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 08/12/2026
TICKER RAA
NET ASSETS $612M
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 $30.22
30 DAY MEDIAN BID-ASK SPREAD 0.000679

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 16.01% NA NA 14.22%
RAA - Market Price 16.17% NA NA 14.27%
S&P 500 Index Total Return 19.56% NA NA 18.87%
1 MO 3 MO YTD Since Inception
RAA - NAV -0.15% -2.77% 0.18% 7.07% 7.63% 7.79% 14.22% 15.31%
RAA - Market Price -0.16% -2.70% 0.16% 7.15% 7.66% 7.83% 14.27% 15.38%
S&P 500 Index Total Return -0.06% -0.95% 4.19% 15.20% 10.14% 10.21% 18.87% 20.23%
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 08/12/2026

NET ASSET VALUE

$30.22

CLOSING PRICE

$30.21

PREMIUM/DISCOUNT

0.02%
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 15
Discount 13 16 8 14 9

Asset Allocation

As of 8/12/2026

Equities

40.41%
Nasdaq
16.22%
US Large Cap
10.11%
Dividend Payers
4.93%
Emerging Ex. China
3.07%
US Small Cap
3.04%
Japan
2.05%
Europe
0.99%

Fixed Income

24.80%
High Yield
5.89%
Long Term Treasuries
5.88%
Corporate Bonds
3.92%
Emerging Mkt Bonds
3.92%
TIPS
2.92%
T-Bills
2.27%

Alternatives

34.79%
Managed Futures
10.89%
Commodities
8.98%
Energy
5.01%
Real Estate
3.68%
Miners
3.21%
Bitcoin
1.96%
Gold
1.06%

