RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 11/12/2026
TICKER RAA
NET ASSETS $604M
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 $29.59
30 DAY MEDIAN BID-ASK SPREAD 0.000673

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 10.34% NA NA 13.35%
RAA - Market Price 10.25% NA NA 13.33%
S&P 500 Index Total Return 12.11% NA NA 16.84%
1 MO 3 MO YTD Since Inception
RAA - NAV 0.07% -1.49% 2.09% 1.87% 9.88% 9.81% 13.35% 14.06%
RAA - Market Price -0.03% -1.49% 1.99% 1.86% 9.80% 9.83% 13.33% 14.11%
S&P 500 Index Total Return -0.87% -0.35% 1.48% 2.30% 11.77% 12.75% 16.84% 18.46%
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 11/12/2026

NET ASSET VALUE

$29.59

CLOSING PRICE

$29.59

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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 10
Discount 16 8 14 21 15

Asset Allocation

As of 11/12/2026

Equities

56.58%
Nasdaq
27.13%
US Large Cap
20.33%
Dividend Payers
3.08%
US Small Cap
2.04%
Emerging Ex. China
2.00%
Europe
1.00%
Japan
1.00%

Fixed Income

20.10%
High Yield
5.05%
Corporate Bonds
5.00%
Emerging Mkt Bonds
3.01%
TIPS
3.00%
T-Bills
2.06%
Long Term Treasuries
1.98%

Alternatives

23.27%
Managed Futures
8.01%
Commodities
5.55%
Energy
3.71%
Miners
2.08%
Bitcoin
1.87%
Real Estate
1.04%
Gold
1.01%

