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 06/02/2026
TICKER RAA
NET ASSETS $605M
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 $30.59
30 DAY MEDIAN BID-ASK SPREAD 0.000666

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 6.72% -3.97% 4.53% 0.68% 7.44% 0.68% 17.36% 11.92%
RAA - Market Price 6.81% -3.98% 4.39% 0.63% 7.28% 0.63% 17.22% 11.89%
S&P 500 Index Total Return 10.49% -4.98% 4.19% -4.33% 5.70% -4.33% 19.15% 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 06/02/2026

NET ASSET VALUE

$30.59

CLOSING PRICE

$30.59

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 28
Discount 5 13 16 8 8

Asset Allocation

As of 6/2/2026

Equities

42.15%
Nasdaq
16.71%
US Large Cap
14.97%
Dividend Payers
3.45%
Emerging Ex. China
2.04%
US Small Cap
2.00%
Japan
1.99%
Europe
0.99%

Fixed Income

0.00%
High Yield
5.93%
Emerging Mkt Bonds
3.97%
Corporate Bonds
3.95%
TIPS
2.96%
Long Term Treasuries
0.99%
T-Bills
0.00%

Alternatives

38.53%
Commodities
10.16%
Managed Futures
10.08%
Energy
4.90%
Gold
4.88%
Miners
3.90%
Bitcoin
2.72%
Real Estate
1.89%

