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 08/19/2026
TICKER RAA
NET ASSETS $615M
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 $30.32
30 DAY MEDIAN BID-ASK SPREAD 0.000679

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 16.01% NA NA 14.22%
RAA - Market Price 16.17% NA NA 14.27%
S&P 500 Index Total Return 19.56% NA NA 18.87%
1 MO 3 MO YTD Since Inception
RAA - NAV -0.15% -2.77% 0.18% 7.07% 7.63% 7.79% 14.22% 15.31%
RAA - Market Price -0.16% -2.70% 0.16% 7.15% 7.66% 7.83% 14.27% 15.38%
S&P 500 Index Total Return -0.06% -0.95% 4.19% 15.20% 10.14% 10.21% 18.87% 20.23%
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 08/19/2026

NET ASSET VALUE

$30.32

CLOSING PRICE

$30.32

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 18
Discount 13 16 8 14 10

Asset Allocation

As of 8/19/2026

Equities

40.28%
Nasdaq
16.26%
US Large Cap
10.03%
Dividend Payers
4.96%
Emerging Ex. China
3.03%
US Small Cap
3.02%
Japan
1.99%
Europe
0.99%

Fixed Income

24.53%
Long Term Treasuries
5.92%
High Yield
5.88%
Corporate Bonds
3.91%
Emerging Mkt Bonds
3.91%
TIPS
2.93%
T-Bills
1.98%

Alternatives

35.19%
Managed Futures
10.68%
Commodities
9.13%
Energy
5.13%
Real Estate
3.72%
Miners
3.34%
Bitcoin
2.11%
Gold
1.08%

