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 08/20/2026
TICKER RAA
NET ASSETS $616M
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 $30.34
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 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 08/20/2026

NET ASSET VALUE

$30.34

CLOSING PRICE

$30.34

PREMIUM/DISCOUNT

0.01%
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 19
Discount 13 16 8 14 10

Asset Allocation

As of 8/20/2026

Equities

39.99%
Nasdaq
16.12%
US Large Cap
9.93%
Dividend Payers
4.93%
Emerging Ex. China
3.06%
US Small Cap
2.99%
Japan
1.98%
Europe
0.98%

Fixed Income

24.46%
High Yield
5.87%
Long Term Treasuries
5.87%
Corporate Bonds
3.90%
Emerging Mkt Bonds
3.89%
TIPS
2.93%
T-Bills
2.00%

Alternatives

35.55%
Managed Futures
10.75%
Commodities
9.24%
Energy
5.14%
Real Estate
3.73%
Miners
3.37%
Bitcoin
2.24%
Gold
1.08%

Holdings

As of 08/20/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.93 61148800 BBG00RYR67P4 1255110
iM DBi Managed Futures Strategy ETF DBMF 9.36 57629600 N/A 1849480
INVESCO OPTIMUM YIELD DIVERS PDBC 9.24 56888900 N/A 3066790
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.87 36173500 BBG00PZFJPC3 1204580
SCHWAB HIGH YIELD BOND ETF SCYB 5.87 36128200 BBG01F80WX71 1389010
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.90 23997300 BBG000PWYVH7 295898
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.89 23973400 BBG000NXKWH0 253231
ISHARES MSCI EMR MRK EX CHNA EMXC 3.06 18837900 BBG00H5VLMJ6 194245
VANGUARD SMALL-CAP ETF VB 2.99 18400300 BBG000HT3Z79 60761
SCHWAB U.S. TIPS ETF SCHP 2.93 18029600 BBG000BGN6P5 691583
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.24 13804500 N/A 429378
Franklin FTSE Japan ETF FLJP 1.98 12172000 BBG00J3MDY16 302484
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.94 11952600 BBG01922X0X9 239196
Simplify DBi CTA Managed Futures Index ETF SDMF 1.39 8576030 BBG020BR8WR7 331121
NVIDIA CORP NVDA 1.33 8171340 BBG000BBJQV0 37682
APPLE INC AAPL 1.31 8076060 BBG000B9XRY4 25943
SPROTT PHYSICAL GOLD TRUS PHYS 1.08 6677020 BBG000Q83F79 194552
Franklin FTSE Europe ETF FLEE 0.98 6062570 BBG00J3PR1S7 151587
MICROSOFT CORP MSFT 0.90 5535630 BBG000BPH459 11505
MICRON TECHNOLOGY INC MU 0.83 5111340 BBG000C5Z1S3 5246
BHP GROUP LTD BHP 0.72 4410160 BBG000BD5NZ4 47102
CHEVRON CORP CVX 0.65 4017660 BBG000K4ND22 19525
AMAZON.COM INC AMZN 0.63 3890990 BBG000BVPV84 14959
ADVANCED MICRO DEVICES INC AMD 0.55 3409180 BBG000BBQCY0 7262
MARATHON PETROLEUM CORP MPC 0.55 3412860 BBG001DCCGR8 9527
WELLTOWER INC WELL 0.54 3353280 BBG000BKY1G5 14125
OCCIDENTAL PETROLEUM CORP OXY 0.53 3245610 BBG000BQQ2S6 52757
CANADIAN NATURAL RESOURCES CNQ 0.52 3196010 BBG000HW5GX3 62630
SCHLUMBERGER LTD SLB 0.52 3226820 BBG000BT41Q8 60258
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.52 3211680 BBG023CY9MM1 19330
Cheniere Energy Inc LNG 0.51 3168020 BBG000C3HSR0 11348
