RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

How to Buy
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 07/21/2026
TICKER RAA
NET ASSETS $597M
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 $29.61
30 DAY MEDIAN BID-ASK SPREAD 0.000682

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/21/2026

NET ASSET VALUE

$29.61

CLOSING PRICE

$29.62

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 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 7
Discount 13 16 8 14 4

Asset Allocation

As of 7/21/2026

Equities

40.10%
Nasdaq
15.60%
US Large Cap
9.98%
Dividend Payers
3.93%
Emerging Ex. China
3.70%
US Small Cap
2.92%
Europe
1.99%
Japan
1.98%

Fixed Income

26.51%
High Yield
5.97%
Corporate Bonds
5.91%
Long Term Treasuries
5.81%
Emerging Mkt Bonds
3.94%
TIPS
2.95%
T-Bills
1.93%

Alternatives

33.39%
Commodities
7.73%
Managed Futures
7.11%
Miners
5.86%
Energy
4.34%
Gold
4.05%
Bitcoin
2.25%
Real Estate
2.05%

Holdings

As of 07/21/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.98 59566500 BBG00RYR67P4 1246420
INVESCO OPTIMUM YIELD DIVERS PDBC 7.73 46131200 N/A 2613670
SCHWAB HIGH YIELD BOND ETF SCYB 5.97 35621700 BBG01F80WX71 1367440
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.91 35261900 BBG000PWYVH7 432502
iM DBi Managed Futures Strategy ETF DBMF 5.89 35169500 N/A 1122910
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.81 34697600 BBG00PZFJPC3 1141370
SPROTT PHYSICAL GOLD TRUS PHYS 4.05 24185400 BBG000Q83F79 784221
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.94 23488100 BBG000NXKWH0 246258
ISHARES MSCI EMR MRK EX CHNA EMXC 3.70 22074000 BBG00H5VLMJ6 232358
SCHWAB U.S. TIPS ETF SCHP 2.95 17629400 BBG000BGN6P5 673390
VANGUARD SMALL-CAP ETF VB 2.92 17448200 BBG000HT3Z79 58748
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.25 13451200 N/A 457836
Franklin FTSE Europe ETF FLEE 1.99 11858100 BBG00J3PR1S7 306410
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 11863900 BBG01922X0X9 237467
Franklin FTSE Japan ETF FLJP 1.98 11787900 BBG00J3MDY16 298276
NVIDIA CORP NVDA 1.25 7431550 BBG000BBJQV0 35851
BHP GROUP LTD BHP 1.24 7415200 BBG000BD5NZ4 88858
Simplify DBi CTA Managed Futures Index ETF SDMF 1.22 7288130 BBG020BR8WR7 279936
APPLE INC AAPL 1.19 7082130 BBG000B9XRY4 21609
MICRON TECHNOLOGY INC MU 0.76 4530820 BBG000C5Z1S3 4667
MICROSOFT CORP MSFT 0.74 4419000 BBG000BPH459 11110
AMAZON.COM INC AMZN 0.68 4030110 BBG000BVPV84 16280
NEWMONT GOLDCORP CORPORATION COM NEM 0.67 3988260 BBG000BPWXK1 43121
RIO TINTO PLC-SPON ADR RIO 0.65 3854350 BBG000FD28T3 42566
CHEVRON CORP CVX 0.58 3468880 BBG000K4ND22 18155
ADVANCED MICRO DEVICES INC AMD 0.58 3460400 BBG000BBQCY0 6356
FREEPORT-MCMORAN INC FCX 0.53 3173480 BBG000BJDB15 50727
ALPHABET INC-CL A GOOGL 0.51 3016390 BBG009S39JX6 8689
META PLATFORMS INC META 0.49 2895210 BBG000MM2P62 4497
MARATHON PETROLEUM CORP MPC 0.49 2910780 BBG001DCCGR8 9103
GLENCORE PLC -UNSP ADR GLNCY 0.48 2878270 BBG001VKX1Z1 205005