Holdings

As of 08/19/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.03 61713600 BBG00RYR67P4 1255110
iM DBi Managed Futures Strategy ETF DBMF 9.30 57222800 N/A 1849480
INVESCO OPTIMUM YIELD DIVERS PDBC 9.13 56214200 N/A 3066790
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.92 36426400 BBG00PZFJPC3 1204580
SCHWAB HIGH YIELD BOND ETF SCYB 5.88 36169800 BBG01F80WX71 1389010
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.91 24084800 BBG000NXKWH0 253231
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.91 24092000 BBG000PWYVH7 295898
ISHARES MSCI EMR MRK EX CHNA EMXC 3.03 18674700 BBG00H5VLMJ6 194245
VANGUARD SMALL-CAP ETF VB 3.02 18589800 BBG000HT3Z79 60761
SCHWAB U.S. TIPS ETF SCHP 2.93 18022700 BBG000BGN6P5 691583
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.11 12997300 N/A 429378
Franklin FTSE Japan ETF FLJP 1.99 12217300 BBG00J3MDY16 302484
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.94 11950200 BBG01922X0X9 239196
Simplify DBi CTA Managed Futures Index ETF SDMF 1.38 8506500 BBG020BR8WR7 331121
APPLE INC AAPL 1.34 8219520 BBG000B9XRY4 25943
NVIDIA CORP NVDA 1.33 8198100 BBG000BBJQV0 37682
SPROTT PHYSICAL GOLD TRUS PHYS 1.08 6632280 BBG000Q83F79 194552
Franklin FTSE Europe ETF FLEE 0.99 6072580 BBG00J3PR1S7 151587
MICROSOFT CORP MSFT 0.90 5561520 BBG000BPH459 11505
MICRON TECHNOLOGY INC MU 0.80 4916050 BBG000C5Z1S3 5246
BHP GROUP LTD BHP 0.71 4347040 BBG000BD5NZ4 47102
CHEVRON CORP CVX 0.65 4017460 BBG000K4ND22 19525
AMAZON.COM INC AMZN 0.65 3976700 BBG000BVPV84 14959
MARATHON PETROLEUM CORP MPC 0.56 3436870 BBG001DCCGR8 9527
ADVANCED MICRO DEVICES INC AMD 0.55 3387140 BBG000BBQCY0 7262
WELLTOWER INC WELL 0.54 3329690 BBG000BKY1G5 14125
OCCIDENTAL PETROLEUM CORP OXY 0.52 3170170 BBG000BQQ2S6 52757
SCHLUMBERGER LTD SLB 0.52 3226820 BBG000BT41Q8 60258
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.52 3185000 BBG023CY9MM1 19330
Cheniere Energy Inc LNG 0.51 3112760 BBG000C3HSR0 11348
CANADIAN NATURAL RESOURCES CNQ 0.50 3100180 BBG000HW5GX3 62630
WILLIAMS COMPANIES INC. WMB 0.50 3060990 BBG000BWVCP8 41794
EQT CORP EQT 0.49 3020150 BBG000BHZ5J9 56304
Suncor Energy Inc. SU 0.49 3004710 BBG000BC1LY5 44534
ALPHABET INC-CL A GOOGL 0.49 3020780 BBG009S39JX6 8763
REALTY INCOME CORP O 0.47 2889030 BBG000DHPN63 45894
ALPHABET INC-CL C GOOG 0.46 2821080 BBG009S3NB30 8256
Tesla Inc. TSLA 0.45 2763670 BBG000N9MNX3 7871
PROLOGIS INC PLD 0.44 2678910 BBG000B9Z0J8 18959
Broadcom Inc. AVGO 0.44 2722220 BBG00KHY5S69 7510
NEWMONT GOLDCORP CORPORATION COM NEM 0.41 2548500 BBG000BPWXK1 20375
META PLATFORMS INC META 0.41 2549960 BBG000MM2P62 4670
WAL-MART STORES INC WMT 0.40 2452650 BBG000BWXBC2 21458
EQUINIX INC EQIX 0.37 2253250 BBG000MBDGM6 2092
INTEL CORP INTC 0.33 2026750 BBG000C0G1D1 21840
AUTOMATIC DATA PROCESSING ADP 0.33 2058080 BBG000JG0547 7424
PEPSICO INC PEP 0.32 1951490 BBG000DH7JK6 13687
AGNICO EAGLE MINES LTD AEM 0.32 1957760 BBG000DLVDK3 9425
RIO TINTO PLC-SPON ADR RIO 0.31 1910970 BBG000FD28T3 19026
FREEPORT-MCMORAN INC FCX 0.31 1904540 BBG000BJDB15 27566
CISCO SYSTEMS INC CSCO 0.30 1877030 BBG000C3J3C9 16979
COSTCO WHOLESALE CORP COST 0.30 1859430 BBG000F6H8W8 1943
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1791320 BBG000N7QR55 10225
APPLIED MATERIALS INC AMAT 0.27 1652960 BBG000BBPFB9 3335
MEDTRONIC PLC MDT 0.27 1644170 BBG000BNWG87 17467
CLOROX COMPANY CLX 0.27 1684640 BBG000BFS7D3 15613
SIMON PROPERTY GROUP INC SPG 0.27 1671620 BBG000BJ2D31 7490
AO Smith Corp AOS 0.26 1586640 BBG000BC1L02 24869
