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 07/09/2026
TICKER RAA
NET ASSETS $594M
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 $29.49
30 DAY MEDIAN BID-ASK SPREAD 0.000681

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 07/09/2026

NET ASSET VALUE

$29.49

CLOSING PRICE

$29.49

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 2
Discount 13 16 8 14 1

Asset Allocation

As of 7/9/2026

Equities

40.38%
Nasdaq
15.75%
US Large Cap
10.05%
Emerging Ex. China
3.83%
Dividend Payers
3.81%
US Small Cap
2.95%
Japan
2.00%
Europe
1.99%

Fixed Income

27.46%
High Yield
5.99%
Corporate Bonds
5.94%
Long Term Treasuries
5.86%
Emerging Mkt Bonds
3.98%
TIPS
2.97%
T-Bills
2.72%

Alternatives

32.16%
Commodities
7.22%
Managed Futures
7.02%
Miners
5.86%
Gold
4.10%
Energy
3.75%
Bitcoin
2.15%
Real Estate
2.06%

Holdings

As of 07/09/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.05 59710200 BBG00RYR67P4 414194
INVESCO OPTIMUM YIELD DIVERS PDBC 7.22 42916400 N/A 2613670
SCHWAB HIGH YIELD BOND ETF SCYB 5.99 35569500 BBG01F80WX71 1362820
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.94 35319200 BBG000PWYVH7 431142
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.86 34822600 BBG00PZFJPC3 1135400
iM DBi Managed Futures Strategy ETF DBMF 5.81 34540700 N/A 1122910
SPROTT PHYSICAL GOLD TRUS PHYS 4.10 24373600 BBG000Q83F79 784221
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 23630900 BBG000NXKWH0 246258
ISHARES MSCI EMR MRK EX CHNA EMXC 3.83 22768800 BBG00H5VLMJ6 232358
SCHWAB U.S. TIPS ETF SCHP 2.97 17663000 BBG000BGN6P5 673390
VANGUARD SMALL-CAP ETF VB 2.95 17546900 BBG000HT3Z79 58748
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.15 12801100 N/A 457836
Franklin FTSE Japan ETF FLJP 2.00 11907200 BBG00J3MDY16 298276
Franklin FTSE Europe ETF FLEE 1.99 11837500 BBG00J3PR1S7 306410
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 11852000 BBG01922X0X9 237467
NVIDIA CORP NVDA 1.22 7269870 BBG000BBJQV0 35851
Simplify DBi CTA Managed Futures Index ETF SDMF 1.21 7188760 BBG020BR8WR7 279936
BHP GROUP LTD BHP 1.20 7100640 BBG000BD5NZ4 88858
APPLE INC AAPL 1.15 6833200 BBG000B9XRY4 21609
MICRON TECHNOLOGY INC MU 0.78 4627980 BBG000C5Z1S3 4667
MICROSOFT CORP MSFT 0.72 4270240 BBG000BPH459 11110
NEWMONT GOLDCORP CORPORATION COM NEM 0.69 4088300 BBG000BPWXK1 43121
AMAZON.COM INC AMZN 0.68 4021810 BBG000BVPV84 16280
RIO TINTO PLC-SPON ADR RIO 0.64 3809230 BBG000FD28T3 42566
ADVANCED MICRO DEVICES INC AMD 0.58 3474950 BBG000BBQCY0 6356
CHEVRON CORP CVX 0.53 3159880 BBG000K4ND22 18155
FREEPORT-MCMORAN INC FCX 0.52 3070510 BBG000BJDB15 50727
ALPHABET INC-CL A GOOGL 0.52 3118400 BBG009S39JX6 8689
Tesla Inc. TSLA 0.51 3026760 BBG000N9MNX3 7445
AGNICO EAGLE MINES LTD AEM 0.49 2940510 BBG000DLVDK3 19731
ALPHABET INC-CL C GOOG 0.49 2903360 BBG009S3NB30 8150
GLENCORE PLC -UNSP ADR GLNCY 0.48 2827020 BBG001VKX1Z1 205005
META PLATFORMS INC META 0.48 2839770 BBG000MM2P62 4497