EQT CORP EQT 0.49 3034220 BBG000BHZ5J9 56304
WILLIAMS COMPANIES INC. WMB 0.49 2995790 BBG000BWVCP8 41794
Suncor Energy Inc. SU 0.49 3025640 BBG000BC1LY5 44534
ALPHABET INC-CL A GOOGL 0.48 2985290 BBG009S39JX6 8763
REALTY INCOME CORP O 0.47 2899120 BBG000DHPN63 45894
ALPHABET INC-CL C GOOG 0.45 2792180 BBG009S3NB30 8256
Tesla Inc. TSLA 0.44 2716520 BBG000N9MNX3 7871
Broadcom Inc. AVGO 0.44 2733870 BBG00KHY5S69 7510
PROLOGIS INC PLD 0.43 2667150 BBG000B9Z0J8 18959
NEWMONT GOLDCORP CORPORATION COM NEM 0.42 2600660 BBG000BPWXK1 20375
META PLATFORMS INC META 0.41 2549030 BBG000MM2P62 4670
EQUINIX INC EQIX 0.37 2264820 BBG000MBDGM6 2092
WAL-MART STORES INC WMT 0.36 2222890 BBG000BWXBC2 21458
AUTOMATIC DATA PROCESSING ADP 0.34 2072860 BBG000JG0547 7424
INTEL CORP INTC 0.33 2012120 BBG000C0G1D1 21840
PEPSICO INC PEP 0.32 1944650 BBG000DH7JK6 13687
RIO TINTO PLC-SPON ADR RIO 0.32 1943890 BBG000FD28T3 19026
FREEPORT-MCMORAN INC FCX 0.32 1963250 BBG000BJDB15 27566
AGNICO EAGLE MINES LTD AEM 0.32 1998480 BBG000DLVDK3 9425
CISCO SYSTEMS INC CSCO 0.30 1860730 BBG000C3J3C9 16979
COSTCO WHOLESALE CORP COST 0.29 1813810 BBG000F6H8W8 1943
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1778740 BBG000N7QR55 10225
APPLIED MATERIALS INC AMAT 0.27 1654860 BBG000BBPFB9 3335
CLOROX COMPANY CLX 0.27 1655600 BBG000BFS7D3 15613
DIGITAL REALTY TRUST INC DLR 0.27 1643580 BBG000Q5ZRM7 8459
LAM RESH CORP LRCX 0.27 1646120 BBG000BNFLM9 5301
SIMON PROPERTY GROUP INC SPG 0.27 1647050 BBG000BJ2D31 7490
MEDTRONIC PLC MDT 0.26 1612200 BBG000BNWG87 17467
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1594270 N/A 33346
PUBLIC STORAGE PSA 0.25 1544310 BBG000BPPN67 4785
AO Smith Corp AOS 0.25 1552570 BBG000BC1L02 24869
NETFLIX INC NFLX 0.25 1536200 BBG000CL9VN6 19169
STANLEY BLACK & DECKER INC SWK 0.25 1544230 BBG000BTQR96 15622
ABBVIE INC ABBV 0.25 1551870 BBG0025Y4RY4 5927
KENVUE INC KVUE 0.24 1465670 BBG01C79X561 77426
Kimberly-Clark Corp KMB 0.24 1476660 BBG000BMW2Z0 13586
EQUITY RESIDENTIAL EQR 0.24 1457180 BBG000BG8M31 22369.9
FRANKLIN RESOURCES INC BEN 0.24 1485710 BBG000BD0TF8 43736
T ROWE PRICE GROUP INC TROW 0.24 1490220 BBG000BVMPN3 13283
Barrick Mining Corp ABX 0.24 1497900 N/A 32373
GENUINE PARTS CO GPC 0.23 1399650 BBG000BKL348 10530
HORMEL FOODS CORP HRL 0.23 1430350 BBG000BLF8D2 59400
International Business Machines Corporation IBM 0.23 1389750 BBG000BLNNH6 5947
PPG INDUSTRIES INC PPG 0.22 1328140 BBG000BRJ809 11812
EVERSOURCE ENERGY ES 0.22 1369980 BBG000BQ87N0 18988
Ventas Inc. VTR 0.22 1362210 BBG000FRVHB9 14698
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1307180 BBG000PVRDL2 8700
GLENCORE PLC -UNSP ADR GLNCY 0.21 1297950 BBG001VKX1Z1 81581
PALO ALTO NETWORKS INC PANW 0.20 1253520 BBG0014GJCT9 3586
ILLINOIS TOOL WORKS ITW 0.19 1176200 BBG000BMBL90 4160
SPACE EXPLORATION TECH CORP A SPCX 0.19 1172630 BBG000NQF3Z5 8751
