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 06/16/2026
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 $30.00
30 DAY MEDIAN BID-ASK SPREAD 0.000669

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 3.18% -3.97% 5.74% 0.68% 10.86% 0.68% 19.02% 11.92%
RAA - Market Price 3.12% -3.98% 5.76% 0.63% 10.84% 0.63% 19.02% 11.89%
S&P 500 Index Total Return 5.26% -4.98% 10.52% -4.33% 11.27% -4.33% 22.66% 10.18%
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 06/16/2026

NET ASSET VALUE

$30.00

CLOSING PRICE

$30.00

PREMIUM/DISCOUNT

0.01%
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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 35
Discount 5 13 16 8 11

Asset Allocation

As of 6/16/2026

Equities

42.41%
Nasdaq
16.96%
US Large Cap
15.11%
Dividend Payers
3.17%
Japan
2.06%
US Small Cap
2.05%
Emerging Ex. China
2.04%
Europe
1.02%

Fixed Income

19.34%
High Yield
6.08%
Emerging Mkt Bonds
4.08%
Corporate Bonds
4.05%
TIPS
3.02%
T-Bills
1.09%
Long Term Treasuries
1.02%

Alternatives

38.25%
Managed Futures
10.06%
Commodities
9.64%
Energy
4.95%
Gold
4.80%
Miners
4.05%
Bitcoin
2.67%
Real Estate
2.08%

