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 05/07/2026
TICKER RAA
NET ASSETS $585M
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 $29.84
30 DAY MEDIAN BID-ASK SPREAD 0.000685

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 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 05/07/2026

NET ASSET VALUE

$29.84

CLOSING PRICE

$29.86

PREMIUM/DISCOUNT

0.05%
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 14
Discount 5 13 16 8 7

Asset Allocation

As of 5/7/2026

Equities

46.35%
Nasdaq
18.28%
US Large Cap
14.07%
US Small Cap
3.98%
Dividend Payers
3.95%
Emerging Ex. China
2.08%
Japan
2.02%
Europe
1.97%

Fixed Income

26.64%
Long Term Treasuries
6.86%
Corporate Bonds
5.90%
High Yield
5.88%
Emerging Mkt Bonds
3.95%
TIPS
2.91%
T-Bills
1.14%

Alternatives

27.01%
Miners
7.09%
Managed Futures
5.89%
Gold
5.00%
Commodities
3.84%
Bitcoin
2.27%
Energy
1.95%
Real Estate
0.97%

Holdings

As of 05/07/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.07 82280900 BBG00RYR67P4 587931
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.86 40135000 BBG00PZFJPC3 1290100
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.90 34494300 BBG000PWYVH7 417606
SCHWAB HIGH YIELD BOND ETF SCYB 5.88 34399900 BBG01F80WX71 1315990
iM DBi Managed Futures Strategy ETF DBMF 5.49 32103000 N/A 1050840
SPROTT PHYSICAL GOLD TRUS PHYS 5.00 29240300 BBG000Q83F79 821358
VANGUARD SMALL-CAP ETF VB 3.98 23254500 BBG000HT3Z79 81145
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.95 23086100 BBG000NXKWH0 240731
INVESCO OPTIMUM YIELD DIVERS PDBC 3.84 22437700 N/A 1243090
SCHWAB U.S. TIPS ETF SCHP 2.91 16996200 BBG000BGN6P5 634660
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.27 13263800 N/A 374155
ISHARES MSCI EMR MRK EX CHNA EMXC 2.08 12177100 BBG00H5VLMJ6 127415
Franklin FTSE Japan ETF FLJP 2.02 11785400 BBG00J3MDY16 302966
Franklin FTSE Europe ETF FLEE 1.97 11539800 BBG00J3PR1S7 300673
NVIDIA CORP NVDA 1.69 9895240 BBG000BBJQV0 46786
BHP GROUP LTD BHP 1.37 8040040 BBG000BD5NZ4 97396
APPLE INC AAPL 1.31 7670910 BBG000B9XRY4 26687
MICROSOFT CORP MSFT 1.04 6081390 BBG000BPH459 14453
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5736150 BBG01922X0X9 114976
AMAZON.COM INC AMZN 0.93 5424480 BBG000BVPV84 20004
NEWMONT GOLDCORP CORPORATION COM NEM 0.92 5366600 BBG000BPWXK1 47287
RIO TINTO PLC-SPON ADR RIO 0.81 4747910 BBG000FD28T3 46047
AGNICO EAGLE MINES LTD AEM 0.77 4479820 BBG000DLVDK3 23858
ALPHABET INC-CL A GOOGL 0.68 3948860 BBG009S39JX6 9922
FREEPORT-MCMORAN INC FCX 0.66 3873340 BBG000BJDB15 63906
Tesla Inc. TSLA 0.64 3734520 BBG000N9MNX3 9069
MICRON TECHNOLOGY INC MU 0.64 3733640 BBG000C5Z1S3 5774
META PLATFORMS INC META 0.63 3671870 BBG000MM2P62 5953
ALPHABET INC-CL C GOOG 0.63 3670360 BBG009S3NB30 9285
Broadcom Inc. AVGO 0.60 3533160 BBG00KHY5S69 8564
ADVANCED MICRO DEVICES INC AMD 0.56 3262370 BBG000BBQCY0 7987
