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 07/02/2026
TICKER RAA
NET ASSETS $587M
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 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 07/02/2026

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 1
Discount 13 16 8 14 0

Asset Allocation

As of 7/2/2026

Equities

40.30%
Nasdaq
15.57%
US Large Cap
9.97%
Dividend Payers
3.94%
Emerging Ex. China
3.81%
US Small Cap
2.98%
Europe
2.02%
Japan
2.01%

Fixed Income

27.83%
High Yield
5.98%
Corporate Bonds
5.97%
Long Term Treasuries
5.91%
Emerging Mkt Bonds
3.98%
T-Bills
3.02%
TIPS
2.97%

Alternatives

31.87%
Commodities
6.99%
Managed Futures
6.95%
Miners
6.04%
Gold
4.10%
Energy
3.62%
Bitcoin
2.10%
Real Estate
2.07%

Holdings

As of 07/02/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.97 58542600 BBG00RYR67P4 409475
INVESCO OPTIMUM YIELD DIVERS PDBC 6.99 41056200 N/A 2587030
SCHWAB HIGH YIELD BOND ETF SCYB 5.98 35084500 BBG01F80WX71 1345260
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.97 35046900 BBG000PWYVH7 425636
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.91 34725900 BBG00PZFJPC3 1119110
iM DBi Managed Futures Strategy ETF DBMF 5.76 33804300 N/A 1114550
SPROTT PHYSICAL GOLD TRUS PHYS 4.10 24079900 BBG000Q83F79 774770
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 23385300 BBG000NXKWH0 243090
ISHARES MSCI EMR MRK EX CHNA EMXC 3.81 22366500 BBG00H5VLMJ6 230630
VANGUARD SMALL-CAP ETF VB 2.98 17514600 BBG000HT3Z79 58316
SCHWAB U.S. TIPS ETF SCHP 2.97 17446800 BBG000BGN6P5 663627
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.10 12351400 N/A 454428
Franklin FTSE Europe ETF FLEE 2.02 11880100 BBG00J3PR1S7 304130
Franklin FTSE Japan ETF FLJP 2.01 11783000 BBG00J3MDY16 296056
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 11759200 BBG01922X0X9 235703
BHP GROUP LTD BHP 1.25 7349540 BBG000BD5NZ4 88198
Simplify DBi CTA Managed Futures Index ETF SDMF 1.19 7013040 BBG020BR8WR7 277854
NVIDIA CORP NVDA 1.18 6933420 BBG000BBJQV0 35587
APPLE INC AAPL 1.13 6621040 BBG000B9XRY4 21453
MICRON TECHNOLOGY INC MU 0.77 4522980 BBG000C5Z1S3 4637
MICROSOFT CORP MSFT 0.73 4307890 BBG000BPH459 11032
NEWMONT GOLDCORP CORPORATION COM NEM 0.71 4153600 BBG000BPWXK1 42803
RIO TINTO PLC-SPON ADR RIO 0.68 3989620 BBG000FD28T3 42254
AMAZON.COM INC AMZN 0.67 3921550 BBG000BVPV84 16160
ADVANCED MICRO DEVICES INC AMD 0.56 3269520 BBG000BBQCY0 6314
ALPHABET INC-CL A GOOGL 0.53 3105660 BBG009S39JX6 8629
CHEVRON CORP CVX 0.52 3049490 BBG000K4ND22 18023
FREEPORT-MCMORAN INC FCX 0.52 3070140 BBG000BJDB15 50355
AGNICO EAGLE MINES LTD AEM 0.51 3013660 BBG000DLVDK3 19587
Tesla Inc. TSLA 0.50 2907990 BBG000N9MNX3 7391
ALPHABET INC-CL C GOOG 0.49 2881500 BBG009S3NB30 8090
GLENCORE PLC -UNSP ADR GLNCY 0.47 2769380 BBG001VKX1Z1 203481
META PLATFORMS INC META 0.44 2603810 BBG000MM2P62 4467
Broadcom Inc. AVGO 0.43 2531080 BBG00KHY5S69 7022