Holdings

As of 06/16/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.11 90357100 BBG00RYR67P4 628440
INVESCO OPTIMUM YIELD DIVERS PDBC 9.64 57615700 N/A 3456250
iM DBi Managed Futures Strategy ETF DBMF 9.05 54129300 N/A 1767200
SCHWAB HIGH YIELD BOND ETF SCYB 6.08 36336000 BBG01F80WX71 1387140
SPROTT PHYSICAL GOLD TRUS PHYS 4.80 28709700 BBG000Q83F79 880125
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.08 24374400 BBG000NXKWH0 252140
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.05 24223400 BBG000PWYVH7 293297
SCHWAB U.S. TIPS ETF SCHP 3.02 18070700 BBG000BGN6P5 680115
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.67 15981100 N/A 550314
Franklin FTSE Japan ETF FLJP 2.06 12304200 BBG00J3MDY16 304937
VANGUARD SMALL-CAP ETF VB 2.05 12269500 BBG000HT3Z79 41370
ISHARES MSCI EMR MRK EX CHNA EMXC 2.04 12184200 BBG00H5VLMJ6 120148
NVIDIA CORP NVDA 1.38 8238120 BBG000BBJQV0 39719
APPLE INC AAPL 1.22 7280810 BBG000B9XRY4 24331
Franklin FTSE Europe ETF FLEE 1.02 6119720 BBG00J3PR1S7 154677
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.02 6098050 BBG00PZFJPC3 195200
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.02 6089980 BBG01922X0X9 121946
Simplify DBi CTA Managed Futures Index ETF SDMF 1.01 6019350 BBG020BR8WR7 236230
BHP GROUP LTD BHP 0.83 4955110 BBG000BD5NZ4 53563
MICRON TECHNOLOGY INC MU 0.83 4983350 BBG000C5Z1S3 4882
MICROSOFT CORP MSFT 0.75 4498720 BBG000BPH459 11423
AMAZON.COM INC AMZN 0.73 4374860 BBG000BVPV84 17784
ADVANCED MICRO DEVICES INC AMD 0.64 3804680 BBG000BBQCY0 7500
ALPHABET INC-CL A GOOGL 0.61 3642170 BBG009S39JX6 9758
CHEVRON CORP CVX 0.59 3533760 BBG000K4ND22 19620
ALPHABET INC-CL C GOOG 0.57 3379610 BBG009S3NB30 9107
Tesla Inc. TSLA 0.56 3355850 BBG000N9MNX3 8293
Cheniere Energy Inc LNG 0.52 3101370 BBG000C3HSR0 13434
WILLIAMS COMPANIES INC. WMB 0.51 3033040 BBG000BWVCP8 42432
MARATHON PETROLEUM CORP MPC 0.51 3049220 BBG001DCCGR8 12174
EXXON MOBIL CORP XOM 0.50 2965730 BBG000GZQ728 20906
CANADIAN NATURAL RESOURCES CNQ 0.49 2926780 BBG000HW5GX3 67593
SCHLUMBERGER LTD SLB 0.49 2935830 BBG000BT41Q8 55320
META PLATFORMS INC META 0.49 2951830 BBG000MM2P62 4918
OCCIDENTAL PETROLEUM CORP OXY 0.48 2887610 BBG000BQQ2S6 53803
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.48 2847750 BBG000BRK7L6 48964
NEWMONT GOLDCORP CORPORATION COM NEM 0.48 2870300 BBG000BPWXK1 26469
EQT CORP EQT 0.47 2834190 BBG000BHZ5J9 55172
WAL-MART STORES INC WMT 0.47 2784660 BBG000BWXBC2 23008
Broadcom Inc. AVGO 0.46 2748480 BBG00KHY5S69 7296
INTEL CORP INTC 0.45 2719660 BBG000C0G1D1 23235
RIO TINTO PLC-SPON ADR RIO 0.45 2705460 BBG000FD28T3 25586
FREEPORT-MCMORAN INC FCX 0.36 2144490 BBG000BJDB15 30570
CISCO SYSTEMS INC CSCO 0.35 2121890 BBG000C3J3C9 17746
COSTCO WHOLESALE CORP COST 0.35 2090770 BBG000F6H8W8 2119
LAM RESH CORP LRCX 0.35 2091210 BBG000BNFLM9 5666
AGNICO EAGLE MINES LTD AEM 0.35 2086810 BBG000DLVDK3 11869
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.34 2059910 BBG00CMNZNK7 2059910
APPLIED MATERIALS INC AMAT 0.33 1972330 BBG000BBPFB9 3471
GLENCORE PLC -UNSP ADR GLNCY 0.32 1892510 BBG001VKX1Z1 119779
REALTY INCOME CORP O 0.27 1598640 BBG000DHPN63 25714
Barrick Mining Corp. B 0.27 1592670 N/A 37238
WELLTOWER INC WELL 0.26 1565600 BBG000BKY1G5 7333
NETFLIX INC NFLX 0.25 1522920 BBG000CL9VN6 19346
PROLOGIS INC PLD 0.25 1486770 BBG000B9Z0J8 10175
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.23 1372990 N/A 49477
KLA CORPORATION KLAC 0.22 1336880 BBG000BMTFR4 5633
SANDISK CORP/DE SNDKV SNDK 0.22 1302470 BBG01R388JG1 654
AUTOMATIC DATA PROCESSING ADP 0.22 1314460 BBG000JG0547 5921