Holdings

As of 11/12/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 20.33 122841000 BBG00RYR67P4 2540650
iM DBi Managed Futures Strategy ETF DBMF 6.21 37506600 N/A 1160480
INVESCO OPTIMUM YIELD DIVERS PDBC 5.55 33542600 N/A 1821980
SCHWAB HIGH YIELD BOND ETF SCYB 5.05 30523600 BBG01F80WX71 1217050
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.00 30197300 BBG000PWYVH7 383409
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.01 18187300 BBG000NXKWH0 199117
SCHWAB U.S. TIPS ETF SCHP 2.97 17954800 BBG000BGN6P5 711645
APPLE INC AAPL 2.23 13494700 BBG000B9XRY4 38026
Vanguard Morningstar Small-Cap ETF VB 2.04 12307600 BBG000HT3Z79 42210
ISHARES MSCI EMR MRK EX CHNA EMXC 2.03 12248900 BBG00H5VLMJ6 136661
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.02 12217100 BBG01922X0X9 244783
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.98 11939700 BBG00PZFJPC3 410722
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.87 11304300 N/A 358640
Simplify DBi CTA Managed Futures Index ETF SDMF 1.80 10885400 BBG020BR8WR7 404575
NVIDIA CORP NVDA 1.80 10894100 BBG000BBJQV0 65552
MICROSOFT CORP MSFT 1.70 10255500 BBG000BPH459 19609
ADVANCED MICRO DEVICES INC AMD 1.28 7742350 BBG000BBQCY0 13228
AMAZON.COM INC AMZN 1.26 7599040 BBG000BVPV84 28414
MICRON TECHNOLOGY INC MU 1.07 6469760 BBG000C5Z1S3 8103
Franklin FTSE Europe ETF FLEE 1.03 6201430 BBG00J3PR1S7 160037
SPROTT PHYSICAL GOLD TRUS PHYS 1.01 6090860 BBG000Q83F79 207950
Franklin FTSE Japan ETF FLJP 1.00 6051810 BBG00J3MDY16 154976
Tesla Inc. TSLA 0.91 5480440 BBG000N9MNX3 13789
META PLATFORMS INC META 0.81 4867280 BBG000MM2P62 7805
Broadcom Inc. AVGO 0.80 4815380 BBG00KHY5S69 13216
ALPHABET INC-CL A GOOGL 0.77 4643290 BBG009S39JX6 15545
SPACE EXPLORATION TECH CORP A SPCX 0.75 4509710 BBG000NQF3Z5 32226
WAL-MART STORES INC WMT 0.71 4288060 BBG000BWXBC2 33981
ALPHABET INC-CL C GOOG 0.71 4292910 BBG009S3NB30 14535
COSTCO WHOLESALE CORP COST 0.56 3391310 BBG000F6H8W8 3105
INTEL CORP INTC 0.55 3314160 BBG000C0G1D1 54153
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.50 3001960 BBG000N7QR55 17496
CISCO SYSTEMS INC CSCO 0.49 2978080 BBG000C3J3C9 29194
CHEVRON CORP CVX 0.46 2800220 BBG000K4ND22 12943
BHP GROUP LTD BHP 0.43 2608120 BBG000BD5NZ4 32395
APPLIED MATERIALS INC AMAT 0.39 2343220 BBG000BBPFB9 6151
SCHLUMBERGER LTD SLB 0.39 2334990 BBG000BT41Q8 45865
MARATHON PETROLEUM CORP MPC 0.38 2282230 BBG001DCCGR8 5528
EQT CORP EQT 0.38 2303470 BBG000BHZ5J9 43993
Cheniere Energy Inc LNG 0.38 2297270 BBG000C3HSR0 7423
WILLIAMS COMPANIES INC. WMB 0.38 2293050 BBG000BWVCP8 33022
LAM RESH CORP LRCX 0.37 2238910 BBG000BNFLM9 9577
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.37 2213590 BBG023CY9MM1 13038
OCCIDENTAL PETROLEUM CORP OXY 0.37 2229420 BBG000BQQ2S6 38175
Suncor Energy Inc. SU 0.35 2138500 BBG000BC1LY5 30863
CANADIAN NATURAL RESOURCES CNQ 0.35 2138300 BBG000HW5GX3 43541
TEXAS INSTRUMENTS INC TXN 0.35 2111740 BBG000BVV7G1 6758
PALO ALTO NETWORKS INC PANW 0.32 1957580 BBG0014GJCT9 6067
NETFLIX INC NFLX 0.31 1847160 BBG000CL9VN6 29465
PEPSICO INC PEP 0.30 1816090 BBG000DH7JK6 12766
Crowdstrike Holdings Inc. Class A CRWD 0.29 1750000 BBG00BLYKS03 7613
AUTOMATIC DATA PROCESSING ADP 0.29 1769920 BBG000JG0547 5748
AMGEN INC AMGN 0.29 1752880 BBG000BBS2Y0 3753
Kimberly-Clark Corp KMB 0.27 1626160 BBG000BMW2Z0 15170.8
LINDE PLC LIN 0.27 1661520 BBG01FND0CC1 3180
KLA CORPORATION KLAC 0.26 1578510 BBG000BMTFR4 10035
NEWMONT GOLDCORP CORPORATION COM NEM 0.26 1565470 BBG000BPWXK1 13898
ANALOG DEVICES INC ADI 0.25 1525010 BBG000BB6G37 3726
