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 10/20/2026
TICKER RAA
NET ASSETS $613M
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 $30.15
30 DAY MEDIAN BID-ASK SPREAD 0.000665

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 10/20/2026

NET ASSET VALUE

$30.15

CLOSING PRICE

$30.15

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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 3
Discount 16 8 14 21 8

Asset Allocation

As of 10/20/2026

Equities

41.19%
Nasdaq
17.26%
US Large Cap
15.02%
US Small Cap
3.00%
Dividend Payers
2.07%
Emerging Ex. China
1.87%
Europe
1.00%
Japan
0.97%

Fixed Income

29.17%
Long Term Treasuries
8.17%
Corporate Bonds
6.01%
High Yield
5.95%
Emerging Mkt Bonds
4.00%
TIPS
3.02%
T-Bills
2.02%

Alternatives

29.64%
Commodities
10.29%
Energy
5.49%
Managed Futures
5.02%
Miners
3.87%
Real Estate
2.03%
Gold
1.97%
Bitcoin
0.97%

Holdings

As of 10/20/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.02 92071500 BBG00RYR67P4 1874040
INVESCO OPTIMUM YIELD DIVERS PDBC 10.29 63051200 N/A 3149410
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.17 50077900 BBG00PZFJPC3 1715580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.01 36853500 BBG000PWYVH7 467625
SCHWAB HIGH YIELD BOND ETF SCYB 5.95 36439000 BBG01F80WX71 1453490
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.00 24490200 BBG000NXKWH0 268474
iM DBi Managed Futures Strategy ETF DBMF 3.53 21607600 N/A 657965
SCHWAB U.S. TIPS ETF SCHP 3.02 18481300 BBG000BGN6P5 726467
Vanguard Morningstar Small-Cap ETF VB 3.00 18380700 BBG000HT3Z79 63813
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 12193500 BBG01922X0X9 244114
SPROTT PHYSICAL GOLD TRUS PHYS 1.97 12096700 BBG000Q83F79 388713
ISHARES MSCI EMR MRK EX CHNA EMXC 1.87 11450400 BBG00H5VLMJ6 122779
Simplify DBi CTA Managed Futures Index ETF SDMF 1.49 9146370 BBG020BR8WR7 334053
NVIDIA CORP NVDA 1.40 8574160 BBG000BBJQV0 39609
APPLE INC AAPL 1.31 8054300 BBG000B9XRY4 23724
MICROSOFT CORP MSFT 1.05 6459560 BBG000BPH459 12145
Franklin FTSE Europe ETF FLEE 1.00 6106240 BBG00J3PR1S7 160627
Franklin FTSE Japan ETF FLJP 0.97 5933530 BBG00J3MDY16 146074
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.97 5964770 N/A 163508
BHP GROUP LTD BHP 0.81 4985640 BBG000BD5NZ4 60897
AMAZON.COM INC AMZN 0.76 4639620 BBG000BVPV84 17666
MICRON TECHNOLOGY INC MU 0.76 4629100 BBG000C5Z1S3 5166
ADVANCED MICRO DEVICES INC AMD 0.65 3979000 BBG000BBQCY0 7441
CHEVRON CORP CVX 0.61 3761460 BBG000K4ND22 16665
MARATHON PETROLEUM CORP MPC 0.59 3625510 BBG001DCCGR8 7632
OCCIDENTAL PETROLEUM CORP OXY 0.57 3472110 BBG000BQQ2S6 55183
Suncor Energy Inc. SU 0.57 3477640 BBG000BC1LY5 44335
CANADIAN NATURAL RESOURCES CNQ 0.56 3452080 BBG000HW5GX3 63715
EQT CORP EQT 0.56 3404160 BBG000BHZ5J9 62097
META PLATFORMS INC META 0.56 3460140 BBG000MM2P62 4984
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.54 3311750 BBG023CY9MM1 18620