NUCOR CORP NUE 0.21 1265610 BBG000BQ8KV2 4885
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1278940 BBG000PVRDL2 9973
TEXAS INSTRUMENTS INC TXN 0.21 1284900 BBG000BVV7G1 4203
EQUINIX INC EQIX 0.21 1246840 BBG000MBDGM6 1139
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1220040 BBG000N7QR55 9156
LINDE PLC LIN 0.18 1097480 BBG01FND0CC1 2118
WESTERN DIGITAL CORP WDC 0.17 1037970 BBG000BWNFZ9 1524
QUALCOMM INC QCOM 0.17 998422 BBG000CGC1X8 4664
FRANCO-NEVADA CORP FNV 0.17 1031850 BBG000RD3CL8 4483
MEDTRONIC PLC MDT 0.17 993486 BBG000BNWG87 12217
VALE SA-SP ADR VALE 0.17 1009310 BBG000BN5LG7 63161
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1014840 BBG0113JGQF0 984
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.17 1041950 BBG00ZXBJ153 3739
KENVUE INC KVUE 0.16 962562 BBG01C79X561 52228
Kimberly-Clark Corp KMB 0.16 959585 BBG000BMW2Z0 9202
HORMEL FOODS CORP HRL 0.16 957135 BBG000BLF8D2 38829
FRANKLIN RESOURCES INC BEN 0.16 968325 BBG000BD0TF8 29184
CLOROX COMPANY CLX 0.16 965252 BBG000BFS7D3 9899
PALO ALTO NETWORKS INC PANW 0.16 977971 BBG0014GJCT9 3494
STANLEY BLACK & DECKER INC SWK 0.16 965514 BBG000BTQR96 11410
ILLINOIS TOOL WORKS ITW 0.16 975413 BBG000BMBL90 3670
T ROWE PRICE GROUP INC TROW 0.16 945272 BBG000BVMPN3 8677
T-MOBILE US INC TMUS 0.16 935627 BBG000NDV1D4 5075
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 968317 N/A 23378
ANALOG DEVICES INC ADI 0.16 938912 BBG000BB6G37 2257
PEPSICO INC PEP 0.15 921579 BBG000DH7JK6 6307
EVERSOURCE ENERGY ES 0.15 890311 BBG000BQ87N0 12757
SIMON PROPERTY GROUP INC SPG 0.15 891052 BBG000BJ2D31 4140
GENUINE PARTS CO GPC 0.14 844322 BBG000BKL348 7871
AO Smith Corp AOS 0.14 820107 BBG000BC1L02 13614
PPG INDUSTRIES INC PPG 0.14 814870 BBG000BRJ809 6754
AMGEN INC AMGN 0.14 858817 BBG000BBS2Y0 2469
PUBLIC STORAGE PSA 0.13 758483 BBG000BPPN67 2369
DIGITAL REALTY TRUST INC DLR 0.13 792462 BBG000Q5ZRM7 4161
ABBVIE INC ABBV 0.13 785986 BBG0025Y4RY4 3533
GILEAD SCIENCES INC GILD 0.12 724702 BBG000CKGBP2 5696
J M Smucker Co COM STK NPV SJM 0.12 743960 BBG000BT1715 6414
International Business Machines Corporation IBM 0.12 739040 BBG000BLNNH6 2729
Crowdstrike Holdings Inc. Class A CRWD 0.12 720259 BBG00BLYKS03 1060
APPLOVIN CORP APP 0.12 707885 BBG006HFPX77 1374
ASML HOLDING NV-NY REG SHS ASML 0.12 707125 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 666254 BBG000FRVHB9 7942
HONEYWELL INTERNATIONAL INC HON 0.11 655882 BBG000H556T9 2858
INTUITIVE SURGICAL INC ISRG 0.11 673151 BBG000BJPDZ1 1614
BOOKING HOLDINGS INC BKNG 0.11 632065 BBG000BLBVN4 3597
SHOPIFY INC - CLASS A SHOP 0.10 605554 BBG008HBD923 5348
IRON MOUNTAIN INC IRM 0.10 616434 BBG000KCZPC3 4808
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 530931 BBG000BBTJZ1 2353
VERTEX PHARMACEUTICALS INC VRTX 0.09 521146 BBG000C1S2X2 1150
STARBUCKS CORP SBUX 0.09 544293 BBG000CTQBF3 5353
CADENCE DESIGN SYS INC CDNS 0.08 476280 BBG000C13CD9 1228
Marriott International, Inc Class A MAR 0.08 486104 BBG000BGD7W6 1218
EXTRA SPACE STORAGE INC EXR 0.08 491172 BBG000PV27K3 3355
FORTINET INC FTNT 0.08 467818 BBG000BCMBG4 3182
VICI PROPERTIES INC REIT VICI 0.08 484937 BBG00HVVB499 17313
FASTENAL CO FAST 0.07 433284 BBG000BJ8YN7 9409
COMCAST CORP-CLASS A CMCSA 0.07 393892 BBG000BFT2L4 16648
EQUITY RESIDENTIAL EQR 0.07 432928 BBG000BG8M31 6520
CONSTELLATION ENERGY CORPORATION CEG 0.07 442468 BBG014KFRNP7 1651
MONSTER BEVERAGE CORP MNST 0.07 416044 BBG008NVB1C0 4476
CSX CORP CSX 0.07 410610 BBG000BGJRC8 8755
SYNOPSYS INC SNPS 0.07 398610 BBG000BSFRF3 889
AVALONBAY COMMUNITIES INC AVB 0.07 428943 BBG000BLPBL5 2322