Broadcom Inc. AVGO 0.48 2835850 BBG00KHY5S69 7070
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.43 2556480 BBG000BRK7L6 43708
Cheniere Energy Inc LNG 0.43 2541050 BBG000C3HSR0 9725
MARATHON PETROLEUM CORP MPC 0.43 2578880 BBG001DCCGR8 9103
CANADIAN NATURAL RESOURCES CNQ 0.42 2494710 BBG000HW5GX3 59568
OCCIDENTAL PETROLEUM CORP OXY 0.42 2507730 BBG000BQQ2S6 47949
SCHLUMBERGER LTD SLB 0.41 2407400 BBG000BT41Q8 50961
WILLIAMS COMPANIES INC. WMB 0.40 2367470 BBG000BWVCP8 31378
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.40 2387130 N/A 17366
WAL-MART STORES INC WMT 0.39 2296150 BBG000BWXBC2 20463
Barrick Mining Corp. B 0.38 2268060 N/A 61582
INTEL CORP INTC 0.37 2207920 BBG000C0G1D1 19619
EQT CORP EQT 0.37 2216780 BBG000BHZ5J9 44203
CISCO SYSTEMS INC CSCO 0.33 1935320 BBG000C3J3C9 16358
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.33 1953130 N/A 79428
NUCOR CORP NUE 0.31 1826700 BBG000BQ8KV2 8218
APPLIED MATERIALS INC AMAT 0.31 1842510 BBG000BBPFB9 3130
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1823730 BBG000PVRDL2 16482
REALTY INCOME CORP O 0.31 1816070 BBG000DHPN63 28749
LAM RESH CORP LRCX 0.30 1765140 BBG000BNFLM9 4998
COSTCO WHOLESALE CORP COST 0.29 1702690 BBG000F6H8W8 1865
AUTOMATIC DATA PROCESSING ADP 0.28 1686310 BBG000JG0547 6989
FRANCO-NEVADA CORP FNV 0.26 1548400 BBG000RD3CL8 7441
WELLTOWER INC WELL 0.26 1533620 BBG000BKY1G5 6607
VALE SA-SP ADR VALE 0.25 1509550 BBG000BN5LG7 106157
PROLOGIS INC PLD 0.25 1463780 BBG000B9Z0J8 10355
NETFLIX INC NFLX 0.23 1347670 BBG000CL9VN6 17857
MEDTRONIC PLC MDT 0.21 1235770 BBG000BNWG87 14999
KENVUE INC KVUE 0.20 1191540 BBG01C79X561 62124
Kimberly-Clark Corp KMB 0.20 1187130 BBG000BMW2Z0 10799
FRANKLIN RESOURCES INC BEN 0.20 1184530 BBG000BD0TF8 35170
CLOROX COMPANY CLX 0.20 1165420 BBG000BFS7D3 12522
PALO ALTO NETWORKS INC PANW 0.20 1171910 BBG0014GJCT9 3464
KLA CORPORATION KLAC 0.20 1175140 BBG000BMTFR4 5120
ILLINOIS TOOL WORKS ITW 0.20 1173950 BBG000BMBL90 4422
T ROWE PRICE GROUP INC TROW 0.20 1209830 BBG000BVMPN3 10336
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1202780 BBG000N7QR55 9321
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1169210 N/A 27382
HORMEL FOODS CORP HRL 0.19 1140250 BBG000BLF8D2 46866
TEXAS INSTRUMENTS INC TXN 0.19 1128600 BBG000BVV7G1 3658
EQUINIX INC EQIX 0.19 1138360 BBG000MBDGM6 1100
EVERSOURCE ENERGY ES 0.19 1157520 BBG000BQ87N0 15657
GENUINE PARTS CO GPC 0.18 1069220 BBG000BKL348 8604
STANLEY BLACK & DECKER INC SWK 0.18 1089070 BBG000BTQR96 12544
International Business Machines Corporation IBM 0.18 1076660 BBG000BLNNH6 3646
SANDISK CORP/DE SNDKV SNDK 0.18 1064790 BBG01R388JG1 573
LINDE PLC LIN 0.17 995411 BBG01FND0CC1 1894
AO Smith Corp AOS 0.16 950576 BBG000BC1L02 16106
PPG INDUSTRIES INC PPG 0.16 953423 BBG000BRJ809 8222
ABBVIE INC ABBV 0.16 976898 BBG0025Y4RY4 3909
WESTERN DIGITAL CORP WDC 0.15 889619 BBG000BWNFZ9 1539
