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 07/27/2026
TICKER RAA
NET ASSETS $594M
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 $29.36
30 DAY MEDIAN BID-ASK SPREAD 0.000681

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/27/2026

NET ASSET VALUE

$29.36

CLOSING PRICE

$29.36

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 8
Discount 13 16 8 14 5

Asset Allocation

As of 7/27/2026

Equities

39.66%
Nasdaq
15.12%
US Large Cap
9.93%
Dividend Payers
4.08%
Emerging Ex. China
3.60%
US Small Cap
2.95%
Europe
2.01%
Japan
1.97%

Fixed Income

26.70%
High Yield
6.00%
Corporate Bonds
5.95%
Long Term Treasuries
5.87%
Emerging Mkt Bonds
3.95%
TIPS
2.97%
T-Bills
1.96%

Alternatives

33.64%
Commodities
7.66%
Managed Futures
7.17%
Miners
6.02%
Energy
4.38%
Gold
4.09%
Bitcoin
2.22%
Real Estate
2.10%

Holdings

As of 07/27/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.93 59060400 BBG00RYR67P4 1252610
INVESCO OPTIMUM YIELD DIVERS PDBC 7.66 45545900 N/A 2626640
SCHWAB HIGH YIELD BOND ETF SCYB 6.00 35647200 BBG01F80WX71 1374220
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.95 35345400 BBG000PWYVH7 434646
iM DBi Managed Futures Strategy ETF DBMF 5.94 35287600 N/A 1128480
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.87 34904200 BBG00PZFJPC3 1147030
SPROTT PHYSICAL GOLD TRUS PHYS 4.09 24305300 BBG000Q83F79 788109
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.95 23500500 BBG000NXKWH0 247478
ISHARES MSCI EMR MRK EX CHNA EMXC 3.60 21412900 BBG00H5VLMJ6 233510
SCHWAB U.S. TIPS ETF SCHP 2.97 17628800 BBG000BGN6P5 676730
VANGUARD SMALL-CAP ETF VB 2.95 17526600 BBG000HT3Z79 59036
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.22 13214300 N/A 460108
Franklin FTSE Europe ETF FLEE 2.01 11927800 BBG00J3PR1S7 307930
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 11894700 BBG01922X0X9 238643
Franklin FTSE Japan ETF FLJP 1.97 11723500 BBG00J3MDY16 299756
BHP GROUP LTD BHP 1.26 7494780 BBG000BD5NZ4 89298
APPLE INC AAPL 1.23 7315330 BBG000B9XRY4 21713
Simplify DBi CTA Managed Futures Index ETF SDMF 1.23 7304920 BBG020BR8WR7 281324
NVIDIA CORP NVDA 1.19 7079670 BBG000BBJQV0 36027
MICROSOFT CORP MSFT 0.73 4343130 BBG000BPH459 11162
MICRON TECHNOLOGY INC MU 0.71 4219240 BBG000C5Z1S3 4687
NEWMONT GOLDCORP CORPORATION COM NEM 0.68 4050340 BBG000BPWXK1 43333
RIO TINTO PLC-SPON ADR RIO 0.66 3933070 BBG000FD28T3 42774
AMAZON.COM INC AMZN 0.64 3785540 BBG000BVPV84 16360
CHEVRON CORP CVX 0.58 3466170 BBG000K4ND22 18243
FREEPORT-MCMORAN INC FCX 0.54 3197150 BBG000BJDB15 50975
ADVANCED MICRO DEVICES INC AMD 0.53 3159760 BBG000BBQCY0 6384
AGNICO EAGLE MINES LTD AEM 0.49 2893950 BBG000DLVDK3 19827
GLENCORE PLC -UNSP ADR GLNCY 0.48 2849270 BBG001VKX1Z1 206021
MARATHON PETROLEUM CORP MPC 0.48 2857070 BBG001DCCGR8 9147
ALPHABET INC-CL A GOOGL 0.48 2850540 BBG009S39JX6 8729
Suncor Energy Inc. SU 0.47 2811140 BBG000BC1LY5 43924