Holdings

As of 06/02/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.97 90528100 BBG00RYR67P4 621375
INVESCO OPTIMUM YIELD DIVERS PDBC 10.16 61444300 N/A 3417370
iM DBi Managed Futures Strategy ETF DBMF 9.07 54883300 N/A 1747320
SCHWAB HIGH YIELD BOND ETF SCYB 5.93 35865700 BBG01F80WX71 1371540
SPROTT PHYSICAL GOLD TRUS PHYS 4.88 29526700 BBG000Q83F79 870225
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.97 23998100 BBG000NXKWH0 249305
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.95 23907800 BBG000PWYVH7 290003
SCHWAB U.S. TIPS ETF SCHP 2.96 17907700 BBG000BGN6P5 672465
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.72 16433100 N/A 552931
ISHARES MSCI EMR MRK EX CHNA EMXC 2.04 12359700 BBG00H5VLMJ6 118798
VANGUARD SMALL-CAP ETF VB 2.00 12080600 BBG000HT3Z79 40911
Franklin FTSE Japan ETF FLJP 1.99 12033200 BBG00J3MDY16 301508
NVIDIA CORP NVDA 1.45 8751920 BBG000BBJQV0 39278
APPLE INC AAPL 1.25 7584030 BBG000B9XRY4 24061
Simplify DBi CTA Managed Futures Index ETF SDMF 1.01 6096540 BBG020BR8WR7 233575
Franklin FTSE Europe ETF FLEE 0.99 5973070 BBG00J3PR1S7 152940
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 0.99 5994700 BBG00PZFJPC3 193004
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.99 6013220 BBG01922X0X9 120578
MICROSOFT CORP MSFT 0.85 5171270 BBG000BPH459 11718
MICRON TECHNOLOGY INC MU 0.85 5137480 BBG000C5Z1S3 4828
BHP GROUP LTD BHP 0.82 4934060 BBG000BD5NZ4 52969
AMAZON.COM INC AMZN 0.75 4511160 BBG000BVPV84 17586
ADVANCED MICRO DEVICES INC AMD 0.64 3869310 BBG000BBQCY0 7419
CHEVRON CORP CVX 0.60 3639220 BBG000K4ND22 19404
Broadcom Inc. AVGO 0.60 3616590 BBG00KHY5S69 7510
ALPHABET INC-CL A GOOGL 0.58 3491850 BBG009S39JX6 9650
Tesla Inc. TSLA 0.57 3475940 BBG000N9MNX3 8203
ALPHABET INC-CL C GOOG 0.53 3228380 BBG009S3NB30 9008
CANADIAN NATURAL RESOURCES CNQ 0.52 3155370 BBG000HW5GX3 66837
OCCIDENTAL PETROLEUM CORP OXY 0.52 3143590 BBG000BQQ2S6 53200
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.52 3161980 BBG000BRK7L6 48415
Cheniere Energy Inc LNG 0.52 3136570 BBG000C3HSR0 13290
MARATHON PETROLEUM CORP MPC 0.52 3166980 BBG001DCCGR8 12039
SCHLUMBERGER LTD SLB 0.51 3077640 BBG000BT41Q8 54699
EXXON MOBIL CORP XOM 0.51 3091700 BBG000GZQ728 20672
EQT CORP EQT 0.49 2983340 BBG000BHZ5J9 54560
WILLIAMS COMPANIES INC. WMB 0.49 2991810 BBG000BWVCP8 41955
NEWMONT GOLDCORP CORPORATION COM NEM 0.48 2930000 BBG000BPWXK1 26758
META PLATFORMS INC META 0.48 2906870 BBG000MM2P62 4864
RIO TINTO PLC-SPON ADR RIO 0.47 2826030 BBG000FD28T3 25307
WAL-MART STORES INC WMT 0.43 2572790 BBG000BWXBC2 22756
INTEL CORP INTC 0.41 2479580 BBG000C0G1D1 22974
CISCO SYSTEMS INC CSCO 0.37 2246140 BBG000C3J3C9 17548
FREEPORT-MCMORAN INC FCX 0.36 2167950 BBG000BJDB15 30228
AGNICO EAGLE MINES LTD AEM 0.36 2171260 BBG000DLVDK3 12134
GLENCORE PLC -UNSP ADR GLNCY 0.33 1967260 BBG001VKX1Z1 118438
COSTCO WHOLESALE CORP COST 0.33 2004920 BBG000F6H8W8 2101
LAM RESH CORP LRCX 0.31 1873700 BBG000BNFLM9 5603
APPLIED MATERIALS INC AMAT 0.29 1750950 BBG000BBPFB9 3573
Barrick Mining Corp. B 0.27 1651840 N/A 38237
NETFLIX INC NFLX 0.26 1594100 BBG000CL9VN6 19130
REALTY INCOME CORP O 0.25 1523270 BBG000DHPN63 25426
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.24 1446680 BBG000N7QR55 9507
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1375290 BBG000PVRDL2 10554
WELLTOWER INC WELL 0.23 1416680 BBG000BKY1G5 7252
PROLOGIS INC PLD 0.23 1413510 BBG000B9Z0J8 10067
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.23 1412060 N/A 48928
AUTOMATIC DATA PROCESSING ADP 0.22 1354250 BBG000JG0547 5858