TEXAS INSTRUMENTS INC TXN 0.18 1086300 BBG000BVV7G1 4090
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1109750 BBG000BBTJZ1 4231
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1093530 N/A 40255
LINDE PLC LIN 0.17 1021780 BBG01FND0CC1 2123
SANDISK CORP/DE SNDKV SNDK 0.17 1048410 BBG01R388JG1 655
NUCOR CORP NUE 0.16 1000880 BBG000BQ8KV2 4162
IRON MOUNTAIN INC IRM 0.16 1007740 BBG000KCZPC3 8197
AMGEN INC AMGN 0.16 1001270 BBG000BBS2Y0 2322
KLA CORPORATION KLAC 0.16 1003460 BBG000BMTFR4 5399
FRANCO-NEVADA CORP FNV 0.15 936274 BBG000TRN6Z1 3627
EXTRA SPACE STORAGE INC EXR 0.15 947176 BBG000PV27K3 6432
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 925976 BBG00ZXBJ153 3689
Crowdstrike Holdings Inc. Class A CRWD 0.14 833880 BBG00BLYKS03 4381
VICI PROPERTIES INC REIT VICI 0.14 848965 BBG00HVVB499 31952
T-MOBILE US INC TMUS 0.14 888159 BBG000NDV1D4 4901
QUALCOMM INC QCOM 0.13 773963 BBG000CGC1X8 4815
GILEAD SCIENCES INC GILD 0.13 787629 BBG000CKGBP2 5491
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 799226 BBG0113JGQF0 940
SHOPIFY INC - CLASS A SHOP 0.13 815230 BBG004DW5NB8 5539
ANALOG DEVICES INC ADI 0.13 777504 BBG000BB6G37 2100
VALE SA-SP ADR VALE 0.12 731493 BBG000BN5LG7 51405
BOOKING HOLDINGS INC BKNG 0.12 709361 BBG000BLBVN4 3380
WESTERN DIGITAL CORP WDC 0.11 700761 BBG000BWNFZ9 1494
ASML HOLDING NV-NY REG SHS ASML 0.11 689622 BBG000K6MRN4 394
VERTEX PHARMACEUTICALS INC VRTX 0.10 608873 BBG000C1S2X2 1127
FASTENAL CO FAST 0.09 574332 BBG000BJ8YN7 11337
INTUITIVE SURGICAL INC ISRG 0.09 567337 BBG000BJPDZ1 1515
ESSEX PROPERTY TRUST INC ESS 0.09 542046 BBG000CGJMB9 1884
STARBUCKS CORP SBUX 0.09 530661 BBG000CTQBF3 5103
INVITATION HOMES INC REIT USD.01 INVH 0.09 546676 BBG00FQH6BS9 18060
Sun Communities Inc SUI 0.08 472284 BBG000BLJWF3 3862
ARM HOLDINGS PLC ARM 0.08 484892 BBG01J1GXZF0 1934
MID-AMERICA APARTMENT COMM MAA 0.08 472907 BBG000BLMY92 3581
W. P. CAREY REIT INC WPC 0.08 467993 BBG000BCQM58 6499
HOST HOTELS & RESORTS INC HST 0.07 438341 BBG000BL8804 18984
CONSTELLATION ENERGY CORPORATION CEG 0.07 430941 BBG014KFRNP7 1579
DOORDASH INC CLASS A DASH 0.07 404918 BBG005D7QCJ3 1821
ADOBE SYSTEMS INC ADBE 0.07 456785 BBG000BB5006 1678
KIMCO REALTY CORP KIM 0.07 453266 BBG000CN3S73 18761
MONSTER BEVERAGE CORP MNST 0.07 411263 BBG008NVB1C0 8660
MERCADOLIBRE INC MELI 0.07 426675 BBG000GQPB11 222
INTUIT INC INTU 0.07 411808 BBG000BH5DV1 1138
CSX CORP CSX 0.07 421726 BBG000BGJRC8 8274
FORTINET INC FTNT 0.07 447545 BBG000BCMBG4 2968
APPLOVIN CORP APP 0.07 423015 BBG006HFPX77 1370
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 369767 BBG000D4LWF6 5765
CADENCE DESIGN SYS INC CDNS 0.06 386656 BBG000C13CD9 1233
COMCAST CORP-CLASS A CMCSA 0.06 394477 BBG000BFT2L4 14931
Marriott International, Inc Class A MAR 0.06 397609 BBG000BGD7W6 1115
AIRBNB INC ABNB 0.06 363895 BBG001Y2XS07 1967