Tesla Inc. TSLA 0.53 3246790 BBG000N9MNX3 8688
Cheniere Energy Inc LNG 0.53 3222540 BBG000C3HSR0 11373
ALPHABET INC-CL A GOOGL 0.53 3228870 BBG009S39JX6 9489
WILLIAMS COMPANIES INC. WMB 0.52 3160980 BBG000BWVCP8 44945
SCHLUMBERGER LTD SLB 0.51 3095760 BBG000BT41Q8 61940
ALPHABET INC-CL C GOOG 0.49 3006070 BBG009S3NB30 8936
NEWMONT GOLDCORP CORPORATION COM NEM 0.48 2939170 BBG000BPWXK1 25162
SPACE EXPLORATION TECH CORP A SPCX 0.47 2892250 BBG000NQF3Z5 19570
WAL-MART STORES INC WMT 0.44 2716440 BBG000BWXBC2 23050
Broadcom Inc. AVGO 0.44 2724450 BBG00KHY5S69 8148
FREEPORT-MCMORAN INC FCX 0.37 2293580 BBG000BJDB15 33303
RIO TINTO PLC-SPON ADR RIO 0.36 2196950 BBG000FD28T3 24920
AGNICO EAGLE MINES LTD AEM 0.36 2211900 BBG000DLVDK3 11876
INTEL CORP INTC 0.35 2131240 BBG000C0G1D1 23244
COSTCO WHOLESALE CORP COST 0.34 2105590 BBG000F6H8W8 2117
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 2001880 BBG000N7QR55 10394
CISCO SYSTEMS INC CSCO 0.31 1907010 BBG000C3J3C9 17871
WELLTOWER INC WELL 0.28 1739890 BBG000BKY1G5 7308
GLENCORE PLC -UNSP ADR GLNCY 0.26 1588070 BBG001VKX1Z1 107812
Barrick Mining Corp. B 0.26 1571390 N/A 38867
LAM RESH CORP LRCX 0.25 1506670 BBG000BNFLM9 5719
APPLIED MATERIALS INC AMAT 0.24 1488300 BBG000BBPFB9 3675
NUCOR CORP NUE 0.22 1338620 BBG000BQ8KV2 5119
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.22 1365710 BBG000PVRDL2 10407
NETFLIX INC NFLX 0.22 1318440 BBG000CL9VN6 19194
PROLOGIS INC PLD 0.22 1323390 BBG000B9Z0J8 10382
REALTY INCOME CORP O 0.21 1258070 BBG000DHPN63 22330
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1305890 N/A 49862
TEXAS INSTRUMENTS INC TXN 0.20 1201680 BBG000BVV7G1 4326
PEPSICO INC PEP 0.20 1221190 BBG000DH7JK6 9112
PALO ALTO NETWORKS INC PANW 0.20 1227730 BBG0014GJCT9 3608
AUTOMATIC DATA PROCESSING ADP 0.20 1212860 BBG000JG0547 4143
EQUINIX INC EQIX 0.18 1127660 BBG000MBDGM6 1142
AMGEN INC AMGN 0.18 1132470 BBG000BBS2Y0 2580
LINDE PLC LIN 0.18 1104660 BBG01FND0CC1 2201
FRANCO-NEVADA CORP FNV 0.17 1053940 BBG000TRN6Z1 4371
KLA CORPORATION KLAC 0.17 1016050 BBG000BMTFR4 6282
Crowdstrike Holdings Inc. Class A CRWD 0.17 1047950 BBG00BLYKS03 4609
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 960959 BBG00ZXBJ153 3997
VALE SA-SP ADR VALE 0.15 948051 BBG000BN5LG7 72815
GILEAD SCIENCES INC GILD 0.15 926226 BBG000CKGBP2 5918
SHOPIFY INC - CLASS A SHOP 0.15 945466 BBG004DW5NB8 5450
ANALOG DEVICES INC ADI 0.15 915200 BBG000BB6G37 2305
QUALCOMM INC QCOM 0.14 853248 BBG000CGC1X8 4856
SANDISK CORP/DE SNDKV SNDK 0.14 882036 BBG01R388JG1 646
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 878370 BBG00CMNZNK7 878370
SIMON PROPERTY GROUP INC SPG 0.14 852178 BBG000BJ2D31 4117
PUBLIC STORAGE PSA 0.13 788499 BBG000BPPN67 2613
DIGITAL REALTY TRUST INC DLR 0.13 802920 BBG000Q5ZRM7 4580
T-MOBILE US INC TMUS 0.13 823140 BBG000NDV1D4 5218
