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 12/02/2025
TICKER RAA
NET ASSETS $502M
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 $27.72
30 DAY MEDIAN BID-ASK SPREAD 0.000371

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 N/A N/A N/A N/A
RAA - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
RAA - NAV 2.14% 3.44% 7.33% 6.54% - - 11.85% 9.50%
RAA - Market Price 2.17% 3.45% 7.45% 6.40% - - 11.90% 9.52%
S&P 500 Index Total Return 2.34% 3.65% 8.23% 8.12% - - 15.83% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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 12/02/2025

NET ASSET VALUE

$27.72

CLOSING PRICE

$27.73

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 28
Discount 0 0 5 13 10

Asset Allocation

As of 12/2/2025

Equities

44.09%
Nasdaq
19.17%
US Large Cap
14.97%
Emerging Ex. China
2.99%
Japan
2.96%
Europe
2.01%
Dividend Payers
1.00%
US Small Cap
0.99%

Fixed Income

26.89%
High Yield
6.94%
Corporate Bonds
5.93%
Emerging Mkt Bonds
4.96%
TIPS
3.95%
Long Term Treasuries
2.94%
T-Bills
2.17%

Alternatives

29.02%
Commodities
7.06%
Managed Futures
6.93%
Gold
4.02%
Energy
3.99%
Bitcoin
3.03%
Miners
3.01%
Real Estate
0.98%