REGENERON PHARMACEUTICALS REGN 0.06 388521 BBG000C734W3 470
CINTAS CORP CTAS 0.06 355549 BBG000H3YXF8 1747
Datadog Inc. Class A DDOG 0.06 357662 BBG003NJHZT9 1538
PACCAR INC PCAR 0.05 288826 BBG000BQVTF5 2240
Warner Bros Discovery Inc WBD 0.05 321681 BBG011386VF4 11395
NXP Semiconductors NV NXPI 0.05 280942 BBG000BND699 1260
ROSS STORES INC ROST 0.05 326082 BBG000BSBZH7 1424
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 322331 BBG000B9ZXB4 2824
SYNOPSYS INC SNPS 0.05 307990 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 296581 BBG000BNSZP1 1102
CONSOLIDATED EDISON INC ED 0.05 295578 BBG000BHLYS1 2729
OREILLY AUTOMOTIVE INC ORLY 0.05 297527 BBG000BGYWY6 3340
LUMENTUM HOLDINGS INC LITE 0.05 287525 BBG0073F9RT7 327
AMERICAN ELECTRIC POWER AEP 0.05 291373 BBG000BB9KF2 2318
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 318529 BBG022XF4SZ9 1459
XCEL ENERGY INC XEL 0.04 239751 BBG000BCTQ65 3046
PAYPAL HOLDINGS INC PYPL 0.04 259978 BBG0077VNXV6 4173
ASTERA LABS INC ALAB 0.04 217599 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 247667 BBG00GBVBK51 3945
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 272605 BBG000C30L48 208
TERADYNE INC TER 0.04 239469 BBG000BV4DR6 625
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 235171 BBG00CMNZNK7 235171
AUTODESK INC ADSK 0.04 256040 BBG000BM7HL0 1020
DIAMONDBACK ENERGY INC FANG 0.04 249004 BBG002PHSYX9 1180
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 242420 BBG00LBLDDR2 2708
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 232826 BBG00B6BFWH9 2179
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 237720 BBG020QYV152 1433
PAYCHEX INC PAYX 0.03 188790 BBG000BQSQ38 1536
MICROCHIP TECHNOLOGY INC MCHP 0.03 179821 BBG000BHCP19 2372
ROPER TECHNOLOGIES INC ROP 0.03 187576 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 209463 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 172410 BBG000CHSS88 843
IDEXX LABS IDXX 0.03 175767 BBG000BLRT07 322
EXELON CORP EXC 0.03 175509 BBG000J6XT05 3895
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 177711 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 181443 BBG000TJM7F0 5731
FERROVIAL SA FER 0.03 172645 BBG01H0DF657 2733.88
Nebius Group NV NBIS 0.03 206683 BBG001NVJ6W4 939
ROCKET LAB CORP RKLB 0.03 200321 BBG01V7JN3F3 2746
THOMSON REUTERS CORP TRI 0.03 194396 N/A 1836
KRAFT HEINZ CO/THE KHC 0.02 117596 BBG005CPNTQ2 4599
WORKDAY INC-CLASS A WDAY 0.02 147398 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 134370 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 130049 BBG01BFR8YV1 1756
COREWEAVE INC CRWV 0.02 148373 BBG011ZTRJ21 1653
COPART INC CPRT 0.02 140993 BBG000BM9RH1 4107
DEXCOM INC DXCM 0.02 129195 BBG000QTF8K1 1432
MICROSTRATEGY INC-CL A MSTR 0.02 143072 BBG000GQJPZ0 1273
Cash & Other Cash&Other -0.01 -50379.5 N/A -50379.5

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.