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 889200 BBG0113JGQF0 999
PEPSICO INC PEP 0.14 803862 BBG000DH7JK6 5831
QUALCOMM INC QCOM 0.14 838400 BBG000CGC1X8 4387
AMGEN INC AMGN 0.14 820327 BBG000BBS2Y0 2256
J M Smucker Co COM STK NPV SJM 0.14 841503 BBG000BT1715 7590
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 818888 BBG00ZXBJ153 3367
Crowdstrike Holdings Inc. Class A CRWD 0.14 854310 BBG00BLYKS03 4306
T-MOBILE US INC TMUS 0.14 840252 BBG000NDV1D4 4630
SIMON PROPERTY GROUP INC SPG 0.14 814026 BBG000BJ2D31 3705
ANALOG DEVICES INC ADI 0.13 791216 BBG000BB6G37 2010
PUBLIC STORAGE PSA 0.12 705764 BBG000BPPN67 2210
ERIE INDEMNITY COMPANY-CL A ERIE 0.12 691142 BBG000BBTJZ1 2789
GILEAD SCIENCES INC GILD 0.12 698336 BBG000CKGBP2 5179
DIGITAL REALTY TRUST INC DLR 0.12 724135 BBG000Q5ZRM7 4038
ASML HOLDING NV-NY REG SHS ASML 0.12 707266 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 679060 BBG000FRVHB9 7402
SHOPIFY INC - CLASS A SHOP 0.11 669798 BBG008HBD923 5438
INTUITIVE SURGICAL INC ISRG 0.11 676588 BBG000BJPDZ1 1644
APPLOVIN CORP APP 0.11 642211 BBG006HFPX77 1234
VERTEX PHARMACEUTICALS INC VRTX 0.10 578422 BBG000C1S2X2 1165
BOOKING HOLDINGS INC BKNG 0.10 572722 BBG000BLBVN4 3263
IRON MOUNTAIN INC IRM 0.09 540408 BBG000KCZPC3 4523
ARM HOLDINGS PLC ARM 0.09 552461 BBG01J1GXZF0 1685
STARBUCKS CORP SBUX 0.09 507469 BBG000CTQBF3 4769
FORTINET INC FTNT 0.09 529339 BBG000BCMBG4 3233
CADENCE DESIGN SYS INC CDNS 0.08 479736 BBG000C13CD9 1243
Marriott International, Inc Class A MAR 0.08 459256 BBG000BGD7W6 1233
EXTRA SPACE STORAGE INC EXR 0.08 456861 BBG000PV27K3 3202
VICI PROPERTIES INC REIT VICI 0.08 457094 BBG00HVVB499 17628
FASTENAL CO FAST 0.07 443755 BBG000BJ8YN7 9574
COMCAST CORP-CLASS A CMCSA 0.07 395791 BBG000BFT2L4 16954
EQUITY RESIDENTIAL EQR 0.07 421069 BBG000BG8M31 6184
CONSTELLATION ENERGY CORPORATION CEG 0.07 421494 BBG014KFRNP7 1681
ADOBE SYSTEMS INC ADBE 0.07 394090 BBG000BB5006 1770
MONSTER BEVERAGE CORP MNST 0.07 439399 BBG008NVB1C0 4551
MERCADOLIBRE INC MELI 0.07 417609 BBG000GQPB11 231
CSX CORP CSX 0.07 439758 BBG000BGJRC8 8911
SYNOPSYS INC SNPS 0.07 400806 BBG000BSFRF3 904
AVALONBAY COMMUNITIES INC AVB 0.07 445610 BBG000BLPBL5 2352
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 345486 BBG000D4LWF6 5926
NXP Semiconductors NV NXPI 0.06 344580 BBG000BND699 1186
DOORDASH INC CLASS A DASH 0.06 351616 BBG005D7QCJ3 1828
INTUIT INC INTU 0.06 332157 BBG000BH5DV1 1215
CINTAS CORP CTAS 0.06 336723 BBG000H3YXF8 1895
OREILLY AUTOMOTIVE INC ORLY 0.06 335884 BBG000BGYWY6 3946
Datadog Inc. Class A DDOG 0.06 381711 BBG003NJHZT9 1419
AMERICAN ELECTRIC POWER AEP 0.06 345601 BBG000BB9KF2 2582
Cash & Other Cash&Other 0.05 303442 N/A 303442
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 323512 BBG022XF4SZ9 1448
PACCAR INC PCAR 0.05 302652 BBG000BQVTF5 2455
Warner Bros Discovery Inc WBD 0.05 311012 BBG011386VF4 11679
ASTERA LABS INC ALAB 0.05 267585 BBG00TDKHW99 641