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 361775 BBG000D4LWF6 5821
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 335724 BBG000C30L48 224
ADOBE SYSTEMS INC ADBE 0.06 360737 BBG000BB5006 1740
NXP Semiconductors NV NXPI 0.06 354684 BBG000BND699 1171
ROSS STORES INC ROST 0.06 331100 BBG000BSBZH7 1412
MERCADOLIBRE INC MELI 0.06 386712 BBG000GQPB11 231
INTUIT INC INTU 0.06 337188 BBG000BH5DV1 1200
CINTAS CORP CTAS 0.06 329564 BBG000H3YXF8 1865
OREILLY AUTOMOTIVE INC ORLY 0.06 352382 BBG000BGYWY6 3886
AMERICAN ELECTRIC POWER AEP 0.06 329176 BBG000BB9KF2 2537
PACCAR INC PCAR 0.05 291706 BBG000BQVTF5 2410
Warner Bros Discovery Inc WBD 0.05 305075 BBG011386VF4 11469
ESSEX PROPERTY TRUST INC ESS 0.05 309738 BBG000CGJMB9 1104
Baker Hughes Company BKR 0.05 276902 BBG00GBVBK51 4501
DOORDASH INC CLASS A DASH 0.05 305714 BBG005D7QCJ3 1798
REGENERON PHARMACEUTICALS REGN 0.05 288308 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 298381 BBG00FQH6BS9 10289
Datadog Inc. Class A DDOG 0.05 324478 BBG003NJHZT9 1404
LUMENTUM HOLDINGS INC LITE 0.05 290620 BBG0073F9RT7 332
XCEL ENERGY INC XEL 0.04 224303 BBG000BCTQ65 2840
Sun Communities Inc SUI 0.04 246125 BBG000BLJWF3 1982
MICROCHIP TECHNOLOGY INC MCHP 0.04 237162 BBG000BHCP19 2480
HOST HOTELS & RESORTS INC HST 0.04 261599 BBG000BL8804 10506
Old Dominion Freight Line Inc. ODFL 0.04 215407 BBG000CHSS88 930
ARM HOLDINGS PLC ARM 0.04 244938 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 224424 BBG000J6XT05 4817
AIRBNB INC ABNB 0.04 267150 BBG001Y2XS07 1892
MID-AMERICA APARTMENT COMM MAA 0.04 254733 BBG000BLMY92 1867
KIMCO REALTY CORP KIM 0.04 252832 BBG000CN3S73 10073
FERROVIAL SE FER 0.04 228742 BBG01H7CZ9S9 3287
DIAMONDBACK ENERGY INC FANG 0.04 243615 BBG002PHSYX9 1295
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 238243 BBG00LBLDDR2 2920
W. P. CAREY REIT INC WPC 0.04 249043 BBG000BCQM58 3270
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 211183 BBG00B6BFWH9 2128
ELECTRONIC ARTS INC EA 0.04 226164 BBG000BP0KQ8 1114
PAYCHEX INC PAYX 0.03 156738 BBG000BQSQ38 1563
PAYPAL HOLDINGS INC PYPL 0.03 183592 BBG0077VNXV6 4206
ROPER TECHNOLOGIES INC ROP 0.03 156521 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 158047 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 182032 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 207999 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 192485 BBG000BS1YV5 837
KEURIG DR PEPPER INC KDP 0.03 201408 BBG000TJM7F0 6294
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 192386 BBG000B9ZXB4 2123
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 175060 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 196748 BBG000BM7HL0 977
MCDONALDS CORP MCD 0.03 186003 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 186505 BBG000BHLYS1 1721
MICROSTRATEGY INC-CL A MSTR 0.03 166899 BBG000GQJPZ0 1359
THOMSON REUTERS CORP TRI 0.03 154104 N/A 1899
KRAFT HEINZ CO/THE KHC 0.02 131352 BBG005CPNTQ2 5519
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 106694 BBG000BBDV81 2090
Zscaler Inc. ZS 0.02 115907 BBG003338H34 911
VERISK ANALYTICS INC VRSK 0.02 117824 BBG000BCZL41 656
WORKDAY INC-CLASS A WDAY 0.02 107374 BBG000VC0T95 847
COPART INC CPRT 0.02 135686 BBG000BM9RH1 4414
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 134617 BBG01BFR8YV1 2129
DEXCOM INC DXCM 0.02 121153 BBG000QTF8K1 1656
INSMED INC INSM 0.02 91890.2 BBG000BWM5P3 962
CHARTER COMMUNICATIONS INC-A CHTR 0.01 84359.1 BBG000VPGNR2 595
EURO EUR 0.00 1988.5 N/A 1713.03
Cash & Other Cash&Other -0.29 -1731220 N/A -1731220

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.