RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 10/06/2026
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 $30.35
30 DAY MEDIAN BID-ASK SPREAD 0.000667

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
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 10/06/2026

NET ASSET VALUE

$30.35

CLOSING PRICE

$30.35

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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 2
Discount 16 8 14 21 2

Asset Allocation

As of 10/6/2026

Equities

42.34%
Nasdaq
18.21%
US Large Cap
15.04%
US Small Cap
3.01%
Dividend Payers
2.07%
Emerging Ex. China
2.03%
Japan
1.00%
Europe
0.98%

Fixed Income

28.77%
Long Term Treasuries
7.85%
Corporate Bonds
5.91%
High Yield
5.91%
Emerging Mkt Bonds
3.94%
TIPS
2.96%
T-Bills
2.20%

Alternatives

28.89%
Commodities
9.89%
Energy
5.05%
Managed Futures
4.98%
Miners
3.99%
Real Estate
2.00%
Gold
1.98%
Bitcoin
1.00%

Holdings

As of 10/06/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.04 92672200 BBG00RYR67P4 1858650
INVESCO OPTIMUM YIELD DIVERS PDBC 9.89 60894800 N/A 3129230
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 7.85 48370900 BBG00PZFJPC3 1711640
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.91 36426400 BBG000PWYVH7 465572
SCHWAB HIGH YIELD BOND ETF SCYB 5.91 36398600 BBG01F80WX71 1443810
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.94 24293300 BBG000NXKWH0 267106
iM DBi Managed Futures Strategy ETF DBMF 3.52 21712400 N/A 657156
Vanguard Morningstar Small-Cap ETF VB 3.01 18551300 BBG000HT3Z79 63735
SCHWAB U.S. TIPS ETF SCHP 2.96 18226400 BBG000BGN6P5 725574
ISHARES MSCI EMR MRK EX CHNA EMXC 2.03 12494600 BBG00H5VLMJ6 122628
SPROTT PHYSICAL GOLD TRUS PHYS 1.98 12202200 BBG000Q83F79 388235
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 12161400 BBG01922X0X9 243814
NVIDIA CORP NVDA 1.54 9464570 BBG000BBJQV0 39561
Simplify DBi CTA Managed Futures Index ETF SDMF 1.46 8992030 BBG020BR8WR7 327340
APPLE INC AAPL 1.28 7905360 BBG000B9XRY4 23695
MICROSOFT CORP MSFT 1.04 6420940 BBG000BPH459 12131
Franklin FTSE Japan ETF FLJP 1.00 6148020 BBG00J3MDY16 145895
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.00 6179540 N/A 163307
Franklin FTSE Europe ETF FLEE 0.98 6051420 BBG00J3PR1S7 160430
MICRON TECHNOLOGY INC MU 0.88 5395090 BBG000C5Z1S3 5160
BHP GROUP LTD BHP 0.86 5291600 BBG000BD5NZ4 60823
ADVANCED MICRO DEVICES INC AMD 0.78 4826490 BBG000BBQCY0 7432
AMAZON.COM INC AMZN 0.73 4522240 BBG000BVPV84 17645
META PLATFORMS INC META 0.60 3678140 BBG000MM2P62 4978
CHEVRON CORP CVX 0.56 3455170 BBG000K4ND22 16645
SPACE EXPLORATION TECH CORP A SPCX 0.55 3360350 BBG000NQF3Z5 19546
Tesla Inc. TSLA 0.54 3303540 BBG000N9MNX3 8678
MARATHON PETROLEUM CORP MPC 0.54 3295880 BBG001DCCGR8 7623
EQT CORP EQT 0.53 3254240 BBG000BHZ5J9 62021
WILLIAMS COMPANIES INC. WMB 0.53 3249590 BBG000BWVCP8 44890