Broadcom Inc. AVGO 0.46 2721630 BBG00KHY5S69 7102
CANADIAN NATURAL RESOURCES CNQ 0.45 2681130 BBG000HW5GX3 59860
OCCIDENTAL PETROLEUM CORP OXY 0.45 2646800 BBG000BQQ2S6 48185
META PLATFORMS INC META 0.45 2682510 BBG000MM2P62 4517
ALPHABET INC-CL C GOOG 0.45 2674610 BBG009S3NB30 8190
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.45 2700740 BBG023CY9MM1 17450
SCHLUMBERGER LTD SLB 0.44 2639010 BBG000BT41Q8 51213
Cheniere Energy Inc LNG 0.42 2500720 BBG000C3HSR0 9773
EQT CORP EQT 0.39 2309790 BBG000BHZ5J9 44419
Tesla Inc. TSLA 0.39 2313270 BBG000N9MNX3 7481
WAL-MART STORES INC WMT 0.39 2297710 BBG000BWXBC2 20563
Barrick Mining Corp ABX 0.39 2313300 N/A 61886
WILLIAMS COMPANIES INC. WMB 0.38 2232010 BBG000BWVCP8 31530
NUCOR CORP NUE 0.34 2046830 BBG000BQ8KV2 8258
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.33 1952000 N/A 79820
CISCO SYSTEMS INC CSCO 0.32 1883300 BBG000C3J3C9 16438
REALTY INCOME CORP O 0.32 1892230 BBG000DHPN63 28889
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1855110 BBG000PVRDL2 16562
INTEL CORP INTC 0.30 1807270 BBG000C0G1D1 19715
COSTCO WHOLESALE CORP COST 0.30 1782310 BBG000F6H8W8 1873
AUTOMATIC DATA PROCESSING ADP 0.30 1790210 BBG000JG0547 7021
WELLTOWER INC WELL 0.28 1648730 BBG000BKY1G5 6639
APPLIED MATERIALS INC AMAT 0.27 1624070 BBG000BBPFB9 3142
FRANCO-NEVADA CORP FNV 0.27 1603290 BBG000TRN6Z1 7477
VALE SA-SP ADR VALE 0.27 1576750 BBG000BN5LG7 106681
PROLOGIS INC PLD 0.26 1531950 BBG000B9Z0J8 10403
LAM RESH CORP LRCX 0.25 1464470 BBG000BNFLM9 5022
HORMEL FOODS CORP HRL 0.21 1226900 BBG000BLF8D2 47098
MEDTRONIC PLC MDT 0.21 1269280 BBG000BNWG87 15071
NETFLIX INC NFLX 0.21 1263330 BBG000CL9VN6 17945
CLOROX COMPANY CLX 0.21 1225610 BBG000BFS7D3 12582
ILLINOIS TOOL WORKS ITW 0.21 1265170 BBG000BMBL90 4442
T ROWE PRICE GROUP INC TROW 0.21 1237880 BBG000BVMPN3 10384
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1231780 BBG000N7QR55 9365
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1244730 N/A 27514
KENVUE INC KVUE 0.20 1216180 BBG01C79X561 62432
Kimberly-Clark Corp KMB 0.20 1209240 BBG000BMW2Z0 10851
FRANKLIN RESOURCES INC BEN 0.20 1174060 BBG000BD0TF8 35342
EVERSOURCE ENERGY ES 0.20 1175100 BBG000BQ87N0 15733
STANLEY BLACK & DECKER INC SWK 0.20 1186920 BBG000BTQR96 12604
GENUINE PARTS CO GPC 0.19 1103840 BBG000BKL348 8644
EQUINIX INC EQIX 0.19 1155660 BBG000MBDGM6 1104
PALO ALTO NETWORKS INC PANW 0.19 1104270 BBG0014GJCT9 3480
KLA CORPORATION KLAC 0.18 1046080 BBG000BMTFR4 5144
AO Smith Corp AOS 0.17 1010400 BBG000BC1L02 16182
TEXAS INSTRUMENTS INC TXN 0.17 1026550 BBG000BVV7G1 3674
ABBVIE INC ABBV 0.17 1008370 BBG0025Y4RY4 3925
PPG INDUSTRIES INC PPG 0.16 978799 BBG000BRJ809 8262
J M Smucker Co COM STK NPV SJM 0.16 923127 BBG000BT1715 7626
LINDE PLC LIN 0.16 964352 BBG01FND0CC1 1902
SIMON PROPERTY GROUP INC SPG 0.15 862044 BBG000BJ2D31 3721
PEPSICO INC PEP 0.14 819030 BBG000DH7JK6 5859
AMGEN INC AMGN 0.14 851853 BBG000BBS2Y0 2264
