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 04/06/2026
TICKER RAA
NET ASSETS $542M
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 $27.88
30 DAY MEDIAN BID-ASK SPREAD 0.000728

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 1.99% 0.22% 5.06% 2.57% 4.84% - 17.62% 12.32%
RAA - Market Price 1.98% 0.23% 5.04% 2.59% 4.80% - 17.60% 12.36%
S&P 500 Index Total Return -0.76% 0.06% 0.74% 2.65% 0.68% - 16.88% 16.19%
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 04/06/2026

NET ASSET VALUE

$27.88

CLOSING PRICE

$27.88

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 3
Discount 5 13 16 8 0

Asset Allocation

As of 4/6/2026

Equities

47.19%
Nasdaq
20.81%
US Large Cap
16.98%
Dividend Payers
2.35%
Japan
2.02%
Emerging Ex. China
2.01%
US Small Cap
2.01%
Europe
1.01%

Fixed Income

28.16%
High Yield
6.91%
Corporate Bonds
5.91%
TIPS
3.95%
Emerging Mkt Bonds
3.94%
Long Term Treasuries
3.93%
T-Bills
3.52%

Alternatives

24.65%
Managed Futures
7.80%
Commodities
5.01%
Miners
3.01%
Energy
2.96%
Gold
2.96%
Bitcoin
2.02%
Real Estate
0.89%

