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 09/09/2026
TICKER RAA
NET ASSETS $617M
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 $30.46
30 DAY MEDIAN BID-ASK SPREAD 0.000983

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 09/09/2026

NET ASSET VALUE

$30.46

CLOSING PRICE

$30.45

PREMIUM/DISCOUNT

0.02%
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 25
Discount 13 16 8 14 15

Asset Allocation

As of 9/9/2026

Equities

45.66%
Nasdaq
16.93%
US Large Cap
14.90%
Dividend Payers
5.85%
US Small Cap
3.93%
Emerging Ex. China
2.06%
Japan
1.01%
Europe
0.98%

Fixed Income

25.05%
Corporate Bonds
6.92%
High Yield
5.93%
TIPS
3.98%
Emerging Mkt Bonds
3.96%
Long Term Treasuries
2.97%
T-Bills
1.29%

Alternatives

29.29%
Commodities
7.34%
Energy
5.13%
Managed Futures
4.97%
Miners
4.03%
Gold
3.95%
Real Estate
2.88%
Bitcoin
0.99%

Holdings

As of 09/09/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.90 91883000 BBG00RYR67P4 1884780
INVESCO OPTIMUM YIELD DIVERS PDBC 7.34 45245300 N/A 2308430
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.92 42655800 BBG000PWYVH7 531139
SCHWAB HIGH YIELD BOND ETF SCYB 5.93 36561100 BBG01F80WX71 1415450
SCHWAB U.S. TIPS ETF SCHP 3.98 24523400 BBG000BGN6P5 950152
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 24450800 BBG000NXKWH0 259645
SPROTT PHYSICAL GOLD TRUS PHYS 3.95 24349500 BBG000Q83F79 732096
VANGUARD SMALL-CAP ETF VB 3.93 24218900 BBG000HT3Z79 82352
iM DBi Managed Futures Strategy ETF DBMF 3.58 22075600 N/A 704614
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.97 18319900 BBG00PZFJPC3 614763
ISHARES MSCI EMR MRK EX CHNA EMXC 2.06 12729100 BBG00H5VLMJ6 125274
NVIDIA CORP NVDA 1.45 8923840 BBG000BBJQV0 39942
Simplify DBi CTA Managed Futures Index ETF SDMF 1.39 8593180 BBG020BR8WR7 329450
APPLE INC AAPL 1.28 7879080 BBG000B9XRY4 24986
Franklin FTSE Japan ETF FLJP 1.01 6213470 BBG00J3MDY16 150666
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.00 6154850 BBG01922X0X9 123319
MICROSOFT CORP MSFT 0.99 6132840 BBG000BPH459 12474
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.99 6108040 N/A 176584
Franklin FTSE Europe ETF FLEE 0.98 6059700 BBG00J3PR1S7 154472
MICRON TECHNOLOGY INC MU 0.85 5263210 BBG000C5Z1S3 5121
BHP GROUP LTD BHP 0.85 5237590 BBG000BD5NZ4 56776
AMAZON.COM INC AMZN 0.75 4620430 BBG000BVPV84 18306
CHEVRON CORP CVX 0.70 4313830 BBG000K4ND22 20176
ADVANCED MICRO DEVICES INC AMD 0.63 3885810 BBG000BBQCY0 7457
MARATHON PETROLEUM CORP MPC 0.54 3318950 BBG001DCCGR8 8309
ALPHABET INC-CL A GOOGL 0.53 3291620 BBG009S39JX6 9955
META PLATFORMS INC META 0.53 3272370 BBG000MM2P62 5006
CANADIAN NATURAL RESOURCES CNQ 0.52 3180620 BBG000HW5GX3 61940
Suncor Energy Inc. SU 0.52 3212670 BBG000BC1LY5 46547
OCCIDENTAL PETROLEUM CORP OXY 0.51 3141370 BBG000BQQ2S6 51481
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.51 3168650 BBG023CY9MM1 19294