ALPHABET INC-CL A GOOGL 0.53 3295310 BBG009S39JX6 9478
OCCIDENTAL PETROLEUM CORP OXY 0.52 3214920 BBG000BQQ2S6 55116
Cheniere Energy Inc LNG 0.51 3126950 BBG000C3HSR0 11360
CANADIAN NATURAL RESOURCES CNQ 0.50 3060940 BBG000HW5GX3 63637
SCHLUMBERGER LTD SLB 0.50 3093200 BBG000BT41Q8 61864
Broadcom Inc. AVGO 0.50 3058340 BBG00KHY5S69 8138
ALPHABET INC-CL C GOOG 0.50 3075810 BBG009S3NB30 8926
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.50 3059000 BBG023CY9MM1 18598
Suncor Energy Inc. SU 0.49 3020850 BBG000BC1LY5 44281
NEWMONT GOLDCORP CORPORATION COM NEM 0.47 2925110 BBG000BPWXK1 25132
INTEL CORP INTC 0.42 2611800 BBG000C0G1D1 23216
WAL-MART STORES INC WMT 0.40 2467960 BBG000BWXBC2 23022
FREEPORT-MCMORAN INC FCX 0.39 2413560 BBG000BJDB15 33263
RIO TINTO PLC-SPON ADR RIO 0.39 2386700 BBG000FD28T3 24890
AGNICO EAGLE MINES LTD AEM 0.36 2206690 BBG000DLVDK3 11862
CISCO SYSTEMS INC CSCO 0.34 2105230 BBG000C3J3C9 17850
APPLIED MATERIALS INC AMAT 0.32 1946620 BBG000BBPFB9 3671
COSTCO WHOLESALE CORP COST 0.32 1978960 BBG000F6H8W8 2115
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.32 1994070 BBG000N7QR55 10382
LAM RESH CORP LRCX 0.31 1907180 BBG000BNFLM9 5712
WELLTOWER INC WELL 0.27 1648190 BBG000BKY1G5 7300
GLENCORE PLC -UNSP ADR GLNCY 0.26 1632430 BBG001VKX1Z1 107680
Barrick Mining Corp. B 0.26 1580750 N/A 38820
PALO ALTO NETWORKS INC PANW 0.25 1513360 BBG0014GJCT9 3604
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1430870 BBG000PVRDL2 10395
PROLOGIS INC PLD 0.22 1334410 BBG000B9Z0J8 10370
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1364050 N/A 49801
NUCOR CORP NUE 0.21 1283720 BBG000BQ8KV2 5113
TEXAS INSTRUMENTS INC TXN 0.21 1284330 BBG000BVV7G1 4321
NETFLIX INC NFLX 0.21 1316860 BBG000CL9VN6 19171
Crowdstrike Holdings Inc. Class A CRWD 0.21 1283870 BBG00BLYKS03 4604
REALTY INCOME CORP O 0.20 1209940 BBG000DHPN63 22303
KLA CORPORATION KLAC 0.20 1239060 BBG000BMTFR4 6275
EQUINIX INC EQIX 0.19 1195040 BBG000MBDGM6 1141
PEPSICO INC PEP 0.19 1144090 BBG000DH7JK6 9101
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1146030 BBG00ZXBJ153 3993
AUTOMATIC DATA PROCESSING ADP 0.18 1085650 BBG000JG0547 4138
FRANCO-NEVADA CORP FNV 0.17 1065220 BBG000TRN6Z1 4366
AMGEN INC AMGN 0.17 1037500 BBG000BBS2Y0 2577
LINDE PLC LIN 0.17 1077400 BBG01FND0CC1 2199
VALE SA-SP ADR VALE 0.17 1023980 BBG000BN5LG7 72726
SANDISK CORP/DE SNDKV SNDK 0.17 1072660 BBG01R388JG1 646
ANALOG DEVICES INC ADI 0.16 968527 BBG000BB6G37 2303
Cash & Other Cash&Other 0.15 950557 N/A 950557
SHOPIFY INC - CLASS A SHOP 0.15 895211 BBG004DW5NB8 5444
QUALCOMM INC QCOM 0.14 878176 BBG000CGC1X8 4851
GILEAD SCIENCES INC GILD 0.14 852544 BBG000CKGBP2 5911
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 859607 BBG0113JGQF0 1067
DIGITAL REALTY TRUST INC DLR 0.14 844774 BBG000Q5ZRM7 4575
T-MOBILE US INC TMUS 0.14 864827 BBG000NDV1D4 5212
