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 12/10/2025
TICKER RAA
NET ASSETS $510M
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 $27.93
30 DAY MEDIAN BID-ASK SPREAD 0.000369

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 0.21% 3.44% 5.88% 6.54% - - 12.08% 9.50%
RAA - Market Price 0.18% 3.45% 5.89% 6.40% - - 12.11% 9.52%
S&P 500 Index Total Return 0.25% 3.65% 6.34% 8.12% - - 16.12% 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 12/10/2025

NET ASSET VALUE

$27.93

CLOSING PRICE

$27.93

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 31
Discount 0 0 5 13 11

Asset Allocation

As of 12/10/2025

Equities

44.17%
Nasdaq
19.12%
US Large Cap
14.99%
Emerging Ex. China
3.04%
Japan
2.99%
Europe
2.02%
US Small Cap
1.01%
Dividend Payers
1.00%

Fixed Income

26.77%
High Yield
6.89%
Corporate Bonds
5.89%
Emerging Mkt Bonds
4.92%
TIPS
3.92%
Long Term Treasuries
2.90%
T-Bills
2.25%

Alternatives

29.06%
Commodities
7.04%
Managed Futures
6.92%
Gold
4.01%
Energy
3.98%
Miners
3.09%
Bitcoin
3.05%
Real Estate
0.97%

