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 04/20/2026
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 $29.12
30 DAY MEDIAN BID-ASK SPREAD 0.000721

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 04/20/2026

NET ASSET VALUE

$29.12

CLOSING PRICE

$29.12

PREMIUM/DISCOUNT

0.00%
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 4/20/2026

Equities

48.95%
Nasdaq
21.93%
US Large Cap
17.52%
Dividend Payers
2.24%
Emerging Ex. China
2.16%
US Small Cap
2.07%
Japan
2.01%
Europe
1.02%

Fixed Income

27.27%
High Yield
6.70%
Corporate Bonds
5.72%
Emerging Mkt Bonds
3.88%
TIPS
3.81%
Long Term Treasuries
3.79%
T-Bills
3.37%

Alternatives

23.78%
Managed Futures
7.40%
Commodities
4.67%
Miners
3.08%
Gold
2.94%
Energy
2.66%
Bitcoin
2.12%
Real Estate
0.91%

Holdings

As of 04/20/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.52 99098000 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.40 41856300 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.70 37887600 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.72 32336300 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.67 26439500 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.88 21939800 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.81 21527300 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.79 21408100 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.94 16640200 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.84 16066000 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.16 12205800 BBG00H5VLMJ6 137391
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.12 11962700 N/A 354135
VANGUARD SMALL-CAP ETF VB 2.07 11725700 BBG000HT3Z79 40976
Franklin FTSE Japan ETF FLJP 2.01 11382100 BBG00J3MDY16 297962
NVIDIA CORP NVDA 1.97 11164800 BBG000BBJQV0 55255
APPLE INC AAPL 1.64 9274690 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.25 7060780 BBG000BPH459 16889
AMAZON.COM INC AMZN 1.06 5968900 BBG000BVPV84 24041
Franklin FTSE Europe ETF FLEE 1.02 5774380 BBG00J3PR1S7 148061
Tesla Inc. TSLA 0.79 4485100 BBG000N9MNX3 11427
ALPHABET INC-CL A GOOGL 0.78 4422900 BBG009S39JX6 13108
Broadcom Inc. AVGO 0.77 4364360 BBG00KHY5S69 10921
META PLATFORMS INC META 0.76 4293820 BBG000MM2P62 6400
ALPHABET INC-CL C GOOG 0.73 4109660 BBG009S3NB30 12253
WAL-MART STORES INC WMT 0.71 4039840 BBG000BWXBC2 31581
BHP GROUP LTD BHP 0.64 3593970 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.63 3548350 BBG000C5Z1S3 7913
ADVANCED MICRO DEVICES INC AMD 0.51 2901820 BBG000BBQCY0 10554
COSTCO WHOLESALE CORP COST 0.50 2849830 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.45 2540310 BBG000CL9VN6 26788
CISCO SYSTEMS INC CSCO 0.41 2328170 BBG000C3J3C9 26544
NEWMONT GOLDCORP CORPORATION COM NEM 0.38 2157730 BBG000BPWXK1 18789
LAM RESH CORP LRCX 0.38 2141600 BBG000BNFLM9 8138
INTEL CORP INTC 0.37 2113770 BBG000C0G1D1 32173