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 819441 BBG0113JGQF0 1003
T-MOBILE US INC TMUS 0.14 824026 BBG000NDV1D4 4650
Ventas Inc. VTR 0.13 744618 BBG000FRVHB9 7438
WESTERN DIGITAL CORP WDC 0.13 768291 BBG000BWNFZ9 1543
QUALCOMM INC QCOM 0.13 749366 BBG000CGC1X8 4407
DIGITAL REALTY TRUST INC DLR 0.13 794394 BBG000Q5ZRM7 4058
International Business Machines Corporation IBM 0.13 792017 BBG000BLNNH6 3662
Crowdstrike Holdings Inc. Class A CRWD 0.13 779156 BBG00BLYKS03 4326
ANALOG DEVICES INC ADI 0.13 750474 BBG000BB6G37 2018
PUBLIC STORAGE PSA 0.12 718676 BBG000BPPN67 2218
SANDISK CORP/DE SNDKV SNDK 0.12 732426 BBG01R388JG1 573
SHOPIFY INC - CLASS A SHOP 0.12 693019 BBG004DW5NB8 5462
ERIE INDEMNITY COMPANY-CL A ERIE 0.11 639356 BBG000BBTJZ1 2801
GILEAD SCIENCES INC GILD 0.11 679096 BBG000CKGBP2 5203
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 639962 BBG00ZXBJ153 3383
ASML HOLDING NV-NY REG SHS ASML 0.11 648145 BBG000K6MRN4 392
INTUITIVE SURGICAL INC ISRG 0.10 589483 BBG000BJPDZ1 1652
IRON MOUNTAIN INC IRM 0.10 576916 BBG000KCZPC3 4543
BOOKING HOLDINGS INC BKNG 0.10 612484 BBG000BLBVN4 3279
VERTEX PHARMACEUTICALS INC VRTX 0.09 559951 BBG000C1S2X2 1169
APPLOVIN CORP APP 0.09 510960 BBG006HFPX77 1238
FASTENAL CO FAST 0.08 455701 BBG000BJ8YN7 9618
ARM HOLDINGS PLC ARM 0.08 450897 BBG01J1GXZF0 1693
CONSTELLATION ENERGY CORPORATION CEG 0.08 456030 BBG014KFRNP7 1689
Marriott International, Inc Class A MAR 0.08 473845 BBG000BGD7W6 1237
EXTRA SPACE STORAGE INC EXR 0.08 476604 BBG000PV27K3 3214
STARBUCKS CORP SBUX 0.08 496380 BBG000CTQBF3 4789
CSX CORP CSX 0.08 463869 BBG000BGJRC8 8955
FORTINET INC FTNT 0.08 495083 BBG000BCMBG4 3249
VICI PROPERTIES INC REIT VICI 0.08 473796 BBG00HVVB499 17712
CADENCE DESIGN SYS INC CDNS 0.07 422247 BBG000C13CD9 1247
COMCAST CORP-CLASS A CMCSA 0.07 388466 BBG000BFT2L4 17038
EQUITY RESIDENTIAL EQR 0.07 417695 BBG000BG8M31 6212
ADOBE SYSTEMS INC ADBE 0.07 422720 BBG000BB5006 1778
MONSTER BEVERAGE CORP MNST 0.07 435753 BBG008NVB1C0 4571
MERCADOLIBRE INC MELI 0.07 420360 BBG000GQPB11 231
AVALONBAY COMMUNITIES INC AVB 0.07 442642 BBG000BLPBL5 2360
CINTAS CORP CTAS 0.07 401495 BBG000H3YXF8 1903
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 356829 BBG022XF4SZ9 1452
PACCAR INC PCAR 0.06 329196 BBG000BQVTF5 2467
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 361229 BBG000D4LWF6 5954
DOORDASH INC CLASS A DASH 0.06 338503 BBG005D7QCJ3 1836
ROSS STORES INC ROST 0.06 348234 BBG000BSBZH7 1431
INTUIT INC INTU 0.06 370466 BBG000BH5DV1 1219
SYNOPSYS INC SNPS 0.06 353203 BBG000BSFRF3 908
OREILLY AUTOMOTIVE INC ORLY 0.06 358918 BBG000BGYWY6 3962
Datadog Inc. Class A DDOG 0.06 358397 BBG003NJHZT9 1423
AMERICAN ELECTRIC POWER AEP 0.06 346532 BBG000BB9KF2 2594
Warner Bros Discovery Inc WBD 0.05 296661 BBG011386VF4 11735
HOST HOTELS & RESORTS INC HST 0.05 268502 BBG000BL8804 10753
Baker Hughes Company BKR 0.05 278472 BBG00GBVBK51 4596
