RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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 04/02/2026
TICKER RAA
NET ASSETS $538M
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 $27.78
30 DAY MEDIAN BID-ASK SPREAD 0.000729

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 1.99% 0.22% 5.06% 2.57% 4.84% - 17.62% 12.32%
RAA - Market Price 1.98% 0.23% 5.04% 2.59% 4.80% - 17.60% 12.36%
S&P 500 Index Total Return -0.76% 0.06% 0.74% 2.65% 0.68% - 16.88% 16.19%
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 04/02/2026

NET ASSET VALUE

$27.78

CLOSING PRICE

$27.78

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 2
Discount 5 13 16 8 0

Asset Allocation

As of 4/2/2026

Equities

47.12%
Nasdaq
20.77%
US Large Cap
16.97%
Dividend Payers
2.34%
Japan
2.02%
US Small Cap
2.01%
Emerging Ex. China
2.00%
Europe
1.01%

Fixed Income

28.24%
High Yield
6.93%
Corporate Bonds
5.94%
TIPS
3.97%
Emerging Mkt Bonds
3.96%
Long Term Treasuries
3.95%
T-Bills
3.49%

Alternatives

24.64%
Managed Futures
7.79%
Commodities
5.02%
Miners
3.04%
Gold
2.99%
Energy
2.96%
Bitcoin
1.95%
Real Estate
0.89%

