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 08/14/2025
TICKER RAA
NET ASSETS $461M
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 $26.40
30 DAY MEDIAN BID-ASK SPREAD 0.000768

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 1.39% 3.48% 8.07% 6.98% - - 4.20% 2.78%
RAA - Market Price 1.15% 3.45% 7.82% 6.79% - - 4.14% 2.95%
S&P 500 Index Total Return 2.24% 5.09% 14.21% 10.94% 6.20% 8.59% 17.43% 4.68%
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

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 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Premium 0 0 23 54 26
Discount 0 0 0 5 4

Asset Allocation

As of 8/14/2025

Equities

55.14%
Nasdaq
25.02%
US Large Cap
17.95%
Dividend Payers
5.06%
Europe
2.05%
Emerging Ex. China
2.01%
US Small Cap
2.00%
Japan
1.05%

Fixed Income

24.90%
High Yield
9.89%
Emerging Mkt Bonds
4.98%
Corporate Bonds
4.94%
TIPS
2.97%
T-Bills
1.13%
Long Term Treasuries
0.99%

Alternatives

19.96%
Gold
5.02%
Managed Futures
4.97%
Miners
3.10%
Bitcoin
2.99%
Real Estate
1.95%
Commodities
0.97%
Energy
0.96%

Holdings

As of 08/14/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.95 82701000 BBG00RYR67P4 669102
Schwab High Yield Bond ETF SCYB 9.89 45556900 BBG01F80WX71 1723030
SPROTT PHYSICAL GOLD TRUS PHYS 5.02 23126600 BBG000Q83F79 902679
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.98 22962000 BBG000NXKWH0 244459
iM DBi Managed Futures Strategy ETF DBMF 4.97 22892200 N/A 881485
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.94 22778500 BBG000PWYVH7 274043
ISHARES MSCI GLOBAL METALS & PICK 3.10 14279800 BBG002GKR8T5 355395
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.99 13761400 N/A 263275
SCHWAB U.S. TIPS ETF SCHP 2.97 13680800 BBG000BGN6P5 512197
NVIDIA CORP NVDA 2.48 11432300 BBG000BBJQV0 62808
MICROSOFT CORP MSFT 2.10 9695660 BBG000BPH459 18557
Franklin FTSE Europe ETF FLEE 2.05 9432740 BBG00J3PR1S7 275113
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 9271400 BBG00H5VLMJ6 144033
VANGUARD SMALL-CAP ETF VB 2.00 9208380 BBG000HT3Z79 37299
APPLE INC AAPL 2.00 9211800 BBG000B9XRY4 39573
Broadcom Inc. AVGO 1.38 6341000 BBG00KHY5S69 20374
AMAZON.COM INC AMZN 1.37 6297670 BBG000BVPV84 27265
Franklin FTSE Japan ETF FLJP 1.05 4850690 BBG00J3MDY16 143215
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 0.99 4564660 BBG00PZFJPC3 144818
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.99 4546000 BBG01922X0X9 91084
INVESCO OPTIMUM YIELD DIVERS PDBC 0.97 4456150 N/A 342517
META PLATFORMS INC META 0.87 4017020 BBG000MM2P62 5136
NETFLIX INC NFLX 0.72 3332360 BBG000CL9VN6 2708
Tesla Inc. TSLA 0.71 3270900 BBG000N9MNX3 9747
ALPHABET INC-CL A GOOGL 0.69 3157340 BBG009S39JX6 15558
ALPHABET INC-CL C GOOG 0.64 2962520 BBG009S3NB30 14535
