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 09/15/2026
TICKER RAA
NET ASSETS $608M
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 $30.20
30 DAY MEDIAN BID-ASK SPREAD 0.000982

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 18.28% NA NA 16.03%
RAA - Market Price 18.32% NA NA 16.08%
S&P 500 Index Total Return NA NA NA 19.83%
1 MO 3 MO YTD Since Inception
RAA - NAV 3.57% -2.77% 0.55% 7.07% 11.47% 7.79% 16.03% 15.31%
RAA - Market Price 3.57% -2.70% 0.61% 7.15% 11.50% 7.83% 16.08% 15.38%
S&P 500 Index Total Return 2.72% -0.95% 1.68% 15.20% 13.14% 10.21% 19.83% 20.23%
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 09/15/2026

NET ASSET VALUE

$30.20

CLOSING PRICE

$30.19

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 26
Discount 13 16 8 14 18

Asset Allocation

As of 9/15/2026

Equities

45.58%
Nasdaq
16.78%
US Large Cap
14.98%
Dividend Payers
5.90%
US Small Cap
3.93%
Emerging Ex. China
1.99%
Japan
1.02%
Europe
0.98%

Fixed Income

24.90%
Corporate Bonds
6.93%
High Yield
5.95%
TIPS
3.99%
Emerging Mkt Bonds
3.96%
Long Term Treasuries
2.97%
T-Bills
1.10%

Alternatives

29.52%
Commodities
7.61%
Energy
5.18%
Managed Futures
5.18%
Gold
3.87%
Miners
3.82%
Real Estate
2.88%
Bitcoin
0.98%