RIO TINTO PLC-SPON ADR RIO 0.37 2071670 BBG000FD28T3 20752
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.37 2111030 BBG000N7QR55 14470
APPLIED MATERIALS INC AMAT 0.36 2027420 BBG000BBPFB9 5177
CHEVRON CORP CVX 0.32 1808310 BBG000K4ND22 9868
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.32 1822350 BBG00CMNZNK7 1822350
SCHLUMBERGER LTD SLB 0.29 1631200 BBG000BT41Q8 31249
AGNICO EAGLE MINES LTD AEM 0.29 1657550 BBG000DLVDK3 7660
WILLIAMS COMPANIES INC. WMB 0.28 1584200 BBG000BWVCP8 22341
FREEPORT-MCMORAN INC FCX 0.28 1608240 BBG000BJDB15 22916
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.27 1537860 BBG000BRK7L6 24941
KLA CORPORATION KLAC 0.27 1538130 BBG000BMTFR4 852
CANADIAN NATURAL RESOURCES CNQ 0.26 1455620 BBG000HW5GX3 33617
EQT CORP EQT 0.26 1454010 BBG000BHZ5J9 25509
Cheniere Energy Inc LNG 0.26 1448990 BBG000C3HSR0 5742
LINDE PLC LIN 0.26 1495450 BBG01FND0CC1 3002
PEPSICO INC PEP 0.25 1387480 BBG000DH7JK6 8838
MARATHON PETROLEUM CORP MPC 0.25 1424540 BBG001DCCGR8 6653
T-MOBILE US INC TMUS 0.25 1427800 BBG000NDV1D4 7198
EXXON MOBIL CORP XOM 0.25 1422900 BBG000GZQ728 9635
OCCIDENTAL PETROLEUM CORP OXY 0.24 1384120 BBG000BQQ2S6 25406
TEXAS INSTRUMENTS INC TXN 0.24 1364340 BBG000BVV7G1 5838
GLENCORE PLC -UNSP ADR GLNCY 0.23 1321660 BBG001VKX1Z1 88702
AMGEN INC AMGN 0.22 1219610 BBG000BBS2Y0 3483
Barrick Mining Corp. B 0.21 1187930 N/A 27652
ANALOG DEVICES INC ADI 0.21 1182020 BBG000BB6G37 3102
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1157720 BBG000PVRDL2 7759
INTUITIVE SURGICAL INC ISRG 0.19 1053650 BBG000BJPDZ1 2263
GILEAD SCIENCES INC GILD 0.19 1071470 BBG000CKGBP2 7886
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1063050 BBG020BR8WR7 42454
AUTOMATIC DATA PROCESSING ADP 0.19 1051620 BBG000JG0547 5196
SHOPIFY INC - CLASS A SHOP 0.18 1024900 BBG008HBD923 7584
HONEYWELL INTERNATIONAL INC HON 0.17 939177 BBG000H556T9 4088
FRANCO-NEVADA CORP FNV 0.17 949144 BBG000RD3CL8 3677
QUALCOMM INC QCOM 0.17 953564 BBG000CGC1X8 6934
BOOKING HOLDINGS INC BKNG 0.17 960150 BBG000BLBVN4 5000
APPLOVIN CORP APP 0.17 946571 BBG006HFPX77 1928
VALE SA-SP ADR VALE 0.16 898859 BBG000BN5LG7 50441
WESTERN DIGITAL CORP WDC 0.15 844740 BBG000BWNFZ9 2258
REALTY INCOME CORP O 0.15 840454 BBG000DHPN63 12946
PALO ALTO NETWORKS INC PANW 0.15 829657 BBG0014GJCT9 4893
ASML HOLDING NV-NY REG SHS ASML 0.15 835699 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 869160 N/A 34864
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 808537 BBG00ZXBJ153 5469
CONSTELLATION ENERGY CORPORATION CEG 0.13 734428 BBG014KFRNP7 2554
VERTEX PHARMACEUTICALS INC VRTX 0.13 707519 BBG000C1S2X2 1611
WELLTOWER INC WELL 0.13 734332 BBG000BKY1G5 3506
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 756190 BBG0113JGQF0 1401
STARBUCKS CORP SBUX 0.13 707789 BBG000CTQBF3 7153