Holdings

As of 04/02/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 16.97 91334500 BBG00RYR67P4 728287
iM DBi Managed Futures Strategy ETF DBMF 7.79 41942300 N/A 1383780
SCHWAB HIGH YIELD BOND ETF SCYB 6.93 37274100 BBG01F80WX71 1433620
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.94 31959600 BBG000PWYVH7 386265
INVESCO OPTIMUM YIELD DIVERS PDBC 5.02 27019200 N/A 1542190
SCHWAB U.S. TIPS ETF SCHP 3.97 21351900 BBG000BGN6P5 800295
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 21289800 BBG000NXKWH0 226560
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.95 21265100 BBG00PZFJPC3 676157
SPROTT PHYSICAL GOLD TRUS PHYS 2.99 16083800 BBG000Q83F79 454474
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.97 15999100 BBG01922X0X9 320751
Franklin FTSE Japan ETF FLJP 2.02 10859500 BBG00J3MDY16 297196
VANGUARD SMALL-CAP ETF VB 2.01 10817200 BBG000HT3Z79 40872
ISHARES MSCI EMR MRK EX CHNA EMXC 2.00 10748000 BBG00H5VLMJ6 137039
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.95 10473100 N/A 353225
NVIDIA CORP NVDA 1.82 9776500 BBG000BBJQV0 55113
APPLE INC AAPL 1.61 8670830 BBG000B9XRY4 33881
MICROSOFT CORP MSFT 1.17 6291680 BBG000BPH459 16847
Franklin FTSE Europe ETF FLEE 1.01 5416780 BBG00J3PR1S7 147681
AMAZON.COM INC AMZN 0.93 5030490 BBG000BVPV84 23981
Tesla Inc. TSLA 0.76 4110370 BBG000N9MNX3 11399
WAL-MART STORES INC WMT 0.74 3962510 BBG000BWXBC2 31501
ALPHABET INC-CL A GOOGL 0.72 3867490 BBG009S39JX6 13076
META PLATFORMS INC META 0.68 3667350 BBG000MM2P62 6384
ALPHABET INC-CL C GOOG 0.67 3599180 BBG009S3NB30 12223
Broadcom Inc. AVGO 0.64 3426390 BBG00KHY5S69 10893
BHP GROUP LTD BHP 0.61 3298730 BBG000BD5NZ4 45040
COSTCO WHOLESALE CORP COST 0.54 2892640 BBG000F6H8W8 2850
MICRON TECHNOLOGY INC MU 0.54 2890730 BBG000C5Z1S3 7893
NETFLIX INC NFLX 0.49 2636200 BBG000CL9VN6 26720
ADVANCED MICRO DEVICES INC AMD 0.43 2289840 BBG000BBQCY0 10528
NEWMONT GOLDCORP CORPORATION COM NEM 0.40 2137410 BBG000BPWXK1 18741
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.40 2142870 BBG000N7QR55 14434
CISCO SYSTEMS INC CSCO 0.39 2092130 BBG000C3J3C9 26476
CHEVRON CORP CVX 0.36 1958660 BBG000K4ND22 9844
RIO TINTO PLC-SPON ADR RIO 0.36 1955120 BBG000FD28T3 20700
APPLIED MATERIALS INC AMAT 0.33 1799850 BBG000BBPFB9 5165
LAM RESH CORP LRCX 0.33 1773300 BBG000BNFLM9 8118
INTEL CORP INTC 0.30 1616740 BBG000C0G1D1 32091
CANADIAN NATURAL RESOURCES CNQ 0.30 1593730 BBG000HW5GX3 33531
OCCIDENTAL PETROLEUM CORP OXY 0.30 1595790 BBG000BQQ2S6 25342
Cheniere Energy Inc LNG 0.30 1610480 BBG000C3HSR0 5728
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.30 1639390 BBG000BRK7L6 24877
WILLIAMS COMPANIES INC. WMB 0.30 1604520 BBG000BWVCP8 22285
MARATHON PETROLEUM CORP MPC 0.30 1604360 BBG001DCCGR8 6637
AGNICO EAGLE MINES LTD AEM 0.30 1593660 BBG000DLVDK3 7642
SCHLUMBERGER LTD SLB 0.29 1541000 BBG000BT41Q8 31169
EXXON MOBIL CORP XOM 0.29 1544390 BBG000GZQ728 9611
EQT CORP EQT 0.28 1519070 BBG000BHZ5J9 25445
LINDE PLC LIN 0.28 1505790 BBG01FND0CC1 2996
T-MOBILE US INC TMUS 0.27 1446050 BBG000NDV1D4 7180
PEPSICO INC PEP 0.26 1384200 BBG000DH7JK6 8816
FREEPORT-MCMORAN INC FCX 0.26 1403020 BBG000BJDB15 22858
GLENCORE PLC -UNSP ADR GLNCY 0.24 1312250 BBG001VKX1Z1 88474
KLA CORPORATION KLAC 0.24 1289310 BBG000BMTFR4 850
AMGEN INC AMGN 0.22 1209090 BBG000BBS2Y0 3475
TEXAS INSTRUMENTS INC TXN 0.21 1134920 BBG000BVV7G1 5824
Barrick Mining Corp. B 0.21 1148510 N/A 27582
GILEAD SCIENCES INC GILD 0.20 1098960 BBG000CKGBP2 7866
AUTOMATIC DATA PROCESSING ADP 0.20 1057590 BBG000JG0547 5184
