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 07/13/2026
TICKER RAA
NET ASSETS $592M
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 $29.38
30 DAY MEDIAN BID-ASK SPREAD 0.000682

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/13/2026

NET ASSET VALUE

$29.38

CLOSING PRICE

$29.38

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 3
Discount 13 16 8 14 2

Asset Allocation

As of 7/13/2026

Equities

40.04%
Nasdaq
15.56%
US Large Cap
10.05%
Dividend Payers
3.82%
Emerging Ex. China
3.70%
US Small Cap
2.94%
Japan
1.99%
Europe
1.98%

Fixed Income

27.52%
High Yield
5.99%
Corporate Bonds
5.93%
Long Term Treasuries
5.85%
Emerging Mkt Bonds
3.97%
TIPS
2.98%
T-Bills
2.80%

Alternatives

32.44%
Commodities
7.46%
Managed Futures
7.10%
Miners
5.82%
Gold
4.00%
Energy
3.85%
Bitcoin
2.13%
Real Estate
2.08%

Holdings

As of 07/13/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.05 59490700 BBG00RYR67P4 414194
INVESCO OPTIMUM YIELD DIVERS PDBC 7.46 44171000 N/A 2613670
SCHWAB HIGH YIELD BOND ETF SCYB 5.99 35446800 BBG01F80WX71 1362820
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 35116500 BBG000PWYVH7 431142
iM DBi Managed Futures Strategy ETF DBMF 5.88 34798900 N/A 1122910
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.85 34618300 BBG00PZFJPC3 1135400
SPROTT PHYSICAL GOLD TRUS PHYS 4.00 23652100 BBG000Q83F79 784221
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.97 23488100 BBG000NXKWH0 246258
ISHARES MSCI EMR MRK EX CHNA EMXC 3.70 21902100 BBG00H5VLMJ6 232358
SCHWAB U.S. TIPS ETF SCHP 2.98 17629400 BBG000BGN6P5 673390
VANGUARD SMALL-CAP ETF VB 2.94 17400000 BBG000HT3Z79 58748
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.13 12599600 N/A 457836
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 11856700 BBG01922X0X9 237467
Franklin FTSE Japan ETF FLJP 1.99 11805800 BBG00J3MDY16 298276
Franklin FTSE Europe ETF FLEE 1.98 11740100 BBG00J3PR1S7 306410
NVIDIA CORP NVDA 1.23 7296750 BBG000BBJQV0 35851
BHP GROUP LTD BHP 1.22 7230380 BBG000BD5NZ4 88858
Simplify DBi CTA Managed Futures Index ETF SDMF 1.22 7208550 BBG020BR8WR7 279936
APPLE INC AAPL 1.16 6856750 BBG000B9XRY4 21609
MICRON TECHNOLOGY INC MU 0.74 4372980 BBG000C5Z1S3 4667
MICROSOFT CORP MSFT 0.73 4343900 BBG000BPH459 11110
AMAZON.COM INC AMZN 0.68 4026210 BBG000BVPV84 16280
NEWMONT GOLDCORP CORPORATION COM NEM 0.68 4014560 BBG000BPWXK1 43121
RIO TINTO PLC-SPON ADR RIO 0.65 3824560 BBG000FD28T3 42566
ADVANCED MICRO DEVICES INC AMD 0.57 3396580 BBG000BBQCY0 6356
CHEVRON CORP CVX 0.56 3307840 BBG000K4ND22 18155
ALPHABET INC-CL A GOOGL 0.52 3062960 BBG009S39JX6 8689
