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 10/30/2025
TICKER RAA
NET ASSETS $576M
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 $27.65
30 DAY MEDIAN BID-ASK SPREAD 0.00109

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 N/A N/A N/A N/A
RAA - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
RAA - NAV 3.44% 3.44% 6.54% 6.54% - - 9.50% 9.50%
RAA - Market Price 3.45% 3.45% 6.40% 6.40% - - 9.52% 9.52%
S&P 500 Index Total Return 3.65% 3.65% 8.12% 8.12% - - 13.18% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 16
Discount 0 0 5 13 4

Asset Allocation

As of 10/30/2025

Equities

52.17%
Nasdaq
23.21%
US Large Cap
18.01%
Emerging Ex. China
3.14%
US Small Cap
2.94%
Japan
2.02%
Dividend Payers
1.85%
Europe
1.00%

Fixed Income

29.96%
High Yield
8.76%
Corporate Bonds
7.82%
Emerging Mkt Bonds
4.95%
TIPS
3.90%
Long Term Treasuries
2.96%
T-Bills
1.57%

Alternatives

17.87%
Managed Futures
4.08%
Miners
4.08%
Gold
4.04%
Commodities
1.97%
Bitcoin
1.84%
Energy
0.93%
Real Estate
0.93%

Holdings

As of 10/30/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 18.01 103832000 BBG00RYR67P4 794429
Schwab High Yield Bond ETF SCYB 8.76 50467400 BBG01F80WX71 1899410
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 7.82 45083800 BBG000PWYVH7 535691
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.95 28521800 BBG000NXKWH0 295593
SPDR S&P Metals & Mining ETF XME 4.08 23498500 BBG000D83WR4 243710
iM DBi Managed Futures Strategy ETF DBMF 4.08 23493600 N/A 826950
SPROTT PHYSICAL GOLD TRUS PHYS 4.04 23279200 BBG000Q83F79 765007
SCHWAB U.S. TIPS ETF SCHP 3.90 22496200 BBG000BGN6P5 835980
ISHARES MSCI EMR MRK EX CHNA EMXC 3.14 18107200 BBG00H5VLMJ6 250792
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.96 17042600 BBG00PZFJPC3 521658
VANGUARD SMALL-CAP ETF VB 2.94 16943000 BBG000HT3Z79 66926
NVIDIA CORP NVDA 2.36 13622600 BBG000BBJQV0 67143
Franklin FTSE Japan ETF FLJP 2.02 11641600 BBG00J3MDY16 326645
APPLE INC AAPL 1.98 11404800 BBG000B9XRY4 42022
INVESCO OPTIMUM YIELD DIVERS PDBC 1.97 11343900 N/A 837809
MICROSOFT CORP MSFT 1.92 11045700 BBG000BPH459 21009
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.84 10611100 N/A 225194
Broadcom Inc. AVGO 1.44 8329020 BBG00KHY5S69 22124
AMAZON.COM INC AMZN 1.18 6802130 BBG000BVPV84 30522
Franklin FTSE Europe ETF FLEE 1.00 5736560 BBG00J3PR1S7 162660
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5623150 BBG01922X0X9 112463
ALPHABET INC-CL A GOOGL 0.81 4655120 BBG009S39JX6 16538
Tesla Inc. TSLA 0.80 4595080 BBG000N9MNX3 10441
ALPHABET INC-CL C GOOG 0.76 4362120 BBG009S3NB30 15474
META PLATFORMS INC META 0.72 4124120 BBG000MM2P62 6188
NETFLIX INC NFLX 0.55 3192950 BBG000CL9VN6 2932