Simplify DBi CTA Managed Futures Index ETF SDMF 0.20 1067140 N/A 42346
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1049370 BBG000PVRDL2 7741
INTUITIVE SURGICAL INC ISRG 0.19 1021230 BBG000BJPDZ1 2259
FRANCO-NEVADA CORP FNV 0.18 945648 BBG000RD3CL8 3669
ANALOG DEVICES INC ADI 0.18 985581 BBG000BB6G37 3096
HONEYWELL INTERNATIONAL INC HON 0.17 935697 BBG000H556T9 4078
SHOPIFY INC - CLASS A SHOP 0.17 894680 BBG008HBD923 7566
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.17 913395 BBG00CMNZNK7 913395
Cash & Other Cash&Other 0.16 867475 N/A 867475
QUALCOMM INC QCOM 0.16 877202 BBG000CGC1X8 6918
BOOKING HOLDINGS INC BKNG 0.16 838862 BBG000BLBVN4 5000
REALTY INCOME CORP O 0.15 803380 BBG000DHPN63 12914
VALE SA-SP ADR VALE 0.15 814568 BBG000BN5LG7 50313
PALO ALTO NETWORKS INC PANW 0.15 796628 BBG0014GJCT9 4881
INTUIT INC INTU 0.14 732580 BBG000BH5DV1 1734
APPLOVIN CORP APP 0.14 743376 BBG006HFPX77 1924
ASML HOLDING NV-NY REG SHS ASML 0.14 745552 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 772027 N/A 34776
WELLTOWER INC WELL 0.13 707750 BBG000BKY1G5 3498
CONSTELLATION ENERGY CORPORATION CEG 0.13 695145 BBG014KFRNP7 2548
VERTEX PHARMACEUTICALS INC VRTX 0.13 705007 BBG000C1S2X2 1607
WESTERN DIGITAL CORP WDC 0.12 664862 BBG000BWNFZ9 2254
COMCAST CORP-CLASS A CMCSA 0.12 641720 BBG000BFT2L4 22976
ADOBE SYSTEMS INC ADBE 0.12 626248 BBG000BB5006 2578
STARBUCKS CORP SBUX 0.12 644790 BBG000CTQBF3 7135
PROLOGIS INC PLD 0.12 645306 BBG000B9Z0J8 4824
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 600675 BBG0113JGQF0 1399
Crowdstrike Holdings Inc. Class A CRWD 0.11 615842 BBG00BLYKS03 1543
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 584285 BBG00ZXBJ153 5455
KENVUE INC KVUE 0.10 533568 BBG01C79X561 31130
Kimberly-Clark Corp KMB 0.10 535829 BBG000BMW2Z0 5574
HORMEL FOODS CORP HRL 0.10 520109 BBG000BLF8D2 23545
MEDTRONIC PLC MDT 0.10 534247 BBG000BNWG87 6167
Marriott International, Inc Class A MAR 0.10 553991 BBG000BGD7W6 1669
CLOROX COMPANY CLX 0.10 525422 BBG000BFS7D3 5195
FRANKLIN RESOURCES INC BEN 0.10 530291 BBG000BD0TF8 22662
EVERSOURCE ENERGY ES 0.10 539226 BBG000BQ87N0 7762
STANLEY BLACK & DECKER INC SWK 0.10 519330 BBG000BTQR96 7566
ILLINOIS TOOL WORKS ITW 0.10 532429 BBG000BMBL90 2062
T ROWE PRICE GROUP INC TROW 0.10 530470 BBG000BVMPN3 5883
MERCADOLIBRE INC MELI 0.10 526665 BBG000GQPB11 307
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 547113 N/A 13701.8
AO Smith Corp AOS 0.09 504440 BBG000BC1L02 7839
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 484947 BBG000D4LWF6 8428
GENUINE PARTS CO GPC 0.09 464270 BBG000BKL348 4487
CADENCE DESIGN SYS INC CDNS 0.09 495564 BBG000C13CD9 1778
EQUINIX INC EQIX 0.09 489181 BBG000MBDGM6 489
REGENERON PHARMACEUTICALS REGN 0.09 487584 BBG000C734W3 640
MONSTER BEVERAGE CORP MNST 0.09 464688 BBG008NVB1C0 6421
CSX CORP CSX 0.09 488539 BBG000BGJRC8 11852
SYNOPSYS INC SNPS 0.09 469992 BBG000BSFRF3 1187
OREILLY AUTOMOTIVE INC ORLY 0.09 489646 BBG000BGYWY6 5356
AMERICAN ELECTRIC POWER AEP 0.09 467299 BBG000BB9KF2 3522
Warner Bros Discovery Inc WBD 0.08 437038 BBG011386VF4 15997
PPG INDUSTRIES INC PPG 0.08 457353 BBG000BRJ809 4430
J M Smucker Co COM STK NPV SJM 0.08 410521 BBG000BT1715 4300
ROSS STORES INC ROST 0.08 455799 BBG000BSBZH7 2072
ABBVIE INC ABBV 0.08 427495 BBG0025Y4RY4 2047
CINTAS CORP CTAS 0.08 440732 BBG000H3YXF8 2528
International Business Machines Corporation IBM 0.08 409960 BBG000BLNNH6 1652
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 430917 BBG00LBLDDR2 4272
PACCAR INC PCAR 0.07 392467 BBG000BQVTF5 3317
Baker Hughes Company BKR 0.07 402312 BBG00GBVBK51 6663