Barrick Mining Corp. B 0.55 3215660 N/A 76856
GLENCORE PLC -UNSP ADR GLNCY 0.54 3151950 BBG001VKX1Z1 209015
WAL-MART STORES INC WMT 0.54 3131730 BBG000BWXBC2 24099
INTEL CORP INTC 0.48 2811970 BBG000C0G1D1 25652
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.46 2691980 BBG000PVRDL2 20462
Simplify DBi CTA Managed Futures Index ETF SDMF 0.40 2358030 BBG020BR8WR7 92903
COSTCO WHOLESALE CORP COST 0.39 2252850 BBG000F6H8W8 2226
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.37 2160940 N/A 84643
FRANCO-NEVADA CORP FNV 0.35 2049260 BBG000RD3CL8 8986
NETFLIX INC NFLX 0.32 1872490 BBG000CL9VN6 21218
CHEVRON CORP CVX 0.31 1799270 BBG000K4ND22 9859
CISCO SYSTEMS INC CSCO 0.31 1816100 BBG000C3J3C9 19706
LAM RESH CORP LRCX 0.30 1758950 BBG000BNFLM9 6139
VALE SA-SP ADR VALE 0.29 1717420 BBG000BN5LG7 106079
APPLIED MATERIALS INC AMAT 0.28 1617100 BBG000BBPFB9 3938
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.27 1590880 BBG000N7QR55 11608
AUTOMATIC DATA PROCESSING ADP 0.27 1600750 BBG000JG0547 7477
REALTY INCOME CORP O 0.23 1372110 BBG000DHPN63 22206
TEXAS INSTRUMENTS INC TXN 0.22 1270740 BBG000BVV7G1 4455
KLA CORPORATION KLAC 0.21 1227220 BBG000BMTFR4 696
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1212810 N/A 30381
KENVUE INC KVUE 0.20 1168280 BBG01C79X561 65930
Kimberly-Clark Corp KMB 0.20 1173020 BBG000BMW2Z0 11782
FRANKLIN RESOURCES INC BEN 0.20 1167300 BBG000BD0TF8 38247
LINDE PLC LIN 0.20 1163020 BBG01FND0CC1 2355
STANLEY BLACK & DECKER INC SWK 0.20 1176130 BBG000BTQR96 14665
ILLINOIS TOOL WORKS ITW 0.20 1142470 BBG000BMBL90 4471
T ROWE PRICE GROUP INC TROW 0.20 1174190 BBG000BVMPN3 11335
HORMEL FOODS CORP HRL 0.19 1119630 BBG000BLF8D2 53958
MEDTRONIC PLC MDT 0.19 1113660 BBG000BNWG87 14285
PPG INDUSTRIES INC PPG 0.19 1135600 BBG000BRJ809 10425
WILLIAMS COMPANIES INC. WMB 0.19 1100450 BBG000BWVCP8 15085
CLOROX COMPANY CLX 0.19 1097950 BBG000BFS7D3 11920
EVERSOURCE ENERGY ES 0.19 1101600 BBG000BQ87N0 16432
MARATHON PETROLEUM CORP MPC 0.19 1124570 BBG001DCCGR8 4642
T-MOBILE US INC TMUS 0.19 1092380 BBG000NDV1D4 5625
EXXON MOBIL CORP XOM 0.19 1083230 BBG000GZQ728 7390
PEPSICO INC PEP 0.18 1062770 BBG000DH7JK6 6800
OCCIDENTAL PETROLEUM CORP OXY 0.18 1024750 BBG000BQQ2S6 18998
CANADIAN NATURAL RESOURCES CNQ 0.18 1078140 BBG000HW5GX3 24098
EQT CORP EQT 0.18 1069590 BBG000BHZ5J9 19025
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.18 1077650 BBG000BRK7L6 16907
Cheniere Energy Inc LNG 0.18 1032530 BBG000C3HSR0 4184
SCHLUMBERGER LTD SLB 0.18 1074470 BBG000BT41Q8 20273
ABBVIE INC ABBV 0.18 1028960 BBG0025Y4RY4 5076
SANDISK CORP/DE SNDKV SNDK 0.17 968791 BBG01R388JG1 723
ANALOG DEVICES INC ADI 0.17 982899 BBG000BB6G37 2406
AO Smith Corp AOS 0.16 964102 BBG000BC1L02 16007
GENUINE PARTS CO GPC 0.16 947776 BBG000BKL348 9005
QUALCOMM INC QCOM 0.16 949554 BBG000CGC1X8 4688