COMCAST CORP-CLASS A CMCSA 0.12 684801 BBG000BFT2L4 23034
INTUIT INC INTU 0.12 703595 BBG000BH5DV1 1738
Crowdstrike Holdings Inc. Class A CRWD 0.12 669217 BBG00BLYKS03 1545
PROLOGIS INC PLD 0.12 701365 BBG000B9Z0J8 4836
ADOBE SYSTEMS INC ADBE 0.11 642460 BBG000BB5006 2584
FRANKLIN RESOURCES INC BEN 0.11 630026 BBG000BD0TF8 22720
Marriott International, Inc Class A MAR 0.11 633599 BBG000BGD7W6 1673
KENVUE INC KVUE 0.10 548672 BBG01C79X561 31210
Kimberly-Clark Corp KMB 0.10 550642 BBG000BMW2Z0 5588
CADENCE DESIGN SYS INC CDNS 0.10 567567 BBG000C13CD9 1782
EQUINIX INC EQIX 0.10 539841 BBG000MBDGM6 489
STANLEY BLACK & DECKER INC SWK 0.10 569710 BBG000BTQR96 7584
ILLINOIS TOOL WORKS ITW 0.10 563357 BBG000BMBL90 2066
T ROWE PRICE GROUP INC TROW 0.10 578496 BBG000BVMPN3 5897
MERCADOLIBRE INC MELI 0.10 574115 BBG000GQPB11 307
SYNOPSYS INC SNPS 0.10 548070 BBG000BSFRF3 1189
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 572063 N/A 13735
AO Smith Corp AOS 0.09 515550 BBG000BC1L02 7859
GENUINE PARTS CO GPC 0.09 506317 BBG000BKL348 4497
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 484155 BBG000D4LWF6 8448
HORMEL FOODS CORP HRL 0.09 503495 BBG000BLF8D2 23605
MEDTRONIC PLC MDT 0.09 525385 BBG000BNWG87 6181
PPG INDUSTRIES INC PPG 0.09 509401 BBG000BRJ809 4440
CLOROX COMPANY CLX 0.09 531999 BBG000BFS7D3 5207
DOORDASH INC CLASS A DASH 0.09 488545 BBG005D7QCJ3 2574
EVERSOURCE ENERGY ES 0.09 533145 BBG000BQ87N0 7782
MONSTER BEVERAGE CORP MNST 0.09 497130 BBG008NVB1C0 6437
CSX CORP CSX 0.09 519362 BBG000BGJRC8 11882
OREILLY AUTOMOTIVE INC ORLY 0.09 498311 BBG000BGYWY6 5368
PACCAR INC PCAR 0.08 426631 BBG000BQVTF5 3325
Warner Bros Discovery Inc WBD 0.08 439735 BBG011386VF4 16037
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 462167 BBG000C30L48 310
REGENERON PHARMACEUTICALS REGN 0.08 479622 BBG000C734W3 640
ROSS STORES INC ROST 0.08 473847 BBG000BSBZH7 2076
CINTAS CORP CTAS 0.08 452800 BBG000H3YXF8 2534
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 446184 BBG00LBLDDR2 4282
AMERICAN ELECTRIC POWER AEP 0.08 470478 BBG000BB9KF2 3530
PUBLIC STORAGE PSA 0.07 371170 BBG000BPPN67 1189
Baker Hughes Company BKR 0.07 395196 BBG00GBVBK51 6679
AIRBNB INC ABNB 0.07 382093 BBG001Y2XS07 2661
J M Smucker Co COM STK NPV SJM 0.07 414363 BBG000BT1715 4310
FORTINET INC FTNT 0.07 386238 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 420258 BBG000Q5ZRM7 2061
ABBVIE INC ABBV 0.07 417809 BBG0025Y4RY4 2051
International Business Machines Corporation IBM 0.07 420144 BBG000BLNNH6 1656
SIMON PROPERTY GROUP INC SPG 0.07 416158 BBG000BJ2D31 2005
XCEL ENERGY INC XEL 0.06 320477 BBG000BCTQ65 3990
FASTENAL CO FAST 0.06 331677 BBG000BJ8YN7 7280
NXP Semiconductors NV NXPI 0.06 355915 BBG000BND699 1608
FERROVIAL SE FER 0.06 323707 BBG01H7CZ9S9 4516
AUTODESK INC ADSK 0.06 321601 BBG000BM7HL0 1311