EQT CORP EQT 0.50 3097470 BBG000BHZ5J9 56699
ALPHABET INC-CL C GOOG 0.50 3063460 BBG009S3NB30 9329
WILLIAMS COMPANIES INC. WMB 0.50 3086790 BBG000BWVCP8 41075
Cheniere Energy Inc LNG 0.48 2947760 BBG000C3HSR0 10683
SCHLUMBERGER LTD SLB 0.48 2985480 BBG000BT41Q8 52331
Tesla Inc. TSLA 0.47 2921880 BBG000N9MNX3 7944
NEWMONT GOLDCORP CORPORATION COM NEM 0.47 2900220 BBG000BPWXK1 22533
Broadcom Inc. AVGO 0.47 2877140 BBG00KHY5S69 7896
REALTY INCOME CORP O 0.42 2586950 BBG000DHPN63 43037
WELLTOWER INC WELL 0.41 2548900 BBG000BKY1G5 10805
INTEL CORP INTC 0.40 2454140 BBG000C0G1D1 23100
RIO TINTO PLC-SPON ADR RIO 0.40 2485400 BBG000FD28T3 23958
WAL-MART STORES INC WMT 0.38 2354080 BBG000BWXBC2 22244
FREEPORT-MCMORAN INC FCX 0.38 2355350 BBG000BJDB15 30898
AUTOMATIC DATA PROCESSING ADP 0.36 2198140 BBG000JG0547 8288
AGNICO EAGLE MINES LTD AEM 0.35 2148860 BBG000DLVDK3 10608
PROLOGIS INC PLD 0.33 2037610 BBG000B9Z0J8 15020
CISCO SYSTEMS INC CSCO 0.32 1975650 BBG000C3J3C9 18054
PEPSICO INC PEP 0.31 1893840 BBG000DH7JK6 13855
GLENCORE PLC -UNSP ADR GLNCY 0.30 1833210 BBG001VKX1Z1 107836
MEDTRONIC PLC MDT 0.30 1865730 BBG000BNWG87 20304
FRANKLIN RESOURCES INC BEN 0.30 1842510 BBG000BD0TF8 54001
COSTCO WHOLESALE CORP COST 0.30 1851230 BBG000F6H8W8 2051
LAM RESH CORP LRCX 0.30 1822080 BBG000BNFLM9 5769
GENUINE PARTS CO GPC 0.29 1790980 BBG000BKL348 13243
AO Smith Corp AOS 0.29 1788620 BBG000BC1L02 30929
HORMEL FOODS CORP HRL 0.29 1786270 BBG000BLF8D2 85182
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1798200 BBG000N7QR55 10607
STANLEY BLACK & DECKER INC SWK 0.29 1760160 BBG000BTQR96 19199
T ROWE PRICE GROUP INC TROW 0.29 1795160 BBG000BVMPN3 16662
KENVUE INC KVUE 0.28 1731480 BBG01C79X561 97548
APPLIED MATERIALS INC AMAT 0.28 1733810 BBG000BBPFB9 3698
EQUINIX INC EQIX 0.28 1746080 BBG000MBDGM6 1674
AMCOR PLC COMMON STOCK USD.01 AMCR 0.28 1726190 N/A 40023
ILLINOIS TOOL WORKS ITW 0.28 1741810 BBG000BMBL90 6598
Kimberly-Clark Corp KMB 0.27 1684220 BBG000BMW2Z0 17064
CLOROX COMPANY CLX 0.27 1687810 BBG000BFS7D3 18833
ABBVIE INC ABBV 0.27 1643460 BBG0025Y4RY4 6550
Barrick Mining Corp. B 0.27 1657680 N/A 37176
EVERSOURCE ENERGY ES 0.26 1597160 BBG000BQ87N0 22674
International Business Machines Corporation IBM 0.25 1522900 BBG000BLNNH6 6347
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.24 1483580 BBG000PVRDL2 9464
PPG INDUSTRIES INC PPG 0.24 1502600 BBG000BRJ809 14022
NETFLIX INC NFLX 0.24 1479700 BBG000CL9VN6 19462
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1376790 N/A 47905
NUCOR CORP NUE 0.21 1269180 BBG000BQ8KV2 4921
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.21 1311740 BBG00CMNZNK7 1311740
SPACE EXPLORATION TECH CORP A SPCX 0.21 1296960 BBG000NQF3Z5 8790
PALO ALTO NETWORKS INC PANW 0.20 1239200 BBG0014GJCT9 3698
DIGITAL REALTY TRUST INC DLR 0.20 1226750 BBG000Q5ZRM7 6488
ERIE INDEMNITY COMPANY-CL A ERIE 0.19 1173070 BBG000BBTJZ1 4811
