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 06/26/2026
TICKER RAA
NET ASSETS $586M
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 $29.18
30 DAY MEDIAN BID-ASK SPREAD 0.000676

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 3.18% -3.97% 5.74% 0.68% 10.86% 0.68% 19.02% 11.92%
RAA - Market Price 3.12% -3.98% 5.76% 0.63% 10.84% 0.63% 19.02% 11.89%
S&P 500 Index Total Return 5.26% -4.98% 10.52% -4.33% 11.27% -4.33% 22.66% 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 06/26/2026

NET ASSET VALUE

$29.18

CLOSING PRICE

$29.21

PREMIUM/DISCOUNT

0.12%
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 38
Discount 5 13 16 8 14

Asset Allocation

As of 6/26/2026

Equities

42.76%
Nasdaq
17.03%
US Large Cap
15.12%
Dividend Payers
3.29%
US Small Cap
2.12%
Emerging Ex. China
2.08%
Japan
2.08%
Europe
1.03%

Fixed Income

19.72%
High Yield
6.20%
Emerging Mkt Bonds
4.16%
Corporate Bonds
4.15%
TIPS
3.08%
T-Bills
1.09%
Long Term Treasuries
1.05%

Alternatives

37.52%
Managed Futures
10.23%
Commodities
9.51%
Energy
4.92%
Gold
4.55%
Miners
3.68%
Bitcoin
2.46%
Real Estate
2.16%