INTUITIVE SURGICAL INC ISRG 0.12 741534 BBG000BJPDZ1 1693
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 721039 BBG0113JGQF0 1068
Vivmark Residential VMRK 0.12 735006 BBG000BG8M31 11876
Ventas Inc. VTR 0.12 737414 BBG000FRVHB9 8526
KENVUE INC KVUE 0.11 657834 BBG01C79X561 34120
Kimberly-Clark Corp KMB 0.11 669154 BBG000BMW2Z0 6177
MEDTRONIC PLC MDT 0.11 661369 BBG000BNWG87 6989
CLOROX COMPANY CLX 0.11 656400 BBG000BFS7D3 7506
ABBVIE INC ABBV 0.11 677604 BBG0025Y4RY4 2344
ASML HOLDING NV-NY REG SHS ASML 0.11 676799 BBG000K6MRN4 415
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 646393 N/A 14451
AO Smith Corp AOS 0.10 629874 BBG000BC1L02 10579
WESTERN DIGITAL CORP WDC 0.10 614972 BBG000BWNFZ9 1688
HORMEL FOODS CORP HRL 0.10 631339 BBG000BLF8D2 30782
FRANKLIN RESOURCES INC BEN 0.10 591779 BBG000BD0TF8 18943
International Business Machines Corporation IBM 0.10 633105 BBG000BLNNH6 2617
VERTEX PHARMACEUTICALS INC VRTX 0.10 619639 BBG000C1S2X2 1204
T ROWE PRICE GROUP INC TROW 0.10 596133 BBG000BVMPN3 5837
FORTINET INC FTNT 0.10 586290 BBG000BCMBG4 3430
STANLEY BLACK & DECKER INC SWK 0.10 637742 BBG000BTQR96 6778
GENUINE PARTS CO GPC 0.09 567821 BBG000BKL348 4597
IRON MOUNTAIN INC IRM 0.09 560099 BBG000KCZPC3 4954
PPG INDUSTRIES INC PPG 0.09 521762 BBG000BRJ809 4804
ILLINOIS TOOL WORKS ITW 0.09 543341 BBG000BMBL90 1976
BOOKING HOLDINGS INC BKNG 0.09 563721 BBG000BLBVN4 3439
STARBUCKS CORP SBUX 0.09 548224 BBG000CTQBF3 5517
Marriott International, Inc Class A MAR 0.08 509749 BBG000BGD7W6 1283
EVERSOURCE ENERGY ES 0.08 519332 BBG000BQ87N0 7936
EXTRA SPACE STORAGE INC EXR 0.08 488315 BBG000PV27K3 3462
ADOBE SYSTEMS INC ADBE 0.08 488300 BBG000BB5006 1902
CADENCE DESIGN SYS INC CDNS 0.07 398878 BBG000C13CD9 1247
ARM HOLDINGS PLC ARM 0.07 446099 BBG01J1GXZF0 2018
CONSTELLATION ENERGY CORPORATION CEG 0.07 446499 BBG014KFRNP7 1725
MONSTER BEVERAGE CORP MNST 0.07 449467 BBG008NVB1C0 9555
MERCADOLIBRE INC MELI 0.07 445442 BBG000GQPB11 237
INTUIT INC INTU 0.07 435206 BBG000BH5DV1 1298
APPLOVIN CORP APP 0.07 402423 BBG006HFPX77 1477
VICI PROPERTIES INC REIT VICI 0.07 419281 BBG00HVVB499 17941
CSX CORP CSX 0.07 434162 BBG000BGJRC8 9030
CINTAS CORP CTAS 0.07 419519 BBG000H3YXF8 1933
SYNOPSYS INC SNPS 0.07 409572 BBG000BSFRF3 915
Datadog Inc. Class A DDOG 0.07 404390 BBG003NJHZT9 1577
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 392758 BBG000BBTJZ1 1597
COMCAST CORP-CLASS A CMCSA 0.06 386269 BBG000BFT2L4 17275
ROSS STORES INC ROST 0.06 362028 BBG000BSBZH7 1526
AIRBNB INC ABNB 0.06 364319 BBG001Y2XS07 2059
REGENERON PHARMACEUTICALS REGN 0.06 382746 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 376632 BBG005D7QCJ3 1965
OREILLY AUTOMOTIVE INC ORLY 0.06 353959 BBG000BGYWY6 3932
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 394626 BBG000D4LWF6 6167
LUMENTUM HOLDINGS INC LITE 0.06 347099 BBG0073F9RT7 422