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 860323 BBG00CMNZNK7 860323
SIMON PROPERTY GROUP INC SPG 0.13 829555 BBG000BJ2D31 4112
PUBLIC STORAGE PSA 0.12 746068 BBG000BPPN67 2610
ASML HOLDING NV-NY REG SHS ASML 0.12 761152 BBG000K6MRN4 415
Vivmark Residential VMRK 0.12 716109 BBG000BG8M31 11862
WESTERN DIGITAL CORP WDC 0.11 693013 BBG000BWNFZ9 1686
INTUITIVE SURGICAL INC ISRG 0.11 684449 BBG000BJPDZ1 1691
FORTINET INC FTNT 0.11 655291 BBG000BCMBG4 3426
Ventas Inc. VTR 0.11 697120 BBG000FRVHB9 8516
KENVUE INC KVUE 0.10 599450 BBG01C79X561 34079
AO Smith Corp AOS 0.10 601205 BBG000BC1L02 10566
Kimberly-Clark Corp KMB 0.10 597071 BBG000BMW2Z0 6170
HORMEL FOODS CORP HRL 0.10 611211 BBG000BLF8D2 30745
MEDTRONIC PLC MDT 0.10 607975 BBG000BNWG87 6981
ARM HOLDINGS PLC ARM 0.10 609961 BBG01J1GXZF0 2016
FRANKLIN RESOURCES INC BEN 0.10 613765 BBG000BD0TF8 18920
VERTEX PHARMACEUTICALS INC VRTX 0.10 604279 BBG000C1S2X2 1203
STANLEY BLACK & DECKER INC SWK 0.10 609232 BBG000BTQR96 6770
CLOROX COMPANY CLX 0.10 626149 BBG000BFS7D3 7497
T ROWE PRICE GROUP INC TROW 0.10 603988 BBG000BVMPN3 5830
ABBVIE INC ABBV 0.10 624588 BBG0025Y4RY4 2342
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 602908 N/A 14434
GENUINE PARTS CO GPC 0.09 584929 BBG000BKL348 4592
IRON MOUNTAIN INC IRM 0.09 576442 BBG000KCZPC3 4948
ILLINOIS TOOL WORKS ITW 0.09 527334 BBG000BMBL90 1974
International Business Machines Corporation IBM 0.09 578452 BBG000BLNNH6 2614
BOOKING HOLDINGS INC BKNG 0.09 541459 BBG000BLBVN4 3435
STARBUCKS CORP SBUX 0.09 529662 BBG000CTQBF3 5511
PPG INDUSTRIES INC PPG 0.08 511189 BBG000BRJ809 4799
CONSTELLATION ENERGY CORPORATION CEG 0.08 517589 BBG014KFRNP7 1723
Marriott International, Inc Class A MAR 0.08 463161 BBG000BGD7W6 1282
EVERSOURCE ENERGY ES 0.08 517316 BBG000BQ87N0 7927
EXTRA SPACE STORAGE INC EXR 0.08 462992 BBG000PV27K3 3458
LUMENTUM HOLDINGS INC LITE 0.08 478295 BBG0073F9RT7 422
CADENCE DESIGN SYS INC CDNS 0.07 447999 BBG000C13CD9 1246
ADOBE SYSTEMS INC ADBE 0.07 452428 BBG000BB5006 1900
MONSTER BEVERAGE CORP MNST 0.07 412778 BBG008NVB1C0 9544
MERCADOLIBRE INC MELI 0.07 440344 BBG000GQPB11 237
APPLOVIN CORP APP 0.07 411479 BBG006HFPX77 1476
CSX CORP CSX 0.07 428402 BBG000BGJRC8 9019
VICI PROPERTIES INC REIT VICI 0.07 407299 BBG00HVVB499 17919
SYNOPSYS INC SNPS 0.07 461725 BBG000BSFRF3 914
Datadog Inc. Class A DDOG 0.07 438506 BBG003NJHZT9 1576
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 356259 BBG000BBTJZ1 1596
COMCAST CORP-CLASS A CMCSA 0.06 366302 BBG000BFT2L4 17254
ROSS STORES INC ROST 0.06 341920 BBG000BSBZH7 1525
REGENERON PHARMACEUTICALS REGN 0.06 350153 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 380076 BBG005D7QCJ3 1963
INTUIT INC INTU 0.06 375884 BBG000BH5DV1 1297
CINTAS CORP CTAS 0.06 378399 BBG000H3YXF8 1931
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 367259 BBG000D4LWF6 6160
PACCAR INC PCAR 0.05 279203 BBG000BQVTF5 2554