Holdings

As of 08/12/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.11 61874700 BBG00RYR67P4 1252020
iM DBi Managed Futures Strategy ETF DBMF 9.48 57985900 N/A 1844920
INVESCO OPTIMUM YIELD DIVERS PDBC 8.98 54974500 N/A 3059240
SCHWAB HIGH YIELD BOND ETF SCYB 5.89 36066900 BBG01F80WX71 1385590
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.88 35958200 BBG00PZFJPC3 1201610
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.92 23982700 BBG000NXKWH0 252609
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.92 23967800 BBG000PWYVH7 295170
ISHARES MSCI EMR MRK EX CHNA EMXC 3.07 18762500 BBG00H5VLMJ6 193767
VANGUARD SMALL-CAP ETF VB 3.04 18615500 BBG000HT3Z79 60613
SCHWAB U.S. TIPS ETF SCHP 2.92 17874800 BBG000BGN6P5 689881
Franklin FTSE Japan ETF FLJP 2.05 12552400 BBG00J3MDY16 301740
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.96 12001600 N/A 428322
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.95 11913700 BBG01922X0X9 238608
Simplify DBi CTA Managed Futures Index ETF SDMF 1.41 8626960 BBG020BR8WR7 330307
NVIDIA CORP NVDA 1.38 8423540 BBG000BBJQV0 37590
APPLE INC AAPL 1.28 7822530 BBG000B9XRY4 25881
SPROTT PHYSICAL GOLD TRUS PHYS 1.06 6503420 BBG000Q83F79 194074
Franklin FTSE Europe ETF FLEE 0.99 6064240 BBG00J3PR1S7 151215
MICROSOFT CORP MSFT 0.92 5651620 BBG000BPH459 11477
MICRON TECHNOLOGY INC MU 0.78 4769690 BBG000C5Z1S3 5234
BHP GROUP LTD BHP 0.69 4234380 BBG000BD5NZ4 46986
AMAZON.COM INC AMZN 0.65 3988620 BBG000BVPV84 14923
CHEVRON CORP CVX 0.63 3829180 BBG000K4ND22 19477
ADVANCED MICRO DEVICES INC AMD 0.57 3499310 BBG000BBQCY0 7246
MARATHON PETROLEUM CORP MPC 0.54 3310120 BBG001DCCGR8 9505
WELLTOWER INC WELL 0.53 3244730 BBG000BKY1G5 14091
SCHLUMBERGER LTD SLB 0.52 3162390 BBG000BT41Q8 60110
Broadcom Inc. AVGO 0.51 3117050 BBG00KHY5S69 7492
OCCIDENTAL PETROLEUM CORP OXY 0.50 3081430 BBG000BQQ2S6 52629
EQT CORP EQT 0.50 3036330 BBG000BHZ5J9 56166
Cheniere Energy Inc LNG 0.50 3035540 BBG000C3HSR0 11322
WILLIAMS COMPANIES INC. WMB 0.50 3072700 BBG000BWVCP8 41692
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.50 3080620 BBG023CY9MM1 19284
CANADIAN NATURAL RESOURCES CNQ 0.49 2971980 BBG000HW5GX3 62476
ALPHABET INC-CL A GOOGL 0.49 3003570 BBG009S39JX6 8743
REALTY INCOME CORP O 0.47 2865500 BBG000DHPN63 45782
Suncor Energy Inc. SU 0.46 2837930 BBG000BC1LY5 44426
ALPHABET INC-CL C GOOG 0.46 2819760 BBG009S3NB30 8236
META PLATFORMS INC META 0.44 2697440 BBG000MM2P62 4660
PROLOGIS INC PLD 0.43 2661630 BBG000B9Z0J8 18913
Tesla Inc. TSLA 0.42 2571940 BBG000N9MNX3 7853
WAL-MART STORES INC WMT 0.41 2483310 BBG000BWXBC2 21406
NEWMONT GOLDCORP CORPORATION COM NEM 0.39 2395100 BBG000BPWXK1 20325
INTEL CORP INTC 0.36 2199500 BBG000C0G1D1 21788
EQUINIX INC EQIX 0.36 2232430 BBG000MBDGM6 2088
CISCO SYSTEMS INC CSCO 0.34 2098400 BBG000C3J3C9 16939
AUTOMATIC DATA PROCESSING ADP 0.33 1994660 BBG000JG0547 7406
PEPSICO INC PEP 0.31 1893950 BBG000DH7JK6 13655
RIO TINTO PLC-SPON ADR RIO 0.31 1921160 BBG000FD28T3 18980
FREEPORT-MCMORAN INC FCX 0.31 1903550 BBG000BJDB15 27500
APPLIED MATERIALS INC AMAT 0.30 1823700 BBG000BBPFB9 3327
COSTCO WHOLESALE CORP COST 0.30 1841230 BBG000F6H8W8 1939
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1744780 BBG000N7QR55 10201
LAM RESH CORP LRCX 0.28 1724800 BBG000BNFLM9 5289
AGNICO EAGLE MINES LTD AEM 0.28 1741250 BBG000DLVDK3 9403
CLOROX COMPANY CLX 0.27 1647210 BBG000BFS7D3 15575
DIGITAL REALTY TRUST INC DLR 0.27 1662990 BBG000Q5ZRM7 8439
SIMON PROPERTY GROUP INC SPG 0.27 1648020 BBG000BJ2D31 7472
MEDTRONIC PLC MDT 0.26 1581490 BBG000BNWG87 17425
