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 04/17/2026
TICKER RAA
NET ASSETS $566M
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 $29.15
30 DAY MEDIAN BID-ASK SPREAD 0.000724

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 04/17/2026

NET ASSET VALUE

$29.15

CLOSING PRICE

$29.15

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 7
Discount 5 13 16 8 4

Asset Allocation

As of 4/17/2026

Equities

49.05%
Nasdaq
21.96%
US Large Cap
17.53%
Dividend Payers
2.27%
Emerging Ex. China
2.18%
US Small Cap
2.06%
Japan
2.03%
Europe
1.02%

Fixed Income

27.24%
High Yield
6.70%
Corporate Bonds
5.71%
Emerging Mkt Bonds
3.88%
TIPS
3.81%
Long Term Treasuries
3.78%
T-Bills
3.36%

Alternatives

23.71%
Managed Futures
7.34%
Commodities
4.60%
Miners
3.12%
Gold
2.96%
Energy
2.65%
Bitcoin
2.15%
Real Estate
0.89%

Holdings

As of 04/17/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.53 99251300 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.34 41578800 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.70 37916400 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.71 32328500 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.60 26037500 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.88 21958000 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.81 21543300 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.78 21421700 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.96 16772300 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.84 16062800 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.18 12318500 BBG00H5VLMJ6 137391
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.15 12146800 N/A 354135
VANGUARD SMALL-CAP ETF VB 2.06 11664600 BBG000HT3Z79 40976
Franklin FTSE Japan ETF FLJP 2.03 11492400 BBG00J3MDY16 297962
NVIDIA CORP NVDA 1.97 11143800 BBG000BBJQV0 55255
APPLE INC AAPL 1.62 9178900 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.26 7140500 BBG000BPH459 16889
AMAZON.COM INC AMZN 1.06 6023710 BBG000BVPV84 24041
Franklin FTSE Europe ETF FLEE 1.02 5799560 BBG00J3PR1S7 148061
Tesla Inc. TSLA 0.81 4577880 BBG000N9MNX3 11427
ALPHABET INC-CL A GOOGL 0.79 4478740 BBG009S39JX6 13108
Broadcom Inc. AVGO 0.78 4439820 BBG00KHY5S69 10921
META PLATFORMS INC META 0.78 4406720 BBG000MM2P62 6400
ALPHABET INC-CL C GOOG 0.73 4158670 BBG009S3NB30 12253
WAL-MART STORES INC WMT 0.71 4026580 BBG000BWXBC2 31581
BHP GROUP LTD BHP 0.64 3632800 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.64 3600970 BBG000C5Z1S3 7913
ADVANCED MICRO DEVICES INC AMD 0.52 2938130 BBG000BBQCY0 10554
COSTCO WHOLESALE CORP COST 0.50 2855690 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.46 2606740 BBG000CL9VN6 26788
CISCO SYSTEMS INC CSCO 0.40 2289420 BBG000C3J3C9 26544
INTEL CORP INTC 0.39 2203850 BBG000C0G1D1 32173
NEWMONT GOLDCORP CORPORATION COM NEM 0.39 2188920 BBG000BPWXK1 18789