Holdings

As of 06/26/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.12 88559800 BBG00RYR67P4 628440
INVESCO OPTIMUM YIELD DIVERS PDBC 9.51 55680200 N/A 3456250
iM DBi Managed Futures Strategy ETF DBMF 9.21 53934900 N/A 1767200
SCHWAB HIGH YIELD BOND ETF SCYB 6.20 36287500 BBG01F80WX71 1387140
SPROTT PHYSICAL GOLD TRUS PHYS 4.55 26667800 BBG000Q83F79 880125
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.16 24346600 BBG000NXKWH0 252140
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.15 24282100 BBG000PWYVH7 293297
SCHWAB U.S. TIPS ETF SCHP 3.08 18036600 BBG000BGN6P5 680115
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.46 14407200 N/A 550314
VANGUARD SMALL-CAP ETF VB 2.12 12394900 BBG000HT3Z79 41370
ISHARES MSCI EMR MRK EX CHNA EMXC 2.08 12207000 BBG00H5VLMJ6 120148
Franklin FTSE Japan ETF FLJP 2.08 12188300 BBG00J3MDY16 304937
NVIDIA CORP NVDA 1.33 7774600 BBG000BBJQV0 39719
APPLE INC AAPL 1.14 6694670 BBG000B9XRY4 24331
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.05 6164420 BBG00PZFJPC3 195200
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.04 6094860 BBG01922X0X9 121946
Franklin FTSE Europe ETF FLEE 1.03 6053530 BBG00J3PR1S7 154677
Simplify DBi CTA Managed Futures Index ETF SDMF 1.02 5968350 BBG020BR8WR7 236230
MICRON TECHNOLOGY INC MU 1.01 5924600 BBG000C5Z1S3 4882
BHP GROUP LTD BHP 0.74 4347170 BBG000BD5NZ4 53563
AMAZON.COM INC AMZN 0.69 4037150 BBG000BVPV84 17784
MICROSOFT CORP MSFT 0.69 4030380 BBG000BPH459 11423
ADVANCED MICRO DEVICES INC AMD 0.68 3994280 BBG000BBQCY0 7500
CHEVRON CORP CVX 0.58 3379350 BBG000K4ND22 19620
ALPHABET INC-CL A GOOGL 0.57 3353920 BBG009S39JX6 9758
WILLIAMS COMPANIES INC. WMB 0.56 3289750 BBG000BWVCP8 42432
Cheniere Energy Inc LNG 0.54 3158330 BBG000C3HSR0 13434
ALPHABET INC-CL C GOOG 0.53 3116320 BBG009S3NB30 9107
Tesla Inc. TSLA 0.53 3110870 BBG000N9MNX3 8293
INTEL CORP INTC 0.53 3087230 BBG000C0G1D1 23235
MARATHON PETROLEUM CORP MPC 0.53 3086840 BBG001DCCGR8 12174
EXXON MOBIL CORP XOM 0.49 2875620 BBG000GZQ728 20906
EQT CORP EQT 0.49 2849630 BBG000BHZ5J9 55172
Broadcom Inc. AVGO 0.47 2764530 BBG00KHY5S69 7296
OCCIDENTAL PETROLEUM CORP OXY 0.47 2755250 BBG000BQQ2S6 53803
CANADIAN NATURAL RESOURCES CNQ 0.46 2676680 BBG000HW5GX3 67593
META PLATFORMS INC META 0.46 2669830 BBG000MM2P62 4918
WAL-MART STORES INC WMT 0.45 2663870 BBG000BWXBC2 23008
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.45 2661680 BBG000BRK7L6 48964
SCHLUMBERGER LTD SLB 0.45 2623270 BBG000BT41Q8 55320
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2523820 BBG000BPWXK1 26469
RIO TINTO PLC-SPON ADR RIO 0.42 2433480 BBG000FD28T3 25586
APPLIED MATERIALS INC AMAT 0.40 2318630 BBG000BBPFB9 3471
LAM RESH CORP LRCX 0.39 2276710 BBG000BNFLM9 5666
CISCO SYSTEMS INC CSCO 0.36 2111240 BBG000C3J3C9 17746
COSTCO WHOLESALE CORP COST 0.34 1996610 BBG000F6H8W8 2119
FREEPORT-MCMORAN INC FCX 0.33 1919800 BBG000BJDB15 30570
AGNICO EAGLE MINES LTD AEM 0.32 1853700 BBG000DLVDK3 11869
GLENCORE PLC -UNSP ADR GLNCY 0.28 1642170 BBG001VKX1Z1 119779
WELLTOWER INC WELL 0.28 1640610 BBG000BKY1G5 7333
REALTY INCOME CORP O 0.27 1595300 BBG000DHPN63 25714
SANDISK CORP/DE SNDKV SNDK 0.26 1527090 BBG01R388JG1 654
KLA CORPORATION KLAC 0.25 1457820 BBG000BMTFR4 5633
PROLOGIS INC PLD 0.24 1429890 BBG000B9Z0J8 10175
NETFLIX INC NFLX 0.23 1371630 BBG000CL9VN6 19346
Barrick Mining Corp. B 0.23 1368500 N/A 37238
TEXAS INSTRUMENTS INC TXN 0.22 1310540 BBG000BVV7G1 4203
AUTOMATIC DATA PROCESSING ADP 0.22 1280770 BBG000JG0547 5921
EQUINIX INC EQIX 0.21 1238790 BBG000MBDGM6 1139
