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 03/26/2026
TICKER RAA
NET ASSETS $529M
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 $27.26
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 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 03/26/2026

NET ASSET VALUE

$27.26

CLOSING PRICE

$27.26

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 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Premium 23 54 47 39 34
Discount 0 5 13 16 7

Asset Allocation

As of 3/26/2026

Equities

44.41%
Nasdaq
18.01%
US Large Cap
14.97%
Dividend Payers
4.75%
US Small Cap
2.00%
Japan
1.89%
Emerging Ex. China
1.85%
Europe
0.94%

Fixed Income

31.90%
Corporate Bonds
9.17%
High Yield
8.22%
Emerging Mkt Bonds
5.04%
Long Term Treasuries
5.01%
TIPS
3.10%
T-Bills
1.36%

Alternatives

23.69%
Managed Futures
7.02%
Energy
4.51%
Miners
4.26%
Gold
3.48%
Commodities
2.41%
Real Estate
2.01%
Bitcoin
0.00%

Holdings

As of 03/26/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.97 79136800 BBG00RYR67P4 639283
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.17 48504900 BBG000PWYVH7 591451
SCHWAB HIGH YIELD BOND ETF SCYB 8.22 43482400 BBG01F80WX71 1684710
iM DBi Managed Futures Strategy ETF DBMF 7.02 37145400 N/A 1243980
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.04 26672500 BBG000NXKWH0 285389
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.01 26485000 BBG00PZFJPC3 848879
SPROTT PHYSICAL GOLD TRUS PHYS 3.48 18427100 BBG000Q83F79 558228
SCHWAB U.S. TIPS ETF SCHP 3.10 16400400 BBG000BGN6P5 619817
INVESCO OPTIMUM YIELD DIVERS PDBC 2.41 12769100 N/A 750243
VANGUARD SMALL-CAP ETF VB 2.00 10549500 BBG000HT3Z79 40457
Franklin FTSE Japan ETF FLJP 1.89 9981450 BBG00J3MDY16 281723
ISHARES MSCI EMR MRK EX CHNA EMXC 1.85 9803400 BBG00H5VLMJ6 127350
NVIDIA CORP NVDA 1.58 8345550 BBG000BBJQV0 48736
APPLE INC AAPL 1.41 7437240 BBG000B9XRY4 29409
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.06 5580100 BBG01922X0X9 111669
ISHARES MSCI GLOBAL METALS & PICK 1.05 5554390 BBG002GKR8T5 103646
MICROSOFT CORP MSFT 1.02 5413060 BBG000BPH459 14791
Franklin FTSE Europe ETF FLEE 0.94 4967460 BBG00J3PR1S7 140841
AMAZON.COM INC AMZN 0.82 4325960 BBG000BVPV84 20844
Tesla Inc. TSLA 0.70 3698770 BBG000N9MNX3 9940
CHEVRON CORP CVX 0.66 3472380 BBG000K4ND22 16711
META PLATFORMS INC META 0.61 3206390 BBG000MM2P62 5856
ALPHABET INC-CL A GOOGL 0.60 3188160 BBG009S39JX6 11349
WAL-MART STORES INC WMT 0.59 3132820 BBG000BWXBC2 25641
ALPHABET INC-CL C GOOG 0.56 2960960 BBG009S3NB30 10547
MARATHON PETROLEUM CORP MPC 0.54 2837940 BBG001DCCGR8 11429
Broadcom Inc. AVGO 0.54 2874470 BBG00KHY5S69 9290
OCCIDENTAL PETROLEUM CORP OXY 0.52 2731570 BBG000BQQ2S6 42442
Cheniere Energy Inc LNG 0.52 2769170 BBG000C3HSR0 9503
BHP GROUP LTD BHP 0.50 2630400 BBG000BD5NZ4 38400
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.49 2569500 BBG000BRK7L6 39543