LAM RESH CORP LRCX 0.38 2177730 BBG000BNFLM9 8138
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.37 2118260 BBG000N7QR55 14470
RIO TINTO PLC-SPON ADR RIO 0.37 2078310 BBG000FD28T3 20752
APPLIED MATERIALS INC AMAT 0.36 2054960 BBG000BBPFB9 5177
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.32 1820500 BBG00CMNZNK7 1820500
CHEVRON CORP CVX 0.32 1815610 BBG000K4ND22 9868
AGNICO EAGLE MINES LTD AEM 0.30 1685970 BBG000DLVDK3 7660
SCHLUMBERGER LTD SLB 0.29 1645570 BBG000BT41Q8 31249
WILLIAMS COMPANIES INC. WMB 0.28 1589560 BBG000BWVCP8 22341
FREEPORT-MCMORAN INC FCX 0.28 1608930 BBG000BJDB15 22916
KLA CORPORATION KLAC 0.27 1526310 BBG000BMTFR4 852
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.27 1525390 BBG000BRK7L6 24941
LINDE PLC LIN 0.26 1477670 BBG01FND0CC1 3002
CANADIAN NATURAL RESOURCES CNQ 0.26 1445530 BBG000HW5GX3 33617
EQT CORP EQT 0.26 1491770 BBG000BHZ5J9 25509
T-MOBILE US INC TMUS 0.25 1422830 BBG000NDV1D4 7198
MARATHON PETROLEUM CORP MPC 0.25 1421680 BBG001DCCGR8 6653
PEPSICO INC PEP 0.25 1393490 BBG000DH7JK6 8838
Cheniere Energy Inc LNG 0.25 1441640 BBG000C3HSR0 5742
EXXON MOBIL CORP XOM 0.25 1410950 BBG000GZQ728 9635
TEXAS INSTRUMENTS INC TXN 0.24 1341690 BBG000BVV7G1 5838
OCCIDENTAL PETROLEUM CORP OXY 0.24 1366590 BBG000BQQ2S6 25406
GLENCORE PLC -UNSP ADR GLNCY 0.23 1321660 BBG001VKX1Z1 88702
AMGEN INC AMGN 0.22 1237510 BBG000BBS2Y0 3483
Barrick Mining Corp. B 0.21 1197330 N/A 27652
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1182320 BBG000PVRDL2 7759
ANALOG DEVICES INC ADI 0.20 1152240 BBG000BB6G37 3102
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1055870 BBG020BR8WR7 42454
INTUITIVE SURGICAL INC ISRG 0.19 1061820 BBG000BJPDZ1 2263
GILEAD SCIENCES INC GILD 0.19 1085430 BBG000CKGBP2 7886
SHOPIFY INC - CLASS A SHOP 0.18 994642 BBG008HBD923 7584
AUTOMATIC DATA PROCESSING ADP 0.18 1041640 BBG000JG0547 5196
BOOKING HOLDINGS INC BKNG 0.17 960050 BBG000BLBVN4 5000
HONEYWELL INTERNATIONAL INC HON 0.17 954752 BBG000H556T9 4088
QUALCOMM INC QCOM 0.17 944411 BBG000CGC1X8 6934
FRANCO-NEVADA CORP FNV 0.17 965212 BBG000RD3CL8 3677
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.16 881711 N/A 34864
APPLOVIN CORP APP 0.16 920042 BBG006HFPX77 1928
VALE SA-SP ADR VALE 0.16 896841 BBG000BN5LG7 50441
REALTY INCOME CORP O 0.15 842655 BBG000DHPN63 12946
ASML HOLDING NV-NY REG SHS ASML 0.15 826247 BBG000K6MRN4 566
PALO ALTO NETWORKS INC PANW 0.15 821290 BBG0014GJCT9 4893
WESTERN DIGITAL CORP WDC 0.15 841150 BBG000BWNFZ9 2258
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 767398 BBG0113JGQF0 1401
CONSTELLATION ENERGY CORPORATION CEG 0.13 756520 BBG014KFRNP7 2554
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 763965 BBG00ZXBJ153 5469
STARBUCKS CORP SBUX 0.13 715300 BBG000CTQBF3 7153
WELLTOWER INC WELL 0.13 738083 BBG000BKY1G5 3506