Tesla Inc. TSLA 0.47 2821130 BBG000N9MNX3 7445
Suncor Energy Inc. SU 0.47 2784200 BBG000BC1LY5 43708
AGNICO EAGLE MINES LTD AEM 0.47 2794300 BBG000DLVDK3 19731
ALPHABET INC-CL C GOOG 0.47 2821450 BBG009S3NB30 8150
Broadcom Inc. AVGO 0.46 2732560 BBG00KHY5S69 7070
CANADIAN NATURAL RESOURCES CNQ 0.45 2674600 BBG000HW5GX3 59568
OCCIDENTAL PETROLEUM CORP OXY 0.45 2709120 BBG000BQQ2S6 47949
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.44 2634600 BBG023CY9MM1 17366
Cheniere Energy Inc LNG 0.43 2553690 BBG000C3HSR0 9725
SCHLUMBERGER LTD SLB 0.40 2374270 BBG000BT41Q8 50961
WILLIAMS COMPANIES INC. WMB 0.39 2301890 BBG000BWVCP8 31378
WAL-MART STORES INC WMT 0.38 2258910 BBG000BWXBC2 20463
Barrick Mining Corp ABX 0.38 2239740 N/A 61582
EQT CORP EQT 0.37 2201310 BBG000BHZ5J9 44203
INTEL CORP INTC 0.35 2068820 BBG000C0G1D1 19619
NUCOR CORP NUE 0.32 1916440 BBG000BQ8KV2 8218
CISCO SYSTEMS INC CSCO 0.31 1835040 BBG000C3J3C9 16358
REALTY INCOME CORP O 0.31 1868400 BBG000DHPN63 28749
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.31 1875300 N/A 79428
APPLIED MATERIALS INC AMAT 0.30 1767040 BBG000BBPFB9 3130
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.30 1812360 BBG000PVRDL2 16482
COSTCO WHOLESALE CORP COST 0.29 1733000 BBG000F6H8W8 1865
AUTOMATIC DATA PROCESSING ADP 0.29 1720830 BBG000JG0547 6989
WELLTOWER INC WELL 0.27 1627770 BBG000BKY1G5 6607
LAM RESH CORP LRCX 0.27 1609360 BBG000BNFLM9 4998
FRANCO-NEVADA CORP FNV 0.26 1543260 BBG000TRN6Z1 7441
PROLOGIS INC PLD 0.26 1552630 BBG000B9Z0J8 10355
VALE SA-SP ADR VALE 0.25 1512740 BBG000BN5LG7 106157
MEDTRONIC PLC MDT 0.21 1235170 BBG000BNWG87 14999
NETFLIX INC NFLX 0.21 1226240 BBG000CL9VN6 17857
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1236520 BBG000N7QR55 9321
KENVUE INC KVUE 0.20 1180980 BBG01C79X561 62124
Kimberly-Clark Corp KMB 0.20 1166830 BBG000BMW2Z0 10799
HORMEL FOODS CORP HRL 0.20 1176810 BBG000BLF8D2 46866
CLOROX COMPANY CLX 0.20 1198230 BBG000BFS7D3 12522
PALO ALTO NETWORKS INC PANW 0.20 1185210 BBG0014GJCT9 3464
ILLINOIS TOOL WORKS ITW 0.20 1202740 BBG000BMBL90 4422
T ROWE PRICE GROUP INC TROW 0.20 1215620 BBG000BVMPN3 10336
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1189470 N/A 27382
EQUINIX INC EQIX 0.19 1130670 BBG000MBDGM6 1100
FRANKLIN RESOURCES INC BEN 0.19 1147600 BBG000BD0TF8 35170
EVERSOURCE ENERGY ES 0.19 1143740 BBG000BQ87N0 15657
KLA CORPORATION KLAC 0.19 1113910 BBG000BMTFR4 5120
STANLEY BLACK & DECKER INC SWK 0.19 1106260 BBG000BTQR96 12544
TEXAS INSTRUMENTS INC TXN 0.18 1065580 BBG000BVV7G1 3658
GENUINE PARTS CO GPC 0.17 1024910 BBG000BKL348 8604
ABBVIE INC ABBV 0.17 1001090 BBG0025Y4RY4 3909
AO Smith Corp AOS 0.16 946389 BBG000BC1L02 16106
PPG INDUSTRIES INC PPG 0.16 951368 BBG000BRJ809 8222
LINDE PLC LIN 0.16 956527 BBG01FND0CC1 1894
J M Smucker Co COM STK NPV SJM 0.15 878542 BBG000BT1715 7590
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 890938 BBG0113JGQF0 999
SANDISK CORP/DE SNDKV SNDK 0.15 910726 BBG01R388JG1 573