PACCAR INC PCAR 0.05 281449 BBG000BQVTF5 2557
FASTENAL CO FAST 0.05 285676 BBG000BJ8YN7 5531
HOST HOTELS & RESORTS INC HST 0.05 284878 BBG000BL8804 11487
ESSEX PROPERTY TRUST INC ESS 0.05 287316 BBG000CGJMB9 1056
NXP Semiconductors NV NXPI 0.05 284170 BBG000BND699 1196
AMERICAN ELECTRIC POWER AEP 0.05 334207 BBG000BB9KF2 2627
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 325313 BBG022XF4SZ9 1525
XCEL ENERGY INC XEL 0.04 231190 BBG000BCTQ65 3015
PAYPAL HOLDINGS INC PYPL 0.04 243302 BBG0077VNXV6 4258
Omega Healthcare Investors Inc OHI 0.04 226839 BBG000BGBTC2 4980
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 270977 BBG000C30L48 217
Baker Hughes Company BKR 0.04 255712 BBG00GBVBK51 4595
TERADYNE INC TER 0.04 247057 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.04 216884 BBG000BKYDP9 11561
MID-AMERICA APARTMENT COMM MAA 0.04 223923 BBG000BLMY92 1908
KEURIG DR PEPPER INC KDP 0.04 228212 BBG000TJM7F0 6590
KIMCO REALTY CORP KIM 0.04 251850 BBG000CN3S73 10950
INVITATION HOMES INC REIT USD.01 INVH 0.04 267381 BBG00FQH6BS9 9903
DIAMONDBACK ENERGY INC FANG 0.04 267194 BBG002PHSYX9 1320
AUTODESK INC ADSK 0.04 248036 BBG000BM7HL0 1010
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 263502 BBG00LBLDDR2 3228
MICROSTRATEGY INC-CL A MSTR 0.04 216649 BBG000GQJPZ0 1518
W. P. CAREY REIT INC WPC 0.04 240327 BBG000BCQM58 3744
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 243038 BBG00B6BFWH9 2143
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 242248 BBG020QYV152 1515
MICROCHIP TECHNOLOGY INC MCHP 0.03 198196 BBG000BHCP19 2613
ROPER TECHNOLOGIES INC ROP 0.03 178796 BBG000F1ZSN5 449
ASTERA LABS INC ALAB 0.03 214170 BBG00TDKHW99 752
Old Dominion Freight Line Inc. ODFL 0.03 186070 BBG000CHSS88 988
EXELON CORP EXC 0.03 211794 BBG000J6XT05 4922
IDEXX LABS IDXX 0.03 201971 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 196158 BBG000BS1YV5 949
FERROVIAL SA FER 0.03 170675 BBG01H0DF657 3466.88
WORKDAY INC-CLASS A WDAY 0.03 201328 BBG000VC0T95 987
Nebius Group NV NBIS 0.03 183452 BBG001NVJ6W4 1070
DEXCOM INC DXCM 0.03 159048 BBG000QTF8K1 1855
THOMSON REUTERS CORP TRI 0.03 206461 N/A 1830
PAYCHEX INC PAYX 0.03 193481 BBG000BQSQ38 1718
AXON ENTERPRISE INC AXON 0.02 153130 BBG000BHJWG1 390
AIR PRODUCTS & CHEMICALS INC APD 0.02 130412 BBG000BC4JJ4 431
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 140733 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 152961 BBG01BFR8YV1 2178
COREWEAVE INC CRWV 0.02 132710 BBG011ZTRJ21 2136
COPART INC CPRT 0.02 122396 BBG000BM9RH1 4398
CONSOLIDATED EDISON INC ED 0.02 131576 BBG000BHLYS1 1175
MCDONALDS CORP MCD 0.02 128190 BBG000BNSZP1 520
ROCKET LAB CORP RKLB 0.02 142113 BBG01V7JN3F3 2792
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 136873 BBG000B9ZXB4 1336
Cash & Other Cash&Other -0.13 -805262 N/A -805262

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.