VERTEX PHARMACEUTICALS INC VRTX 0.13 710773 BBG000C1S2X2 1611
Crowdstrike Holdings Inc. Class A CRWD 0.12 655003 BBG00BLYKS03 1545
COMCAST CORP-CLASS A CMCSA 0.12 682497 BBG000BFT2L4 23034
PROLOGIS INC PLD 0.12 701704 BBG000B9Z0J8 4836
INTUIT INC INTU 0.12 683468 BBG000BH5DV1 1738
Marriott International, Inc Class A MAR 0.11 632277 BBG000BGD7W6 1673
FRANKLIN RESOURCES INC BEN 0.11 619574 BBG000BD0TF8 22720
ADOBE SYSTEMS INC ADBE 0.11 631659 BBG000BB5006 2584
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 576113 N/A 13736.6
KENVUE INC KVUE 0.10 549608 BBG01C79X561 31210
CLOROX COMPANY CLX 0.10 544548 BBG000BFS7D3 5207
EVERSOURCE ENERGY ES 0.10 538904 BBG000BQ87N0 7782
T ROWE PRICE GROUP INC TROW 0.10 571891 BBG000BVMPN3 5897
ILLINOIS TOOL WORKS ITW 0.10 562489 BBG000BMBL90 2066
Kimberly-Clark Corp KMB 0.10 552318 BBG000BMW2Z0 5588
STANLEY BLACK & DECKER INC SWK 0.10 541043 BBG000BTQR96 7584
MERCADOLIBRE INC MELI 0.10 569740 BBG000GQPB11 307
CADENCE DESIGN SYS INC CDNS 0.10 554255 BBG000C13CD9 1782
SYNOPSYS INC SNPS 0.09 534551 BBG000BSFRF3 1189
HORMEL FOODS CORP HRL 0.09 500190 BBG000BLF8D2 23605
GENUINE PARTS CO GPC 0.09 511714 BBG000BKL348 4497
MONSTER BEVERAGE CORP MNST 0.09 493847 BBG008NVB1C0 6437
EQUINIX INC EQIX 0.09 532335 BBG000MBDGM6 489
CSX CORP CSX 0.09 514728 BBG000BGJRC8 11882
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 483648 BBG000D4LWF6 8448
MEDTRONIC PLC MDT 0.09 532740 BBG000BNWG87 6181
AO Smith Corp AOS 0.09 509420 BBG000BC1L02 7859
OREILLY AUTOMOTIVE INC ORLY 0.09 503035 BBG000BGYWY6 5368
PPG INDUSTRIES INC PPG 0.09 509934 BBG000BRJ809 4440
Warner Bros Discovery Inc WBD 0.08 440536 BBG011386VF4 16037
DOORDASH INC CLASS A DASH 0.08 473333 BBG005D7QCJ3 2574
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 448711 BBG00LBLDDR2 4282
AMERICAN ELECTRIC POWER AEP 0.08 471820 BBG000BB9KF2 3530
ABBVIE INC ABBV 0.08 427387 BBG0025Y4RY4 2051
ROSS STORES INC ROST 0.08 472954 BBG000BSBZH7 2076
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 455188 BBG000C30L48 310
CINTAS CORP CTAS 0.08 454017 BBG000H3YXF8 2534
REGENERON PHARMACEUTICALS REGN 0.08 480365 BBG000C734W3 640
AIRBNB INC ABNB 0.07 376665 BBG001Y2XS07 2661
Baker Hughes Company BKR 0.07 399271 BBG00GBVBK51 6679
FORTINET INC FTNT 0.07 382684 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 419661 BBG000Q5ZRM7 2061
SIMON PROPERTY GROUP INC SPG 0.07 413491 BBG000BJ2D31 2005
J M Smucker Co COM STK NPV SJM 0.07 411605 BBG000BT1715 4310
International Business Machines Corporation IBM 0.07 419746 BBG000BLNNH6 1656
PACCAR INC PCAR 0.07 419781 BBG000BQVTF5 3325
FERROVIAL SE FER 0.06 325378 BBG01H7CZ9S9 4516
NXP Semiconductors NV NXPI 0.06 347376 BBG000BND699 1608
AUTODESK INC ADSK 0.06 317288 BBG000BM7HL0 1311
FASTENAL CO FAST 0.06 333278 BBG000BJ8YN7 7280
PUBLIC STORAGE PSA 0.06 367663 BBG000BPPN67 1189
EXELON CORP EXC 0.06 314846 BBG000J6XT05 6696