Holdings

As of 12/02/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.97 75201000 BBG00RYR67P4 575151
INVESCO OPTIMUM YIELD DIVERS PDBC 7.06 35453400 N/A 2587840
Schwab High Yield Bond ETF SCYB 6.94 34849600 BBG01F80WX71 1317820
iM DBi Managed Futures Strategy ETF DBMF 6.93 34813700 N/A 1210910
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 29805700 BBG000PWYVH7 354830
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.96 24938600 BBG000NXKWH0 258646
SPROTT PHYSICAL GOLD TRUS PHYS 4.02 20208900 BBG000Q83F79 627411
SCHWAB U.S. TIPS ETF SCHP 3.95 19860100 BBG000BGN6P5 742712
GRAYSCALE BITCN MINI TRU ETF BTC.UP 3.03 15205700 N/A 377218
ISHARES MSCI EMR MRK EX CHNA EMXC 2.99 15024600 BBG00H5VLMJ6 211138
Franklin FTSE Japan ETF FLJP 2.96 14890800 BBG00J3MDY16 420526
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.94 14756000 BBG00PZFJPC3 458689
Franklin FTSE Europe ETF FLEE 2.01 10081100 BBG00J3PR1S7 282305
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 9984480 BBG01922X0X9 200170
NVIDIA CORP NVDA 1.77 8881920 BBG000BBJQV0 48947
APPLE INC AAPL 1.72 8636640 BBG000B9XRY4 30178
MICROSOFT CORP MSFT 1.45 7303450 BBG000BPH459 14905
Broadcom Inc. AVGO 1.17 5885720 BBG00KHY5S69 15425
AMAZON.COM INC AMZN 1.02 5107070 BBG000BVPV84 21786
VANGUARD SMALL-CAP ETF VB 0.99 4963450 BBG000HT3Z79 19362
ISHARES MSCI GLOBAL METALS & PICK 0.76 3808450 BBG002GKR8T5 79658
ALPHABET INC-CL A GOOGL 0.76 3800770 BBG009S39JX6 12035
ALPHABET INC-CL C GOOG 0.71 3556490 BBG009S3NB30 11254
Tesla Inc. TSLA 0.63 3153200 BBG000N9MNX3 7346
META PLATFORMS INC META 0.57 2870540 BBG000MM2P62 4436
NETFLIX INC NFLX 0.46 2287710 BBG000CL9VN6 20921
CHEVRON CORP CVX 0.43 2147970 BBG000K4ND22 14296
CANADIAN NATURAL RESOURCES CNQ 0.40 2008770 BBG000HW5GX3 59874
WILLIAMS COMPANIES INC. WMB 0.40 1995480 BBG000BWVCP8 33142
OCCIDENTAL PETROLEUM CORP OXY 0.40 2016550 BBG000BQQ2S6 48036
EQT CORP EQT 0.40 1988470 BBG000BHZ5J9 33933
SCHLUMBERGER LTD SLB 0.40 2010860 BBG000BT41Q8 55741
COSTCO WHOLESALE CORP COST 0.40 2024780 BBG000F6H8W8 2196
EXXON MOBIL CORP XOM 0.40 2001730 BBG000GZQ728 17349
Cheniere Energy Inc LNG 0.40 2031270 BBG000C3HSR0 9706
MARATHON PETROLEUM CORP MPC 0.40 1997910 BBG001DCCGR8 10368
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.39 1956730 BBG000BRK7L6 44902
BHP GROUP LTD BHP 0.38 1900860 BBG000BD5NZ4 33781
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.38 1908140 BBG000N7QR55 11179
ADVANCED MICRO DEVICES INC AMD 0.34 1687910 BBG000BBQCY0 7842
ISHARES MSCI GLOBAL GOLD MIN RING 0.33 1655010 BBG002GKR6T9 23796
CISCO SYSTEMS INC CSCO 0.31 1532560 BBG000C3J3C9 19937
NEWMONT GOLDCORP CORPORATION COM NEM 0.28 1402530 BBG000BPWXK1 15501
MICRON TECHNOLOGY INC MU 0.26 1313360 BBG000C5Z1S3 5484
T-MOBILE US INC TMUS 0.24 1191860 BBG000NDV1D4 5672
AGNICO EAGLE MINES LTD AEM 0.23 1178370 BBG000DLVDK3 6941
RIO TINTO PLC-SPON ADR RIO 0.22 1101300 BBG000FD28T3 15224
APPLIED MATERIALS INC AMAT 0.21 1032930 BBG000BBPFB9 3893
INTUITIVE SURGICAL INC ISRG 0.21 1034390 BBG000BJPDZ1 1822
PEPSICO INC PEP 0.20 1012780 BBG000DH7JK6 6815
LAM RESH CORP LRCX 0.20 987536 BBG000BNFLM9 6253
INTEL CORP INTC 0.19 930258 BBG000C0G1D1 21400
SHOPIFY INC - CLASS A SHOP 0.19 952899 BBG008HBD923 6076
LINDE PLC LIN 0.19 959168 BBG01FND0CC1 2355
APPLOVIN CORP APP 0.19 957298 BBG006HFPX77 1466
Barrick Mining Corp. B 0.19 961210 N/A 23427
QUALCOMM INC QCOM 0.18 915635 BBG000CGC1X8 5364
INTUIT INC INTU 0.18 921028 BBG000BH5DV1 1449
AMGEN INC AMGN 0.18 915940 BBG000BBS2Y0 2707
