIED MATERIALS INC AMAT 0.27 1639580 BBG000BBPFB9 3671
LAM RESH CORP LRCX 0.27 1638890 BBG000BNFLM9 5712
GLENCORE PLC -UNSP ADR GLNCY 0.27 1627040 BBG001VKX1Z1 107680
Barrick Mining Corp. B 0.25 1509710 N/A 38820
NUCOR CORP NUE 0.22 1314600 BBG000BQ8KV2 5113
NETFLIX INC NFLX 0.22 1352900 BBG000CL9VN6 19171
PALO ALTO NETWORKS INC PANW 0.22 1351640 BBG0014GJCT9 3604
PROLOGIS INC PLD 0.22 1352870 BBG000B9Z0J8 10370
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1329690 N/A 49801
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.22 1346980 BBG000PVRDL2 10395
REALTY INCOME CORP O 0.20 1230460 BBG000DHPN63 22303
TEXAS INSTRUMENTS INC TXN 0.20 1212690 BBG000BVV7G1 4321
PEPSICO INC PEP 0.19 1176490 BBG000DH7JK6 9101
Crowdstrike Holdings Inc. Class A CRWD 0.19 1147730 BBG00BLYKS03 4604
AUTOMATIC DATA PROCESSING ADP 0.19 1159960 BBG000JG0547 4138
EQUINIX INC EQIX 0.19 1136320 BBG000MBDGM6 1141
AMGEN INC AMGN 0.18 1098090 BBG000BBS2Y0 2577
LINDE PLC LIN 0.18 1083450 BBG01FND0CC1 2199
KLA CORPORATION KLAC 0.18 1122030 BBG000BMTFR4 6275
FRANCO-NEVADA CORP FNV 0.17 1026230 BBG000TRN6Z1 4366
VALE SA-SP ADR VALE 0.16 960710 BBG000BN5LG7 72726
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 979403 BBG00ZXBJ153 3993
GILEAD SCIENCES INC GILD 0.15 907575 BBG000CKGBP2 5911
SHOPIFY INC - CLASS A SHOP 0.15 939090 BBG004DW5NB8 5444
SANDISK CORP/DE SNDKV SNDK 0.15 906558 BBG01R388JG1 646
ANALOG DEVICES INC ADI 0.15 929422 BBG000BB6G37 2303
QUALCOMM INC QCOM 0.14 837380 BBG000CGC1X8 4851
DIGITAL REALTY TRUST INC DLR 0.13 787312 BBG000Q5ZRM7 4575
T-MOBILE US INC TMUS 0.13 822402 BBG000NDV1D4 5212
SIMON PROPERTY GROUP INC SPG 0.13 817054 BBG000BJ2D31 4112
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.13 777202 BBG00CMNZNK7 777202
PUBLIC STORAGE PSA 0.12 753664 BBG000BPPN67 2610
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 761347 BBG0113JGQF0 1067
Vivmark Residential VMRK 0.12 721210 BBG000BG8M31 11862
Ventas Inc. VTR 0.12 717984 BBG000FRVHB9 8516
INTUITIVE SURGICAL INC ISRG 0.12 710626 BBG000BJPDZ1 1691
MEDTRONIC PLC MDT 0.11 657820 BBG000BNWG87 6981
ABBVIE INC ABBV 0.11 659858 BBG0025Y4RY4 2342
ASML HOLDING NV-NY REG SHS ASML 0.11 684750 BBG000K6MRN4 415
GENUINE PARTS CO GPC 0.10 604445 BBG000BKL348 4592
KENVUE INC KVUE 0.10 613763 BBG01C79X561 34079
AO Smith Corp AOS 0.10 611032 BBG000BC1L02 10566
WESTERN DIGITAL CORP WDC 0.10 613873 BBG000BWNFZ9 1686
STANLEY BLACK & DECKER INC SWK 0.10 611263 BBG000BTQR96 6770
International Business Machines Corporation IBM 0.10 595678 BBG000BLNNH6 2614
CLOROX COMPANY CLX 0.10 637020 BBG000BFS7D3 7497
VERTEX PHARMACEUTICALS INC VRTX 0.10 599696 BBG000C1S2X2 1203
T ROWE PRICE GROUP INC TROW 0.10 580785 BBG000BVMPN3 5830
FORTINET INC FTNT 0.10 630555 BBG000BCMBG4 3426
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 610270 N/A 14434
Kimberly-Clark Corp KMB 0.10 613360 BBG000BMW2Z0 6170
HORMEL FOODS CORP HRL 0.10 609058 BBG000BLF8D2 30745
FRANKLIN RESOURCES INC BEN 0.09 577628 BBG000BD0TF8 18920
ILLINOIS TOOL WORKS ITW 0.09 531934 BBG000BMBL90 1974
EVERSOURCE ENERGY ES 0.09 528493 BBG000BQ87N0 7927
BOOKING HOLDINGS INC BKNG 0.09 551936 BBG000BLBVN4 3435
IRON MOUNTAIN INC IRM 0.09 548535 BBG000KCZPC3 4948
ARM HOLDINGS PLC ARM 0.08 479828 BBG01J1GXZF0 2016
CONSTELLATION ENERGY CORPORATION CEG 0.08 481647 BBG014KFRNP7 1723
Marriott International, Inc Class A MAR 0.08 476673 BBG000BGD7W6 1282
EXTRA SPACE STORAGE INC EXR 0.08 463649 BBG000PV27K3 3458
STARBUCKS CORP SBUX 0.08 513901 BBG000CTQBF3 5511
PPG INDUSTRIES INC PPG 0.08 503271 BBG000BRJ809 4799
MONSTER BEVERAGE CORP MNST 0.07 422036 BBG008NVB1C0 9544
MERCADOLIBRE INC MELI 0.07 435869 BBG000GQPB11 237
ADOBE SYSTEMS INC ADBE 0.07 457292 BBG000BB5006 1900
INTUIT INC INTU 0.07 402641 BBG000BH5DV1 1297