SIMON PROPERTY GROUP INC SPG 0.19 1188520 BBG000BJ2D31 5811
Vivmark Residential VMRK 0.19 1174440 BBG000BG8M31 18073.9
SANDISK CORP/DE SNDKV SNDK 0.19 1192580 BBG01R388JG1 676
TEXAS INSTRUMENTS INC TXN 0.18 1088480 BBG000BVV7G1 4161
FRANCO-NEVADA CORP FNV 0.18 1114830 BBG000TRN6Z1 4206
KLA CORPORATION KLAC 0.18 1106790 BBG000BMTFR4 6051
PUBLIC STORAGE PSA 0.17 1077650 BBG000BPPN67 3658
Ventas Inc. VTR 0.17 1034750 BBG000FRVHB9 11577
AMGEN INC AMGN 0.16 982479 BBG000BBS2Y0 2511
LINDE PLC LIN 0.16 996298 BBG01FND0CC1 2135
VALE SA-SP ADR VALE 0.16 1006770 BBG000BN5LG7 65205
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 972236 BBG00ZXBJ153 4137
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 934646 BBG0113JGQF0 1055
Crowdstrike Holdings Inc. Class A CRWD 0.15 938009 BBG00BLYKS03 4514
QUALCOMM INC QCOM 0.14 834548 BBG000CGC1X8 4731
T-MOBILE US INC TMUS 0.14 890247 BBG000NDV1D4 5020
WESTERN DIGITAL CORP WDC 0.13 787081 BBG000BWNFZ9 1632
IRON MOUNTAIN INC IRM 0.13 824514 BBG000KCZPC3 7156
ANALOG DEVICES INC ADI 0.13 817392 BBG000BB6G37 2239
GILEAD SCIENCES INC GILD 0.13 828312 BBG000CKGBP2 5687
ASML HOLDING NV-NY REG SHS ASML 0.12 735046 BBG000K6MRN4 425
SHOPIFY INC - CLASS A SHOP 0.12 742609 BBG004DW5NB8 5857
EXTRA SPACE STORAGE INC EXR 0.11 682083 BBG000PV27K3 5029
VICI PROPERTIES INC REIT VICI 0.10 647368 BBG00HVVB499 25679
VERTEX PHARMACEUTICALS INC VRTX 0.10 610232 BBG000C1S2X2 1171
BOOKING HOLDINGS INC BKNG 0.10 635968 BBG000BLBVN4 3667
INTUITIVE SURGICAL INC ISRG 0.09 574722 BBG000BJPDZ1 1627
STARBUCKS CORP SBUX 0.09 532113 BBG000CTQBF3 5319
ROPER TECHNOLOGIES INC ROP 0.08 519556 BBG000F1ZSN5 1331
ARM HOLDINGS PLC ARM 0.08 515777 BBG01J1GXZF0 1952
CONSTELLATION ENERGY CORPORATION CEG 0.08 487588 BBG014KFRNP7 1659
FORTINET INC FTNT 0.08 518512 BBG000BCMBG4 3298
ADOBE SYSTEMS INC ADBE 0.08 475569 BBG000BB5006 1866
Cash & Other Cash&Other 0.07 439139 N/A 439139
ESSEX PROPERTY TRUST INC ESS 0.07 417042 BBG000CGJMB9 1520
COMCAST CORP-CLASS A CMCSA 0.07 408440 BBG000BFT2L4 16610
Marriott International, Inc Class A MAR 0.07 414400 BBG000BGD7W6 1250
MERCADOLIBRE INC MELI 0.07 444690 BBG000GQPB11 237
APPLOVIN CORP APP 0.07 440507 BBG006HFPX77 1444
CSX CORP CSX 0.07 420577 BBG000BGJRC8 8695
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 370525 BBG000D4LWF6 5936
CADENCE DESIGN SYS INC CDNS 0.06 362580 BBG000C13CD9 1274
HOST HOTELS & RESORTS INC HST 0.06 359649 BBG000BL8804 16318
AIR PRODUCTS & CHEMICALS INC APD 0.06 354583 BBG000BC4JJ4 1201
MID-AMERICA APARTMENT COMM MAA 0.06 350825 BBG000BLMY92 2752
KIMCO REALTY CORP KIM 0.06 367598 BBG000CN3S73 15596
CONSOLIDATED EDISON INC ED 0.06 371055 BBG000BHLYS1 3452
SYNOPSYS INC SNPS 0.06 346820 BBG000BSFRF3 882
Datadog Inc. Class A DDOG 0.06 347817 BBG003NJHZT9 1544
W. P. CAREY REIT INC WPC 0.06 367657 BBG000BCQM58 5256
LUMENTUM HOLDINGS INC LITE 0.06 352077 BBG0073F9RT7 356