DIGITAL REALTY TRUST INC DLR 0.26 1627090 BBG000Q5ZRM7 8459
LAM RESH CORP LRCX 0.26 1628310 BBG000BNFLM9 5301
ABBVIE INC ABBV 0.26 1576400 BBG0025Y4RY4 5927
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1582270 N/A 33346
PUBLIC STORAGE PSA 0.25 1555750 BBG000BPPN67 4785
NETFLIX INC NFLX 0.25 1537740 BBG000CL9VN6 19169
STANLEY BLACK & DECKER INC SWK 0.25 1559080 BBG000BTQR96 15622
KENVUE INC KVUE 0.24 1481160 BBG01C79X561 77426
Kimberly-Clark Corp KMB 0.24 1492830 BBG000BMW2Z0 13586
HORMEL FOODS CORP HRL 0.24 1449950 BBG000BLF8D2 59400
FRANKLIN RESOURCES INC BEN 0.24 1486150 BBG000BD0TF8 43736
T ROWE PRICE GROUP INC TROW 0.24 1490750 BBG000BVMPN3 13283
Barrick Mining Corp ABX 0.24 1460990 N/A 32373
GENUINE PARTS CO GPC 0.23 1416710 BBG000BKL348 10530
EQUITY RESIDENTIAL EQR 0.23 1439500 BBG000BG8M31 22369.9
International Business Machines Corporation IBM 0.23 1410390 BBG000BLNNH6 5947
PPG INDUSTRIES INC PPG 0.22 1345620 BBG000BRJ809 11812
EVERSOURCE ENERGY ES 0.22 1366950 BBG000BQ87N0 18988
Ventas Inc. VTR 0.22 1350010 BBG000FRVHB9 14698
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1281200 BBG000PVRDL2 8700
GLENCORE PLC -UNSP ADR GLNCY 0.21 1280820 BBG001VKX1Z1 81581
PALO ALTO NETWORKS INC PANW 0.21 1290100 BBG0014GJCT9 3586
SPACE EXPLORATION TECH CORP A SPCX 0.20 1222080 BBG000NQF3Z5 8751
ILLINOIS TOOL WORKS ITW 0.19 1182480 BBG000BMBL90 4160
TEXAS INSTRUMENTS INC TXN 0.18 1093870 BBG000BVV7G1 4090
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1131280 BBG000BBTJZ1 4231
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1093730 N/A 40255
NUCOR CORP NUE 0.17 1035260 BBG000BQ8KV2 4162
AMGEN INC AMGN 0.17 1027160 BBG000BBS2Y0 2322
LINDE PLC LIN 0.17 1021440 BBG01FND0CC1 2123
SANDISK CORP/DE SNDKV SNDK 0.17 1027610 BBG01R388JG1 655
IRON MOUNTAIN INC IRM 0.16 1000690 BBG000KCZPC3 8197
KLA CORPORATION KLAC 0.16 1011070 BBG000BMTFR4 5399
FRANCO-NEVADA CORP FNV 0.15 910631 BBG000TRN6Z1 3627
EXTRA SPACE STORAGE INC EXR 0.15 951357 BBG000PV27K3 6432
T-MOBILE US INC TMUS 0.15 893746 BBG000NDV1D4 4901
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 875289 BBG00ZXBJ153 3689
Crowdstrike Holdings Inc. Class A CRWD 0.14 883341 BBG00BLYKS03 4381
VICI PROPERTIES INC REIT VICI 0.14 842574 BBG00HVVB499 31952
QUALCOMM INC QCOM 0.13 779597 BBG000CGC1X8 4815
GILEAD SCIENCES INC GILD 0.13 810472 BBG000CKGBP2 5491
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 782606 BBG0113JGQF0 940
SHOPIFY INC - CLASS A SHOP 0.13 811907 BBG004DW5NB8 5539
ANALOG DEVICES INC ADI 0.13 783846 BBG000BB6G37 2100
VALE SA-SP ADR VALE 0.12 714530 BBG000BN5LG7 51405
BOOKING HOLDINGS INC BKNG 0.12 719940 BBG000BLBVN4 3380
WESTERN DIGITAL CORP WDC 0.11 690362 BBG000BWNFZ9 1494
ASML HOLDING NV-NY REG SHS ASML 0.11 690182 BBG000K6MRN4 394
INTUITIVE SURGICAL INC ISRG 0.10 602546 BBG000BJPDZ1 1515
VERTEX PHARMACEUTICALS INC VRTX 0.10 622172 BBG000C1S2X2 1127
FASTENAL CO FAST 0.09 583175 BBG000BJ8YN7 11337
ESSEX PROPERTY TRUST INC ESS 0.09 541386 BBG000CGJMB9 1884
STARBUCKS CORP SBUX 0.09 535713 BBG000CTQBF3 5103
INVITATION HOMES INC REIT USD.01 INVH 0.09 545412 BBG00FQH6BS9 18060
Sun Communities Inc SUI 0.08 471396 BBG000BLJWF3 3862
ARM HOLDINGS PLC ARM 0.08 482224 BBG01J1GXZF0 1934
MID-AMERICA APARTMENT COMM MAA 0.08 470794 BBG000BLMY92 3581
W. P. CAREY REIT INC WPC 0.08 467603 BBG000BCQM58 6499
HOST HOTELS & RESORTS INC HST 0.07 439480 BBG000BL8804 18984
CONSTELLATION ENERGY CORPORATION CEG 0.07 432914 BBG014KFRNP7 1579
Marriott International, Inc Class A MAR 0.07 400530 BBG000BGD7W6 1115
DOORDASH INC CLASS A DASH 0.07 401021 BBG005D7QCJ3 1821