Holdings

As of 09/15/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.98 91029500 BBG00RYR67P4 1880000
INVESCO OPTIMUM YIELD DIVERS PDBC 7.61 46222100 N/A 2299600
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.93 42126700 BBG000PWYVH7 529829
SCHWAB HIGH YIELD BOND ETF SCYB 5.95 36146100 BBG01F80WX71 1411960
SCHWAB U.S. TIPS ETF SCHP 3.99 24235400 BBG000BGN6P5 947806
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 24084900 BBG000NXKWH0 259005
Vanguard Morningstar Small-Cap ETF VB 3.93 23896600 BBG000HT3Z79 82150
SPROTT PHYSICAL GOLD TRUS PHYS 3.87 23535700 BBG000Q83F79 725740
iM DBi Managed Futures Strategy ETF DBMF 3.73 22660700 N/A 702876
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.97 18035600 BBG00PZFJPC3 613247
ISHARES MSCI EMR MRK EX CHNA EMXC 1.99 12116700 BBG00H5VLMJ6 124966
Simplify DBi CTA Managed Futures Index ETF SDMF 1.45 8800730 BBG020BR8WR7 328638
NVIDIA CORP NVDA 1.39 8432480 BBG000BBJQV0 39744
APPLE INC AAPL 1.34 8169520 BBG000B9XRY4 24656
MICROSOFT CORP MSFT 1.02 6186160 BBG000BPH459 12444
Franklin FTSE Japan ETF FLJP 1.02 6204140 BBG00J3MDY16 150294
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 6142140 BBG01922X0X9 123015
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.98 5925620 N/A 176148
Franklin FTSE Europe ETF FLEE 0.98 5960630 BBG00J3PR1S7 153942
BHP GROUP LTD BHP 0.79 4801030 BBG000BD5NZ4 56636
MICRON TECHNOLOGY INC MU 0.77 4683450 BBG000C5Z1S3 5049
AMAZON.COM INC AMZN 0.75 4536650 BBG000BVPV84 18262
CHEVRON CORP CVX 0.72 4363680 BBG000K4ND22 20038
ADVANCED MICRO DEVICES INC AMD 0.61 3735620 BBG000BBQCY0 7409
MARATHON PETROLEUM CORP MPC 0.56 3372590 BBG001DCCGR8 8209
ALPHABET INC-CL A GOOGL 0.56 3426000 BBG009S39JX6 9931
Suncor Energy Inc. SU 0.55 3323480 BBG000BC1LY5 46243
META PLATFORMS INC META 0.54 3280150 BBG000MM2P62 4894
OCCIDENTAL PETROLEUM CORP OXY 0.54 3255720 BBG000BQQ2S6 51255
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.53 3231980 BBG023CY9MM1 19088
ALPHABET INC-CL C GOOG 0.52 3177690 BBG009S3NB30 9307
CANADIAN NATURAL RESOURCES CNQ 0.52 3185170 BBG000HW5GX3 61788
EQT CORP EQT 0.49 3004520 BBG000BHZ5J9 56561
WILLIAMS COMPANIES INC. WMB 0.48 2935040 BBG000BWVCP8 40975
Cheniere Energy Inc LNG 0.47 2844480 BBG000C3HSR0 10497
Tesla Inc. TSLA 0.46 2815560 BBG000N9MNX3 7896
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2791670 BBG000BPWXK1 22479
SCHLUMBERGER LTD SLB 0.45 2744850 BBG000BT41Q8 50643
Broadcom Inc. AVGO 0.44 2655810 BBG00KHY5S69 7828
REALTY INCOME CORP O 0.41 2520480 BBG000DHPN63 42931
WELLTOWER INC WELL 0.41 2492630 BBG000BKY1G5 10709
WAL-MART STORES INC WMT 0.39 2388790 BBG000BWXBC2 22100
RIO TINTO PLC-SPON ADR RIO 0.38 2324510 BBG000FD28T3 23900
AUTOMATIC DATA PROCESSING ADP 0.38 2286350 BBG000JG0547 8268
INTEL CORP INTC 0.37 2233640 BBG000C0G1D1 22994
FREEPORT-MCMORAN INC FCX 0.35 2138430 BBG000BJDB15 30822
CISCO SYSTEMS INC CSCO 0.33 1982360 BBG000C3J3C9 18010
PROLOGIS INC PLD 0.33 2019390 BBG000B9Z0J8 14984
AGNICO EAGLE MINES LTD AEM 0.33 2030430 BBG000DLVDK3 10312
MEDTRONIC PLC MDT 0.31 1898810 BBG000BNWG87 20254
PEPSICO INC PEP 0.31 1872750 BBG000DH7JK6 13821
FRANKLIN RESOURCES INC BEN 0.30 1793300 BBG000BD0TF8 53869
COSTCO WHOLESALE CORP COST 0.30 1845060 BBG000F6H8W8 2047
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.30 1813780 BBG000N7QR55 10511
HORMEL FOODS CORP HRL 0.29 1751180 BBG000BLF8D2 84232
ILLINOIS TOOL WORKS ITW 0.29 1767930 BBG000BMBL90 6582
T ROWE PRICE GROUP INC TROW 0.29 1732510 BBG000BVMPN3 16622
KENVUE INC KVUE 0.29 1743760 BBG01C79X561 97308
AO Smith Corp AOS 0.29 1765410 BBG000BC1L02 30853