NUCOR CORP NUE 0.21 1248620 BBG000BQ8KV2 4831
TEXAS INSTRUMENTS INC TXN 0.21 1281160 BBG000BVV7G1 4158
EQUINIX INC EQIX 0.20 1211130 BBG000MBDGM6 1130
KLA CORPORATION KLAC 0.20 1206670 BBG000BMTFR4 590
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1159090 BBG00ZXBJ153 3986
SANDISK CORP/DE SNDKV SNDK 0.19 1122500 BBG01R388JG1 654
FRANCO-NEVADA CORP FNV 0.18 1118020 BBG000RD3CL8 4739
QUALCOMM INC QCOM 0.18 1112440 BBG000CGC1X8 4619
LINDE PLC LIN 0.17 1041410 BBG01FND0CC1 2100
PALO ALTO NETWORKS INC PANW 0.17 1027650 BBG0014GJCT9 3458
VALE SA-SP ADR VALE 0.17 1050560 BBG000BN5LG7 62459
T-MOBILE US INC TMUS 0.16 948115 BBG000NDV1D4 5021
ANALOG DEVICES INC ADI 0.16 947545 BBG000BB6G37 2239
PEPSICO INC PEP 0.15 886648 BBG000DH7JK6 6244
KENVUE INC KVUE 0.15 894457 BBG01C79X561 51643
Kimberly-Clark Corp KMB 0.15 887452 BBG000BMW2Z0 9103
HORMEL FOODS CORP HRL 0.15 896570 BBG000BLF8D2 38397
MEDTRONIC PLC MDT 0.15 891048 BBG000BNWG87 12082
CLOROX COMPANY CLX 0.15 877567 BBG000BFS7D3 9791
FRANKLIN RESOURCES INC BEN 0.15 898123 BBG000BD0TF8 28860
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 903445 BBG0113JGQF0 975
STANLEY BLACK & DECKER INC SWK 0.15 893016 BBG000BTQR96 11284
ILLINOIS TOOL WORKS ITW 0.15 903340 BBG000BMBL90 3634
International Business Machines Corporation IBM 0.15 889579 BBG000BLNNH6 2702
T ROWE PRICE GROUP INC TROW 0.15 895710 BBG000BVMPN3 8587
AMCOR PLC COMMON STOCK USD.01 AMCR 0.15 887924 N/A 23117
WESTERN DIGITAL CORP WDC 0.14 853096 BBG000BWNFZ9 1515
EVERSOURCE ENERGY ES 0.14 864733 BBG000BQ87N0 12622
APPLOVIN CORP APP 0.14 826685 BBG006HFPX77 1365
SIMON PROPERTY GROUP INC SPG 0.14 833455 BBG000BJ2D31 4095
GENUINE PARTS CO GPC 0.13 773936 BBG000BKL348 7790
AO Smith Corp AOS 0.13 764046 BBG000BC1L02 13461
PPG INDUSTRIES INC PPG 0.13 759342 BBG000BRJ809 6682
AMGEN INC AMGN 0.13 801611 BBG000BBS2Y0 2442
DIGITAL REALTY TRUST INC DLR 0.13 770762 BBG000Q5ZRM7 4116
Crowdstrike Holdings Inc. Class A CRWD 0.13 808166 BBG00BLYKS03 1051
PUBLIC STORAGE PSA 0.12 703278 BBG000BPPN67 2351
GILEAD SCIENCES INC GILD 0.12 718602 BBG000CKGBP2 5633
ABBVIE INC ABBV 0.12 753254 BBG0025Y4RY4 3497
HONEYWELL INTERNATIONAL INC HON 0.11 665936 BBG000H556T9 2831
INTUITIVE SURGICAL INC ISRG 0.11 642071 BBG000BJPDZ1 1596
J M Smucker Co COM STK NPV SJM 0.11 637181 BBG000BT1715 6342
ASML HOLDING NV-NY REG SHS ASML 0.11 668505 BBG000K6MRN4 392
Ventas Inc. VTR 0.10 629902 BBG000FRVHB9 7861
SHOPIFY INC - CLASS A SHOP 0.10 619451 BBG008HBD923 5294
IRON MOUNTAIN INC IRM 0.10 610699 BBG000KCZPC3 4754
BOOKING HOLDINGS INC BKNG 0.10 595435 BBG000BLBVN4 3561
CADENCE DESIGN SYS INC CDNS 0.08 507579 BBG000C13CD9 1219
ERIE INDEMNITY COMPANY-CL A ERIE 0.08 484606 BBG000BBTJZ1 2335
VERTEX PHARMACEUTICALS INC VRTX 0.08 485028 BBG000C1S2X2 1141
STARBUCKS CORP SBUX 0.08 506108 BBG000CTQBF3 5299
VICI PROPERTIES INC REIT VICI 0.08 471595 BBG00HVVB499 17124
EXTRA SPACE STORAGE INC EXR 0.08 472260 BBG000PV27K3 3319
FORTINET INC FTNT 0.08 469653 BBG000BCMBG4 3155
Cash & Other Cash&Other 0.07 415191 N/A 415191
FASTENAL CO FAST 0.07 416436 BBG000BJ8YN7 9310
COMCAST CORP-CLASS A CMCSA 0.07 409230 BBG000BFT2L4 16468
EQUITY RESIDENTIAL EQR 0.07 426922 BBG000BG8M31 6448
ADOBE SYSTEMS INC ADBE 0.07 451353 BBG000BB5006 1722
CONSTELLATION ENERGY CORPORATION CEG 0.07 445237 BBG014KFRNP7 1633
Marriott International, Inc Class A MAR 0.07 451876 BBG000BGD7W6 1209
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.07 411069 BBG00CMNZNK7 411069
CSX CORP CSX 0.07 399803 BBG000BGJRC8 8665
SYNOPSYS INC SNPS 0.07 447348 BBG000BSFRF3 880