STANLEY BLACK & DECKER INC SWK 0.26 1603590 BBG000BTQR96 15584
PUBLIC STORAGE PSA 0.25 1545090 BBG000BPPN67 4775
AO Smith Corp AOS 0.25 1552800 BBG000BC1L02 24809
AMCOR PLC COMMON STOCK USD.01 AMCR 0.25 1548770 N/A 33264
KENVUE INC KVUE 0.24 1465940 BBG01C79X561 77236
Kimberly-Clark Corp KMB 0.24 1476440 BBG000BMW2Z0 13554
HORMEL FOODS CORP HRL 0.24 1445200 BBG000BLF8D2 59254
FRANKLIN RESOURCES INC BEN 0.24 1465530 BBG000BD0TF8 43630
T ROWE PRICE GROUP INC TROW 0.24 1476430 BBG000BVMPN3 13251
ABBVIE INC ABBV 0.24 1470920 BBG0025Y4RY4 5913
GENUINE PARTS CO GPC 0.23 1407910 BBG000BKL348 10506
NETFLIX INC NFLX 0.23 1419120 BBG000CL9VN6 19123
PALO ALTO NETWORKS INC PANW 0.23 1384720 BBG0014GJCT9 3578
International Business Machines Corporation IBM 0.23 1400070 BBG000BLNNH6 5933
PPG INDUSTRIES INC PPG 0.22 1350450 BBG000BRJ809 11784
EVERSOURCE ENERGY ES 0.22 1355300 BBG000BQ87N0 18942
Barrick Mining Corp ABX 0.22 1331520 N/A 32295
SPACE EXPLORATION TECH CORP A SPCX 0.21 1276040 BBG000NQF3Z5 8731
Ventas Inc. VTR 0.21 1305060 BBG000FRVHB9 14662
GLENCORE PLC -UNSP ADR GLNCY 0.20 1249200 BBG001VKX1Z1 81381
ILLINOIS TOOL WORKS ITW 0.20 1213920 BBG000BMBL90 4150
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1170760 BBG000PVRDL2 8680
NUCOR CORP NUE 0.18 1128560 BBG000BQ8KV2 4152
TEXAS INSTRUMENTS INC TXN 0.18 1128490 BBG000BVV7G1 4080
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1089740 BBG000BBTJZ1 4221
KLA CORPORATION KLAC 0.18 1121840 BBG000BMTFR4 5387
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1099900 N/A 40157
IRON MOUNTAIN INC IRM 0.17 1016890 BBG000KCZPC3 8177
LINDE PLC LIN 0.17 1015910 BBG01FND0CC1 2119
AMGEN INC AMGN 0.16 964705 BBG000BBS2Y0 2318
Crowdstrike Holdings Inc. Class A CRWD 0.16 969400 BBG00BLYKS03 4371
EXTRA SPACE STORAGE INC EXR 0.15 941906 BBG000PV27K3 6418
FRANCO-NEVADA CORP FNV 0.14 853867 BBG000TRN6Z1 3619
SHOPIFY INC - CLASS A SHOP 0.14 831316 BBG004DW5NB8 5527
SANDISK CORP/DE SNDKV SNDK 0.14 880510 BBG01R388JG1 655
VICI PROPERTIES INC REIT VICI 0.14 830955 BBG00HVVB499 31874
T-MOBILE US INC TMUS 0.14 865989 BBG000NDV1D4 4889
QUALCOMM INC QCOM 0.13 783551 BBG000CGC1X8 4805
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 823761 BBG0113JGQF0 938
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 799072 BBG00ZXBJ153 3681
ANALOG DEVICES INC ADI 0.13 805765 BBG000BB6G37 2096
GILEAD SCIENCES INC GILD 0.12 744432 BBG000CKGBP2 5479
VALE SA-SP ADR VALE 0.12 720992 BBG000BN5LG7 51279
BOOKING HOLDINGS INC BKNG 0.12 715741 BBG000BLBVN4 3372
AVALONBAY COMMUNITIES INC AVB 0.12 747027 BBG000BLPBL5 4155
ASML HOLDING NV-NY REG SHS ASML 0.12 713168 BBG000K6MRN4 394
WESTERN DIGITAL CORP WDC 0.11 677517 BBG000BWNFZ9 1492
EQUITY RESIDENTIAL EQR 0.11 690003 BBG000BG8M31 10711
FASTENAL CO FAST 0.10 590660 BBG000BJ8YN7 11311
INTUITIVE SURGICAL INC ISRG 0.10 607122 BBG000BJPDZ1 1513
VERTEX PHARMACEUTICALS INC VRTX 0.10 591446 BBG000C1S2X2 1125
ARM HOLDINGS PLC ARM 0.09 524709 BBG01J1GXZF0 1930
ESSEX PROPERTY TRUST INC ESS 0.09 528788 BBG000CGJMB9 1880
STARBUCKS CORP SBUX 0.09 552323 BBG000CTQBF3 5091
INVITATION HOMES INC REIT USD.01 INVH 0.09 536516 BBG00FQH6BS9 18016
MID-AMERICA APARTMENT COMM MAA 0.08 472815 BBG000BLMY92 3573
FORTINET INC FTNT 0.08 476408 BBG000BCMBG4 2962
Sun Communities Inc SUI 0.07 456082 BBG000BLJWF3 3854
HOST HOTELS & RESORTS INC HST 0.07 431786 BBG000BL8804 18938
CONSTELLATION ENERGY CORPORATION CEG 0.07 439478 BBG014KFRNP7 1577
ADOBE SYSTEMS INC ADBE 0.07 433148 BBG000BB5006 1674
KIMCO REALTY CORP KIM 0.07 452529 BBG000CN3S73 18715