CSX CORP CSX 0.07 435437 BBG000BGJRC8 9019
CINTAS CORP CTAS 0.07 402865 BBG000H3YXF8 1931
VICI PROPERTIES INC REIT VICI 0.07 411062 BBG00HVVB499 17919
SYNOPSYS INC SNPS 0.07 438656 BBG000BSFRF3 914
Datadog Inc. Class A DDOG 0.07 424464 BBG003NJHZT9 1576
CADENCE DESIGN SYS INC CDNS 0.07 410507 BBG000C13CD9 1246
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 367256 BBG000BBTJZ1 1596
COMCAST CORP-CLASS A CMCSA 0.06 363197 BBG000BFT2L4 17254
ROSS STORES INC ROST 0.06 351619 BBG000BSBZH7 1525
AIRBNB INC ABNB 0.06 343642 BBG001Y2XS07 2057
REGENERON PHARMACEUTICALS REGN 0.06 368943 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 361212 BBG005D7QCJ3 1963
APPLOVIN CORP APP 0.06 386992 BBG006HFPX77 1476
OREILLY AUTOMOTIVE INC ORLY 0.06 340518 BBG000BGYWY6 3928
LUMENTUM HOLDINGS INC LITE 0.06 378251 BBG0073F9RT7 422
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 385431 BBG000D4LWF6 6160
PACCAR INC PCAR 0.05 277262 BBG000BQVTF5 2554
ESSEX PROPERTY TRUST INC ESS 0.05 284185 BBG000CGJMB9 1055
AMERICAN ELECTRIC POWER AEP 0.05 330965 BBG000BB9KF2 2624
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 316398 BBG022XF4SZ9 1524
FASTENAL CO FAST 0.05 287300 BBG000BJ8YN7 5525
XCEL ENERGY INC XEL 0.04 226984 BBG000BCTQ65 3012
PAYPAL HOLDINGS INC PYPL 0.04 238593 BBG0077VNXV6 4253
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 269755 BBG000C30L48 217
Baker Hughes Company BKR 0.04 254148 BBG00GBVBK51 4590
TERADYNE INC TER 0.04 263829 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.04 216391 BBG000BKYDP9 11547
MID-AMERICA APARTMENT COMM MAA 0.04 217456 BBG000BLMY92 1906
KEURIG DR PEPPER INC KDP 0.04 217996 BBG000TJM7F0 6582
NXP Semiconductors NV NXPI 0.04 263892 BBG000BND699 1195
KIMCO REALTY CORP KIM 0.04 244879 BBG000CN3S73 10937
INVITATION HOMES INC REIT USD.01 INVH 0.04 262507 BBG00FQH6BS9 9891
DIAMONDBACK ENERGY INC FANG 0.04 260516 BBG002PHSYX9 1319
AUTODESK INC ADSK 0.04 233220 BBG000BM7HL0 1009
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 262676 BBG00LBLDDR2 3225
MICROSTRATEGY INC-CL A MSTR 0.04 217295 BBG000GQJPZ0 1517
W. P. CAREY REIT INC WPC 0.04 237714 BBG000BCQM58 3740
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 229558 BBG00B6BFWH9 2141
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 237289 BBG020QYV152 1514
HOST HOTELS & RESORTS INC HST 0.04 263076 BBG000BL8804 11473
ASTERA LABS INC ALAB 0.04 225811 BBG00TDKHW99 752
Omega Healthcare Investors Inc OHI 0.04 224278 BBG000BGBTC2 4974
MICROCHIP TECHNOLOGY INC MCHP 0.03 185962 BBG000BHCP19 2610
ROPER TECHNOLOGIES INC ROP 0.03 167338 BBG000F1ZSN5 449
EXELON CORP EXC 0.03 209422 BBG000J6XT05 4916
IDEXX LABS IDXX 0.03 191502 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 190766 BBG000BS1YV5 948
FERROVIAL SA FER 0.03 173802 BBG01H0DF657 3462.88
WORKDAY INC-CLASS A WDAY 0.03 186127 BBG000VC0T95 986
Nebius Group NV NBIS 0.03 198845 BBG001NVJ6W4 1069
DEXCOM INC DXCM 0.03 154670 BBG000QTF8K1 1853
ROCKET LAB CORP RKLB 0.03 165053 BBG01V7JN3F3 2789
THOMSON REUTERS CORP TRI 0.03 192671 N/A 1828
PAYCHEX INC PAYX 0.03 185963 BBG000BQSQ38 1716
AXON ENTERPRISE INC AXON 0.03 159284 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 181973 BBG000CHSS88 987
AIR PRODUCTS & CHEMICALS INC APD 0.02 126080 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 136624 BBG000B9ZXB4 1335
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 136927 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 148991 BBG01BFR8YV1 2176
COREWEAVE INC CRWV 0.02 140375 BBG011ZTRJ21 2134
COPART INC CPRT 0.02 115404 BBG000BM9RH1 4393
MCDONALDS CORP MCD 0.02 123921 BBG000BNSZP1 520
CONSOLIDATED EDISON INC ED 0.02 128670 BBG000BHLYS1 1174
Cash & Other Cash&Other -0.01 -44095.9 N/A -44095.9

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.