NUCOR CORP NUE 0.21 1215830 BBG000BQ8KV2 4885
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1212190 N/A 49477
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1127750 BBG000PVRDL2 9973
LINDE PLC LIN 0.19 1106190 BBG01FND0CC1 2118
STANLEY BLACK & DECKER INC SWK 0.18 1053260 BBG000BTQR96 11410
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1051630 BBG00ZXBJ153 3739
WESTERN DIGITAL CORP WDC 0.18 1029290 BBG000BWNFZ9 1524
PALO ALTO NETWORKS INC PANW 0.17 1024060 BBG0014GJCT9 3494
HORMEL FOODS CORP HRL 0.17 1010330 BBG000BLF8D2 38829
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1008950 BBG0113JGQF0 984
AMCOR PLC COMMON STOCK USD.01 AMCR 0.17 1001980 N/A 23378
Kimberly-Clark Corp KMB 0.17 994736 BBG000BMW2Z0 9202
ILLINOIS TOOL WORKS ITW 0.17 993102 BBG000BMBL90 3670
KENVUE INC KVUE 0.17 990243 BBG01C79X561 52228
MEDTRONIC PLC MDT 0.17 983713 BBG000BNWG87 12217
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.17 982164 BBG000N7QR55 9156
QUALCOMM INC QCOM 0.16 955654 BBG000CGC1X8 4664
VALE SA-SP ADR VALE 0.16 954994 BBG000BN5LG7 63161
FRANKLIN RESOURCES INC BEN 0.16 952858 BBG000BD0TF8 29184
ANALOG DEVICES INC ADI 0.16 943268 BBG000BB6G37 2257
CLOROX COMPANY CLX 0.16 943078 BBG000BFS7D3 9899
FRANCO-NEVADA CORP FNV 0.16 941430 BBG000RD3CL8 4483
SIMON PROPERTY GROUP INC SPG 0.16 933529 BBG000BJ2D31 4140
T ROWE PRICE GROUP INC TROW 0.16 922712 BBG000BVMPN3 8677
T-MOBILE US INC TMUS 0.16 921468 BBG000NDV1D4 5075
EVERSOURCE ENERGY ES 0.16 919525 BBG000BQ87N0 12757
GENUINE PARTS CO GPC 0.15 889344 BBG000BKL348 7871
PEPSICO INC PEP 0.15 879953 BBG000DH7JK6 6307
AMGEN INC AMGN 0.15 871113 BBG000BBS2Y0 2469
ABBVIE INC ABBV 0.15 859014 BBG0025Y4RY4 3533
AO Smith Corp AOS 0.14 832224 BBG000BC1L02 13614
PPG INDUSTRIES INC PPG 0.14 826690 BBG000BRJ809 6754
DIGITAL REALTY TRUST INC DLR 0.14 800743 BBG000Q5ZRM7 4161
PUBLIC STORAGE PSA 0.13 759833 BBG000BPPN67 2369
ASML HOLDING NV-NY REG SHS ASML 0.12 721743 BBG000K6MRN4 392
J M Smucker Co COM STK NPV SJM 0.12 721575 BBG000BT1715 6414
Crowdstrike Holdings Inc. Class A CRWD 0.12 719369 BBG00BLYKS03 1060
GILEAD SCIENCES INC GILD 0.12 705393 BBG000CKGBP2 5696
International Business Machines Corporation IBM 0.12 704819 BBG000BLNNH6 2729
Ventas Inc. VTR 0.12 694369 BBG000FRVHB9 7942
HONEYWELL INTERNATIONAL INC HON 0.11 660884 BBG000H556T9 2858
INTUITIVE SURGICAL INC ISRG 0.11 645100 BBG000BJPDZ1 1614
BOOKING HOLDINGS INC BKNG 0.11 636849 BBG000BLBVN4 3597
IRON MOUNTAIN INC IRM 0.11 630136 BBG000KCZPC3 4808
APPLOVIN CORP APP 0.10 612708 BBG006HFPX77 1374
SHOPIFY INC - CLASS A SHOP 0.10 596944 BBG008HBD923 5348
STARBUCKS CORP SBUX 0.09 552216 BBG000CTQBF3 5353
VERTEX PHARMACEUTICALS INC VRTX 0.09 552207 BBG000C1S2X2 1150
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 541096 BBG000BBTJZ1 2353
EXTRA SPACE STORAGE INC EXR 0.08 493822 BBG000PV27K3 3355
FORTINET INC FTNT 0.08 477077 BBG000BCMBG4 3182
Marriott International, Inc Class A MAR 0.08 461512 BBG000BGD7W6 1218
VICI PROPERTIES INC REIT VICI 0.08 459314 BBG00HVVB499 17313
CADENCE DESIGN SYS INC CDNS 0.08 452186 BBG000C13CD9 1228
CONSTELLATION ENERGY CORPORATION CEG 0.08 443607 BBG014KFRNP7 1651
FASTENAL CO FAST 0.08 441470 BBG000BJ8YN7 9409
EQUITY RESIDENTIAL EQR 0.07 437948 BBG000BG8M31 6520
AVALONBAY COMMUNITIES INC AVB 0.07 432194 BBG000BLPBL5 2322
MONSTER BEVERAGE CORP MNST 0.07 428935 BBG008NVB1C0 4476
CSX CORP CSX 0.07 415337 BBG000BGJRC8 8755
SYNOPSYS INC SNPS 0.07 404513 BBG000BSFRF3 889
COMCAST CORP-CLASS A CMCSA 0.06 377743 BBG000BFT2L4 16648
MERCADOLIBRE INC MELI 0.06 374047 BBG000GQPB11 231