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 307805 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 296942 BBG000CGJMB9 1020
ROSS STORES INC ROST 0.05 314796 BBG000BSBZH7 1427
AIRBNB INC ABNB 0.05 282323 BBG001Y2XS07 1922
REGENERON PHARMACEUTICALS REGN 0.05 313269 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 307475 BBG00FQH6BS9 10469
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 317990 BBG00CMNZNK7 317990
XCEL ENERGY INC XEL 0.04 227973 BBG000BCTQ65 2885
MICROCHIP TECHNOLOGY INC MCHP 0.04 222856 BBG000BHCP19 2525
Sun Communities Inc SUI 0.04 238905 BBG000BLJWF3 2012
HOST HOTELS & RESORTS INC HST 0.04 247835 BBG000BL8804 10701
AXON ENTERPRISE INC AXON 0.04 211266 BBG000BHJWG1 363
Baker Hughes Company BKR 0.04 261747 BBG00GBVBK51 4576
Old Dominion Freight Line Inc. ODFL 0.04 213428 BBG000CHSS88 945
TERADYNE INC TER 0.04 229258 BBG000BV4DR6 632
EXELON CORP EXC 0.04 227587 BBG000J6XT05 4907
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 209677 BBG000BS1YV5 852
MID-AMERICA APARTMENT COMM MAA 0.04 232288 BBG000BLMY92 1708
KIMCO REALTY CORP KIM 0.04 230777 BBG000CN3S73 9257
FERROVIAL SE FER 0.04 216082 BBG01H7CZ9S9 3347
MCDONALDS CORP MCD 0.04 242482 BBG000BNSZP1 877
DIAMONDBACK ENERGY INC FANG 0.04 238420 BBG002PHSYX9 1310
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 254634 BBG00LBLDDR2 2965
W. P. CAREY REIT INC WPC 0.04 236297 BBG000BCQM58 3330
LUMENTUM HOLDINGS INC LITE 0.04 260876 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 226784 BBG00B6BFWH9 2158
ELECTRONIC ARTS INC EA 0.04 233206 BBG000BP0KQ8 1129
PAYCHEX INC PAYX 0.03 167678 BBG000BQSQ38 1578
PAYPAL HOLDINGS INC PYPL 0.03 194015 BBG0077VNXV6 4281
ROPER TECHNOLOGIES INC ROP 0.03 165156 BBG000F1ZSN5 464
AIR PRODUCTS & CHEMICALS INC APD 0.03 192007 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 202772 BBG000BLRT07 363
KEURIG DR PEPPER INC KDP 0.03 196577 BBG000TJM7F0 6399
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 203243 BBG000B9ZXB4 2153
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 194243 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 180311 BBG001NVJ6W4 834
AUTODESK INC ADSK 0.03 206911 BBG000BM7HL0 992
CONSOLIDATED EDISON INC ED 0.03 193083 BBG000BHLYS1 1751
ROCKET LAB CORP RKLB 0.03 194240 BBG01V7JN3F3 2353
THOMSON REUTERS CORP TRI 0.03 171314 N/A 1929
KRAFT HEINZ CO/THE KHC 0.02 138430 BBG005CPNTQ2 5609
WORKDAY INC-CLASS A WDAY 0.02 119249 BBG000VC0T95 862
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 139687 BBG01BFR8YV1 2159
COPART INC CPRT 0.02 127173 BBG000BM9RH1 4489
DEXCOM INC DXCM 0.02 123112 BBG000QTF8K1 1686
MICROSTRATEGY INC-CL A MSTR 0.02 129005 BBG000GQJPZ0 1374
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 86.8 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 147.12 BBG003338H34 1
INSMED INC INSM 0.00 118.26 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 223.12 BBG020QYV152 1

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.