T-MOBILE US INC TMUS 0.15 883265 BBG000NDV1D4 4630
WESTERN DIGITAL CORP WDC 0.14 843972 BBG000BWNFZ9 1539
AMGEN INC AMGN 0.14 826237 BBG000BBS2Y0 2256
Crowdstrike Holdings Inc. Class A CRWD 0.14 823092 BBG00BLYKS03 4306
SIMON PROPERTY GROUP INC SPG 0.14 840257 BBG000BJ2D31 3705
PEPSICO INC PEP 0.13 787185 BBG000DH7JK6 5831
QUALCOMM INC QCOM 0.13 761144 BBG000CGC1X8 4387
International Business Machines Corporation IBM 0.13 767483 BBG000BLNNH6 3646
ANALOG DEVICES INC ADI 0.13 769448 BBG000BB6G37 2010
Ventas Inc. VTR 0.12 722583 BBG000FRVHB9 7402
DIGITAL REALTY TRUST INC DLR 0.12 724054 BBG000Q5ZRM7 4038
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 700201 BBG00ZXBJ153 3367
ASML HOLDING NV-NY REG SHS ASML 0.12 706192 BBG000K6MRN4 392
PUBLIC STORAGE PSA 0.11 684548 BBG000BPPN67 2210
GILEAD SCIENCES INC GILD 0.11 674720 BBG000CKGBP2 5179
SHOPIFY INC - CLASS A SHOP 0.11 669037 BBG004DW5NB8 5438
INTUITIVE SURGICAL INC ISRG 0.10 575499 BBG000BJPDZ1 1644
IRON MOUNTAIN INC IRM 0.10 567908 BBG000KCZPC3 4523
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 601922 BBG000BBTJZ1 2789
BOOKING HOLDINGS INC BKNG 0.10 585382 BBG000BLBVN4 3263
VERTEX PHARMACEUTICALS INC VRTX 0.09 561530 BBG000C1S2X2 1165
FORTINET INC FTNT 0.09 511137 BBG000BCMBG4 3233
APPLOVIN CORP APP 0.09 529003 BBG006HFPX77 1234
ARM HOLDINGS PLC ARM 0.08 488195 BBG01J1GXZF0 1685
Marriott International, Inc Class A MAR 0.08 453510 BBG000BGD7W6 1233
EXTRA SPACE STORAGE INC EXR 0.08 466051 BBG000PV27K3 3202
STARBUCKS CORP SBUX 0.08 498122 BBG000CTQBF3 4769
VICI PROPERTIES INC REIT VICI 0.08 468552 BBG00HVVB499 17628
AVALONBAY COMMUNITIES INC AVB 0.08 448409 BBG000BLPBL5 2352
CADENCE DESIGN SYS INC CDNS 0.07 428388 BBG000C13CD9 1243
FASTENAL CO FAST 0.07 430926 BBG000BJ8YN7 9574
COMCAST CORP-CLASS A CMCSA 0.07 403675 BBG000BFT2L4 16954
EQUITY RESIDENTIAL EQR 0.07 422305 BBG000BG8M31 6184
CONSTELLATION ENERGY CORPORATION CEG 0.07 440792 BBG014KFRNP7 1681
ADOBE SYSTEMS INC ADBE 0.07 402073 BBG000BB5006 1770
MONSTER BEVERAGE CORP MNST 0.07 429887 BBG008NVB1C0 4551
MERCADOLIBRE INC MELI 0.07 421032 BBG000GQPB11 231
CSX CORP CSX 0.07 444570 BBG000BGJRC8 8911
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 332837 BBG022XF4SZ9 1448
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 354730 BBG000D4LWF6 5926
DOORDASH INC CLASS A DASH 0.06 343737 BBG005D7QCJ3 1828
ROSS STORES INC ROST 0.06 336501 BBG000BSBZH7 1427
INTUIT INC INTU 0.06 352253 BBG000BH5DV1 1215
SYNOPSYS INC SNPS 0.06 351719 BBG000BSFRF3 904
CINTAS CORP CTAS 0.06 379777 BBG000H3YXF8 1895
OREILLY AUTOMOTIVE INC ORLY 0.06 347130 BBG000BGYWY6 3946
Datadog Inc. Class A DDOG 0.06 361547 BBG003NJHZT9 1419
AMERICAN ELECTRIC POWER AEP 0.06 336899 BBG000BB9KF2 2582
PACCAR INC PCAR 0.05 309944 BBG000BQVTF5 2455
Warner Bros Discovery Inc WBD 0.05 301669 BBG011386VF4 11679
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 309850 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 299890 BBG000CGJMB9 1020
