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 04/10/2026
TICKER RAA
NET ASSETS $552M
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 $28.39
30 DAY MEDIAN BID-ASK SPREAD 0.000725

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 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 04/10/2026

NET ASSET VALUE

$28.39

CLOSING PRICE

$28.39

PREMIUM/DISCOUNT

0.00%
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 4
Discount 5 13 16 8 2

Asset Allocation

As of 4/10/2026

Equities

47.98%
Nasdaq
21.27%
US Large Cap
17.20%
Dividend Payers
2.30%
Emerging Ex. China
2.12%
Japan
2.04%
US Small Cap
2.02%
Europe
1.03%

Fixed Income

27.74%
High Yield
6.82%
Corporate Bonds
5.82%
Emerging Mkt Bonds
3.93%
TIPS
3.89%
Long Term Treasuries
3.86%
T-Bills
3.42%

Alternatives

24.28%
Managed Futures
7.63%
Commodities
4.76%
Miners
3.13%
Gold
2.98%
Energy
2.81%
Bitcoin
2.08%
Real Estate
0.89%

Holdings

As of 04/10/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.20 94870300 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.63 42078300 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.82 37593000 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.82 32123300 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.76 26238500 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.93 21692300 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.89 21447100 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.86 21265800 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.98 16444300 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.91 16053100 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.12 11689200 BBG00H5VLMJ6 137391
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.08 11488100 N/A 354135
Franklin FTSE Japan ETF FLJP 2.04 11268900 BBG00J3MDY16 297962
VANGUARD SMALL-CAP ETF VB 2.02 11150000 BBG000HT3Z79 40976
NVIDIA CORP NVDA 1.89 10422800 BBG000BBJQV0 55255
APPLE INC AAPL 1.60 8847720 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.14 6263620 BBG000BPH459 16889
AMAZON.COM INC AMZN 1.04 5730890 BBG000BVPV84 24041
Franklin FTSE Europe ETF FLEE 1.03 5673700 BBG00J3PR1S7 148061
ALPHABET INC-CL A GOOGL 0.75 4158380 BBG009S39JX6 13108
Broadcom Inc. AVGO 0.74 4057700 BBG00KHY5S69 10921
META PLATFORMS INC META 0.73 4031100 BBG000MM2P62 6400
WAL-MART STORES INC WMT 0.73 4003520 BBG000BWXBC2 31581
Tesla Inc. TSLA 0.72 3987450 BBG000N9MNX3 11427
ALPHABET INC-CL C GOOG 0.70 3868520 BBG009S3NB30 12253
BHP GROUP LTD BHP 0.63 3468430 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.60 3328130 BBG000C5Z1S3 7913
COSTCO WHOLESALE CORP COST 0.52 2851630 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.50 2759430 BBG000CL9VN6 26788
ADVANCED MICRO DEVICES INC AMD 0.47 2586150 BBG000BBQCY0 10554
NEWMONT GOLDCORP CORPORATION COM NEM 0.41 2271590 BBG000BPWXK1 18789
CISCO SYSTEMS INC CSCO 0.40 2182450 BBG000C3J3C9 26544