DOORDASH INC CLASS A DASH 0.07 401764 BBG005D7QCJ3 2568
FORTINET INC FTNT 0.07 384920 BBG000BCMBG4 4664
DIGITAL REALTY TRUST INC DLR 0.07 373736 BBG000Q5ZRM7 2057
DIAMONDBACK ENERGY INC FANG 0.07 368760 BBG002PHSYX9 1902
SIMON PROPERTY GROUP INC SPG 0.07 377529 BBG000BJ2D31 2001
XCEL ENERGY INC XEL 0.06 321345 BBG000BCTQ65 3980
PUBLIC STORAGE PSA 0.06 332775 BBG000BPPN67 1187
FASTENAL CO FAST 0.06 337064 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 329524 BBG000J6XT05 6680
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 346732 BBG000C30L48 310
AIRBNB INC ABNB 0.06 331742 BBG001Y2XS07 2655
NXP Semiconductors NV NXPI 0.06 312058 BBG000BND699 1604
AUTODESK INC ADSK 0.06 311647 BBG000BM7HL0 1309
FERROVIAL SE FER 0.06 299514 BBG01H7CZ9S9 4506
ELECTRONIC ARTS INC EA 0.06 325556 BBG000BP0KQ8 1599
Ventas Inc. VTR 0.05 270961 BBG000FRVHB9 3254
PAYPAL HOLDINGS INC PYPL 0.05 257259 BBG0077VNXV6 5674
Old Dominion Freight Line Inc. ODFL 0.05 264726 BBG000CHSS88 1337
IDEXX LABS IDXX 0.05 295027 BBG000BLRT07 518
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 257853 N/A 2859
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 257950 BBG000BFGNJ5 809
MICROSTRATEGY INC-CL A MSTR 0.05 249127 BBG000GQJPZ0 2079
Datadog Inc. Class A DDOG 0.05 248904 BBG003NJHZT9 2068
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 274296 BBG00B6BFWH9 2966
INSMED INC INSM 0.04 199951 BBG000BWM5P3 1231
PAYCHEX INC PAYX 0.04 210360 BBG000BQSQ38 2294
ROPER TECHNOLOGIES INC ROP 0.04 237742 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 218973 BBG000BHCP19 3338
CINCINNATI FINANCIAL CORP CINF 0.04 221774 BBG000BFPK65 1400
AXON ENTERPRISE INC AXON 0.04 216312 BBG000BHJWG1 524
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 193874 BBG000BBDV81 3100
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 225653 BBG000BS1YV5 1129
KEURIG DR PEPPER INC KDP 0.04 228119 BBG000TJM7F0 9013
VICI PROPERTIES INC REIT VICI 0.04 215195 BBG00HVVB499 7780
EXTRA SPACE STORAGE INC EXR 0.04 219129 BBG000PV27K3 1637
COPART INC CPRT 0.04 202738 BBG000BM9RH1 6070
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 200427 BBG01BFR8YV1 2849
AVALONBAY COMMUNITIES INC AVB 0.04 218814 BBG000BLPBL5 1318
KRAFT HEINZ CO/THE KHC 0.03 171062 BBG005CPNTQ2 7506
IRON MOUNTAIN INC IRM 0.03 162181 BBG000KCZPC3 1570
EQUITY RESIDENTIAL EQR 0.03 162729 BBG000BG8M31 2700
VERISK ANALYTICS INC VRSK 0.03 163611 BBG000BCZL41 884
CHARTER COMMUNICATIONS INC-A CHTR 0.03 180228 BBG000VPGNR2 820
WORKDAY INC-CLASS A WDAY 0.03 169822 BBG000VC0T95 1284
DEXCOM INC DXCM 0.03 153497 BBG000QTF8K1 2467
CONSOLIDATED EDISON INC ED 0.03 147173 BBG000BHLYS1 1275
Sun Communities Inc SUI 0.02 109346 BBG000BLJWF3 846
AIR PRODUCTS & CHEMICALS INC APD 0.02 108320 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 109783 BBG000D7JKW9 2748
ESSEX PROPERTY TRUST INC ESS 0.02 108582 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 108405 BBG000BGBTC2 2409
Zscaler Inc. ZS 0.02 132048 BBG003338H34 953
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 107396 BBG000B9ZXB4 1044
MID-AMERICA APARTMENT COMM MAA 0.02 108521 BBG000BLMY92 869
KIMCO REALTY CORP KIM 0.02 106898 BBG000CN3S73 4730
INVITATION HOMES INC REIT USD.01 INVH 0.02 109328 BBG00FQH6BS9 4279
MCDONALDS CORP MCD 0.02 105349 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 110012 BBG000BCQM58 1566
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 66719.3 BBG01BGWHFR5 977
ASTRAZENECA PLC AZNCF 0.00 610.47 BBG000D3MHB4 3

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.