ADOBE SYSTEMS INC ADBE 0.07 457205 BBG000BB5006 1678
KIMCO REALTY CORP KIM 0.07 456268 BBG000CN3S73 18761
MONSTER BEVERAGE CORP MNST 0.07 410744 BBG008NVB1C0 8660
MERCADOLIBRE INC MELI 0.07 423720 BBG000GQPB11 222
INTUIT INC INTU 0.07 412491 BBG000BH5DV1 1138
CSX CORP CSX 0.07 419326 BBG000BGJRC8 8274
FORTINET INC FTNT 0.07 453659 BBG000BCMBG4 2968
APPLOVIN CORP APP 0.07 425782 BBG006HFPX77 1370
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 369882 BBG000D4LWF6 5765
CADENCE DESIGN SYS INC CDNS 0.06 388370 BBG000C13CD9 1233
COMCAST CORP-CLASS A CMCSA 0.06 397015 BBG000BFT2L4 14931
AIRBNB INC ABNB 0.06 366629 BBG001Y2XS07 1967
REGENERON PHARMACEUTICALS REGN 0.06 395195 BBG000C734W3 470
CINTAS CORP CTAS 0.06 354781 BBG000H3YXF8 1747
Datadog Inc. Class A DDOG 0.06 359154 BBG003NJHZT9 1538
PACCAR INC PCAR 0.05 285533 BBG000BQVTF5 2240
Warner Bros Discovery Inc WBD 0.05 325099 BBG011386VF4 11395
NXP Semiconductors NV NXPI 0.05 284785 BBG000BND699 1260
ROSS STORES INC ROST 0.05 334199 BBG000BSBZH7 1424
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 323150 BBG000B9ZXB4 2824
SYNOPSYS INC SNPS 0.05 310560 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 294730 BBG000BNSZP1 1102
CONSOLIDATED EDISON INC ED 0.05 294732 BBG000BHLYS1 2729
OREILLY AUTOMOTIVE INC ORLY 0.05 304608 BBG000BGYWY6 3340
AMERICAN ELECTRIC POWER AEP 0.05 292694 BBG000BB9KF2 2318
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 323504 BBG022XF4SZ9 1459
XCEL ENERGY INC XEL 0.04 241883 BBG000BCTQ65 3046
PAYPAL HOLDINGS INC PYPL 0.04 255596 BBG0077VNXV6 4173
ASTERA LABS INC ALAB 0.04 216476 BBG00TDKHW99 749
AXON ENTERPRISE INC AXON 0.04 220191 BBG000BHJWG1 341
Baker Hughes Company BKR 0.04 254374 BBG00GBVBK51 3945
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 270429 BBG000C30L48 208
TERADYNE INC TER 0.04 237281 BBG000BV4DR6 625
AUTODESK INC ADSK 0.04 256316 BBG000BM7HL0 1020
DIAMONDBACK ENERGY INC FANG 0.04 246089 BBG002PHSYX9 1180
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 244262 BBG00LBLDDR2 2708
LUMENTUM HOLDINGS INC LITE 0.04 270625 BBG0073F9RT7 327
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 232456 BBG00B6BFWH9 2179
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 244140 BBG020QYV152 1433
PAYCHEX INC PAYX 0.03 188160 BBG000BQSQ38 1536
MICROCHIP TECHNOLOGY INC MCHP 0.03 182834 BBG000BHCP19 2372
ROPER TECHNOLOGIES INC ROP 0.03 186145 BBG000F1ZSN5 457
Old Dominion Freight Line Inc. ODFL 0.03 172882 BBG000CHSS88 843
IDEXX LABS IDXX 0.03 181028 BBG000BLRT07 322
EXELON CORP EXC 0.03 176444 BBG000J6XT05 3895
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 175410 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 178005 BBG000TJM7F0 5731
FERROVIAL SA FER 0.03 176718 BBG01H0DF657 2733.88
Nebius Group NV NBIS 0.03 210242 BBG001NVJ6W4 939
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.03 179890 BBG00CMNZNK7 179890
ROCKET LAB CORP RKLB 0.03 208257 BBG01V7JN3F3 2746
THOMSON REUTERS CORP TRI 0.03 192688 N/A 1836
KRAFT HEINZ CO/THE KHC 0.02 118102 BBG005CPNTQ2 4599
WORKDAY INC-CLASS A WDAY 0.02 148220 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 142169 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 131033 BBG01BFR8YV1 1756
COREWEAVE INC CRWV 0.02 150208 BBG011ZTRJ21 1653
COPART INC CPRT 0.02 139022 BBG000BM9RH1 4107
DEXCOM INC DXCM 0.02 128708 BBG000QTF8K1 1432
MICROSTRATEGY INC-CL A MSTR 0.02 132710 BBG000GQJPZ0 1273
Cash & Other Cash&Other 0.00 26629.1 N/A 26629.1

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.