LAM RESH CORP LRCX 0.39 2145660 BBG000BNFLM9 8138
RIO TINTO PLC-SPON ADR RIO 0.37 2039090 BBG000FD28T3 20752
APPLIED MATERIALS INC AMAT 0.37 2068160 BBG000BBPFB9 5177
INTEL CORP INTC 0.36 2006950 BBG000C0G1D1 32173
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 1853030 BBG000N7QR55 14470
CHEVRON CORP CVX 0.34 1860610 BBG000K4ND22 9868
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.31 1724360 BBG00CMNZNK7 1724360
AGNICO EAGLE MINES LTD AEM 0.30 1675620 BBG000DLVDK3 7660
SCHLUMBERGER LTD SLB 0.29 1622450 BBG000BT41Q8 31249
WILLIAMS COMPANIES INC. WMB 0.29 1625080 BBG000BWVCP8 22341
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.29 1606950 BBG000BRK7L6 24941
Cheniere Energy Inc LNG 0.28 1524730 BBG000C3HSR0 5742
CANADIAN NATURAL RESOURCES CNQ 0.28 1558150 BBG000HW5GX3 33617
FREEPORT-MCMORAN INC FCX 0.28 1553700 BBG000BJDB15 22916
MARATHON PETROLEUM CORP MPC 0.27 1481090 BBG001DCCGR8 6653
KLA CORPORATION KLAC 0.27 1480160 BBG000BMTFR4 852
EXXON MOBIL CORP XOM 0.27 1469430 BBG000GZQ728 9635
EQT CORP EQT 0.27 1496870 BBG000BHZ5J9 25509
OCCIDENTAL PETROLEUM CORP OXY 0.27 1472790 BBG000BQQ2S6 25406
LINDE PLC LIN 0.27 1510460 BBG01FND0CC1 3002
T-MOBILE US INC TMUS 0.26 1408720 BBG000NDV1D4 7198
PEPSICO INC PEP 0.25 1388100 BBG000DH7JK6 8838
GLENCORE PLC -UNSP ADR GLNCY 0.24 1348270 BBG001VKX1Z1 88702
TEXAS INSTRUMENTS INC TXN 0.23 1253590 BBG000BVV7G1 5838
AMGEN INC AMGN 0.22 1222600 BBG000BBS2Y0 3483
Barrick Mining Corp. B 0.22 1204240 N/A 27652
ANALOG DEVICES INC ADI 0.20 1086130 BBG000BB6G37 3102
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1123810 BBG000PVRDL2 7759
GILEAD SCIENCES INC GILD 0.20 1096080 BBG000CKGBP2 7886
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1068350 BBG020BR8WR7 42454
INTUITIVE SURGICAL INC ISRG 0.18 1019750 BBG000BJPDZ1 2263
AUTOMATIC DATA PROCESSING ADP 0.18 980953 BBG000JG0547 5196
HONEYWELL INTERNATIONAL INC HON 0.17 960844 BBG000H556T9 4088
FRANCO-NEVADA CORP FNV 0.17 961719 BBG000RD3CL8 3677
BOOKING HOLDINGS INC BKNG 0.16 867300 BBG000BLBVN4 5000
QUALCOMM INC QCOM 0.16 887968 BBG000CGC1X8 6934
VALE SA-SP ADR VALE 0.16 855479 BBG000BN5LG7 50441
SHOPIFY INC - CLASS A SHOP 0.15 840231 BBG008HBD923 7584
REALTY INCOME CORP O 0.15 825308 BBG000DHPN63 12946
ASML HOLDING NV-NY REG SHS ASML 0.15 836706 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 824185 N/A 34864
PALO ALTO NETWORKS INC PANW 0.14 761987 BBG0014GJCT9 4893
WESTERN DIGITAL CORP WDC 0.14 775465 BBG000BWNFZ9 2258
APPLOVIN CORP APP 0.14 754581 BBG006HFPX77 1928
STARBUCKS CORP SBUX 0.13 690980 BBG000CTQBF3 7153
WELLTOWER INC WELL 0.13 727811 BBG000BKY1G5 3506
VERTEX PHARMACEUTICALS INC VRTX 0.13 702831 BBG000C1S2X2 1611
CONSTELLATION ENERGY CORPORATION CEG 0.13 731721 BBG014KFRNP7 2554
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 704885 BBG0113JGQF0 1401
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 702712 BBG00ZXBJ153 5469