CANADIAN NATURAL RESOURCES CNQ 0.47 2494970 BBG000HW5GX3 51263
EQT CORP EQT 0.46 2422810 BBG000BHZ5J9 36237
EXXON MOBIL CORP XOM 0.46 2440920 BBG000GZQ728 14755
COSTCO WHOLESALE CORP COST 0.44 2310010 BBG000F6H8W8 2358
SCHLUMBERGER LTD SLB 0.43 2283330 BBG000BT41Q8 43650
WILLIAMS COMPANIES INC. WMB 0.42 2205210 BBG000BWVCP8 29776
ISHARES MSCI GLOBAL GOLD MIN RING 0.42 2219490 BBG002GKR6T9 31081
MICRON TECHNOLOGY INC MU 0.41 2175060 BBG000C5Z1S3 6119
NETFLIX INC NFLX 0.36 1894680 BBG000CL9VN6 20303
ADVANCED MICRO DEVICES INC AMD 0.35 1825980 BBG000BBQCY0 8961
FREEPORT-MCMORAN INC FCX 0.34 1812630 BBG000BJDB15 32467
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 1820600 BBG000N7QR55 12338
AUTOMATIC DATA PROCESSING ADP 0.34 1773920 BBG000JG0547 8674
REALTY INCOME CORP O 0.33 1738070 BBG000DHPN63 28838
CISCO SYSTEMS INC CSCO 0.33 1740560 BBG000C3J3C9 21185
NEWMONT GOLDCORP CORPORATION COM NEM 0.32 1694980 BBG000BPWXK1 17059
AGNICO EAGLE MINES LTD AEM 0.30 1587320 BBG000DLVDK3 8463
RIO TINTO PLC-SPON ADR RIO 0.28 1506730 BBG000FD28T3 17563
APPLIED MATERIALS INC AMAT 0.28 1463550 BBG000BBPFB9 4323
TARGET CORP TGT 0.27 1442840 BBG000H8TVT2 12332
LAM RESH CORP LRCX 0.27 1446630 BBG000BNFLM9 6836
FASTENAL CO FAST 0.26 1397010 BBG000BJ8YN7 30969
WELLTOWER INC WELL 0.26 1397450 BBG000BKY1G5 7147
AIR PRODUCTS & CHEMICALS INC APD 0.25 1335100 BBG000BC4JJ4 4554
T ROWE PRICE GROUP INC TROW 0.25 1342890 BBG000BVMPN3 14883
KENVUE INC KVUE 0.24 1285610 BBG01C79X561 73171
FRANKLIN RESOURCES INC BEN 0.24 1250440 BBG000BD0TF8 53007
EVERSOURCE ENERGY ES 0.24 1251140 BBG000BQ87N0 18410
ILLINOIS TOOL WORKS ITW 0.24 1256410 BBG000BMBL90 4807
ABBVIE INC ABBV 0.24 1278330 BBG0025Y4RY4 6055
T-MOBILE US INC TMUS 0.24 1254520 BBG000NDV1D4 5929
PROLOGIS INC PLD 0.24 1259650 BBG000B9Z0J8 9709
Kimberly-Clark Corp KMB 0.23 1240470 BBG000BMW2Z0 12549
HORMEL FOODS CORP HRL 0.23 1235800 BBG000BLF8D2 54083
LINDE PLC LIN 0.23 1231790 BBG01FND0CC1 2486
GENUINE PARTS CO GPC 0.22 1161450 BBG000BKL348 11032
STANLEY BLACK & DECKER INC SWK 0.22 1152010 BBG000BTQR96 16269
AMCOR PLC COMMON STOCK USD.01 AMCR 0.22 1145380 N/A 28727.8
PEPSICO INC PEP 0.21 1096680 BBG000DH7JK6 7271
INTEL CORP INTC 0.21 1135050 BBG000C0G1D1 25738
GLENCORE PLC -UNSP ADR GLNCY 0.20 1044250 BBG001VKX1Z1 74271
MEDTRONIC PLC MDT 0.20 1031520 BBG000BNWG87 11862
Barrick Mining Corp. B 0.20 1074100 N/A 28658
EQUINIX INC EQIX 0.19 996145 BBG000MBDGM6 1034
CLOROX COMPANY CLX 0.19 985833 BBG000BFS7D3 9648
AMGEN INC AMGN 0.19 1001210 BBG000BBS2Y0 2835
KLA CORPORATION KLAC 0.19 1028850 BBG000BMTFR4 709
International Business Machines Corporation IBM 0.19 983839 BBG000BLNNH6 4071
TEXAS INSTRUMENTS INC TXN 0.18 965890 BBG000BVV7G1 4994
FRANCO-NEVADA CORP FNV 0.18 950488 BBG000RD3CL8 4171
INTUITIVE SURGICAL INC ISRG 0.17 898679 BBG000BJPDZ1 1918
VALE SA-SP ADR VALE 0.17 872557 BBG000BN5LG7 58365