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 356245 BBG000D4LWF6 5821
NXP Semiconductors NV NXPI 0.06 349707 BBG000BND699 1171
AMERICAN ELECTRIC POWER AEP 0.06 347569 BBG000BB9KF2 2537
OREILLY AUTOMOTIVE INC ORLY 0.06 337693 BBG000BGYWY6 3886
ADOBE SYSTEMS INC ADBE 0.06 336533 BBG000BB5006 1740
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 322179 BBG000C30L48 224
DOORDASH INC CLASS A DASH 0.05 318084 BBG005D7QCJ3 1798
CINTAS CORP CTAS 0.05 315353 BBG000H3YXF8 1865
ESSEX PROPERTY TRUST INC ESS 0.05 315269 BBG000CGJMB9 1104
Datadog Inc. Class A DDOG 0.05 310200 BBG003NJHZT9 1404
Warner Bros Discovery Inc WBD 0.05 309434 BBG011386VF4 11469
INVITATION HOMES INC REIT USD.01 INVH 0.05 307744 BBG00FQH6BS9 10289
INTUIT INC INTU 0.05 306084 BBG000BH5DV1 1200
ROSS STORES INC ROST 0.05 303764 BBG000BSBZH7 1412
PACCAR INC PCAR 0.05 293249 BBG000BQVTF5 2410
REGENERON PHARMACEUTICALS REGN 0.05 290846 BBG000C734W3 469
LUMENTUM HOLDINGS INC LITE 0.05 286174 BBG0073F9RT7 332
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 284414 BBG00CMNZNK7 284414
AIRBNB INC ABNB 0.05 268437 BBG001Y2XS07 1892
HOST HOTELS & RESORTS INC HST 0.04 262440 BBG000BL8804 10506
MID-AMERICA APARTMENT COMM MAA 0.04 257795 BBG000BLMY92 1867
KIMCO REALTY CORP KIM 0.04 257063 BBG000CN3S73 10073
Baker Hughes Company BKR 0.04 256287 BBG00GBVBK51 4501
W. P. CAREY REIT INC WPC 0.04 239854 BBG000BCQM58 3270
DIAMONDBACK ENERGY INC FANG 0.04 236402 BBG002PHSYX9 1295
Sun Communities Inc SUI 0.04 235026 BBG000BLJWF3 1982
MICROCHIP TECHNOLOGY INC MCHP 0.04 233418 BBG000BHCP19 2480
XCEL ENERGY INC XEL 0.04 232170 BBG000BCTQ65 2840
FERROVIAL SE FER 0.04 230747 BBG01H7CZ9S9 3287
ELECTRONIC ARTS INC EA 0.04 228069 BBG000BP0KQ8 1114
EXELON CORP EXC 0.04 225195 BBG000J6XT05 4817
ARM HOLDINGS PLC ARM 0.04 214885 BBG01J1GXZF0 618
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 214036 BBG00LBLDDR2 2920
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 211949 BBG00B6BFWH9 2128
KEURIG DR PEPPER INC KDP 0.03 204681 BBG000TJM7F0 6294
Old Dominion Freight Line Inc. ODFL 0.03 204712 BBG000CHSS88 930
IDEXX LABS IDXX 0.03 201443 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 199809 BBG000BS1YV5 837
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 197949 BBG000B9ZXB4 2123
CONSOLIDATED EDISON INC ED 0.03 190618 BBG000BHLYS1 1721
AUTODESK INC ADSK 0.03 185366 BBG000BM7HL0 977
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 182059 BBG000BFGNJ5 621
AIR PRODUCTS & CHEMICALS INC APD 0.03 181675 BBG000BC4JJ4 649
PAYPAL HOLDINGS INC PYPL 0.03 178250 BBG0077VNXV6 4206
MCDONALDS CORP MCD 0.03 170893 BBG000BNSZP1 646
AXON ENTERPRISE INC AXON 0.03 161437 BBG000BHJWG1 363
THOMSON REUTERS CORP TRI 0.03 153838 N/A 1899
ROPER TECHNOLOGIES INC ROP 0.03 154243 BBG000F1ZSN5 464
PAYCHEX INC PAYX 0.03 151173 BBG000BQSQ38 1563
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 138257 BBG01BFR8YV1 2129
COPART INC CPRT 0.02 132641 BBG000BM9RH1 4414
KRAFT HEINZ CO/THE KHC 0.02 129531 BBG005CPNTQ2 5519
VERISK ANALYTICS INC VRSK 0.02 116138 BBG000BCZL41 656
MICROSTRATEGY INC-CL A MSTR 0.02 115963 BBG000GQJPZ0 1359
DEXCOM INC DXCM 0.02 113684 BBG000QTF8K1 1656
Zscaler Inc. ZS 0.02 112782 BBG003338H34 911
INSMED INC INSM 0.02 100500 BBG000BWM5P3 962
WORKDAY INC-CLASS A WDAY 0.02 96363.2 BBG000VC0T95 847
COGNIZANT TECH SOLUTIONS-A CTSH 0.01 81823.5 BBG000BBDV81 2090
CHARTER COMMUNICATIONS INC-A CHTR 0.01 77141.8 BBG000VPGNR2 595
EURO EUR 0.00 1948.22 N/A 1713.03

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.