COMCAST CORP-CLASS A CMCSA 0.12 643340 BBG000BFT2L4 23034
PROLOGIS INC PLD 0.12 663451 BBG000B9Z0J8 4836
Crowdstrike Holdings Inc. Class A CRWD 0.11 585586 BBG00BLYKS03 1545
Marriott International, Inc Class A MAR 0.11 592409 BBG000BGD7W6 1673
INTUIT INC INTU 0.11 609934 BBG000BH5DV1 1738
ADOBE SYSTEMS INC ADBE 0.11 582304 BBG000BB5006 2584
CLOROX COMPANY CLX 0.10 548193 BBG000BFS7D3 5207
EVERSOURCE ENERGY ES 0.10 544507 BBG000BQ87N0 7782
MEDTRONIC PLC MDT 0.10 539045 BBG000BNWG87 6181
FRANKLIN RESOURCES INC BEN 0.10 565955 BBG000BD0TF8 22720
T ROWE PRICE GROUP INC TROW 0.10 539516 BBG000BVMPN3 5897
ILLINOIS TOOL WORKS ITW 0.10 558894 BBG000BMBL90 2066
Kimberly-Clark Corp KMB 0.10 543601 BBG000BMW2Z0 5588
STANLEY BLACK & DECKER INC SWK 0.10 547489 BBG000BTQR96 7584
MERCADOLIBRE INC MELI 0.10 544606 BBG000GQPB11 307
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 565366 N/A 13735.8
KENVUE INC KVUE 0.10 541494 BBG01C79X561 31210
HORMEL FOODS CORP HRL 0.09 485732 BBG000BLF8D2 23605
GENUINE PARTS CO GPC 0.09 483472 BBG000BKL348 4497
AMERICAN ELECTRIC POWER AEP 0.09 481139 BBG000BB9KF2 3530
MONSTER BEVERAGE CORP MNST 0.09 487410 BBG008NVB1C0 6437
EQUINIX INC EQIX 0.09 503787 BBG000MBDGM6 489
CSX CORP CSX 0.09 501896 BBG000BGJRC8 11882
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 498432 BBG000D4LWF6 8448
AO Smith Corp AOS 0.09 518065 BBG000BC1L02 7859
REGENERON PHARMACEUTICALS REGN 0.09 479277 BBG000C734W3 640
OREILLY AUTOMOTIVE INC ORLY 0.09 499278 BBG000BGYWY6 5368
CADENCE DESIGN SYS INC CDNS 0.09 473406 BBG000C13CD9 1782
PPG INDUSTRIES INC PPG 0.09 489865 BBG000BRJ809 4440
Baker Hughes Company BKR 0.08 419642 BBG00GBVBK51 6679
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 428928 BBG00LBLDDR2 4282
SYNOPSYS INC SNPS 0.08 466373 BBG000BSFRF3 1189
ABBVIE INC ABBV 0.08 426485 BBG0025Y4RY4 2051
ROSS STORES INC ROST 0.08 459128 BBG000BSBZH7 2076
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 419694 BBG000C30L48 310
CINTAS CORP CTAS 0.08 443273 BBG000H3YXF8 2534
PACCAR INC PCAR 0.08 422907 BBG000BQVTF5 3325
Warner Bros Discovery Inc WBD 0.08 440055 BBG011386VF4 16037
FORTINET INC FTNT 0.07 358649 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 389261 BBG000Q5ZRM7 2061
SIMON PROPERTY GROUP INC SPG 0.07 402143 BBG000BJ2D31 2005
J M Smucker Co COM STK NPV SJM 0.07 391822 BBG000BT1715 4310
International Business Machines Corporation IBM 0.07 382139 BBG000BLNNH6 1656
DIAMONDBACK ENERGY INC FANG 0.07 358719 BBG002PHSYX9 1906
DOORDASH INC CLASS A DASH 0.07 392741 BBG005D7QCJ3 2574
AIRBNB INC ABNB 0.06 343163 BBG001Y2XS07 2661
NXP Semiconductors NV NXPI 0.06 328627 BBG000BND699 1608
FASTENAL CO FAST 0.06 357958 BBG000BJ8YN7 7280
PUBLIC STORAGE PSA 0.06 350755 BBG000BPPN67 1189
EXELON CORP EXC 0.06 325225 BBG000J6XT05 6696
XCEL ENERGY INC XEL 0.06 328696 BBG000BCTQ65 3990