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.53 3049380 BBG000N7QR55 15674
ADVANCED MICRO DEVICES INC AMD 0.50 2872560 BBG000BBQCY0 11272
COSTCO WHOLESALE CORP COST 0.48 2741940 BBG000F6H8W8 2984
Cash & Other Cash&Other 0.37 2125870 N/A 2125870
CISCO SYSTEMS INC CSCO 0.35 1993360 BBG000C3J3C9 27340
MICRON TECHNOLOGY INC MU 0.30 1720170 BBG000C5Z1S3 7679
T-MOBILE US INC TMUS 0.28 1632330 BBG000NDV1D4 7749
SHOPIFY INC - CLASS A SHOP 0.26 1492700 BBG008HBD923 8598
LAM RESH CORP LRCX 0.24 1394350 BBG000BNFLM9 8660
PEPSICO INC PEP 0.24 1393460 BBG000DH7JK6 9444
LINDE PLC LIN 0.23 1353790 BBG01FND0CC1 3149
QUALCOMM INC QCOM 0.23 1306580 BBG000CGC1X8 7371
INTEL CORP INTC 0.22 1261310 BBG000C0G1D1 31407
APPLIED MATERIALS INC AMAT 0.22 1266930 BBG000BBPFB9 5448
INTUIT INC INTU 0.22 1261830 BBG000BH5DV1 1923
INTUITIVE SURGICAL INC ISRG 0.22 1240250 BBG000BJPDZ1 2340
APPLOVIN CORP APP 0.22 1295230 BBG006HFPX77 2087
AUTOMATIC DATA PROCESSING ADP 0.22 1245930 BBG000JG0547 4764
KLA CORPORATION KLAC 0.19 1105110 BBG000BMTFR4 910
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.19 1114430 BBG00CMNZNK7 1114430
GILEAD SCIENCES INC GILD 0.18 1010410 BBG000CKGBP2 8531
AMGEN INC AMGN 0.18 1049740 BBG000BBS2Y0 3595
TEXAS INSTRUMENTS INC TXN 0.17 1001310 BBG000BVV7G1 6294
PALO ALTO NETWORKS INC PANW 0.17 1006010 BBG0014GJCT9 4609
ADOBE SYSTEMS INC ADBE 0.17 996009 BBG000BB5006 2936
BOOKING HOLDINGS INC BKNG 0.17 985561 BBG000BLBVN4 194
CHEVRON CORP CVX 0.16 904693 BBG000K4ND22 5893
Crowdstrike Holdings Inc. Class A CRWD 0.16 942151 BBG00BLYKS03 1749
REALTY INCOME CORP O 0.15 848007 BBG000DHPN63 14712
HONEYWELL INTERNATIONAL INC HON 0.15 877482 BBG000H556T9 4385
CONSTELLATION ENERGY CORPORATION CEG 0.14 815830 BBG014KFRNP7 2133
WELLTOWER INC WELL 0.14 794425 BBG000BKY1G5 4392
ANALOG DEVICES INC ADI 0.14 796751 BBG000BB6G37 3421
VERTEX PHARMACEUTICALS INC VRTX 0.13 748244 BBG000C1S2X2 1782
PROLOGIS INC PLD 0.13 737554 BBG000B9Z0J8 5937
MERCADOLIBRE INC MELI 0.13 755443 BBG000GQPB11 320
C.H. ROBINSON WORLDWIDE INC CHRW 0.12 688132 BBG000BTCH57 4443
COMCAST CORP-CLASS A CMCSA 0.12 692262 BBG000BFT2L4 25339
DOORDASH INC CLASS A DASH 0.12 711142 BBG005D7QCJ3 2799
CADENCE DESIGN SYS INC CDNS 0.11 624791 BBG000C13CD9 1859
STARBUCKS CORP SBUX 0.11 658548 BBG000CTQBF3 7920
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.11 619798 BBG00LBLDDR2 4557
CANADIAN NATURAL RESOURCES CNQ 0.10 561984 BBG000HW5GX3 17595
SCHLUMBERGER LTD SLB 0.10 601132 BBG000BT41Q8 16551
EXXON MOBIL CORP XOM 0.10 574023 BBG000GZQ728 5005
TARGET CORP TGT 0.10 590042 BBG000H8TVT2 6350
MEDTRONIC PLC MDT 0.10 567107 BBG000BNWG87 6234
ABBVIE INC ABBV 0.10 591266 BBG0025Y4RY4 2591
MARATHON PETROLEUM CORP MPC 0.10 560676 BBG001DCCGR8 2866
OREILLY AUTOMOTIVE INC ORLY 0.10 558150 BBG000BGYWY6 5866