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.18 886418 BBG00CMNZNK7 886418
BOOKING HOLDINGS INC BKNG 0.17 842152 BBG000BLBVN4 164
TEXAS INSTRUMENTS INC TXN 0.16 781835 BBG000BVV7G1 4461
FREEPORT-MCMORAN INC FCX 0.16 812692 BBG000BJDB15 18913
KLA CORPORATION KLAC 0.16 786497 BBG000BMTFR4 661
GILEAD SCIENCES INC GILD 0.15 767375 BBG000CKGBP2 6193
WELLTOWER INC WELL 0.15 739445 BBG000BKY1G5 3639
AUTOMATIC DATA PROCESSING ADP 0.15 778227 BBG000JG0547 3026
ADOBE SYSTEMS INC ADBE 0.14 697592 BBG000BB5006 2161
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 655120 BBG000PVRDL2 6080
PALO ALTO NETWORKS INC PANW 0.13 639136 BBG0014GJCT9 3366
PROLOGIS INC PLD 0.13 650839 BBG000B9Z0J8 5048
Crowdstrike Holdings Inc. Class A CRWD 0.13 664283 BBG00BLYKS03 1286
ANALOG DEVICES INC ADI 0.13 661679 BBG000BB6G37 2424
HONEYWELL INTERNATIONAL INC HON 0.12 622909 BBG000H556T9 3225
GLENCORE PLC -UNSP ADR GLNCY 0.12 616563 BBG001VKX1Z1 65107
VERTEX PHARMACEUTICALS INC VRTX 0.11 553999 BBG000C1S2X2 1279
CONSTELLATION ENERGY CORPORATION CEG 0.11 559324 BBG014KFRNP7 1538
MERCADOLIBRE INC MELI 0.11 543789 BBG000GQPB11 257
Anglo American PLC NGLOD 0.11 552900 N/A 29146
REALTY INCOME CORP O 0.10 513532 BBG000DHPN63 8931
FRANCO-NEVADA CORP FNV 0.10 491569 BBG000RD3CL8 2417
STARBUCKS CORP SBUX 0.10 485810 BBG000CTQBF3 5702
COMCAST CORP-CLASS A CMCSA 0.10 503788 BBG000BFT2L4 18645
CADENCE DESIGN SYS INC CDNS 0.09 434624 BBG000C13CD9 1367
FASTENAL CO FAST 0.09 467631 BBG000BJ8YN7 11555
DOORDASH INC CLASS A DASH 0.09 443290 BBG005D7QCJ3 2043
ASML HOLDING NV-NY REG SHS ASML 0.09 452382 BBG000K6MRN4 408
Marriott International, Inc Class A MAR 0.08 420417 BBG000BGD7W6 1380
REGENERON PHARMACEUTICALS REGN 0.08 386582 BBG000C734W3 521
EQUINIX INC EQIX 0.08 386239 BBG000MBDGM6 531
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 389160 BBG00LBLDDR2 3273
SYNOPSYS INC SNPS 0.08 405314 BBG000BSFRF3 902
OREILLY AUTOMOTIVE INC ORLY 0.08 419727 BBG000BGYWY6 4204
Cash & Other Cash&Other 0.07 371484 N/A 371484
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 363823 BBG000D4LWF6 6498
SIMON PROPERTY GROUP INC SPG 0.07 342844 BBG000BJ2D31 1882
MONSTER BEVERAGE CORP MNST 0.07 369067 BBG008NVB1C0 4940
CINTAS CORP CTAS 0.07 369117 BBG000H3YXF8 2004
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 376762 BBG00ZXBJ153 4056
PAYPAL HOLDINGS INC PYPL 0.06 299467 BBG0077VNXV6 4761
PACCAR INC PCAR 0.06 276585 BBG000BQVTF5 2612
PUBLIC STORAGE PSA 0.06 298564 BBG000BPPN67 1093
Warner Bros Discovery Inc WBD 0.06 297009 BBG011386VF4 12108
AMERICAN ELECTRIC POWER AEP 0.06 322517 BBG000BB9KF2 2705
IDEXX LABS IDXX 0.06 296756 BBG000BLRT07 405
CSX CORP CSX 0.06 321025 BBG000BGJRC8 9180
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 304903 N/A 2287
AUTODESK INC ADSK 0.06 321729 BBG000BM7HL0 1037
DIGITAL REALTY TRUST INC DLR 0.06 294846 BBG000Q5ZRM7 1884
FORTINET INC FTNT 0.06 325374 BBG000BCMBG4 3923
ROSS STORES INC ROST 0.06 295476 BBG000BSBZH7 1664
Ventas Inc. VTR 0.05 250570 BBG000FRVHB9 3129
XCEL ENERGY INC XEL 0.05 229137 BBG000BCTQ65 2899
ROPER TECHNOLOGIES INC ROP 0.05 234511 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 244167 BBG01C79X561 14482
EXELON CORP EXC 0.05 228375 BBG000J6XT05 5075
Kimberly-Clark Corp KMB 0.05 247375 BBG000BMW2Z0 2313
GENUINE PARTS CO GPC 0.05 233657 BBG000BKL348 1812
Baker Hughes Company BKR 0.05 241858 BBG00GBVBK51 4888
HORMEL FOODS CORP HRL 0.05 249349 BBG000BLF8D2 10799
MICROSTRATEGY INC-CL A MSTR 0.05 233553 BBG000GQJPZ0 1288
ILLINOIS TOOL WORKS ITW 0.05 248877 BBG000BMBL90 1002