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 299954 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 297656 BBG000CGJMB9 1024
NXP Semiconductors NV NXPI 0.05 318527 BBG000BND699 1190
AIRBNB INC ABNB 0.05 283440 BBG001Y2XS07 1930
REGENERON PHARMACEUTICALS REGN 0.05 312903 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 311619 BBG00FQH6BS9 10517
XCEL ENERGY INC XEL 0.04 233817 BBG000BCTQ65 2897
PAYPAL HOLDINGS INC PYPL 0.04 241157 BBG0077VNXV6 4301
Sun Communities Inc SUI 0.04 245309 BBG000BLJWF3 2020
Old Dominion Freight Line Inc. ODFL 0.04 215205 BBG000CHSS88 949
TERADYNE INC TER 0.04 211575 BBG000BV4DR6 632
EXELON CORP EXC 0.04 232497 BBG000J6XT05 4931
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 208821 BBG000BS1YV5 856
MID-AMERICA APARTMENT COMM MAA 0.04 229017 BBG000BLMY92 1716
KIMCO REALTY CORP KIM 0.04 245360 BBG000CN3S73 9301
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.04 225803 BBG000B9ZXB4 2161
FERROVIAL SA FER 0.04 213591 BBG01H0DF657 3397.88
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 218691 BBG00CMNZNK7 218691
AUTODESK INC ADSK 0.04 225006 BBG000BM7HL0 996
MCDONALDS CORP MCD 0.04 238460 BBG000BNSZP1 881
DIAMONDBACK ENERGY INC FANG 0.04 257281 BBG002PHSYX9 1314
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 252598 BBG00LBLDDR2 2977
W. P. CAREY REIT INC WPC 0.04 254999 BBG000BCQM58 3346
LUMENTUM HOLDINGS INC LITE 0.04 236371 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 235444 BBG00B6BFWH9 2166
ELECTRONIC ARTS INC EA 0.04 236876 BBG000BP0KQ8 1133
PAYCHEX INC PAYX 0.03 180807 BBG000BQSQ38 1582
MICROCHIP TECHNOLOGY INC MCHP 0.03 197632 BBG000BHCP19 2537
ROPER TECHNOLOGIES INC ROP 0.03 174009 BBG000F1ZSN5 464
ASTERA LABS INC ALAB 0.03 181095 BBG00TDKHW99 641
AXON ENTERPRISE INC AXON 0.03 190749 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 189884 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 201901 BBG000BLRT07 363
KEURIG DR PEPPER INC KDP 0.03 193581 BBG000TJM7F0 6427
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 172886 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 157443 BBG001NVJ6W4 838
CONSOLIDATED EDISON INC ED 0.03 196128 BBG000BHLYS1 1759
ROCKET LAB CORP RKLB 0.03 158045 BBG01V7JN3F3 2361
THOMSON REUTERS CORP TRI 0.03 189361 N/A 1937
KRAFT HEINZ CO/THE KHC 0.02 147697 BBG005CPNTQ2 5633
WORKDAY INC-CLASS A WDAY 0.02 127770 BBG000VC0T95 866
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 132447 BBG01BFR8YV1 2167
COPART INC CPRT 0.02 134323 BBG000BM9RH1 4509
DEXCOM INC DXCM 0.02 124289 BBG000QTF8K1 1694
MICROSTRATEGY INC-CL A MSTR 0.02 135940 BBG000GQJPZ0 1378
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 94.1 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 147.3 BBG003338H34 1
INSMED INC INSM 0.00 104.73 BBG000BWM5P3 1
Cash & Other Cash&Other -0.04 -256698 N/A -256698

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.