QUALCOMM INC QCOM 0.25 1522520 BBG000CGC1X8 8595
GILEAD SCIENCES INC GILD 0.24 1424550 BBG000CKGBP2 8482
SHOPIFY INC - CLASS A SHOP 0.23 1390300 BBG004DW5NB8 9472
T-MOBILE US INC TMUS 0.20 1189680 BBG000NDV1D4 6956
AGNICO EAGLE MINES LTD AEM 0.20 1199990 BBG000DLVDK3 6726
FREEPORT-MCMORAN INC FCX 0.19 1125160 BBG000BJDB15 18613
RIO TINTO PLC-SPON ADR RIO 0.19 1118870 BBG000FD28T3 13435
SANDISK CORP/DE SNDKV SNDK 0.19 1169010 BBG01R388JG1 1247
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1145390 BBG00ZXBJ153 6965
INTUITIVE SURGICAL INC ISRG 0.19 1166590 BBG000BJPDZ1 2652
REALTY INCOME CORP O 0.18 1072430 BBG000DHPN63 18097
CLOROX COMPANY CLX 0.18 1109160 BBG000BFS7D3 10251
STANLEY BLACK & DECKER INC SWK 0.17 1001130 BBG000BTQR96 8858
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1000880 BBG0113JGQF0 1836
ASML HOLDING NV-NY REG SHS ASML 0.17 1049480 BBG000K6MRN4 701
FRANKLIN RESOURCES INC BEN 0.17 1044750 BBG000BD0TF8 29134
T ROWE PRICE GROUP INC TROW 0.16 951903 BBG000BVMPN3 8796
VERTEX PHARMACEUTICALS INC VRTX 0.16 947957 BBG000C1S2X2 1747
APPLOVIN CORP APP 0.16 940108 BBG006HFPX77 2388
MEDTRONIC PLC MDT 0.16 951427 BBG000BNWG87 9421
ILLINOIS TOOL WORKS ITW 0.15 931364 BBG000BMBL90 3248
AO Smith Corp AOS 0.15 921376 BBG000BC1L02 14401
WESTERN DIGITAL CORP WDC 0.15 890994 BBG000BWNFZ9 2863
HORMEL FOODS CORP HRL 0.15 932621 BBG000BLF8D2 42722
WELLTOWER INC WELL 0.15 881748 BBG000BKY1G5 3600
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.15 923315 BBG000B9ZXB4 8609
BOOKING HOLDINGS INC BKNG 0.14 862420 BBG000BLBVN4 5350
STARBUCKS CORP SBUX 0.14 873300 BBG000CTQBF3 8190
Barrick Mining Corp. B 0.14 818971 N/A 21643
AMCOR PLC COMMON STOCK USD.01 AMCR 0.14 849326 N/A 19391
GENUINE PARTS CO GPC 0.14 867496 BBG000BKL348 7062
GLENCORE PLC -UNSP ADR GLNCY 0.14 835144 BBG001VKX1Z1 61771
EVERSOURCE ENERGY ES 0.14 823063 BBG000BQ87N0 11568
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 769448 BBG000PVRDL2 5838
Marriott International, Inc Class A MAR 0.13 775429 BBG000BGD7W6 1826
International Business Machines Corporation IBM 0.12 755052 BBG000BLNNH6 3086
ADOBE SYSTEMS INC ADBE 0.12 696775 BBG000BB5006 2921
FORTINET INC FTNT 0.12 699646 BBG000BCMBG4 5401
NUCOR CORP NUE 0.12 704807 BBG000BQ8KV2 2703
PPG INDUSTRIES INC PPG 0.12 750373 BBG000BRJ809 6133
ARM HOLDINGS PLC ARM 0.12 722604 BBG01J1GXZF0 3617
CONSTELLATION ENERGY CORPORATION CEG 0.12 724074 BBG014KFRNP7 2564
MODERNA INC MRNA 0.11 637601 BBG003PHHZT1 2756
MONSTER BEVERAGE CORP MNST 0.11 646866 BBG008NVB1C0 14195
INTUIT INC INTU 0.11 667073 BBG000BH5DV1 1961
CSX CORP CSX 0.11 675174 BBG000BGJRC8 12885
SYNOPSYS INC SNPS 0.11 665348 BBG000BSFRF3 1438
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.11 678007 N/A 26980
CADENCE DESIGN SYS INC CDNS 0.11 683306 BBG000C13CD9 2050
REGENERON PHARMACEUTICALS REGN 0.10 632541 BBG000C734W3 665
PROLOGIS INC PLD 0.10 608170 BBG000B9Z0J8 4731
CINTAS CORP CTAS 0.10 622888 BBG000H3YXF8 2744
EQUINIX INC EQIX 0.10 578223 BBG000MBDGM6 539
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 611010 BBG000BBTJZ1 2263
COMCAST CORP-CLASS A CMCSA 0.10 592274 BBG000BFT2L4 23882
FRANCO-NEVADA CORP FNV 0.10 609391 BBG000TRN6Z1 2460
AIRBNB INC ABNB 0.09 535239 BBG001Y2XS07 2955
MERCADOLIBRE INC MELI 0.09 548734 BBG000GQPB11 372
DOORDASH INC CLASS A DASH 0.09 525679 BBG005D7QCJ3 3046
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 561966 BBG000D4LWF6 8443
MONOLITHIC POWER SYSTEMS INC MPWR 0.09 516722 BBG000C30L48 357
ROSS STORES INC ROST 0.09 564631 BBG000BSBZH7 2380