REGENERON PHARMACEUTICALS REGN 0.06 382826 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 380486 BBG005D7QCJ3 1929
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 351889 BBG000B9ZXB4 3344
MONSTER BEVERAGE CORP MNST 0.06 393785 BBG008NVB1C0 9192
INTUIT INC INTU 0.06 397134 BBG000BH5DV1 1265
INVITATION HOMES INC REIT USD.01 INVH 0.06 396774 BBG00FQH6BS9 14080
MCDONALDS CORP MCD 0.06 352844 BBG000BNSZP1 1392
CINTAS CORP CTAS 0.06 373475 BBG000H3YXF8 1867
PACCAR INC PCAR 0.05 299581 BBG000BQVTF5 2458
Sun Communities Inc SUI 0.05 336748 BBG000BLJWF3 2902
Warner Bros Discovery Inc WBD 0.05 324900 BBG011386VF4 11641
Baker Hughes Company BKR 0.05 288289 BBG00GBVBK51 4530
TERADYNE INC TER 0.05 281628 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.05 336353 BBG000BKYDP9 16496
ROSS STORES INC ROST 0.05 336328 BBG000BSBZH7 1493
OREILLY AUTOMOTIVE INC ORLY 0.05 327104 BBG000BGYWY6 3800
AMERICAN ELECTRIC POWER AEP 0.05 315166 BBG000BB9KF2 2528
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 305756 BBG022XF4SZ9 1492
AIRBNB INC ABNB 0.05 338073 BBG001Y2XS07 1993
XCEL ENERGY INC XEL 0.04 222170 BBG000BCTQ65 2916
FASTENAL CO FAST 0.04 260197 BBG000BJ8YN7 5333
ASTERA LABS INC ALAB 0.04 235022 BBG00TDKHW99 782
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 273251 BBG000C30L48 227
NXP Semiconductors NV NXPI 0.04 259721 BBG000BND699 1163
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 245971 BBG00LBLDDR2 3129
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 224642 BBG020QYV152 1482
Nebius Group NV NBIS 0.04 249243 BBG001NVJ6W4 1037
DIAMONDBACK ENERGY INC FANG 0.04 260785 BBG002PHSYX9 1287
PAYCHEX INC PAYX 0.03 189567 BBG000BQSQ38 1652
MICROCHIP TECHNOLOGY INC MCHP 0.03 183547 BBG000BHCP19 2514
PAYPAL HOLDINGS INC PYPL 0.03 213532 BBG0077VNXV6 4093
AXON ENTERPRISE INC AXON 0.03 191100 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 173772 BBG000CHSS88 955
EXELON CORP EXC 0.03 207662 BBG000J6XT05 4752
IDEXX LABS IDXX 0.03 186484 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 193404 BBG000BS1YV5 916
KEURIG DR PEPPER INC KDP 0.03 203836 BBG000TJM7F0 6354
FERROVIAL SA FER 0.03 188621 BBG01H0DF657 3334.88
AUTODESK INC ADSK 0.03 201868 BBG000BM7HL0 977
MICROSTRATEGY INC-CL A MSTR 0.03 197060 BBG000GQJPZ0 1485
ROCKET LAB CORP RKLB 0.03 169848 BBG01V7JN3F3 2693
THOMSON REUTERS CORP TRI 0.03 171073 N/A 1764
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 215634 BBG00B6BFWH9 2077
WORKDAY INC-CLASS A WDAY 0.03 177492 BBG000VC0T95 954
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 157380 BBG000BFGNJ5 610
COREWEAVE INC CRWV 0.03 196526 BBG011ZTRJ21 2070
KRAFT HEINZ CO/THE KHC 0.02 134617 BBG005CPNTQ2 5470
DEXCOM INC DXCM 0.02 150061 BBG000QTF8K1 1789
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 137639 BBG01BFR8YV1 2112
COPART INC CPRT 0.02 135583 BBG000BM9RH1 4233

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.