Holdings

As of 04/06/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 16.98 91986200 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.80 42230900 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.91 37442100 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.91 31987800 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 5.01 27135200 N/A 1546170
SCHWAB U.S. TIPS ETF SCHP 3.95 21398900 BBG000BGN6P5 802359
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.94 21337900 BBG000NXKWH0 227144
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.93 21292900 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.96 16052400 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.96 16040300 BBG01922X0X9 321577
Franklin FTSE Japan ETF FLJP 2.02 10938200 BBG00J3MDY16 297962
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.02 10925100 N/A 354135
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 10907500 BBG00H5VLMJ6 137391
VANGUARD SMALL-CAP ETF VB 2.01 10879500 BBG000HT3Z79 40976
NVIDIA CORP NVDA 1.81 9815500 BBG000BBJQV0 55255
APPLE INC AAPL 1.62 8792700 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.16 6297570 BBG000BPH459 16889
Franklin FTSE Europe ETF FLEE 1.01 5454720 BBG00J3PR1S7 148061
AMAZON.COM INC AMZN 0.94 5115680 BBG000BVPV84 24041
Tesla Inc. TSLA 0.74 4031670 BBG000N9MNX3 11427
WAL-MART STORES INC WMT 0.74 4004160 BBG000BWXBC2 31581
ALPHABET INC-CL A GOOGL 0.73 3932270 BBG009S39JX6 13108
META PLATFORMS INC META 0.68 3667330 BBG000MM2P62 6400
ALPHABET INC-CL C GOOG 0.67 3647230 BBG009S3NB30 12253
Broadcom Inc. AVGO 0.63 3433890 BBG00KHY5S69 10921
BHP GROUP LTD BHP 0.61 3286910 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.55 2989220 BBG000C5Z1S3 7913
COSTCO WHOLESALE CORP COST 0.54 2908980 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.49 2650140 BBG000CL9VN6 26788
ADVANCED MICRO DEVICES INC AMD 0.43 2323780 BBG000BBQCY0 10554
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.40 2140550 BBG000N7QR55 14470
CISCO SYSTEMS INC CSCO 0.39 2135070 BBG000C3J3C9 26544
NEWMONT GOLDCORP CORPORATION COM NEM 0.39 2119960 BBG000BPWXK1 18789
CHEVRON CORP CVX 0.36 1962350 BBG000K4ND22 9868
RIO TINTO PLC-SPON ADR RIO 0.36 1950900 BBG000FD28T3 20752
APPLIED MATERIALS INC AMAT 0.34 1825510 BBG000BBPFB9 5177
LAM RESH CORP LRCX 0.33 1795650 BBG000BNFLM9 8138
INTEL CORP INTC 0.30 1633740 BBG000C0G1D1 32173
CANADIAN NATURAL RESOURCES CNQ 0.30 1622020 BBG000HW5GX3 33617
OCCIDENTAL PETROLEUM CORP OXY 0.30 1599560 BBG000BQQ2S6 25406
Cheniere Energy Inc LNG 0.30 1631020 BBG000C3HSR0 5742
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.30 1648100 BBG000BRK7L6 24941
WILLIAMS COMPANIES INC. WMB 0.30 1621730 BBG000BWVCP8 22341
MARATHON PETROLEUM CORP MPC 0.30 1606030 BBG001DCCGR8 6653
SCHLUMBERGER LTD SLB 0.29 1555580 BBG000BT41Q8 31249
EXXON MOBIL CORP XOM 0.29 1574070 BBG000GZQ728 9635
AGNICO EAGLE MINES LTD AEM 0.29 1597110 BBG000DLVDK3 7660
EQT CORP EQT 0.28 1540740 BBG000BHZ5J9 25509
LINDE PLC LIN 0.28 1499410 BBG01FND0CC1 3002
PEPSICO INC PEP 0.26 1385180 BBG000DH7JK6 8838
FREEPORT-MCMORAN INC FCX 0.26 1399020 BBG000BJDB15 22916
T-MOBILE US INC TMUS 0.26 1429590 BBG000NDV1D4 7198
GLENCORE PLC -UNSP ADR GLNCY 0.24 1322550 BBG001VKX1Z1 88702
KLA CORPORATION KLAC 0.24 1312130 BBG000BMTFR4 852
AMGEN INC AMGN 0.22 1193170 BBG000BBS2Y0 3483
TEXAS INSTRUMENTS INC TXN 0.21 1164210 BBG000BVV7G1 5838
Barrick Mining Corp. B 0.21 1135940 N/A 27652
GILEAD SCIENCES INC GILD 0.20 1105070 BBG000CKGBP2 7886
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.20 1061370 BBG00CMNZNK7 1061370