COSTCO WHOLESALE CORP COST 0.60 2782790 BBG000F6H8W8 2853
Palantir Technologies Inc. Class A PLTR 0.56 2591480 BBG000N7QR55 14316
ADVANCED MICRO DEVICES INC AMD 0.41 1876630 BBG000BBQCY0 10371
AUTOMATIC DATA PROCESSING ADP 0.41 1883090 BBG000JG0547 6242
T-MOBILE US INC TMUS 0.39 1803980 BBG000NDV1D4 7207
CISCO SYSTEMS INC CSCO 0.38 1749270 BBG000C3J3C9 25242
REALTY INCOME CORP O 0.34 1572470 BBG000DHPN63 27196
LINDE PLC LIN 0.31 1449610 BBG01FND0CC1 3035
PEPSICO INC PEP 0.29 1351850 BBG000DH7JK6 9096
INTUIT INC INTU 0.28 1297630 BBG000BH5DV1 1826
STANLEY BLACK & DECKER INC SWK 0.27 1230460 BBG000BTQR96 16534
ABBVIE INC ABBV 0.26 1190830 BBG0025Y4RY4 5818
TEXAS INSTRUMENTS INC TXN 0.26 1206430 BBG000BVV7G1 6228
QUALCOMM INC QCOM 0.26 1208440 BBG000CGC1X8 7644
C.H. ROBINSON WORLDWIDE INC CHRW 0.26 1205720 BBG000BTCH57 9922
FRANKLIN RESOURCES INC BEN 0.26 1196610 BBG000BD0TF8 46688
T ROWE PRICE GROUP INC TROW 0.26 1201400 BBG000BVMPN3 11016
Kimberly-Clark Corp KMB 0.26 1202780 BBG000BMW2Z0 9017
PPG INDUSTRIES INC PPG 0.26 1192160 BBG000BRJ809 10649
BOOKING HOLDINGS INC BKNG 0.25 1157290 BBG000BLBVN4 211
SHOPIFY INC - CLASS A SHOP 0.25 1163250 BBG008HBD923 8063
HORMEL FOODS CORP HRL 0.25 1138140 BBG000BLF8D2 40217
J M Smucker Co COM STK NPV SJM 0.25 1159560 BBG000BT1715 10509
MEDTRONIC PLC MDT 0.25 1139170 BBG000BNWG87 12385
TARGET CORP TGT 0.25 1163220 BBG000H8TVT2 11158
ILLINOIS TOOL WORKS ITW 0.25 1161520 BBG000BMBL90 4425
INTUITIVE SURGICAL INC ISRG 0.24 1109210 BBG000BJPDZ1 2325
CHEVRON CORP CVX 0.24 1094960 BBG000K4ND22 7057
AMCOR PLC AMCR 0.23 1054650 BBG00LNJRQ09 120394
PROLOGIS INC PLD 0.23 1066230 BBG000B9Z0J8 10073
WELLTOWER INC WELL 0.23 1060800 BBG000BKY1G5 6553
APPLIED MATERIALS INC AMAT 0.22 1000680 BBG000BBPFB9 5316
AMGEN INC AMGN 0.22 1007600 BBG000BBS2Y0 3471
ADOBE SYSTEMS INC ADBE 0.21 976373 BBG000BB5006 2801
LAM RESH CORP LRCX 0.20 931844 BBG000BNFLM9 8678
MICRON TECHNOLOGY INC MU 0.20 931281 BBG000C5Z1S3 7433
GILEAD SCIENCES INC GILD 0.20 938473 BBG000CKGBP2 7885
HONEYWELL INTERNATIONAL INC HON 0.19 884126 BBG000H556T9 4073
KLA CORPORATION KLAC 0.18 826430 BBG000BMTFR4 865
EQUINIX INC EQIX 0.18 835074 BBG000MBDGM6 1077
APPLOVIN CORP APP 0.17 803412 BBG006HFPX77 1854
COMCAST CORP-CLASS A CMCSA 0.17 763050 BBG000BFT2L4 23193
PALO ALTO NETWORKS INC PANW 0.17 805966 BBG0014GJCT9 4644
AO Smith Corp AOS 0.17 789235 BBG000BC1L02 10883
SYNOPSYS INC SNPS 0.16 740686 BBG000BSFRF3 1201.71
CINCINNATI FINANCIAL CORP CINF 0.16 747473 BBG000BFPK65 4849
ANALOG DEVICES INC ADI 0.16 748313 BBG000BB6G37 3168
MERCADOLIBRE INC MELI 0.16 751615 BBG000GQPB11 324
Crowdstrike Holdings Inc. Class A CRWD 0.15 670854 BBG00BLYKS03 1579
INTEL CORP INTC 0.15 691988 BBG000C0G1D1 29002
STARBUCKS CORP SBUX 0.15 675532 BBG000CTQBF3 7307
International Business Machines Corporation IBM 0.15 669124 BBG000BLNNH6 2822