XCEL ENERGY INC XEL 0.06 323509 BBG000BCTQ65 3990
MICROSTRATEGY INC-CL A MSTR 0.06 346861 BBG000GQJPZ0 2083
DIAMONDBACK ENERGY INC FANG 0.06 343595 BBG002PHSYX9 1906
ELECTRONIC ARTS INC EA 0.06 326740 BBG000BP0KQ8 1603
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 266474 N/A 2865
Datadog Inc. Class A DDOG 0.05 262336 BBG003NJHZT9 2072
IDEXX LABS IDXX 0.05 305232 BBG000BLRT07 518
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 293634 BBG00B6BFWH9 2972
PAYPAL HOLDINGS INC PYPL 0.05 289007 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 291581 BBG000CHSS88 1339
MICROCHIP TECHNOLOGY INC MCHP 0.05 263531 BBG000BHCP19 3346
Ventas Inc. VTR 0.05 277596 BBG000FRVHB9 3262
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 213154 BBG01BFR8YV1 2855
KEURIG DR PEPPER INC KDP 0.04 239699 BBG000TJM7F0 9035
AXON ENTERPRISE INC AXON 0.04 211093 BBG000BHJWG1 524
VICI PROPERTIES INC REIT VICI 0.04 226278 BBG00HVVB499 7800
PAYCHEX INC PAYX 0.04 211324 BBG000BQSQ38 2298
COPART INC CPRT 0.04 203510 BBG000BM9RH1 6084
CINCINNATI FINANCIAL CORP CINF 0.04 233882 BBG000BFPK65 1402
ROPER TECHNOLOGIES INC ROP 0.04 241385 BBG000F1ZSN5 666
EXTRA SPACE STORAGE INC EXR 0.04 238536 BBG000PV27K3 1641
AVALONBAY COMMUNITIES INC AVB 0.04 229535 BBG000BLPBL5 1320
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 251134 BBG000BFGNJ5 811
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 239817 BBG000BS1YV5 1131
WORKDAY INC-CLASS A WDAY 0.03 159245 BBG000VC0T95 1286
INSMED INC INSM 0.03 178144 BBG000BWM5P3 1233
VERISK ANALYTICS INC VRSK 0.03 157770 BBG000BCZL41 886
EQUITY RESIDENTIAL EQR 0.03 169612 BBG000BG8M31 2706
IRON MOUNTAIN INC IRM 0.03 185842 BBG000KCZPC3 1574
KRAFT HEINZ CO/THE KHC 0.03 169064 BBG005CPNTQ2 7524
DEXCOM INC DXCM 0.03 158223 BBG000QTF8K1 2473
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 190520 BBG000BBDV81 3108
CHARTER COMMUNICATIONS INC-A CHTR 0.03 194502 BBG000VPGNR2 822
Zscaler Inc. ZS 0.02 128619 BBG003338H34 955
INVITATION HOMES INC REIT USD.01 INVH 0.02 115932 BBG00FQH6BS9 4289
COSTAR GROUP INC CSGP 0.02 109389 BBG000D7JKW9 2754
CONSOLIDATED EDISON INC ED 0.02 140662 BBG000BHLYS1 1277
MCDONALDS CORP MCD 0.02 106796 BBG000BNSZP1 343
Sun Communities Inc SUI 0.02 110639 BBG000BLJWF3 848
MID-AMERICA APARTMENT COMM MAA 0.02 111436 BBG000BLMY92 871
ESSEX PROPERTY TRUST INC ESS 0.02 111932 BBG000CGJMB9 439
KIMCO REALTY CORP KIM 0.02 114709 BBG000CN3S73 4742
Omega Healthcare Investors Inc OHI 0.02 113070 BBG000BGBTC2 2415
W. P. CAREY REIT INC WPC 0.02 116149 BBG000BCQM58 1570
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 101263 BBG000B9ZXB4 1046
AIR PRODUCTS & CHEMICALS INC APD 0.02 107678 BBG000BC4JJ4 369
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 65534.3 BBG01BGWHFR5 979
Cash & Other Cash&Other -0.02 -139694 N/A -139694

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.