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.41 2388290 BBG000BRK7L6 43384
MARATHON PETROLEUM CORP MPC 0.41 2407000 BBG001DCCGR8 9037
ExxonMobil Holdings Corp XOM 0.40 2363430 N/A 17240
INTEL CORP INTC 0.40 2343820 BBG000C0G1D1 19475
CANADIAN NATURAL RESOURCES CNQ 0.40 2343910 BBG000HW5GX3 59130
OCCIDENTAL PETROLEUM CORP OXY 0.40 2327870 BBG000BQQ2S6 47595
Cheniere Energy Inc LNG 0.40 2374350 BBG000C3HSR0 9653
Barrick Mining Corp. B 0.40 2335620 N/A 61126
EQT CORP EQT 0.39 2308470 BBG000BHZ5J9 43879
SCHLUMBERGER LTD SLB 0.39 2282810 BBG000BT41Q8 50583
WILLIAMS COMPANIES INC. WMB 0.39 2278310 BBG000BWVCP8 31150
WAL-MART STORES INC WMT 0.39 2271810 BBG000BWXBC2 20313
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.33 1962330 N/A 78840
APPLIED MATERIALS INC AMAT 0.32 1876660 BBG000BBPFB9 3112
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.32 1893570 BBG000PVRDL2 16362
NUCOR CORP NUE 0.31 1800880 BBG000BQ8KV2 8158
CISCO SYSTEMS INC CSCO 0.31 1823040 BBG000C3J3C9 16238
REALTY INCOME CORP O 0.31 1821930 BBG000DHPN63 28539
COSTCO WHOLESALE CORP COST 0.30 1763440 BBG000F6H8W8 1853
LAM RESH CORP LRCX 0.30 1743700 BBG000BNFLM9 4962
AUTOMATIC DATA PROCESSING ADP 0.29 1681600 BBG000JG0547 6941
FRANCO-NEVADA CORP FNV 0.27 1607260 BBG000RD3CL8 7387
VALE SA-SP ADR VALE 0.27 1579510 BBG000BN5LG7 105371
WELLTOWER INC WELL 0.26 1548320 BBG000BKY1G5 6559
PROLOGIS INC PLD 0.24 1433760 BBG000B9Z0J8 10283
NETFLIX INC NFLX 0.23 1376350 BBG000CL9VN6 17725
KENVUE INC KVUE 0.21 1222760 BBG01C79X561 61662
Kimberly-Clark Corp KMB 0.21 1229910 BBG000BMW2Z0 10721
MEDTRONIC PLC MDT 0.21 1238780 BBG000BNWG87 14891
CLOROX COMPANY CLX 0.21 1209140 BBG000BFS7D3 12432
T ROWE PRICE GROUP INC TROW 0.21 1216800 BBG000BVMPN3 10264
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1223280 N/A 27184
HORMEL FOODS CORP HRL 0.20 1162950 BBG000BLF8D2 46518
FRANKLIN RESOURCES INC BEN 0.20 1190850 BBG000BD0TF8 34912
EVERSOURCE ENERGY ES 0.20 1157020 BBG000BQ87N0 15543
PALO ALTO NETWORKS INC PANW 0.20 1197330 BBG0014GJCT9 3440
KLA CORPORATION KLAC 0.20 1197540 BBG000BMTFR4 5084
ILLINOIS TOOL WORKS ITW 0.20 1197960 BBG000BMBL90 4392
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1196670 BBG000N7QR55 9255
Cash & Other Cash&Other 0.19 1101560 N/A 1101560
GENUINE PARTS CO GPC 0.19 1132680 BBG000BKL348 8544
EQUINIX INC EQIX 0.19 1096210 BBG000MBDGM6 1094
STANLEY BLACK & DECKER INC SWK 0.19 1144520 BBG000BTQR96 12454
TEXAS INSTRUMENTS INC TXN 0.18 1065050 BBG000BVV7G1 3634
LINDE PLC LIN 0.18 1028780 BBG01FND0CC1 1882
International Business Machines Corporation IBM 0.18 1048640 BBG000BLNNH6 3622
AO Smith Corp AOS 0.17 1003020 BBG000BC1L02 15992
PPG INDUSTRIES INC PPG 0.17 1022940 BBG000BRJ809 8162
SANDISK CORP/DE SNDKV SNDK 0.17 999885 BBG01R388JG1 573
ABBVIE INC ABBV 0.17 1014260 BBG0025Y4RY4 3885
J M Smucker Co COM STK NPV SJM 0.15 876286 BBG000BT1715 7536
PEPSICO INC PEP 0.14 834890 BBG000DH7JK6 5789