FREEPORT-MCMORAN INC FCX 0.51 3042100 BBG000BJDB15 50727
Tesla Inc. TSLA 0.50 2938990 BBG000N9MNX3 7445
META PLATFORMS INC META 0.50 2953310 BBG000MM2P62 4497
AGNICO EAGLE MINES LTD AEM 0.48 2831600 BBG000DLVDK3 19731
ALPHABET INC-CL C GOOG 0.48 2857960 BBG009S3NB30 8150
GLENCORE PLC -UNSP ADR GLNCY 0.47 2790120 BBG001VKX1Z1 205005
Broadcom Inc. AVGO 0.46 2715230 BBG00KHY5S69 7070
MARATHON PETROLEUM CORP MPC 0.46 2702500 BBG001DCCGR8 9103
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.45 2677990 BBG000BRK7L6 43708
OCCIDENTAL PETROLEUM CORP OXY 0.44 2628080 BBG000BQQ2S6 47949
CANADIAN NATURAL RESOURCES CNQ 0.43 2564400 BBG000HW5GX3 59568
Cheniere Energy Inc LNG 0.43 2560500 BBG000C3HSR0 9725
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.42 2509560 N/A 17366
SCHLUMBERGER LTD SLB 0.41 2413510 BBG000BT41Q8 50961
WAL-MART STORES INC WMT 0.40 2348740 BBG000BWXBC2 20463
WILLIAMS COMPANIES INC. WMB 0.39 2336410 BBG000BWVCP8 31378
EQT CORP EQT 0.37 2197770 BBG000BHZ5J9 44203
Barrick Mining Corp. B 0.37 2213260 N/A 61582
INTEL CORP INTC 0.34 2023110 BBG000C0G1D1 19619
CISCO SYSTEMS INC CSCO 0.33 1950690 BBG000C3J3C9 16358
NUCOR CORP NUE 0.32 1914790 BBG000BQ8KV2 8218
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.32 1915800 N/A 79428
REALTY INCOME CORP O 0.31 1844820 BBG000DHPN63 28749
APPLIED MATERIALS INC AMAT 0.30 1800970 BBG000BBPFB9 3130
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.30 1777250 BBG000PVRDL2 16482
AUTOMATIC DATA PROCESSING ADP 0.30 1754590 BBG000JG0547 6989
COSTCO WHOLESALE CORP COST 0.29 1727790 BBG000F6H8W8 1865
LAM RESH CORP LRCX 0.28 1648940 BBG000BNFLM9 4998
WELLTOWER INC WELL 0.26 1549670 BBG000BKY1G5 6607
FRANCO-NEVADA CORP FNV 0.25 1491850 BBG000RD3CL8 7441
VALE SA-SP ADR VALE 0.25 1505310 BBG000BN5LG7 106157
PROLOGIS INC PLD 0.25 1472070 BBG000B9Z0J8 10355
NETFLIX INC NFLX 0.22 1318380 BBG000CL9VN6 17857
MEDTRONIC PLC MDT 0.21 1253470 BBG000BNWG87 14999
KENVUE INC KVUE 0.20 1194640 BBG01C79X561 62124
Kimberly-Clark Corp KMB 0.20 1189830 BBG000BMW2Z0 10799
FRANKLIN RESOURCES INC BEN 0.20 1154630 BBG000BD0TF8 35170
EVERSOURCE ENERGY ES 0.20 1172080 BBG000BQ87N0 15657
CLOROX COMPANY CLX 0.20 1190220 BBG000BFS7D3 12522
ILLINOIS TOOL WORKS ITW 0.20 1200570 BBG000BMBL90 4422
T ROWE PRICE GROUP INC TROW 0.20 1174690 BBG000BVMPN3 10336
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1212100 BBG000N7QR55 9321
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1161820 N/A 27382
HORMEL FOODS CORP HRL 0.19 1146340 BBG000BLF8D2 46866
EQUINIX INC EQIX 0.19 1143480 BBG000MBDGM6 1100
PALO ALTO NETWORKS INC PANW 0.19 1144160 BBG0014GJCT9 3464