AMCOR PLC AMCR 0.05 244146 BBG00LNJRQ09 29065
TARGET CORP TGT 0.05 252683 BBG000H8TVT2 2793
MEDTRONIC PLC MDT 0.05 237628 BBG000BNWG87 2329
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 232514 BBG000BS1YV5 942
FRANKLIN RESOURCES INC BEN 0.05 248795 BBG000BD0TF8 11097
AIRBNB INC ABNB 0.05 258093 BBG001Y2XS07 2178
NXP Semiconductors NV NXPI 0.05 260789 BBG000BND699 1211
T ROWE PRICE GROUP INC TROW 0.05 251052 BBG000BVMPN3 2450
ABBVIE INC ABBV 0.05 247256 BBG0025Y4RY4 1102
EVERSOURCE ENERGY ES 0.05 229499 BBG000BQ87N0 3461
WORKDAY INC-CLASS A WDAY 0.05 257376 BBG000VC0T95 1208
ASTRAZENECA PLC-SPONS ADR AZN 0.05 265100 BBG000BZ0DK8 2940
Datadog Inc. Class A DDOG 0.05 250994 BBG003NJHZT9 1604
STANLEY BLACK & DECKER INC SWK 0.05 247630 BBG000BTQR96 3476
ELECTRONIC ARTS INC EA 0.05 257061 BBG000BP0KQ8 1266
PAYCHEX INC PAYX 0.04 208488 BBG000BQSQ38 1882
AVALONBAY COMMUNITIES INC AVB 0.04 198689 BBG000BLPBL5 1097
PPG INDUSTRIES INC PPG 0.04 225262 BBG000BRJ809 2247
AXON ENTERPRISE INC AXON 0.04 212411 BBG000BHJWG1 395
Zscaler Inc. ZS 0.04 218720 BBG003338H34 905
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 191661 BBG000BBDV81 2467
EXTRA SPACE STORAGE INC EXR 0.04 198647 BBG000PV27K3 1499
KEURIG DR PEPPER INC KDP 0.04 184083 BBG000TJM7F0 6544
COPART INC CPRT 0.04 191099 BBG000BM9RH1 4905
VICI PROPERTIES INC REIT VICI 0.04 197045 BBG00HVVB499 6926
DIAMONDBACK ENERGY INC FANG 0.04 219152 BBG002PHSYX9 1405
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 180495 BBG01BFR8YV1 2250
International Business Machines Corporation IBM 0.04 204003 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 212912 BBG00B6BFWH9 2303
MICROCHIP TECHNOLOGY INC MCHP 0.03 150225 BBG000BHCP19 2649
KRAFT HEINZ CO/THE KHC 0.03 146216 BBG005CPNTQ2 5858
Old Dominion Freight Line Inc. ODFL 0.03 146262 BBG000CHSS88 1036
VERISK ANALYTICS INC VRSK 0.03 150650 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 130208 BBG01BGWHFR5 846
COSTAR GROUP INC CSGP 0.03 140151 BBG000D7JKW9 2055
CHARTER COMMUNICATIONS INC-A CHTR 0.03 134054 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 150487 BBG000BG8M31 2428
IRON MOUNTAIN INC IRM 0.03 143937 BBG000KCZPC3 1739
BIOGEN INC BIIB 0.03 133153 BBG000C17X76 739
DEXCOM INC DXCM 0.03 128384 BBG000QTF8K1 1992
AFLAC INC AFL 0.03 142023 BBG000BBBNC6 1305
Sun Communities Inc SUI 0.02 98244.7 BBG000BLJWF3 772
GLOBALFOUNDRIES INC GFS 0.02 100140 BBG000C2L5G9 2697
ESSEX PROPERTY TRUST INC ESS 0.02 99338.1 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 98481.2 BBG000DV7MX4 1913
MID-AMERICA APARTMENT COMM MAA 0.02 99686.6 BBG000BLMY92 737
LULULEMON ATHLETICA INC LULU 0.02 105792 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 94713.1 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 123256 BBG000BFS7D3 1164
KIMCO REALTY CORP KIM 0.02 98049 BBG000CN3S73 4830
Omega Healthcare Investors Inc OHI 0.02 100001 BBG000BGBTC2 2173
ARM HOLDINGS PLC ARM 0.02 87074.2 BBG01J1GXZF0 638
TRADE DESK INC/THE -CLASS A TTD 0.02 86931.2 BBG00629NGT2 2176
INVITATION HOMES INC REIT USD.01 INVH 0.02 99184.5 BBG00FQH6BS9 3555
W. P. CAREY REIT INC WPC 0.02 98198.3 BBG000BCQM58 1478
AO Smith Corp AOS 0.01 49799.8 BBG000BC1L02 755
AIR PRODUCTS & CHEMICALS INC APD 0.01 49556.6 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 48725.6 BBG000BHLYS1 503
JOHNSON & JOHNSON JNJ 0.01 49711.6 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 48415.9 BBG000BNSZP1 161
Solstice Advanced Materials Inc. SOLSV 0.00 6775.91 BBG01X5744P5 145.25

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.