Simplify DBi CTA Managed Futures Index ETF SDMF 0.20 1073070 BBG020BR8WR7 42454
AUTOMATIC DATA PROCESSING ADP 0.20 1061750 BBG000JG0547 5196
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1040400 BBG000PVRDL2 7759
INTUITIVE SURGICAL INC ISRG 0.19 1024190 BBG000BJPDZ1 2263
ANALOG DEVICES INC ADI 0.19 1015470 BBG000BB6G37 3102
HONEYWELL INTERNATIONAL INC HON 0.17 932922 BBG000H556T9 4088
SHOPIFY INC - CLASS A SHOP 0.17 900979 BBG008HBD923 7584
FRANCO-NEVADA CORP FNV 0.17 942967 BBG000RD3CL8 3677
QUALCOMM INC QCOM 0.16 871812 BBG000CGC1X8 6934
BOOKING HOLDINGS INC BKNG 0.16 880950 BBG000BLBVN4 5000
REALTY INCOME CORP O 0.15 800451 BBG000DHPN63 12946
PALO ALTO NETWORKS INC PANW 0.15 792421 BBG0014GJCT9 4893
VALE SA-SP ADR VALE 0.15 814118 BBG000BN5LG7 50441
APPLOVIN CORP APP 0.15 795647 BBG006HFPX77 1928
Cash & Other Cash&Other 0.14 752968 N/A 752968
ASML HOLDING NV-NY REG SHS ASML 0.14 738070 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 771192 N/A 34864
WESTERN DIGITAL CORP WDC 0.13 686771 BBG000BWNFZ9 2258
CONSTELLATION ENERGY CORPORATION CEG 0.13 702759 BBG014KFRNP7 2554
VERTEX PHARMACEUTICALS INC VRTX 0.13 699657 BBG000C1S2X2 1611
WELLTOWER INC WELL 0.13 704390 BBG000BKY1G5 3506
INTUIT INC INTU 0.13 725372 BBG000BH5DV1 1738
STARBUCKS CORP SBUX 0.13 677961 BBG000CTQBF3 7153
COMCAST CORP-CLASS A CMCSA 0.12 637120 BBG000BFT2L4 23034
ADOBE SYSTEMS INC ADBE 0.12 631413 BBG000BB5006 2584
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 635073 BBG0113JGQF0 1401
PROLOGIS INC PLD 0.12 640045 BBG000B9Z0J8 4836
Crowdstrike Holdings Inc. Class A CRWD 0.11 615852 BBG00BLYKS03 1545
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 598910 BBG00ZXBJ153 5469
KENVUE INC KVUE 0.10 539933 BBG01C79X561 31210
Kimberly-Clark Corp KMB 0.10 541980 BBG000BMW2Z0 5588
HORMEL FOODS CORP HRL 0.10 516005 BBG000BLF8D2 23605
MEDTRONIC PLC MDT 0.10 533297 BBG000BNWG87 6181
Marriott International, Inc Class A MAR 0.10 565474 BBG000BGD7W6 1673
CLOROX COMPANY CLX 0.10 546162 BBG000BFS7D3 5207
FRANKLIN RESOURCES INC BEN 0.10 531648 BBG000BD0TF8 22720
EVERSOURCE ENERGY ES 0.10 540382 BBG000BQ87N0 7782
STANLEY BLACK & DECKER INC SWK 0.10 515560 BBG000BTQR96 7584
ILLINOIS TOOL WORKS ITW 0.10 534020 BBG000BMBL90 2066
T ROWE PRICE GROUP INC TROW 0.10 526779 BBG000BVMPN3 5897
MERCADOLIBRE INC MELI 0.10 525084 BBG000GQPB11 307
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 546822 N/A 13735.8
AO Smith Corp AOS 0.09 508320 BBG000BC1L02 7859
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 493194 BBG000D4LWF6 8448
GENUINE PARTS CO GPC 0.09 472860 BBG000BKL348 4497
CADENCE DESIGN SYS INC CDNS 0.09 497873 BBG000C13CD9 1782
EQUINIX INC EQIX 0.09 496863 BBG000MBDGM6 489
PPG INDUSTRIES INC PPG 0.09 461138 BBG000BRJ809 4440
REGENERON PHARMACEUTICALS REGN 0.09 488346 BBG000C734W3 640
MONSTER BEVERAGE CORP MNST 0.09 477368 BBG008NVB1C0 6437
CSX CORP CSX 0.09 492865 BBG000BGJRC8 11882
SYNOPSYS INC SNPS 0.09 472116 BBG000BSFRF3 1189
OREILLY AUTOMOTIVE INC ORLY 0.09 494554 BBG000BGYWY6 5368
AMERICAN ELECTRIC POWER AEP 0.09 467231 BBG000BB9KF2 3530
Warner Bros Discovery Inc WBD 0.08 439574 BBG011386VF4 16037
J M Smucker Co COM STK NPV SJM 0.08 410398 BBG000BT1715 4310
ROSS STORES INC ROST 0.08 459232 BBG000BSBZH7 2076
ABBVIE INC ABBV 0.08 423921 BBG0025Y4RY4 2051
CINTAS CORP CTAS 0.08 435062 BBG000H3YXF8 2534
International Business Machines Corporation IBM 0.08 408601 BBG000BLNNH6 1656
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 432097 BBG00LBLDDR2 4282
PACCAR INC PCAR 0.07 393414 BBG000BQVTF5 3325