Kimberly-Clark Corp KMB 0.28 1679650 BBG000BMW2Z0 17022
GLENCORE PLC -UNSP ADR GLNCY 0.28 1672180 BBG001VKX1Z1 107570
STANLEY BLACK & DECKER INC SWK 0.28 1696570 BBG000BTQR96 19153
ABBVIE INC ABBV 0.28 1718700 BBG0025Y4RY4 6534
AMCOR PLC COMMON STOCK USD.01 AMCR 0.28 1695220 N/A 39925
GENUINE PARTS CO GPC 0.28 1730770 BBG000BKL348 13211
EQUINIX INC EQIX 0.27 1661520 BBG000MBDGM6 1650
CLOROX COMPANY CLX 0.27 1630500 BBG000BFS7D3 18707
International Business Machines Corporation IBM 0.26 1572930 BBG000BLNNH6 6333
NETFLIX INC NFLX 0.25 1512350 BBG000CL9VN6 19414
EVERSOURCE ENERGY ES 0.25 1514910 BBG000BQ87N0 22540
LAM RESH CORP LRCX 0.25 1545310 BBG000BNFLM9 5705
Barrick Mining Corp. B 0.25 1518240 N/A 35556
APPLIED MATERIALS INC AMAT 0.25 1541480 BBG000BBPFB9 3660
PPG INDUSTRIES INC PPG 0.24 1467200 BBG000BRJ809 13988
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.24 1427870 BBG00CMNZNK7 1427870
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1407490 BBG000PVRDL2 9382
PALO ALTO NETWORKS INC PANW 0.23 1369080 BBG0014GJCT9 3650
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1258470 N/A 47787
NUCOR CORP NUE 0.21 1270550 BBG000BQ8KV2 4909
ERIE INDEMNITY COMPANY-CL A ERIE 0.20 1203180 BBG000BBTJZ1 4801
SPACE EXPLORATION TECH CORP A SPCX 0.20 1245490 BBG000NQF3Z5 8680
DIGITAL REALTY TRUST INC DLR 0.19 1154860 BBG000Q5ZRM7 6442
SIMON PROPERTY GROUP INC SPG 0.19 1183170 BBG000BJ2D31 5797
Vivmark Residential VMRK 0.19 1183300 BBG000BG8M31 18029.9
TEXAS INSTRUMENTS INC TXN 0.18 1093500 BBG000BVV7G1 4151
FRANCO-NEVADA CORP FNV 0.18 1103930 BBG000TRN6Z1 4196
Crowdstrike Holdings Inc. Class A CRWD 0.18 1075200 BBG00BLYKS03 4434
PUBLIC STORAGE PSA 0.18 1082880 BBG000BPPN67 3650
KLA CORPORATION KLAC 0.17 1014340 BBG000BMTFR4 6037
Ventas Inc. VTR 0.17 1016580 BBG000FRVHB9 11479
LINDE PLC LIN 0.16 986568 BBG01FND0CC1 2131
SANDISK CORP/DE SNDKV SNDK 0.16 988958 BBG01R388JG1 646
AMGEN INC AMGN 0.15 929734 BBG000BBS2Y0 2475
VALE SA-SP ADR VALE 0.15 941201 BBG000BN5LG7 65045
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 914956 BBG00ZXBJ153 4127
T-MOBILE US INC TMUS 0.15 903794 BBG000NDV1D4 5008
QUALCOMM INC QCOM 0.14 879092 BBG000CGC1X8 4681
GILEAD SCIENCES INC GILD 0.14 829960 BBG000CKGBP2 5673
IRON MOUNTAIN INC IRM 0.13 799966 BBG000KCZPC3 7140
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 797280 BBG0113JGQF0 1033
ANALOG DEVICES INC ADI 0.13 807617 BBG000BB6G37 2235
SHOPIFY INC - CLASS A SHOP 0.12 748383 BBG004DW5NB8 5763
EXTRA SPACE STORAGE INC EXR 0.11 688834 BBG000PV27K3 5017
ASML HOLDING NV-NY REG SHS ASML 0.11 660464 BBG000K6MRN4 415
WESTERN DIGITAL CORP WDC 0.11 666551 BBG000BWNFZ9 1618
INTUITIVE SURGICAL INC ISRG 0.10 612131 BBG000BJPDZ1 1623
VERTEX PHARMACEUTICALS INC VRTX 0.10 601602 BBG000C1S2X2 1169
BOOKING HOLDINGS INC BKNG 0.10 621720 BBG000BLBVN4 3629
VICI PROPERTIES INC REIT VICI 0.10 634277 BBG00HVVB499 25617
FORTINET INC FTNT 0.09 567097 BBG000BCMBG4 3290
ARM HOLDINGS PLC ARM 0.08 471085 BBG01J1GXZF0 1948
ADOBE SYSTEMS INC ADBE 0.08 472216 BBG000BB5006 1832
STARBUCKS CORP SBUX 0.08 512550 BBG000CTQBF3 5307
APPLOVIN CORP APP 0.08 477965 BBG006HFPX77 1442
ROPER TECHNOLOGIES INC ROP 0.08 510256 BBG000F1ZSN5 1329
ESSEX PROPERTY TRUST INC ESS 0.07 419044 BBG000CGJMB9 1518
COMCAST CORP-CLASS A CMCSA 0.07 404639 BBG000BFT2L4 16570
CONSTELLATION ENERGY CORPORATION CEG 0.07 430118 BBG014KFRNP7 1655
Marriott International, Inc Class A MAR 0.07 420876 BBG000BGD7W6 1248
MONSTER BEVERAGE CORP MNST 0.07 409257 BBG008NVB1C0 9170
MERCADOLIBRE INC MELI 0.07 433459 BBG000GQPB11 237
INTUIT INC INTU 0.07 415868 BBG000BH5DV1 1263