FASTENAL CO FAST 0.05 280725 BBG000BJ8YN7 5525
ASTERA LABS INC ALAB 0.05 293130 BBG00TDKHW99 752
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 319791 BBG000C30L48 217
ESSEX PROPERTY TRUST INC ESS 0.05 287477 BBG000CGJMB9 1055
TERADYNE INC TER 0.05 315855 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.05 292034 BBG000BND699 1195
AIRBNB INC ABNB 0.05 329922 BBG001Y2XS07 2057
OREILLY AUTOMOTIVE INC ORLY 0.05 334430 BBG000BGYWY6 3928
AMERICAN ELECTRIC POWER AEP 0.05 319262 BBG000BB9KF2 2624
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 324414 BBG022XF4SZ9 1524
XCEL ENERGY INC XEL 0.04 219063 BBG000BCTQ65 3012
PAYPAL HOLDINGS INC PYPL 0.04 232256 BBG0077VNXV6 4253
HOST HOTELS & RESORTS INC HST 0.04 257913 BBG000BL8804 11473
Omega Healthcare Investors Inc OHI 0.04 222686 BBG000BGBTC2 4974
Baker Hughes Company BKR 0.04 262227 BBG00GBVBK51 4590
HEALTHPEAK PROPERTIES INC DOC 0.04 219393 BBG000BKYDP9 11547
MID-AMERICA APARTMENT COMM MAA 0.04 222983 BBG000BLMY92 1906
KIMCO REALTY CORP KIM 0.04 242145 BBG000CN3S73 10937
INVITATION HOMES INC REIT USD.01 INVH 0.04 261023 BBG00FQH6BS9 9891
Nebius Group NV NBIS 0.04 267111 BBG001NVJ6W4 1069
DIAMONDBACK ENERGY INC FANG 0.04 243989 BBG002PHSYX9 1319
AUTODESK INC ADSK 0.04 233362 BBG000BM7HL0 1009
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 252840 BBG00LBLDDR2 3225
W. P. CAREY REIT INC WPC 0.04 239397 BBG000BCQM58 3740
MICROSTRATEGY INC-CL A MSTR 0.04 249622 BBG000GQJPZ0 1517
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 217761 BBG00B6BFWH9 2141
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 238288 BBG020QYV152 1514
PAYCHEX INC PAYX 0.03 173350 BBG000BQSQ38 1716
MICROCHIP TECHNOLOGY INC MCHP 0.03 212089 BBG000BHCP19 2610
ROPER TECHNOLOGIES INC ROP 0.03 162664 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 163262 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 175706 BBG000CHSS88 987
EXELON CORP EXC 0.03 204899 BBG000J6XT05 4916
IDEXX LABS IDXX 0.03 186578 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 191998 BBG000BS1YV5 948
KEURIG DR PEPPER INC KDP 0.03 204898 BBG000TJM7F0 6582
FERROVIAL SA FER 0.03 178200 BBG01H0DF657 3462.88
WORKDAY INC-CLASS A WDAY 0.03 183938 BBG000VC0T95 986
COREWEAVE INC CRWV 0.03 195730 BBG011ZTRJ21 2134
DEXCOM INC DXCM 0.03 154522 BBG000QTF8K1 1853
ROCKET LAB CORP RKLB 0.03 209342 BBG01V7JN3F3 2789
THOMSON REUTERS CORP TRI 0.03 179309 N/A 1828
AIR PRODUCTS & CHEMICALS INC APD 0.02 121111 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 131044 BBG000B9ZXB4 1335
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 136603 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 140940 BBG01BFR8YV1 2176
COPART INC CPRT 0.02 117820 BBG000BM9RH1 4393
MCDONALDS CORP MCD 0.02 120874 BBG000BNSZP1 520
CONSOLIDATED EDISON INC ED 0.02 123411 BBG000BHLYS1 1174

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.