WESTERN DIGITAL CORP WDC 0.14 826287 BBG000BWNFZ9 1533
AMGEN INC AMGN 0.14 839593 BBG000BBS2Y0 2244
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 814419 BBG0113JGQF0 993
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 820004 BBG00ZXBJ153 3343
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 801572 BBG00CMNZNK7 801572
Crowdstrike Holdings Inc. Class A CRWD 0.14 829458 BBG00BLYKS03 4276
T-MOBILE US INC TMUS 0.14 816592 BBG000NDV1D4 4600
SIMON PROPERTY GROUP INC SPG 0.14 832127 BBG000BJ2D31 3681
QUALCOMM INC QCOM 0.13 767921 BBG000CGC1X8 4357
ANALOG DEVICES INC ADI 0.13 753566 BBG000BB6G37 1998
Ventas Inc. VTR 0.12 679837 BBG000FRVHB9 7348
PUBLIC STORAGE PSA 0.12 724549 BBG000BPPN67 2198
INTUITIVE SURGICAL INC ISRG 0.12 695248 BBG000BJPDZ1 1632
ERIE INDEMNITY COMPANY-CL A ERIE 0.12 718382 BBG000BBTJZ1 2771
DIGITAL REALTY TRUST INC DLR 0.12 694586 BBG000Q5ZRM7 4008
ASML HOLDING NV-NY REG SHS ASML 0.12 693573 BBG000K6MRN4 392
SHOPIFY INC - CLASS A SHOP 0.11 645323 BBG008HBD923 5402
GILEAD SCIENCES INC GILD 0.11 675122 BBG000CKGBP2 5143
APPLOVIN CORP APP 0.11 647230 BBG006HFPX77 1228
VERTEX PHARMACEUTICALS INC VRTX 0.10 611998 BBG000C1S2X2 1159
BOOKING HOLDINGS INC BKNG 0.10 597790 BBG000BLBVN4 3239
IRON MOUNTAIN INC IRM 0.09 526400 BBG000KCZPC3 4493
ARM HOLDINGS PLC ARM 0.09 527463 BBG01J1GXZF0 1673
FORTINET INC FTNT 0.09 501406 BBG000BCMBG4 3209
CADENCE DESIGN SYS INC CDNS 0.08 461574 BBG000C13CD9 1237
FASTENAL CO FAST 0.08 462089 BBG000BJ8YN7 9508
Marriott International, Inc Class A MAR 0.08 457610 BBG000BGD7W6 1227
MONSTER BEVERAGE CORP MNST 0.08 441250 BBG008NVB1C0 4521
EXTRA SPACE STORAGE INC EXR 0.08 475499 BBG000PV27K3 3184
STARBUCKS CORP SBUX 0.08 494136 BBG000CTQBF3 4739
VICI PROPERTIES INC REIT VICI 0.08 475879 BBG00HVVB499 17502
AVALONBAY COMMUNITIES INC AVB 0.08 453866 BBG000BLPBL5 2340
COMCAST CORP-CLASS A CMCSA 0.07 400338 BBG000BFT2L4 16828
EQUITY RESIDENTIAL EQR 0.07 428896 BBG000BG8M31 6142
CONSTELLATION ENERGY CORPORATION CEG 0.07 399308 BBG014KFRNP7 1669
ADOBE SYSTEMS INC ADBE 0.07 386268 BBG000BB5006 1758
MERCADOLIBRE INC MELI 0.07 407336 BBG000GQPB11 231
CSX CORP CSX 0.07 432432 BBG000BGJRC8 8845
SYNOPSYS INC SNPS 0.07 392570 BBG000BSFRF3 898
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 331458 BBG022XF4SZ9 1442
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 358394 BBG000D4LWF6 5884
DOORDASH INC CLASS A DASH 0.06 348690 BBG005D7QCJ3 1816
INTUIT INC INTU 0.06 332898 BBG000BH5DV1 1209
CINTAS CORP CTAS 0.06 341520 BBG000H3YXF8 1883
OREILLY AUTOMOTIVE INC ORLY 0.06 353960 BBG000BGYWY6 3922
Datadog Inc. Class A DDOG 0.06 367889 BBG003NJHZT9 1413
AMERICAN ELECTRIC POWER AEP 0.06 355140 BBG000BB9KF2 2564
PACCAR INC PCAR 0.05 291222 BBG000BQVTF5 2437
Warner Bros Discovery Inc WBD 0.05 307036 BBG011386VF4 11595
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 288548 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 302507 BBG000CGJMB9 1014