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 508940 BBG000D4LWF6 8809
KENVUE INC KVUE 0.09 492334 BBG01C79X561 34574
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.09 537173 BBG000BRK7L6 13524
Kimberly-Clark Corp KMB 0.09 540584 BBG000BMW2Z0 4497
WILLIAMS COMPANIES INC. WMB 0.09 510225 BBG000BWVCP8 8855
Marriott International, Inc Class A MAR 0.09 498575 BBG000BGD7W6 1901
EQT CORP EQT 0.09 540235 BBG000BHZ5J9 10300
ILLINOIS TOOL WORKS ITW 0.09 528699 BBG000BMBL90 2170
AMCOR PLC AMCR 0.09 542097 BBG00LNJRQ09 69057
CINTAS CORP CTAS 0.09 507601 BBG000H3YXF8 2759
International Business Machines Corporation IBM 0.09 527412 BBG000BLNNH6 1701
SYNOPSYS INC SNPS 0.09 533288 BBG000BSFRF3 1204
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.09 526814 BBG00ZXBJ153 5948
ASML HOLDING NV-NY REG SHS ASML 0.09 537725 BBG000K6MRN4 500
STANLEY BLACK & DECKER INC SWK 0.09 540753 BBG000BTQR96 7885
PAYPAL HOLDINGS INC PYPL 0.08 465185 BBG0077VNXV6 6848
AMERICAN ELECTRIC POWER AEP 0.08 443070 BBG000BB9KF2 3635
CINCINNATI FINANCIAL CORP CINF 0.08 448725 BBG000BFPK65 2907
OCCIDENTAL PETROLEUM CORP OXY 0.08 488115 BBG000BQQ2S6 11993
HORMEL FOODS CORP HRL 0.08 485135 BBG000BLF8D2 22787
MICROSTRATEGY INC-CL A MSTR 0.08 471464 BBG000GQJPZ0 1852
MONSTER BEVERAGE CORP MNST 0.08 452876 BBG008NVB1C0 6803
Cheniere Energy Inc LNG 0.08 486496 BBG000C3HSR0 2300
EQUINIX INC EQIX 0.08 463237 BBG000MBDGM6 556
FRANKLIN RESOURCES INC BEN 0.08 466011 BBG000BD0TF8 20466
CSX CORP CSX 0.08 465601 BBG000BGJRC8 13064
THOMSON REUTERS CORP COMMON STOCK TRI 0.08 470268 N/A 3044
T ROWE PRICE GROUP INC TROW 0.08 464079 BBG000BVMPN3 4544
FORTINET INC FTNT 0.08 447018 BBG000BCMBG4 5309
REGENERON PHARMACEUTICALS REGN 0.07 395694 BBG000C734W3 605
AUTODESK INC ADSK 0.07 423785 BBG000BM7HL0 1409
DIGITAL REALTY TRUST INC DLR 0.07 379065 BBG000Q5ZRM7 2220
PACCAR INC PCAR 0.06 360298 BBG000BQVTF5 3646
Warner Bros Discovery Inc WBD 0.06 369270 BBG011386VF4 17080
EXELON CORP EXC 0.06 325301 BBG000J6XT05 6911
SIMON PROPERTY GROUP INC SPG 0.06 355541 BBG000BJ2D31 2051
Baker Hughes Company BKR 0.06 346230 BBG00GBVBK51 7127
AXON ENTERPRISE INC AXON 0.06 340624 BBG000BHJWG1 461
FASTENAL CO FAST 0.06 327539 BBG000BJ8YN7 7883
CONSOLIDATED EDISON INC ED 0.06 337086 BBG000BHLYS1 3433
Zscaler Inc. ZS 0.06 338464 BBG003338H34 1051
AIRBNB INC ABNB 0.06 372577 BBG001Y2XS07 2949
NXP Semiconductors NV NXPI 0.06 364054 BBG000BND699 1764
EVERSOURCE ENERGY ES 0.06 352690 BBG000BQ87N0 4779
WORKDAY INC-CLASS A WDAY 0.06 330908 BBG000VC0T95 1421
ROSS STORES INC ROST 0.06 343960 BBG000BSBZH7 2176
ASTRAZENECA PLC-SPONS ADR AZN 0.06 322032 BBG000BZ0DK8 3911
Datadog Inc. Class A DDOG 0.06 347596 BBG003NJHZT9 2213
MCDONALDS CORP MCD 0.06 319668 BBG000BNSZP1 1057