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 648346 BBG00CMNZNK7 648346
CONSTELLATION ENERGY CORPORATION CEG 0.14 633500 BBG014KFRNP7 1942
DOORDASH INC CLASS A DASH 0.14 627260 BBG005D7QCJ3 2535
CONSOLIDATED EDISON INC ED 0.14 633515 BBG000BHLYS1 6159
EVERSOURCE ENERGY ES 0.14 629944 BBG000BQ87N0 9616
VERTEX PHARMACEUTICALS INC VRTX 0.14 645166 BBG000C1S2X2 1653
DIGITAL REALTY TRUST INC DLR 0.13 592408 BBG000Q5ZRM7 3564
SIMON PROPERTY GROUP INC SPG 0.13 615063 BBG000BJ2D31 3572
CINTAS CORP CTAS 0.13 582098 BBG000H3YXF8 2635
MICROSTRATEGY INC-CL A MSTR 0.13 579549 BBG000GQJPZ0 1554
CADENCE DESIGN SYS INC CDNS 0.13 601538 BBG000C13CD9 1724
GENUINE PARTS CO GPC 0.12 530139 BBG000BKL348 3848
PUBLIC STORAGE PSA 0.12 560656 BBG000BPPN67 1996
MONDELEZ INTERNATIONAL INC-A MDLZ 0.12 553324 BBG000D4LWF6 9003
OREILLY AUTOMOTIVE INC ORLY 0.12 541198 BBG000BGYWY6 5332
THOMSON REUTERS CORP COMMON STOCK TRI 0.11 491012 N/A 2926
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.11 485924 BBG00LBLDDR2 4235
Marriott International, Inc Class A MAR 0.11 500048 BBG000BGD7W6 1876
PAYPAL HOLDINGS INC PYPL 0.10 445766 BBG0077VNXV6 6425
MCDONALDS CORP MCD 0.10 463734 BBG000BNSZP1 1501
CSX CORP CSX 0.10 438708 BBG000BGJRC8 12069
SCHLUMBERGER LTD SLB 0.10 450463 BBG000BT41Q8 13560
Cheniere Energy Inc LNG 0.10 446417 BBG000C3HSR0 1919
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.10 449126 BBG000BRK7L6 11519
EQT CORP EQT 0.10 442061 BBG000BHZ5J9 8493
OCCIDENTAL PETROLEUM CORP OXY 0.10 459698 BBG000BQQ2S6 10268
AIR PRODUCTS & CHEMICALS INC APD 0.10 459291 BBG000BC4JJ4 1572
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.09 396307 BBG00ZXBJ153 5014
VICI PROPERTIES INC REIT VICI 0.09 404821 BBG00HVVB499 12414
MARATHON PETROLEUM CORP MPC 0.09 433070 BBG001DCCGR8 2668
ASML HOLDING NV-NY REG SHS ASML 0.09 435756 BBG000K6MRN4 577
EXTRA SPACE STORAGE INC EXR 0.09 407977 BBG000PV27K3 2986
WILLIAMS COMPANIES INC. WMB 0.09 434236 BBG000BWVCP8 7573
EXXON MOBIL CORP XOM 0.09 431305 BBG000GZQ728 4054
CANADIAN NATURAL RESOURCES CNQ 0.09 425997 BBG000HW5GX3 14300
NXP Semiconductors NV NXPI 0.08 387598 BBG000BND699 1674
AXON ENTERPRISE INC AXON 0.08 358419 BBG000BHJWG1 478
AUTODESK INC ADSK 0.08 356958 BBG000BM7HL0 1258
IDEXX LABS IDXX 0.08 379291 BBG000BLRT07 580
FASTENAL CO FAST 0.08 380366 BBG000BJ8YN7 7812
FORTINET INC FTNT 0.08 377444 BBG000BCMBG4 4886
AMERICAN ELECTRIC POWER AEP 0.08 371987 BBG000BB9KF2 3296
MONSTER BEVERAGE CORP MNST 0.08 386484 BBG008NVB1C0 6020
ROPER TECHNOLOGIES INC ROP 0.08 386896 BBG000F1ZSN5 737
Ventas Inc. VTR 0.08 364392 BBG000FRVHB9 5396
AVALONBAY COMMUNITIES INC AVB 0.08 365198 BBG000BLPBL5 1929
REGENERON PHARMACEUTICALS REGN 0.08 368446 BBG000C734W3 651
AIRBNB INC ABNB 0.07 341514 BBG001Y2XS07 2740