AMGEN INC AMGN 0.15 866823 BBG000BBS2Y0 2634
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.15 857470 BBG00CMNZNK7 857470
INTUITIVE SURGICAL INC ISRG 0.14 812654 BBG000BJPDZ1 1792
J M Smucker Co COM STK NPV SJM 0.14 831915 BBG000BT1715 8366
PALO ALTO NETWORKS INC PANW 0.14 833287 BBG0014GJCT9 4240
GILEAD SCIENCES INC GILD 0.14 829563 BBG000CKGBP2 6188
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 839252 BBG0113JGQF0 1095
International Business Machines Corporation IBM 0.14 821121 BBG000BLNNH6 3576
APPLOVIN CORP APP 0.14 795698 BBG006HFPX77 1595
WESTERN DIGITAL CORP WDC 0.13 753390 BBG000BWNFZ9 1624
WELLTOWER INC WELL 0.13 735955 BBG000BKY1G5 3456
HONEYWELL INTERNATIONAL INC HON 0.12 690128 BBG000H556T9 3194
SHOPIFY INC - CLASS A SHOP 0.12 704186 BBG008HBD923 6302
BOOKING HOLDINGS INC BKNG 0.12 715265 BBG000BLBVN4 4176
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 674762 BBG00ZXBJ153 4217
PROLOGIS INC PLD 0.12 693521 BBG000B9Z0J8 4874
Crowdstrike Holdings Inc. Class A CRWD 0.11 659965 BBG00BLYKS03 1305
ASML HOLDING NV-NY REG SHS ASML 0.11 653655 BBG000K6MRN4 431
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 593462 BBG000BBTJZ1 2738
STARBUCKS CORP SBUX 0.10 605646 BBG000CTQBF3 5809
INTUIT INC INTU 0.10 586984 BBG000BH5DV1 1443
CADENCE DESIGN SYS INC CDNS 0.09 508939 BBG000C13CD9 1426
EQUINIX INC EQIX 0.09 514178 BBG000MBDGM6 482
ADOBE SYSTEMS INC ADBE 0.09 535849 BBG000BB5006 2089
CONSTELLATION ENERGY CORPORATION CEG 0.09 544740 BBG014KFRNP7 1750
VERTEX PHARMACEUTICALS INC VRTX 0.09 538475 BBG000C1S2X2 1267
FASTENAL CO FAST 0.08 487428 BBG000BJ8YN7 10988
COMCAST CORP-CLASS A CMCSA 0.08 476204 BBG000BFT2L4 18148
Marriott International, Inc Class A MAR 0.08 464002 BBG000BGD7W6 1318
MERCADOLIBRE INC MELI 0.08 473113 BBG000GQPB11 253
SYNOPSYS INC SNPS 0.08 489024 BBG000BSFRF3 968
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 390116 BBG000D4LWF6 6363
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 381382 BBG000C30L48 242
DIGITAL REALTY TRUST INC DLR 0.07 392871 BBG000Q5ZRM7 2017
FORTINET INC FTNT 0.07 410934 BBG000BCMBG4 3806
CSX CORP CSX 0.07 419436 BBG000BGJRC8 9434
SIMON PROPERTY GROUP INC SPG 0.07 399779 BBG000BJ2D31 1985
PUBLIC STORAGE PSA 0.06 355420 BBG000BPPN67 1149
Warner Bros Discovery Inc WBD 0.06 339000 BBG011386VF4 12500
REGENERON PHARMACEUTICALS REGN 0.06 362350 BBG000C734W3 511
NXP Semiconductors NV NXPI 0.06 377866 BBG000BND699 1302
DOORDASH INC CLASS A DASH 0.06 352467 BBG005D7QCJ3 2057
ROSS STORES INC ROST 0.06 368372 BBG000BSBZH7 1641
MONSTER BEVERAGE CORP MNST 0.06 379014 BBG008NVB1C0 4989
CINTAS CORP CTAS 0.06 342120 BBG000H3YXF8 2012
OREILLY AUTOMOTIVE INC ORLY 0.06 376712 BBG000BGYWY6 3983
Datadog Inc. Class A DDOG 0.06 326503 BBG003NJHZT9 1730
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 336912 BBG00LBLDDR2 3319