GILEAD SCIENCES INC GILD 0.17 885614 BBG000CKGBP2 6470
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.16 856916 BBG000PVRDL2 7204
ANALOG DEVICES INC ADI 0.16 831503 BBG000BB6G37 2653
SHOPIFY INC - CLASS A SHOP 0.15 802123 BBG008HBD923 6949
QUALCOMM INC QCOM 0.15 769272 BBG000CGC1X8 5893
HONEYWELL INTERNATIONAL INC HON 0.14 766254 BBG000H556T9 3403
BOOKING HOLDINGS INC BKNG 0.14 733194 BBG000BLBVN4 174
DIGITAL REALTY TRUST INC DLR 0.14 714028 BBG000Q5ZRM7 4086
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 731724 N/A 35904
PALO ALTO NETWORKS INC PANW 0.13 691268 BBG0014GJCT9 4421
SIMON PROPERTY GROUP INC SPG 0.13 691749 BBG000BJ2D31 3805
INTUIT INC INTU 0.12 633253 BBG000BH5DV1 1464
APPLOVIN CORP APP 0.12 658406 BBG006HFPX77 1683
ASML HOLDING NV-NY REG SHS ASML 0.12 627524 BBG000K6MRN4 472
PUBLIC STORAGE PSA 0.11 578634 BBG000BPPN67 2159
COMCAST CORP-CLASS A CMCSA 0.11 557656 BBG000BFT2L4 19417
CONSTELLATION ENERGY CORPORATION CEG 0.11 568536 BBG014KFRNP7 1926
VERTEX PHARMACEUTICALS INC VRTX 0.11 594399 BBG000C1S2X2 1310
STARBUCKS CORP SBUX 0.11 559087 BBG000CTQBF3 6129
WESTERN DIGITAL CORP WDC 0.10 503237 BBG000BWNFZ9 1841
CINCINNATI FINANCIAL CORP CINF 0.10 531433 BBG000BFPK65 3373
ADOBE SYSTEMS INC ADBE 0.10 535958 BBG000BB5006 2225
Crowdstrike Holdings Inc. Class A CRWD 0.10 552416 BBG00BLYKS03 1407
Ventas Inc. VTR 0.10 529851 BBG000FRVHB9 6410
Marriott International, Inc Class A MAR 0.09 487959 BBG000BGD7W6 1498
VICI PROPERTIES INC REIT VICI 0.09 450394 BBG00HVVB499 16583
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.09 456752 BBG00ZXBJ153 4676
MONDELEZ INTERNATIONAL INC-A MDLZ 0.08 396841 BBG000D4LWF6 6892
CADENCE DESIGN SYS INC CDNS 0.08 403532 BBG000C13CD9 1438
REGENERON PHARMACEUTICALS REGN 0.08 410904 BBG000C734W3 543
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.08 441290 BBG0113JGQF0 1165
MERCADOLIBRE INC MELI 0.08 437105 BBG000GQPB11 268
CSX CORP CSX 0.08 400523 BBG000BGJRC8 10127
SYNOPSYS INC SNPS 0.08 410792 BBG000BSFRF3 1022
OREILLY AUTOMOTIVE INC ORLY 0.08 408664 BBG000BGYWY6 4429
Warner Bros Discovery Inc WBD 0.07 364200 BBG011386VF4 13454
IRON MOUNTAIN INC IRM 0.07 356247 BBG000KCZPC3 3555
EQUITY RESIDENTIAL EQR 0.07 365510 BBG000BG8M31 6142
EXTRA SPACE STORAGE INC EXR 0.07 383902 BBG000PV27K3 2942
ROSS STORES INC ROST 0.07 380811 BBG000BSBZH7 1777
CINTAS CORP CTAS 0.07 359482 BBG000H3YXF8 2129
MONSTER BEVERAGE CORP MNST 0.07 374872 BBG008NVB1C0 5208
AVALONBAY COMMUNITIES INC AVB 0.07 358031 BBG000BLPBL5 2191
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 365955 BBG00LBLDDR2 3637
AMERICAN ELECTRIC POWER AEP 0.07 364001 BBG000BB9KF2 2825
Baker Hughes Company BKR 0.06 325207 BBG00GBVBK51 5215
AIRBNB INC ABNB 0.06 302224 BBG001Y2XS07 2306
DOORDASH INC CLASS A DASH 0.06 332792 BBG005D7QCJ3 2190
FORTINET INC FTNT 0.06 336031 BBG000BCMBG4 4147
CONSOLIDATED EDISON INC ED 0.06 298985 BBG000BHLYS1 2681