AVALONBAY COMMUNITIES INC AVB 0.07 422508 BBG000BLPBL5 2304
LUMENTUM HOLDINGS INC LITE 0.06 341678 BBG0073F9RT7 332
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 351641 BBG000D4LWF6 5758
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 363998 BBG000C30L48 224
NXP Semiconductors NV NXPI 0.06 376046 BBG000BND699 1162
MONSTER BEVERAGE CORP MNST 0.06 390991 BBG008NVB1C0 4431
MERCADOLIBRE INC MELI 0.06 386424 BBG000GQPB11 231
INTUIT INC INTU 0.06 383669 BBG000BH5DV1 1191
Datadog Inc. Class A DDOG 0.06 375436 BBG003NJHZT9 1395
Warner Bros Discovery Inc WBD 0.05 308303 BBG011386VF4 11343
Baker Hughes Company BKR 0.05 287590 BBG00GBVBK51 4456
ESSEX PROPERTY TRUST INC ESS 0.05 303939 BBG000CGJMB9 1095
REGENERON PHARMACEUTICALS REGN 0.05 282769 BBG000C734W3 469
DOORDASH INC CLASS A DASH 0.05 279371 BBG005D7QCJ3 1780
ROSS STORES INC ROST 0.05 314019 BBG000BSBZH7 1403
INVITATION HOMES INC REIT USD.01 INVH 0.05 293925 BBG00FQH6BS9 10181
CINTAS CORP CTAS 0.05 320104 BBG000H3YXF8 1847
OREILLY AUTOMOTIVE INC ORLY 0.05 331986 BBG000BGYWY6 3850
AMERICAN ELECTRIC POWER AEP 0.05 319046 BBG000BB9KF2 2510
PACCAR INC PCAR 0.04 269017 BBG000BQVTF5 2383
XCEL ENERGY INC XEL 0.04 219048 BBG000BCTQ65 2813
Sun Communities Inc SUI 0.04 238155 BBG000BLJWF3 1964
MICROCHIP TECHNOLOGY INC MCHP 0.04 237843 BBG000BHCP19 2453
HOST HOTELS & RESORTS INC HST 0.04 245700 BBG000BL8804 10389
ARM HOLDINGS PLC ARM 0.04 248875 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 214335 BBG000J6XT05 4763
AIRBNB INC ABNB 0.04 251772 BBG001Y2XS07 1874
MID-AMERICA APARTMENT COMM MAA 0.04 238447 BBG000BLMY92 1849
KIMCO REALTY CORP KIM 0.04 236270 BBG000CN3S73 9965
FERROVIAL SE FER 0.04 215671 BBG01H7CZ9S9 3251
AUTODESK INC ADSK 0.04 229087 BBG000BM7HL0 968
DIAMONDBACK ENERGY INC FANG 0.04 260286 BBG002PHSYX9 1286
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 255105 BBG00LBLDDR2 2893
W. P. CAREY REIT INC WPC 0.04 238637 BBG000BCQM58 3234
ELECTRONIC ARTS INC EA 0.04 223221 BBG000BP0KQ8 1105
PAYCHEX INC PAYX 0.03 156628 BBG000BQSQ38 1554
PAYPAL HOLDINGS INC PYPL 0.03 185289 BBG0077VNXV6 4161
ROPER TECHNOLOGIES INC ROP 0.03 156136 BBG000F1ZSN5 464
Old Dominion Freight Line Inc. ODFL 0.03 210716 BBG000CHSS88 921
AXON ENTERPRISE INC AXON 0.03 177914 BBG000BHJWG1 363
IDEXX LABS IDXX 0.03 199948 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 181259 BBG000BC4JJ4 649
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 184131 BBG000BS1YV5 828
KEURIG DR PEPPER INC KDP 0.03 189173 BBG000TJM7F0 6231
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 183072 BBG000B9ZXB4 2105
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 177681 BBG000BFGNJ5 621
MCDONALDS CORP MCD 0.03 178529 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 176754 BBG000BHLYS1 1703
MICROSTRATEGY INC-CL A MSTR 0.03 183708 BBG000GQJPZ0 1350
THOMSON REUTERS CORP TRI 0.03 162444 N/A 1881.67
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 192010 BBG00B6BFWH9 2110
INSMED INC INSM 0.02 98854.7 BBG000BWM5P3 953
KRAFT HEINZ CO/THE KHC 0.02 127498 BBG005CPNTQ2 5465
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 114250 BBG000BBDV81 2072
VERISK ANALYTICS INC VRSK 0.02 117490 BBG000BCZL41 656
Zscaler Inc. ZS 0.02 130023 BBG003338H34 902
COPART INC CPRT 0.02 134827 BBG000BM9RH1 4369
WORKDAY INC-CLASS A WDAY 0.02 124761 BBG000VC0T95 838
DEXCOM INC DXCM 0.02 120311 BBG000QTF8K1 1638
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 130861 BBG01BFR8YV1 2111
CHARTER COMMUNICATIONS INC-A CHTR 0.01 83460.6 BBG000VPGNR2 595

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.