MERCADOLIBRE INC MELI 0.07 405880 BBG000GQPB11 222
CSX CORP CSX 0.07 413360 BBG000BGJRC8 8254
APPLOVIN CORP APP 0.07 415544 BBG006HFPX77 1368
W. P. CAREY REIT INC WPC 0.07 458283 BBG000BCQM58 6483
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 357597 BBG000D4LWF6 5751
CADENCE DESIGN SYS INC CDNS 0.06 397773 BBG000C13CD9 1231
COMCAST CORP-CLASS A CMCSA 0.06 379376 BBG000BFT2L4 14895
Marriott International, Inc Class A MAR 0.06 394648 BBG000BGD7W6 1113
DOORDASH INC CLASS A DASH 0.06 386094 BBG005D7QCJ3 1817
ROSS STORES INC ROST 0.06 353012 BBG000BSBZH7 1422
AIRBNB INC ABNB 0.06 353526 BBG001Y2XS07 1963
REGENERON PHARMACEUTICALS REGN 0.06 375055 BBG000C734W3 470
MONSTER BEVERAGE CORP MNST 0.06 397267 BBG008NVB1C0 8640
INTUIT INC INTU 0.06 380231 BBG000BH5DV1 1136
CINTAS CORP CTAS 0.06 354718 BBG000H3YXF8 1743
Datadog Inc. Class A DDOG 0.06 370038 BBG003NJHZT9 1536
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 342890 BBG022XF4SZ9 1457
PACCAR INC PCAR 0.05 293050 BBG000BQVTF5 2236
Warner Bros Discovery Inc WBD 0.05 314298 BBG011386VF4 11367
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 296402 BBG000C30L48 208
NXP Semiconductors NV NXPI 0.05 293630 BBG000BND699 1258
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 312544 BBG000B9ZXB4 2818
SYNOPSYS INC SNPS 0.05 319136 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 303270 BBG000BNSZP1 1100
CONSOLIDATED EDISON INC ED 0.05 293485 BBG000BHLYS1 2723
OREILLY AUTOMOTIVE INC ORLY 0.05 306711 BBG000BGYWY6 3332
LUMENTUM HOLDINGS INC LITE 0.05 304918 BBG0073F9RT7 327
AMERICAN ELECTRIC POWER AEP 0.05 288440 BBG000BB9KF2 2314
XCEL ENERGY INC XEL 0.04 238944 BBG000BCTQ65 3040
PAYPAL HOLDINGS INC PYPL 0.04 246450 BBG0077VNXV6 4163
ASTERA LABS INC ALAB 0.04 238781 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 253070 BBG00GBVBK51 3937
TERADYNE INC TER 0.04 251712 BBG000BV4DR6 625
Nebius Group NV NBIS 0.04 242870 BBG001NVJ6W4 937
AUTODESK INC ADSK 0.04 254001 BBG000BM7HL0 1018
DIAMONDBACK ENERGY INC FANG 0.04 235294 BBG002PHSYX9 1178
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 240573 BBG00LBLDDR2 2702
ROCKET LAB CORP RKLB 0.04 222406 BBG01V7JN3F3 2740
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 232899 BBG00B6BFWH9 2175
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 240122 BBG020QYV152 1431
PAYCHEX INC PAYX 0.03 184648 BBG000BQSQ38 1534
MICROCHIP TECHNOLOGY INC MCHP 0.03 188114 BBG000BHCP19 2368
ROPER TECHNOLOGIES INC ROP 0.03 180620 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 204525 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 178755 BBG000CHSS88 841
IDEXX LABS IDXX 0.03 183727 BBG000BLRT07 322
EXELON CORP EXC 0.03 175770 BBG000J6XT05 3887
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 179820 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 168995 BBG000TJM7F0 5717
FERROVIAL SA FER 0.03 179876 BBG01H0DF657 2727.88
COREWEAVE INC CRWV 0.03 177647 BBG011ZTRJ21 1649
THOMSON REUTERS CORP TRI 0.03 187982 N/A 1832
KRAFT HEINZ CO/THE KHC 0.02 112568 BBG005CPNTQ2 4589
WORKDAY INC-CLASS A WDAY 0.02 130942 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 131235 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 126635 BBG01BFR8YV1 1752
COPART INC CPRT 0.02 118772 BBG000BM9RH1 4097
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 130155 BBG00CMNZNK7 130155
DEXCOM INC DXCM 0.02 129844 BBG000QTF8K1 1430
MICROSTRATEGY INC-CL A MSTR 0.02 120529 BBG000GQJPZ0 1271
Cash & Other Cash&Other 0.00 -13440.7 N/A -13440.7

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.