NXP Semiconductors NV NXPI 0.05 322565 BBG000BND699 1180
ROSS STORES INC ROST 0.05 303284 BBG000BSBZH7 1421
AIRBNB INC ABNB 0.05 284456 BBG001Y2XS07 1910
REGENERON PHARMACEUTICALS REGN 0.05 306853 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 317420 BBG00FQH6BS9 10397
XCEL ENERGY INC XEL 0.04 234979 BBG000BCTQ65 2867
MICROCHIP TECHNOLOGY INC MCHP 0.04 212192 BBG000BHCP19 2507
Sun Communities Inc SUI 0.04 247260 BBG000BLJWF3 2000
HOST HOTELS & RESORTS INC HST 0.04 248047 BBG000BL8804 10623
ASTERA LABS INC ALAB 0.04 260515 BBG00TDKHW99 641
AXON ENTERPRISE INC AXON 0.04 216726 BBG000BHJWG1 363
Baker Hughes Company BKR 0.04 239938 BBG00GBVBK51 4546
TERADYNE INC TER 0.04 233265 BBG000BV4DR6 632
EXELON CORP EXC 0.04 233223 BBG000J6XT05 4871
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 215722 BBG000BS1YV5 846
MID-AMERICA APARTMENT COMM MAA 0.04 241154 BBG000BLMY92 1696
KEURIG DR PEPPER INC KDP 0.04 211688 BBG000TJM7F0 6357
KIMCO REALTY CORP KIM 0.04 232716 BBG000CN3S73 9191
FERROVIAL SE FER 0.04 225034 BBG01H7CZ9S9 3323
MCDONALDS CORP MCD 0.04 244429 BBG000BNSZP1 871
DIAMONDBACK ENERGY INC FANG 0.04 224340 BBG002PHSYX9 1304
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 242803 BBG00LBLDDR2 2947
ROCKET LAB CORP RKLB 0.04 235177 BBG01V7JN3F3 2341
W. P. CAREY REIT INC WPC 0.04 235784 BBG000BCQM58 3306
LUMENTUM HOLDINGS INC LITE 0.04 241802 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 228785 BBG00B6BFWH9 2146
ELECTRONIC ARTS INC EA 0.04 230451 BBG000BP0KQ8 1123
PAYCHEX INC PAYX 0.03 167182 BBG000BQSQ38 1572
PAYPAL HOLDINGS INC PYPL 0.03 193293 BBG0077VNXV6 4251
ROPER TECHNOLOGIES INC ROP 0.03 168989 BBG000F1ZSN5 464
Old Dominion Freight Line Inc. ODFL 0.03 204373 BBG000CHSS88 939
AIR PRODUCTS & CHEMICALS INC APD 0.03 203909 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 202481 BBG000BLRT07 363
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 204251 BBG000B9ZXB4 2141
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 194236 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 178533 BBG001NVJ6W4 828
AUTODESK INC ADSK 0.03 204575 BBG000BM7HL0 986
CONSOLIDATED EDISON INC ED 0.03 198229 BBG000BHLYS1 1739
THOMSON REUTERS CORP TRI 0.03 171016 N/A 1917
KRAFT HEINZ CO/THE KHC 0.02 141387 BBG005CPNTQ2 5573
WORKDAY INC-CLASS A WDAY 0.02 115902 BBG000VC0T95 856
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 140768 BBG01BFR8YV1 2147
COPART INC CPRT 0.02 133815 BBG000BM9RH1 4459
DEXCOM INC DXCM 0.02 119272 BBG000QTF8K1 1674
MICROSTRATEGY INC-CL A MSTR 0.02 137853 BBG000GQJPZ0 1368
EURO EUR 0.00 1958.08 N/A 1713.03
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 83.98 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 147.33 BBG003338H34 1
INSMED INC INSM 0.00 111.6 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 247.15 BBG020QYV152 1

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.