DIAMONDBACK ENERGY INC FANG 0.06 307127 BBG002PHSYX9 1519
PACCAR INC PCAR 0.06 326961 BBG000BQVTF5 2835
EXELON CORP EXC 0.05 254971 BBG000J6XT05 5268
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 276211 BBG000C30L48 261
ESSEX PROPERTY TRUST INC ESS 0.05 262232 BBG000CGJMB9 1076
PPG INDUSTRIES INC PPG 0.05 239475 BBG000BRJ809 2274
IDEXX LABS IDXX 0.05 239635 BBG000BLRT07 418
NXP Semiconductors NV NXPI 0.05 271356 BBG000BND699 1378
MID-AMERICA APARTMENT COMM MAA 0.05 251995 BBG000BLMY92 2063
JOHNSON & JOHNSON JNJ 0.05 268427 BBG000BMHYD1 1122
INVITATION HOMES INC REIT USD.01 INVH 0.05 262354 BBG00FQH6BS9 10566
AUTODESK INC ADSK 0.05 263813 BBG000BM7HL0 1100
FERROVIAL SE FER 0.05 245082 BBG01H7CZ9S9 3897
MCDONALDS CORP MCD 0.05 253323 BBG000BNSZP1 820
ELECTRONIC ARTS INC EA 0.05 273386 BBG000BP0KQ8 1354
XCEL ENERGY INC XEL 0.05 244155 BBG000BCTQ65 3133
MICROCHIP TECHNOLOGY INC MCHP 0.04 194590 BBG000BHCP19 3031
PAYPAL HOLDINGS INC PYPL 0.04 224192 BBG0077VNXV6 4960
AXON ENTERPRISE INC AXON 0.04 189644 BBG000BHJWG1 421
Old Dominion Freight Line Inc. ODFL 0.04 208039 BBG000CHSS88 1107
Omega Healthcare Investors Inc OHI 0.04 202970 BBG000BGBTC2 4556
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 194525 BBG000BS1YV5 999
KIMCO REALTY CORP KIM 0.04 209333 BBG000CN3S73 9404
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 224956 N/A 2489
KEURIG DR PEPPER INC KDP 0.04 190743 BBG000TJM7F0 7325
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 224133 BBG000BFGNJ5 683
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 208040 BBG00CMNZNK7 208040
MICROSTRATEGY INC-CL A MSTR 0.04 194742 BBG000GQJPZ0 1465
Datadog Inc. Class A DDOG 0.04 224983 BBG003NJHZT9 1810
W. P. CAREY REIT INC WPC 0.04 199276 BBG000BCQM58 2947
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 228635 BBG00B6BFWH9 2464
Sun Communities Inc SUI 0.04 209513 BBG000BLJWF3 1639
ROPER TECHNOLOGIES INC ROP 0.04 200110 BBG000F1ZSN5 570
AO Smith Corp AOS 0.04 237180 BBG000BC1L02 3615
PAYCHEX INC PAYX 0.03 178195 BBG000BQSQ38 1904
KRAFT HEINZ CO/THE KHC 0.03 141002 BBG005CPNTQ2 6540
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 163748 BBG000BBDV81 2695
VERISK ANALYTICS INC VRSK 0.03 133368 BBG000BCZL41 718
Zscaler Inc. ZS 0.03 138528 BBG003338H34 979
CHARTER COMMUNICATIONS INC-A CHTR 0.03 148805 BBG000VPGNR2 681
COPART INC CPRT 0.03 167165 BBG000BM9RH1 5061
WORKDAY INC-CLASS A WDAY 0.03 154844 BBG000VC0T95 1210
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 180138 BBG01BFR8YV1 2518
DEXCOM INC DXCM 0.03 145068 BBG000QTF8K1 2195
INSMED INC INSM 0.03 170921 BBG000BWM5P3 1158
COSTAR GROUP INC CSGP 0.02 93420.6 BBG000D7JKW9 2262
Cash & Other Cash&Other 0.02 92832.1 N/A 92832.1
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 65472.9 BBG01BGWHFR5 961
ASTRAZENECA PLC AZNCF 0.00 550.2 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.