ELECTRONIC ARTS INC EA 0.06 349860 BBG000BP0KQ8 1750
XCEL ENERGY INC XEL 0.06 328971 BBG000BCTQ65 4032
ROPER TECHNOLOGIES INC ROP 0.05 285550 BBG000F1ZSN5 644
PAYCHEX INC PAYX 0.05 301047 BBG000BQSQ38 2568
PUBLIC STORAGE PSA 0.05 316248 BBG000BPPN67 1126
GENUINE PARTS CO GPC 0.05 293394 BBG000BKL348 2285
PPG INDUSTRIES INC PPG 0.05 259899 BBG000BRJ809 2667
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 309150 BBG000BS1YV5 1223
IDEXX LABS IDXX 0.05 295414 BBG000BLRT07 470
KEURIG DR PEPPER INC KDP 0.05 261687 BBG000TJM7F0 9454
COPART INC CPRT 0.05 283681 BBG000BM9RH1 6678
DIAMONDBACK ENERGY INC FANG 0.05 284158 BBG002PHSYX9 1999
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 274055 BBG00B6BFWH9 3081
MICROCHIP TECHNOLOGY INC MCHP 0.04 231831 BBG000BHCP19 3735
VERISK ANALYTICS INC VRSK 0.04 205197 BBG000BCZL41 943
COSTAR GROUP INC CSGP 0.04 202095 BBG000D7JKW9 2902
CHARTER COMMUNICATIONS INC-A CHTR 0.04 211985 BBG000VPGNR2 918
AIR PRODUCTS & CHEMICALS INC APD 0.04 250776 BBG000BC4JJ4 1025
IRON MOUNTAIN INC IRM 0.04 217896 BBG000KCZPC3 2151
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 242919 BBG000BBDV81 3365
J M Smucker Co COM STK NPV SJM 0.04 215242 BBG000BT1715 2103
VICI PROPERTIES INC REIT VICI 0.04 254994 BBG00HVVB499 8638
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 227400 BBG01BFR8YV1 3032
Ventas Inc. VTR 0.04 232524 BBG000FRVHB9 3127
KRAFT HEINZ CO/THE KHC 0.03 199811 BBG005CPNTQ2 8129
ON Semiconductor Corporation ON 0.03 144872 BBG000DV7MX4 2849
Old Dominion Freight Line Inc. ODFL 0.03 190778 BBG000CHSS88 1390
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 184128 BBG01BGWHFR5 1146
AVALONBAY COMMUNITIES INC AVB 0.03 196199 BBG000BLPBL5 1123
EQUITY RESIDENTIAL EQR 0.03 157590 BBG000BG8M31 2613
BIOGEN INC BIIB 0.03 147815 BBG000C17X76 988
ARM HOLDINGS PLC ARM 0.03 156847 BBG01J1GXZF0 948
EXTRA SPACE STORAGE INC EXR 0.03 201661 BBG000PV27K3 1496
TRADE DESK INC/THE -CLASS A TTD 0.03 148036 BBG00629NGT2 3023
DEXCOM INC DXCM 0.03 182026 BBG000QTF8K1 2669
GLOBALFOUNDRIES INC GFS 0.02 143447 BBG000C2L5G9 3978
ESSEX PROPERTY TRUST INC ESS 0.02 89935.2 BBG000CGJMB9 360
MID-AMERICA APARTMENT COMM MAA 0.02 88750.1 BBG000BLMY92 689
LULULEMON ATHLETICA INC LULU 0.02 117446 BBG000R8ZVD1 699
CDW CORP/DE CDW 0.02 142531 BBG001P63B80 909
KIMCO REALTY CORP KIM 0.02 108329 BBG000CN3S73 5161
INVITATION HOMES INC REIT USD.01 INVH 0.02 107617 BBG00FQH6BS9 3788
W. P. CAREY REIT INC WPC 0.02 109115 BBG000BCQM58 1672
Sun Communities Inc SUI 0.02 107266 BBG000BLJWF3 873
Alexandria Real Estate Equitie ARE 0.01 72604.6 BBG000BC33T9 1288
Solstice Advanced Materials Inc. SOLSV 0.01 53431.2 BBG01X5744P5 1096.25

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.