Holdings

As of 12/10/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.99 76530600 BBG00RYR67P4 579909
INVESCO OPTIMUM YIELD DIVERS PDBC 7.04 35955600 N/A 2609260
iM DBi Managed Futures Strategy ETF DBMF 6.92 35333800 N/A 1220930
Schwab High Yield Bond ETF SCYB 6.89 35184400 BBG01F80WX71 1328720
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.89 30055800 BBG000PWYVH7 357764
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.92 25097700 BBG000NXKWH0 260782
SPROTT PHYSICAL GOLD TRUS PHYS 4.01 20483600 BBG000Q83F79 632601
SCHWAB U.S. TIPS ETF SCHP 3.92 20001900 BBG000BGN6P5 748856
GRAYSCALE BITCN MINI TRU ETF BTC.UP 3.05 15578600 N/A 380338
ISHARES MSCI EMR MRK EX CHNA EMXC 3.04 15529900 BBG00H5VLMJ6 212884
Franklin FTSE Japan ETF FLJP 2.99 15276900 BBG00J3MDY16 424006
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.90 14790100 BBG00PZFJPC3 462481
Franklin FTSE Europe ETF FLEE 2.02 10310400 BBG00J3PR1S7 284639
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 10077200 BBG01922X0X9 201826
NVIDIA CORP NVDA 1.78 9069360 BBG000BBJQV0 49349
APPLE INC AAPL 1.66 8481600 BBG000B9XRY4 30424
MICROSOFT CORP MSFT 1.41 7190360 BBG000BPH459 15025
Broadcom Inc. AVGO 1.26 6422100 BBG00KHY5S69 15551
VANGUARD SMALL-CAP ETF VB 1.01 5140650 BBG000HT3Z79 19518
AMAZON.COM INC AMZN 1.00 5091280 BBG000BVPV84 21966
ISHARES MSCI GLOBAL METALS & PICK 0.78 4002750 BBG002GKR8T5 80312
ALPHABET INC-CL A GOOGL 0.76 3884470 BBG009S39JX6 12131
ALPHABET INC-CL C GOOG 0.71 3641420 BBG009S3NB30 11344
Tesla Inc. TSLA 0.66 3343440 BBG000N9MNX3 7406
META PLATFORMS INC META 0.57 2907380 BBG000MM2P62 4472
SCHLUMBERGER LTD SLB 0.44 2243950 BBG000BT41Q8 56197
CHEVRON CORP CVX 0.43 2181820 BBG000K4ND22 14410
EXXON MOBIL CORP XOM 0.41 2090400 BBG000GZQ728 17487
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.41 2117560 BBG000N7QR55 11269
BHP GROUP LTD BHP 0.40 2061470 BBG000BD5NZ4 34057
CANADIAN NATURAL RESOURCES CNQ 0.40 2035540 BBG000HW5GX3 60366
WILLIAMS COMPANIES INC. WMB 0.40 2021430 BBG000BWVCP8 33412
OCCIDENTAL PETROLEUM CORP OXY 0.40 2022040 BBG000BQQ2S6 48432
MARATHON PETROLEUM CORP MPC 0.39 1999470 BBG001DCCGR8 10452
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.39 1999490 BBG000BRK7L6 45268
EQT CORP EQT 0.38 1958470 BBG000BHZ5J9 34209
COSTCO WHOLESALE CORP COST 0.38 1935940 BBG000F6H8W8 2214
NETFLIX INC NFLX 0.38 1955160 BBG000CL9VN6 21089
Cheniere Energy Inc LNG 0.37 1887430 BBG000C3HSR0 9784
ADVANCED MICRO DEVICES INC AMD 0.34 1749660 BBG000BBQCY0 7902
ISHARES MSCI GLOBAL GOLD MIN RING 0.33 1703150 BBG002GKR6T9 23988
CISCO SYSTEMS INC CSCO 0.32 1612940 BBG000C3J3C9 20099
MICRON TECHNOLOGY INC MU 0.29 1457260 BBG000C5Z1S3 5526
NEWMONT GOLDCORP CORPORATION COM NEM 0.29 1475190 BBG000BPWXK1 15627
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.24 1245690 BBG00CMNZNK7 1245690
RIO TINTO PLC-SPON ADR RIO 0.23 1169830 BBG000FD28T3 15344
T-MOBILE US INC TMUS 0.22 1116060 BBG000NDV1D4 5714
AGNICO EAGLE MINES LTD AEM 0.22 1147950 BBG000DLVDK3 6995
LAM RESH CORP LRCX 0.21 1060210 BBG000BNFLM9 6301
APPLIED MATERIALS INC AMAT 0.21 1079410 BBG000BBPFB9 3923
INTUITIVE SURGICAL INC ISRG 0.20 1019560 BBG000BJPDZ1 1834
APPLOVIN CORP APP 0.20 1039450 BBG006HFPX77 1478
PEPSICO INC PEP 0.20 1028290 BBG000DH7JK6 6869
SHOPIFY INC - CLASS A SHOP 0.20 1031400 BBG008HBD923 6124
QUALCOMM INC QCOM 0.19 985027 BBG000CGC1X8 5406
INTUIT INC INTU 0.19 963836 BBG000BH5DV1 1455
Barrick Mining Corp. B 0.19 986329 N/A 23619
LINDE PLC LIN 0.18 931830 BBG01FND0CC1 2373
FREEPORT-MCMORAN INC FCX 0.17 885755 BBG000BJDB15 19069