OREILLY AUTOMOTIVE INC ORLY 0.08 500009 BBG000BGYWY6 5461
Datadog Inc. Class A DDOG 0.08 483470 BBG003NJHZT9 2621
SIMON PROPERTY GROUP INC SPG 0.08 457175 BBG000BJ2D31 1957
AMERICAN ELECTRIC POWER AEP 0.08 478385 BBG000BB9KF2 3711
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.08 491386 BBG022XF4SZ9 2206
LUMENTUM HOLDINGS INC LITE 0.08 464740 BBG0073F9RT7 744
ROPER TECHNOLOGIES INC ROP 0.08 496507 BBG000F1ZSN5 1039
NXP Semiconductors NV NXPI 0.08 508386 BBG000BND699 1902
DIGITAL REALTY TRUST INC DLR 0.07 439044 BBG000Q5ZRM7 2393
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.07 406440 BBG00CMNZNK7 406440
HONEYWELL AEROSPACE INC HONAV HONAV 0.07 393846 BBG020QYV152 2375
PUBLIC STORAGE PSA 0.07 436329 BBG000BPPN67 1309
FASTENAL CO FAST 0.07 452732 BBG000BJ8YN7 8150
VALE SA-SP ADR VALE 0.07 424715 BBG000BN5LG7 37652
FERROVIAL SA FER 0.06 332914 BBG01H0DF657 5442.88
PACCAR INC PCAR 0.06 380768 BBG000BQVTF5 3581
DIAMONDBACK ENERGY INC FANG 0.06 367133 BBG002PHSYX9 2015
AUTODESK INC ADSK 0.06 383252 BBG000BM7HL0 1477
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 358654 BBG00LBLDDR2 4626
Ventas Inc. VTR 0.06 384330 BBG000FRVHB9 4287
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 373358 BBG00B6BFWH9 3193
Vivmark Residential VMRK 0.06 375525 BBG000BG8M31 5874
XCEL ENERGY INC XEL 0.06 371314 BBG000BCTQ65 4556
PAYPAL HOLDINGS INC PYPL 0.06 373120 BBG0077VNXV6 6400
EXELON CORP EXC 0.06 358789 BBG000J6XT05 7863
IDEXX LABS IDXX 0.06 376233 BBG000BLRT07 539
KEURIG DR PEPPER INC KDP 0.06 361780 BBG000TJM7F0 10214
THOMSON REUTERS CORP TRI 0.05 280226 N/A 2565
ROCKET LAB CORP RKLB 0.05 289148 BBG01V7JN3F3 4513
MICROSTRATEGY INC-CL A MSTR 0.05 323780 BBG000GQJPZ0 2830
PAYCHEX INC PAYX 0.05 311447 BBG000BQSQ38 2704
IRON MOUNTAIN INC IRM 0.05 302033 BBG000KCZPC3 2636
ASTERA LABS INC ALAB 0.05 330523 BBG00TDKHW99 1451
Baker Hughes Company BKR 0.05 325359 BBG00GBVBK51 6659
TERADYNE INC TER 0.05 299620 BBG000BV4DR6 1136
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 288907 BBG000BS1YV5 1273
EXTRA SPACE STORAGE INC EXR 0.04 253120 BBG000PV27K3 1600
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 260660 BBG01BFR8YV1 3185
WORKDAY INC-CLASS A WDAY 0.04 234678 BBG000VC0T95 1231
Nebius Group NV NBIS 0.04 259081 BBG001NVJ6W4 2014
VICI PROPERTIES INC REIT VICI 0.04 247430 BBG00HVVB499 9977
DEXCOM INC DXCM 0.04 239856 BBG000QTF8K1 2947
MICROCHIP TECHNOLOGY INC MCHP 0.04 247327 BBG000BHCP19 3984
Old Dominion Freight Line Inc. ODFL 0.04 240839 BBG000CHSS88 1403
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 167929 BBG000BFGNJ5 1072
ABBVIE INC ABBV 0.03 181087 BBG0025Y4RY4 615
COREWEAVE INC CRWV 0.03 192157 BBG011ZTRJ21 3395
COPART INC CPRT 0.03 192962 BBG000BM9RH1 6031
CONSOLIDATED EDISON INC ED 0.03 185828 BBG000BHLYS1 1557
MCDONALDS CORP MCD 0.03 191541 BBG000BNSZP1 700
AXON ENTERPRISE INC AXON 0.03 174438 BBG000BHJWG1 568
AIR PRODUCTS & CHEMICALS INC APD 0.03 182764 BBG000BC4JJ4 578
INVITATION HOMES INC REIT USD.01 INVH 0.02 121524 BBG00FQH6BS9 4560
W. P. CAREY REIT INC WPC 0.02 122542 BBG000BCQM58 1887
REGENCY CENTERS CORP REG 0.02 122699 BBG000BL46Q4 1620
HOST HOTELS & RESORTS INC HST 0.02 122981 BBG000BL8804 4819
Omega Healthcare Investors Inc OHI 0.02 121431 BBG000BGBTC2 2582
ESSEX PROPERTY TRUST INC ESS 0.02 123941 BBG000CGJMB9 456
MID-AMERICA APARTMENT COMM MAA 0.02 120046 BBG000BLMY92 1030
KIMCO REALTY CORP KIM 0.02 126613 BBG000CN3S73 4973
Cash & Other Cash&Other 0.00 -26718.6 N/A -26718.6

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.