NXP Semiconductors NV NXPI 0.05 323956 BBG000BND699 1186
AIRBNB INC ABNB 0.05 276960 BBG001Y2XS07 1922
REGENERON PHARMACEUTICALS REGN 0.05 316664 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 312500 BBG00FQH6BS9 10469
LUMENTUM HOLDINGS INC LITE 0.05 278070 BBG0073F9RT7 332
XCEL ENERGY INC XEL 0.04 227107 BBG000BCTQ65 2885
PAYPAL HOLDINGS INC PYPL 0.04 239094 BBG0077VNXV6 4281
MICROCHIP TECHNOLOGY INC MCHP 0.04 210534 BBG000BHCP19 2525
Sun Communities Inc SUI 0.04 239508 BBG000BLJWF3 2012
HOST HOTELS & RESORTS INC HST 0.04 261532 BBG000BL8804 10701
Baker Hughes Company BKR 0.04 257995 BBG00GBVBK51 4576
Old Dominion Freight Line Inc. ODFL 0.04 221877 BBG000CHSS88 945
TERADYNE INC TER 0.04 236393 BBG000BV4DR6 632
EXELON CORP EXC 0.04 225182 BBG000J6XT05 4907
MID-AMERICA APARTMENT COMM MAA 0.04 225866 BBG000BLMY92 1708
KIMCO REALTY CORP KIM 0.04 241608 BBG000CN3S73 9257
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.04 214590 BBG000B9ZXB4 2153
FERROVIAL SA FER 0.04 214918 BBG01H0DF657 3381.88
AUTODESK INC ADSK 0.04 209461 BBG000BM7HL0 992
MCDONALDS CORP MCD 0.04 231449 BBG000BNSZP1 877
DIAMONDBACK ENERGY INC FANG 0.04 261738 BBG002PHSYX9 1310
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 251521 BBG00LBLDDR2 2965
W. P. CAREY REIT INC WPC 0.04 250516 BBG000BCQM58 3330
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 227000 BBG00B6BFWH9 2158
ELECTRONIC ARTS INC EA 0.04 236006 BBG000BP0KQ8 1129
PAYCHEX INC PAYX 0.03 176673 BBG000BQSQ38 1578
ROPER TECHNOLOGIES INC ROP 0.03 162720 BBG000F1ZSN5 464
ASTERA LABS INC ALAB 0.03 204985 BBG00TDKHW99 641
AXON ENTERPRISE INC AXON 0.03 185555 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 192357 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 200543 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 201012 BBG000BS1YV5 852
KEURIG DR PEPPER INC KDP 0.03 193314 BBG000TJM7F0 6399
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 168521 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 180911 BBG001NVJ6W4 834
CONSOLIDATED EDISON INC ED 0.03 192277 BBG000BHLYS1 1751
ROCKET LAB CORP RKLB 0.03 162639 BBG01V7JN3F3 2353
THOMSON REUTERS CORP TRI 0.03 174960 N/A 1929
KRAFT HEINZ CO/THE KHC 0.02 144656 BBG005CPNTQ2 5609
WORKDAY INC-CLASS A WDAY 0.02 121689 BBG000VC0T95 862
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 133944 BBG01BFR8YV1 2159
COPART INC CPRT 0.02 121966 BBG000BM9RH1 4489
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 128439 BBG00CMNZNK7 128439
DEXCOM INC DXCM 0.02 126028 BBG000QTF8K1 1686
MICROSTRATEGY INC-CL A MSTR 0.02 140079 BBG000GQJPZ0 1374
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 87.26 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 148.72 BBG003338H34 1
INSMED INC INSM 0.00 108.62 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 200.14 BBG020QYV152 1
Cash & Other Cash&Other -0.04 -211451 N/A -211451

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.