AMGEN INC AMGN 0.17 859410 BBG000BBS2Y0 2725
BOOKING HOLDINGS INC BKNG 0.17 865461 BBG000BLBVN4 164
INTEL CORP INTC 0.17 879788 BBG000C0G1D1 21574
KLA CORPORATION KLAC 0.16 818920 BBG000BMTFR4 661
TEXAS INSTRUMENTS INC TXN 0.16 816970 BBG000BVV7G1 4497
GILEAD SCIENCES INC GILD 0.15 757283 BBG000CKGBP2 6241
ADOBE SYSTEMS INC ADBE 0.15 745622 BBG000BB5006 2173
AUTOMATIC DATA PROCESSING ADP 0.15 790987 BBG000JG0547 3050
WELLTOWER INC WELL 0.14 701036 BBG000BKY1G5 3669
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.14 691422 BBG000PVRDL2 6128
PROLOGIS INC PLD 0.13 659446 BBG000B9Z0J8 5084
Crowdstrike Holdings Inc. Class A CRWD 0.13 671246 BBG00BLYKS03 1292
ANALOG DEVICES INC ADI 0.13 687594 BBG000BB6G37 2442
PALO ALTO NETWORKS INC PANW 0.13 654134 BBG0014GJCT9 3390
GLENCORE PLC -UNSP ADR GLNCY 0.13 668225 BBG001VKX1Z1 65641
HONEYWELL INTERNATIONAL INC HON 0.12 624003 BBG000H556T9 3249
CONSTELLATION ENERGY CORPORATION CEG 0.11 561208 BBG014KFRNP7 1550
Anglo American PLC NGLOD 0.11 569207 N/A 29386
VERTEX PHARMACEUTICALS INC VRTX 0.11 571362 BBG000C1S2X2 1285
COMCAST CORP-CLASS A CMCSA 0.10 518366 BBG000BFT2L4 18795
MERCADOLIBRE INC MELI 0.10 506478 BBG000GQPB11 257
REALTY INCOME CORP O 0.10 510200 BBG000DHPN63 9003
FRANCO-NEVADA CORP FNV 0.10 506285 BBG000RD3CL8 2435
CADENCE DESIGN SYS INC CDNS 0.09 464156 BBG000C13CD9 1373
STARBUCKS CORP SBUX 0.09 481634 BBG000CTQBF3 5744
FASTENAL CO FAST 0.09 476630 BBG000BJ8YN7 11645
DOORDASH INC CLASS A DASH 0.09 452716 BBG005D7QCJ3 2055
ASML HOLDING NV-NY REG SHS ASML 0.09 456683 BBG000K6MRN4 408
EQUINIX INC EQIX 0.08 389966 BBG000MBDGM6 531
SYNOPSYS INC SNPS 0.08 432053 BBG000BSFRF3 907.999
OREILLY AUTOMOTIVE INC ORLY 0.08 396429 BBG000BGYWY6 4234
Marriott International, Inc Class A MAR 0.08 397727 BBG000BGD7W6 1386
REGENERON PHARMACEUTICALS REGN 0.07 378355 BBG000C734W3 521
MONSTER BEVERAGE CORP MNST 0.07 367527 BBG008NVB1C0 4976
CINTAS CORP CTAS 0.07 374049 BBG000H3YXF8 2016
CSX CORP CSX 0.07 343157 BBG000BGJRC8 9252
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 380078 BBG00LBLDDR2 3297
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 377832 BBG00ZXBJ153 4086
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 352764 BBG000D4LWF6 6546
Warner Bros Discovery Inc WBD 0.07 360384 BBG011386VF4 12204
SIMON PROPERTY GROUP INC SPG 0.07 344045 BBG000BJ2D31 1894
NXP Semiconductors NV NXPI 0.06 280859 BBG000BND699 1217
IDEXX LABS IDXX 0.06 284241 BBG000BLRT07 405
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 299304 N/A 2305
AUTODESK INC ADSK 0.06 313004 BBG000BM7HL0 1043
DIGITAL REALTY TRUST INC DLR 0.06 302431 BBG000Q5ZRM7 1896
FORTINET INC FTNT 0.06 322565 BBG000BCMBG4 3953
ROSS STORES INC ROST 0.06 304730 BBG000BSBZH7 1676
PAYPAL HOLDINGS INC PYPL 0.06 293385 BBG0077VNXV6 4797
PACCAR INC PCAR 0.06 298452 BBG000BQVTF5 2630
PUBLIC STORAGE PSA 0.06 294114 BBG000BPPN67 1099
AMERICAN ELECTRIC POWER AEP 0.06 310858 BBG000BB9KF2 2723
Baker Hughes Company BKR 0.05 236549 BBG00GBVBK51 4924
HORMEL FOODS CORP HRL 0.05 258362 BBG000BLF8D2 10883
MICROSTRATEGY INC-CL A MSTR 0.05 238924 BBG000GQJPZ0 1294
ILLINOIS TOOL WORKS ITW 0.05 255558 BBG000BMBL90 1008
AMCOR PLC AMCR 0.05 240301 BBG00LNJRQ09 29305
TARGET CORP TGT 0.05 265977 BBG000H8TVT2 2811
MEDTRONIC PLC MDT 0.05 236507 BBG000BNWG87 2347
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 233227 BBG000BS1YV5 948
FRANKLIN RESOURCES INC BEN 0.05 260769 BBG000BD0TF8 11187
AIRBNB INC ABNB 0.05 280144 BBG001Y2XS07 2196