CSX CORP CSX 0.07 422126 BBG000BGJRC8 8675
HOST HOTELS & RESORTS INC HST 0.06 360232 BBG000BL8804 16278
AIR PRODUCTS & CHEMICALS INC APD 0.06 348381 BBG000BC4JJ4 1199
MID-AMERICA APARTMENT COMM MAA 0.06 341850 BBG000BLMY92 2746
ROSS STORES INC ROST 0.06 337354 BBG000BSBZH7 1491
KIMCO REALTY CORP KIM 0.06 357678 BBG000CN3S73 15558
REGENERON PHARMACEUTICALS REGN 0.06 366928 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 375703 BBG005D7QCJ3 1895
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 340372 BBG000B9ZXB4 3336
AIRBNB INC ABNB 0.06 334788 BBG001Y2XS07 1989
INVITATION HOMES INC REIT USD.01 INVH 0.06 388231 BBG00FQH6BS9 14046
MCDONALDS CORP MCD 0.06 351364 BBG000BNSZP1 1390
CINTAS CORP CTAS 0.06 370644 BBG000H3YXF8 1863
CONSOLIDATED EDISON INC ED 0.06 362447 BBG000BHLYS1 3444
Datadog Inc. Class A DDOG 0.06 355076 BBG003NJHZT9 1542
W. P. CAREY REIT INC WPC 0.06 358270 BBG000BCQM58 5244
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 367756 BBG000D4LWF6 5922
Sun Communities Inc SUI 0.06 339208 BBG000BLJWF3 2896
CADENCE DESIGN SYS INC CDNS 0.05 332040 BBG000C13CD9 1212
Warner Bros Discovery Inc WBD 0.05 325512 BBG011386VF4 11613
HEALTHPEAK PROPERTIES INC DOC 0.05 331753 BBG000BKYDP9 16456
SYNOPSYS INC SNPS 0.05 323576 BBG000BSFRF3 880
OREILLY AUTOMOTIVE INC ORLY 0.05 322927 BBG000BGYWY6 3792
LUMENTUM HOLDINGS INC LITE 0.05 290280 BBG0073F9RT7 346
AMERICAN ELECTRIC POWER AEP 0.05 304178 BBG000BB9KF2 2522
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 303126 BBG022XF4SZ9 1490
PACCAR INC PCAR 0.05 300272 BBG000BQVTF5 2452
FASTENAL CO FAST 0.04 262911 BBG000BJ8YN7 5321
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 247914 BBG000C30L48 217
Baker Hughes Company BKR 0.04 250702 BBG00GBVBK51 4420
TERADYNE INC TER 0.04 244312 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.04 261792 BBG000BND699 1161
Nebius Group NV NBIS 0.04 214628 BBG001NVJ6W4 1035
DIAMONDBACK ENERGY INC FANG 0.04 271810 BBG002PHSYX9 1285
AUTODESK INC ADSK 0.04 220838 BBG000BM7HL0 975
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 243844 BBG00LBLDDR2 3123
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 213540 BBG00B6BFWH9 2073
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 234573 BBG020QYV152 1480
PAYPAL HOLDINGS INC PYPL 0.04 219706 BBG0077VNXV6 4083
AXON ENTERPRISE INC AXON 0.03 172411 BBG000BHJWG1 390
ASTERA LABS INC ALAB 0.03 189910 BBG00TDKHW99 752
Old Dominion Freight Line Inc. ODFL 0.03 172455 BBG000CHSS88 953
EXELON CORP EXC 0.03 200089 BBG000J6XT05 4742
IDEXX LABS IDXX 0.03 184884 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 193686 BBG000BS1YV5 914
KEURIG DR PEPPER INC KDP 0.03 199647 BBG000TJM7F0 6340
FERROVIAL SA FER 0.03 180450 BBG01H0DF657 3326.88
WORKDAY INC-CLASS A WDAY 0.03 181518 BBG000VC0T95 952
COREWEAVE INC CRWV 0.03 167181 BBG011ZTRJ21 2066
DEXCOM INC DXCM 0.03 154313 BBG000QTF8K1 1785
MICROSTRATEGY INC-CL A MSTR 0.03 192197 BBG000GQJPZ0 1483
ROCKET LAB CORP RKLB 0.03 170759 BBG01V7JN3F3 2687
THOMSON REUTERS CORP TRI 0.03 180594 N/A 1760
PAYCHEX INC PAYX 0.03 194958 BBG000BQSQ38 1648
XCEL ENERGY INC XEL 0.03 210946 BBG000BCTQ65 2910
MICROCHIP TECHNOLOGY INC MCHP 0.03 179297 BBG000BHCP19 2508
KRAFT HEINZ CO/THE KHC 0.02 134976 BBG005CPNTQ2 5458
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 145345 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 135060 BBG01BFR8YV1 2108
COPART INC CPRT 0.02 131082 BBG000BM9RH1 4223
EURO EUR 0.00 -2325.88 N/A -2015.33
Cash & Other Cash&Other -0.16 -977120 N/A -977120

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.