AMERICAN ELECTRIC POWER AEP 0.06 358550 BBG000BB9KF2 2741
PACCAR INC PCAR 0.05 296530 BBG000BQVTF5 2600
Ventas Inc. VTR 0.05 283711 BBG000FRVHB9 3278
MICROCHIP TECHNOLOGY INC MCHP 0.05 272641 BBG000BHCP19 2684
Baker Hughes Company BKR 0.05 310026 BBG00GBVBK51 4880
AIRBNB INC ABNB 0.05 297775 BBG001Y2XS07 2120
AUTODESK INC ADSK 0.05 275391 BBG000BM7HL0 1097
DIAMONDBACK ENERGY INC FANG 0.05 264345 BBG002PHSYX9 1388
CONSOLIDATED EDISON INC ED 0.05 288636 BBG000BHLYS1 2713
MICROSTRATEGY INC-CL A MSTR 0.05 270479 BBG000GQJPZ0 1504
XCEL ENERGY INC XEL 0.04 242577 BBG000BCTQ65 3016
PAYPAL HOLDINGS INC PYPL 0.04 217188 BBG0077VNXV6 4699
AIR PRODUCTS & CHEMICALS INC APD 0.04 228617 BBG000BC4JJ4 775
EXELON CORP EXC 0.04 232664 BBG000J6XT05 5239
IDEXX LABS IDXX 0.04 234030 BBG000BLRT07 409
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 217242 BBG000BS1YV5 972
VICI PROPERTIES INC REIT VICI 0.04 230608 BBG00HVVB499 8010
EXTRA SPACE STORAGE INC EXR 0.04 232384 BBG000PV27K3 1622
FERROVIAL SE FER 0.04 251618 BBG01H7CZ9S9 3593
MCDONALDS CORP MCD 0.04 222421 BBG000BNSZP1 784
AVALONBAY COMMUNITIES INC AVB 0.04 232423 BBG000BLPBL5 1251
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 215144 BBG00B6BFWH9 2301
ELECTRONIC ARTS INC EA 0.04 256285 BBG000BP0KQ8 1276
PAYCHEX INC PAYX 0.03 179754 BBG000BQSQ38 1907
ROPER TECHNOLOGIES INC ROP 0.03 181859 BBG000F1ZSN5 516
IRON MOUNTAIN INC IRM 0.03 175885 BBG000KCZPC3 1387
Old Dominion Freight Line Inc. ODFL 0.03 204596 BBG000CHSS88 1033
AXON ENTERPRISE INC AXON 0.03 179294 BBG000BHJWG1 420
EQUITY RESIDENTIAL EQR 0.03 173080 BBG000BG8M31 2628
KEURIG DR PEPPER INC KDP 0.03 190000 BBG000TJM7F0 6662
COPART INC CPRT 0.03 169807 BBG000BM9RH1 5012
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 192637 BBG000BFGNJ5 651
THOMSON REUTERS CORP TRI 0.03 199220 N/A 2133.67
INSMED INC INSM 0.02 110670 BBG000BWM5P3 1054
Sun Communities Inc SUI 0.02 112959 BBG000BLJWF3 896
KRAFT HEINZ CO/THE KHC 0.02 138176 BBG005CPNTQ2 5845
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 130785 BBG000BBDV81 2518
ESSEX PROPERTY TRUST INC ESS 0.02 117375 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 112926 BBG000BGBTC2 2448
MID-AMERICA APARTMENT COMM MAA 0.02 117063 BBG000BLMY92 898
CHARTER COMMUNICATIONS INC-A CHTR 0.02 102554 BBG000VPGNR2 640
VERISK ANALYTICS INC VRSK 0.02 124554 BBG000BCZL41 713
Zscaler Inc. ZS 0.02 134302 BBG003338H34 879
KIMCO REALTY CORP KIM 0.02 114779 BBG000CN3S73 4878
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 135255 BBG01BFR8YV1 2205
INVITATION HOMES INC REIT USD.01 INVH 0.02 113794 BBG00FQH6BS9 3928
WORKDAY INC-CLASS A WDAY 0.02 142790 BBG000VC0T95 1091
DEXCOM INC DXCM 0.02 118835 BBG000QTF8K1 1951
W. P. CAREY REIT INC WPC 0.02 116466 BBG000BCQM58 1576
Cash & Other Cash&Other 0.01 80028 N/A 80028

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.