KEURIG DR PEPPER INC KDP 0.07 338197 BBG000TJM7F0 9766
WORKDAY INC-CLASS A WDAY 0.07 300702 BBG000VC0T95 1355
PAYCHEX INC PAYX 0.07 343038 BBG000BQSQ38 2495
CLOROX COMPANY CLX 0.07 305166 BBG000BFS7D3 2510
EQUITY RESIDENTIAL EQR 0.07 328093 BBG000BG8M31 5166
IRON MOUNTAIN INC IRM 0.07 338911 BBG000KCZPC3 3708
PACCAR INC PCAR 0.07 326784 BBG000BQVTF5 3278
Datadog Inc. Class A DDOG 0.06 278427 BBG003NJHZT9 2236
Baker Hughes Company BKR 0.06 259240 BBG00GBVBK51 5994
INVITATION HOMES INC REIT USD.01 INVH 0.06 265020 BBG00FQH6BS9 8761
COPART INC CPRT 0.06 294796 BBG000BM9RH1 6291
VERISK ANALYTICS INC VRSK 0.06 264220 BBG000BCZL41 987
ROSS STORES INC ROST 0.06 296529 BBG000BSBZH7 2012
ASTRAZENECA PLC-SPONS ADR AZN 0.06 284611 BBG000BZ0DK8 3627
EXELON CORP EXC 0.06 272097 BBG000J6XT05 6094
XCEL ENERGY INC XEL 0.06 261256 BBG000BCTQ65 3609
DIAMONDBACK ENERGY INC FANG 0.06 256201 BBG002PHSYX9 1820
CHARTER COMMUNICATIONS INC-A CHTR 0.06 262147 BBG000VPGNR2 996
ELECTRONIC ARTS INC EA 0.06 264756 BBG000BP0KQ8 1479
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.06 262538 BBG000BS1YV5 1126
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.05 232545 BBG01BFR8YV1 3157
Zscaler Inc. ZS 0.05 241181 BBG003338H34 890
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 250375 BBG00B6BFWH9 2762
COSTAR GROUP INC CSGP 0.05 250363 BBG000D7JKW9 2846
Old Dominion Freight Line Inc. ODFL 0.05 214425 BBG000CHSS88 1419
MICROCHIP TECHNOLOGY INC MCHP 0.05 218757 BBG000BHCP19 3315
MID-AMERICA APARTMENT COMM MAA 0.05 218447 BBG000BLMY92 1560
ESSEX PROPERTY TRUST INC ESS 0.05 220588 BBG000CGJMB9 861
KRAFT HEINZ CO/THE KHC 0.05 243292 BBG005CPNTQ2 8799
DEXCOM INC DXCM 0.05 213893 BBG000QTF8K1 2675
COGNIZANT TECH SOLUTIONS-A CTSH 0.05 215463 BBG000BBDV81 3106
ATLASSIAN CORP PLC-CLASS A TEAM 0.04 190199 BBG01BGWHFR5 1157
Warner Bros Discovery Inc WBD 0.04 203358 BBG011386VF4 17263
Sun Communities Inc SUI 0.04 202137 BBG000BLJWF3 1589
Alexandria Real Estate Equitie ARE 0.04 173981 BBG000BC33T9 2335
KIMCO REALTY CORP KIM 0.04 176855 BBG000CN3S73 8358
W. P. CAREY REIT INC WPC 0.04 183742 BBG000BCQM58 2819
ARM HOLDINGS PLC ARM 0.03 133241 BBG01J1GXZF0 948
GLOBALFOUNDRIES INC GFS 0.03 119028 BBG000C2L5G9 3596
TRADE DESK INC/THE -CLASS A TTD 0.03 130910 BBG00629NGT2 2579
CDW CORP/DE CDW 0.03 127889 BBG001P63B80 770
LULULEMON ATHLETICA INC LULU 0.03 130582 BBG000R8ZVD1 669
BIOGEN INC BIIB 0.03 142362 BBG000C17X76 1055
ON Semiconductor Corporation ON 0.02 104014 BBG000DV7MX4 2015
KENVUE INC KVUE 0.00 84.24 BBG01C79X561 4
ALBEMARLE CORP ALB 0.00 407.15 BBG000BJ26K7 5
UDR INC UDR 0.00 228.42 BBG000C41023 6
JOHNSON & JOHNSON JNJ 0.00 349.44 BBG000BMHYD1 2
Cash & Other Cash&Other 0.00 -1254.45 N/A -1254.45

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.