ELECTRONIC ARTS INC EA 0.06 324992 BBG000BP0KQ8 1603
FERROVIAL SE FER 0.06 322397 BBG01H7CZ9S9 4516
AUTODESK INC ADSK 0.05 286388 BBG000BM7HL0 1311
IDEXX LABS IDXX 0.05 291634 BBG000BLRT07 518
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 289562 BBG00B6BFWH9 2972
PAYPAL HOLDINGS INC PYPL 0.05 257325 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 278981 BBG000CHSS88 1339
Ventas Inc. VTR 0.05 277140 BBG000FRVHB9 3262
MICROSTRATEGY INC-CL A MSTR 0.05 267957 BBG000GQJPZ0 2083
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 261231 BBG000BFGNJ5 811
Datadog Inc. Class A DDOG 0.04 218327 BBG003NJHZT9 2072
KEURIG DR PEPPER INC KDP 0.04 240060 BBG000TJM7F0 9035
VICI PROPERTIES INC REIT VICI 0.04 219258 BBG00HVVB499 7800
PAYCHEX INC PAYX 0.04 196640 BBG000BQSQ38 2298
COPART INC CPRT 0.04 199312 BBG000BM9RH1 6084
CINCINNATI FINANCIAL CORP CINF 0.04 225918 BBG000BFPK65 1402
ROPER TECHNOLOGIES INC ROP 0.04 228538 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 239440 BBG000BHCP19 3346
EXTRA SPACE STORAGE INC EXR 0.04 227886 BBG000PV27K3 1641
AVALONBAY COMMUNITIES INC AVB 0.04 224110 BBG000BLPBL5 1320
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 222886 BBG000BS1YV5 1131
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 238569 N/A 2865
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 208929 BBG01BFR8YV1 2855
AXON ENTERPRISE INC AXON 0.03 181273 BBG000BHJWG1 524
WORKDAY INC-CLASS A WDAY 0.03 144675 BBG000VC0T95 1286
INSMED INC INSM 0.03 190881 BBG000BWM5P3 1233
VERISK ANALYTICS INC VRSK 0.03 145552 BBG000BCZL41 886
CONSOLIDATED EDISON INC ED 0.03 145016 BBG000BHLYS1 1277
EQUITY RESIDENTIAL EQR 0.03 165445 BBG000BG8M31 2706
IRON MOUNTAIN INC IRM 0.03 172148 BBG000KCZPC3 1574
KRAFT HEINZ CO/THE KHC 0.03 173503 BBG005CPNTQ2 7524
DEXCOM INC DXCM 0.03 158321 BBG000QTF8K1 2473
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 180015 BBG000BBDV81 3108
CHARTER COMMUNICATIONS INC-A CHTR 0.03 179870 BBG000VPGNR2 822
Zscaler Inc. ZS 0.02 112738 BBG003338H34 955
INVITATION HOMES INC REIT USD.01 INVH 0.02 111600 BBG00FQH6BS9 4289
COSTAR GROUP INC CSGP 0.02 100466 BBG000D7JKW9 2754
MCDONALDS CORP MCD 0.02 104848 BBG000BNSZP1 343
Sun Communities Inc SUI 0.02 109646 BBG000BLJWF3 848
MID-AMERICA APARTMENT COMM MAA 0.02 110086 BBG000BLMY92 871
ESSEX PROPERTY TRUST INC ESS 0.02 109781 BBG000CGJMB9 439
KIMCO REALTY CORP KIM 0.02 109872 BBG000CN3S73 4742
Omega Healthcare Investors Inc OHI 0.02 110583 BBG000BGBTC2 2415
W. P. CAREY REIT INC WPC 0.02 112443 BBG000BCQM58 1570
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 104914 BBG000B9ZXB4 1046
AIR PRODUCTS & CHEMICALS INC APD 0.02 110224 BBG000BC4JJ4 369
Cash & Other Cash&Other 0.01 29011.6 N/A 29011.6
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 55949.9 BBG01BGWHFR5 979
ASTRAZENECA PLC AZNCF 0.00 612.09 BBG000D3MHB4 3

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.