DIAMONDBACK ENERGY INC FANG 0.06 349656 BBG002PHSYX9 1906
MICROSTRATEGY INC-CL A MSTR 0.06 355797 BBG000GQJPZ0 2083
ELECTRONIC ARTS INC EA 0.06 325986 BBG000BP0KQ8 1603
Ventas Inc. VTR 0.05 276128 BBG000FRVHB9 3262
MICROCHIP TECHNOLOGY INC MCHP 0.05 268985 BBG000BHCP19 3346
PAYPAL HOLDINGS INC PYPL 0.05 292704 BBG0077VNXV6 5688
EXELON CORP EXC 0.05 310694 BBG000J6XT05 6696
Old Dominion Freight Line Inc. ODFL 0.05 299106 BBG000CHSS88 1339
IDEXX LABS IDXX 0.05 302025 BBG000BLRT07 518
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 271917 N/A 2865
Datadog Inc. Class A DDOG 0.05 268821 BBG003NJHZT9 2072
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 289176 BBG00B6BFWH9 2972
PAYCHEX INC PAYX 0.04 213921 BBG000BQSQ38 2298
ROPER TECHNOLOGIES INC ROP 0.04 239673 BBG000F1ZSN5 666
CINCINNATI FINANCIAL CORP CINF 0.04 232718 BBG000BFPK65 1402
AXON ENTERPRISE INC AXON 0.04 211565 BBG000BHJWG1 524
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 245257 BBG000BS1YV5 1131
CHARTER COMMUNICATIONS INC-A CHTR 0.04 201135 BBG000VPGNR2 822
KEURIG DR PEPPER INC KDP 0.04 239428 BBG000TJM7F0 9035
VICI PROPERTIES INC REIT VICI 0.04 224484 BBG00HVVB499 7800
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 252172 BBG000BFGNJ5 811
EXTRA SPACE STORAGE INC EXR 0.04 241145 BBG000PV27K3 1641
COPART INC CPRT 0.04 205396 BBG000BM9RH1 6084
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 211698 BBG01BFR8YV1 2855
AVALONBAY COMMUNITIES INC AVB 0.04 232795 BBG000BLPBL5 1320
INSMED INC INSM 0.03 176097 BBG000BWM5P3 1233
KRAFT HEINZ CO/THE KHC 0.03 167108 BBG005CPNTQ2 7524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 187288 BBG000BBDV81 3108
IRON MOUNTAIN INC IRM 0.03 189714 BBG000KCZPC3 1574
EQUITY RESIDENTIAL EQR 0.03 171642 BBG000BG8M31 2706
VERISK ANALYTICS INC VRSK 0.03 159258 BBG000BCZL41 886
WORKDAY INC-CLASS A WDAY 0.03 164531 BBG000VC0T95 1286
DEXCOM INC DXCM 0.03 159805 BBG000QTF8K1 2473
Sun Communities Inc SUI 0.02 110452 BBG000BLJWF3 848
ESSEX PROPERTY TRUST INC ESS 0.02 113499 BBG000CGJMB9 439
AIR PRODUCTS & CHEMICALS INC APD 0.02 109279 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 110325 BBG000D7JKW9 2754
Omega Healthcare Investors Inc OHI 0.02 112322 BBG000BGBTC2 2415
MID-AMERICA APARTMENT COMM MAA 0.02 112768 BBG000BLMY92 871
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 100416 BBG000B9ZXB4 1046
Zscaler Inc. ZS 0.02 128734 BBG003338H34 955
KIMCO REALTY CORP KIM 0.02 114093 BBG000CN3S73 4742
INVITATION HOMES INC REIT USD.01 INVH 0.02 117776 BBG00FQH6BS9 4289
MCDONALDS CORP MCD 0.02 105280 BBG000BNSZP1 343
CONSOLIDATED EDISON INC ED 0.02 140049 BBG000BHLYS1 1277
W. P. CAREY REIT INC WPC 0.02 115772 BBG000BCQM58 1570
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 69978.9 BBG01BGWHFR5 979
Cash & Other Cash&Other -0.03 -152407 N/A -152407

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.