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 365809 BBG000C30L48 310
Baker Hughes Company BKR 0.07 405415 BBG00GBVBK51 6679
DOORDASH INC CLASS A DASH 0.07 399150 BBG005D7QCJ3 2574
FORTINET INC FTNT 0.07 384788 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 375081 BBG000Q5ZRM7 2061
DIAMONDBACK ENERGY INC FANG 0.07 370279 BBG002PHSYX9 1906
SIMON PROPERTY GROUP INC SPG 0.07 381411 BBG000BJ2D31 2005
XCEL ENERGY INC XEL 0.06 320756 BBG000BCTQ65 3990
PUBLIC STORAGE PSA 0.06 333978 BBG000BPPN67 1189
FASTENAL CO FAST 0.06 333934 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 327702 BBG000J6XT05 6696
IDEXX LABS IDXX 0.06 299114 BBG000BLRT07 518
AIRBNB INC ABNB 0.06 337441 BBG001Y2XS07 2661
NXP Semiconductors NV NXPI 0.06 316905 BBG000BND699 1608
AUTODESK INC ADSK 0.06 311651 BBG000BM7HL0 1311
FERROVIAL SE FER 0.06 298914 BBG01H7CZ9S9 4516
ELECTRONIC ARTS INC EA 0.06 327268 BBG000BP0KQ8 1603
Ventas Inc. VTR 0.05 270583 BBG000FRVHB9 3262
PAYPAL HOLDINGS INC PYPL 0.05 258690 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 270719 BBG000CHSS88 1339
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 259626 N/A 2865
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 267906 BBG000BFGNJ5 811
MICROSTRATEGY INC-CL A MSTR 0.05 265978 BBG000GQJPZ0 2083
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 277228 BBG00B6BFWH9 2972
INSMED INC INSM 0.04 201978 BBG000BWM5P3 1233
PAYCHEX INC PAYX 0.04 211071 BBG000BQSQ38 2298
ROPER TECHNOLOGIES INC ROP 0.04 239887 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 224918 BBG000BHCP19 3346
CINCINNATI FINANCIAL CORP CINF 0.04 224376 BBG000BFPK65 1402
AXON ENTERPRISE INC AXON 0.04 216449 BBG000BHJWG1 524
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 193784 BBG000BBDV81 3108
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 222456 BBG000BS1YV5 1131
KEURIG DR PEPPER INC KDP 0.04 232200 BBG000TJM7F0 9035
VICI PROPERTIES INC REIT VICI 0.04 215748 BBG00HVVB499 7800
EXTRA SPACE STORAGE INC EXR 0.04 219992 BBG000PV27K3 1641
COPART INC CPRT 0.04 199799 BBG000BM9RH1 6084
AVALONBAY COMMUNITIES INC AVB 0.04 219740 BBG000BLPBL5 1320
Datadog Inc. Class A DDOG 0.04 241388 BBG003NJHZT9 2072
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 200992 BBG01BFR8YV1 2855
KRAFT HEINZ CO/THE KHC 0.03 177341 BBG005CPNTQ2 7524
IRON MOUNTAIN INC IRM 0.03 164263 BBG000KCZPC3 1574
EQUITY RESIDENTIAL EQR 0.03 162522 BBG000BG8M31 2706
VERISK ANALYTICS INC VRSK 0.03 163653 BBG000BCZL41 886
CHARTER COMMUNICATIONS INC-A CHTR 0.03 180824 BBG000VPGNR2 822
WORKDAY INC-CLASS A WDAY 0.03 166820 BBG000VC0T95 1286
DEXCOM INC DXCM 0.03 156318 BBG000QTF8K1 2473
CONSOLIDATED EDISON INC ED 0.03 146357 BBG000BHLYS1 1277
Sun Communities Inc SUI 0.02 108408 BBG000BLJWF3 848
AIR PRODUCTS & CHEMICALS INC APD 0.02 108530 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 113396 BBG000D7JKW9 2754
ESSEX PROPERTY TRUST INC ESS 0.02 108745 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 108434 BBG000BGBTC2 2415
Zscaler Inc. ZS 0.02 133242 BBG003338H34 955
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 107006 BBG000B9ZXB4 1046
MID-AMERICA APARTMENT COMM MAA 0.02 108718 BBG000BLMY92 871
KIMCO REALTY CORP KIM 0.02 106505 BBG000CN3S73 4742
MCDONALDS CORP MCD 0.02 106248 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 109759 BBG000BCQM58 1570
INVITATION HOMES INC REIT USD.01 INVH 0.02 109241 BBG00FQH6BS9 4289
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 66660.1 BBG01BGWHFR5 979
ASTRAZENECA PLC AZNCF 0.00 608.49 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.