T ROWE PRICE GROUP INC TROW 0.05 255586 BBG000BVMPN3 2468
ABBVIE INC ABBV 0.05 249499 BBG0025Y4RY4 1108
EVERSOURCE ENERGY ES 0.05 235691 BBG000BQ87N0 3485
WORKDAY INC-CLASS A WDAY 0.05 270418 BBG000VC0T95 1214
ASTRAZENECA PLC-SPONS ADR AZN 0.05 271236 BBG000BZ0DK8 2964
Datadog Inc. Class A DDOG 0.05 244339 BBG003NJHZT9 1616
STANLEY BLACK & DECKER INC SWK 0.05 265510 BBG000BTQR96 3500
ELECTRONIC ARTS INC EA 0.05 258865 BBG000BP0KQ8 1272
Ventas Inc. VTR 0.05 245083 BBG000FRVHB9 3153
ROPER TECHNOLOGIES INC ROP 0.05 233524 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 252803 BBG01C79X561 14596
Kimberly-Clark Corp KMB 0.05 240419 BBG000BMW2Z0 2331
GENUINE PARTS CO GPC 0.05 239382 BBG000BKL348 1824
AVALONBAY COMMUNITIES INC AVB 0.04 194503 BBG000BLPBL5 1103
PPG INDUSTRIES INC PPG 0.04 227497 BBG000BRJ809 2265
AXON ENTERPRISE INC AXON 0.04 224514 BBG000BHJWG1 395
Zscaler Inc. ZS 0.04 221637 BBG003338H34 911
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 206802 BBG000BBDV81 2485
EXTRA SPACE STORAGE INC EXR 0.04 196082 BBG000PV27K3 1511
KEURIG DR PEPPER INC KDP 0.04 194839 BBG000TJM7F0 6598
COPART INC CPRT 0.04 193638 BBG000BM9RH1 4941
VICI PROPERTIES INC REIT VICI 0.04 193765 BBG00HVVB499 6980
DIAMONDBACK ENERGY INC FANG 0.04 226155 BBG002PHSYX9 1411
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 191578 BBG01BFR8YV1 2268
International Business Machines Corporation IBM 0.04 211365 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 208890 BBG00B6BFWH9 2321
XCEL ENERGY INC XEL 0.04 217667 BBG000BCTQ65 2917
MICROCHIP TECHNOLOGY INC MCHP 0.04 181089 BBG000BHCP19 2667
PAYCHEX INC PAYX 0.04 213795 BBG000BQSQ38 1894
EXELON CORP EXC 0.04 221464 BBG000J6XT05 5117
COSTAR GROUP INC CSGP 0.03 140287 BBG000D7JKW9 2067
CHARTER COMMUNICATIONS INC-A CHTR 0.03 144611 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 148399 BBG000BG8M31 2446
IRON MOUNTAIN INC IRM 0.03 149710 BBG000KCZPC3 1751
BIOGEN INC BIIB 0.03 132275 BBG000C17X76 745
DEXCOM INC DXCM 0.03 135390 BBG000QTF8K1 2004
AFLAC INC AFL 0.03 140526 BBG000BBBNC6 1311
KRAFT HEINZ CO/THE KHC 0.03 143811 BBG005CPNTQ2 5906
Old Dominion Freight Line Inc. ODFL 0.03 163927 BBG000CHSS88 1042
VERISK ANALYTICS INC VRSK 0.03 143698 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 137794 BBG01BGWHFR5 852
MID-AMERICA APARTMENT COMM MAA 0.02 98001.7 BBG000BLMY92 743
LULULEMON ATHLETICA INC LULU 0.02 108820 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 98247.8 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 119948 BBG000BFS7D3 1170
KIMCO REALTY CORP KIM 0.02 97612 BBG000CN3S73 4866
Omega Healthcare Investors Inc OHI 0.02 97167 BBG000BGBTC2 2185
ARM HOLDINGS PLC ARM 0.02 90289.8 BBG01J1GXZF0 638
TRADE DESK INC/THE -CLASS A TTD 0.02 86048.7 BBG00629NGT2 2194
INVITATION HOMES INC REIT USD.01 INVH 0.02 94771.9 BBG00FQH6BS9 3579
W. P. CAREY REIT INC WPC 0.02 98340 BBG000BCQM58 1490
Cash & Other Cash&Other 0.02 98845.1 N/A 98845.1
Sun Communities Inc SUI 0.02 95024.9 BBG000BLJWF3 778
GLOBALFOUNDRIES INC GFS 0.02 109740 BBG000C2L5G9 2715
ESSEX PROPERTY TRUST INC ESS 0.02 97235 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 106068 BBG000DV7MX4 1925
AIR PRODUCTS & CHEMICALS INC APD 0.01 45685 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 47991.2 BBG000BHLYS1 503
JOHNSON & JOHNSON JNJ 0.01 49982.7 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 49995.3 BBG000BNSZP1 161
AO Smith Corp AOS 0.01 51687.1 BBG000BC1L02 761
Solstice Advanced Materials Inc. SOLSV 0.00 7128.14 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.