KLA CORPORATION KLAC 0.19 1137920 BBG000BMTFR4 5120
GENUINE PARTS CO GPC 0.18 1062770 BBG000BKL348 8604
TEXAS INSTRUMENTS INC TXN 0.18 1092170 BBG000BVV7G1 3658
STANLEY BLACK & DECKER INC SWK 0.18 1085430 BBG000BTQR96 12544
International Business Machines Corporation IBM 0.18 1058180 BBG000BLNNH6 3646
LINDE PLC LIN 0.17 992570 BBG01FND0CC1 1894
AO Smith Corp AOS 0.16 958790 BBG000BC1L02 16106
PPG INDUSTRIES INC PPG 0.16 935992 BBG000BRJ809 8222
SANDISK CORP/DE SNDKV SNDK 0.16 959185 BBG01R388JG1 573
ABBVIE INC ABBV 0.16 969432 BBG0025Y4RY4 3909
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 859799 BBG0113JGQF0 999
T-MOBILE US INC TMUS 0.15 872338 BBG000NDV1D4 4630
PEPSICO INC PEP 0.14 807535 BBG000DH7JK6 5831
WESTERN DIGITAL CORP WDC 0.14 854991 BBG000BWNFZ9 1539
QUALCOMM INC QCOM 0.14 807120 BBG000CGC1X8 4387
AMGEN INC AMGN 0.14 813175 BBG000BBS2Y0 2256
J M Smucker Co COM STK NPV SJM 0.14 838923 BBG000BT1715 7590
Crowdstrike Holdings Inc. Class A CRWD 0.14 809140 BBG00BLYKS03 4306
SIMON PROPERTY GROUP INC SPG 0.14 813210 BBG000BJ2D31 3705
ANALOG DEVICES INC ADI 0.13 775880 BBG000BB6G37 2010
Ventas Inc. VTR 0.12 681428 BBG000FRVHB9 7402
PUBLIC STORAGE PSA 0.12 711311 BBG000BPPN67 2210
ERIE INDEMNITY COMPANY-CL A ERIE 0.12 689357 BBG000BBTJZ1 2789
DIGITAL REALTY TRUST INC DLR 0.12 718441 BBG000Q5ZRM7 4038
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 732424 BBG00ZXBJ153 3367
SHOPIFY INC - CLASS A SHOP 0.11 678336 BBG008HBD923 5438
INTUITIVE SURGICAL INC ISRG 0.11 669305 BBG000BJPDZ1 1644
GILEAD SCIENCES INC GILD 0.11 680521 BBG000CKGBP2 5179
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.11 655759 BBG00CMNZNK7 655759
ASML HOLDING NV-NY REG SHS ASML 0.11 676608 BBG000K6MRN4 392
BOOKING HOLDINGS INC BKNG 0.10 573635 BBG000BLBVN4 3263
IRON MOUNTAIN INC IRM 0.09 553480 BBG000KCZPC3 4523
ARM HOLDINGS PLC ARM 0.09 503798 BBG01J1GXZF0 1685
VERTEX PHARMACEUTICALS INC VRTX 0.09 559491 BBG000C1S2X2 1165
STARBUCKS CORP SBUX 0.09 511904 BBG000CTQBF3 4769
FORTINET INC FTNT 0.09 519284 BBG000BCMBG4 3233
APPLOVIN CORP APP 0.09 546477 BBG006HFPX77 1234
CADENCE DESIGN SYS INC CDNS 0.08 469755 BBG000C13CD9 1243
FASTENAL CO FAST 0.08 450457 BBG000BJ8YN7 9574
Marriott International, Inc Class A MAR 0.08 447419 BBG000BGD7W6 1233
EXTRA SPACE STORAGE INC EXR 0.08 465315 BBG000PV27K3 3202
VICI PROPERTIES INC REIT VICI 0.08 465379 BBG00HVVB499 17628
AVALONBAY COMMUNITIES INC AVB 0.08 457535 BBG000BLPBL5 2352
COMCAST CORP-CLASS A CMCSA 0.07 406387 BBG000BFT2L4 16954
EQUITY RESIDENTIAL EQR 0.07 431148 BBG000BG8M31 6184
CONSTELLATION ENERGY CORPORATION CEG 0.07 432975 BBG014KFRNP7 1681
ADOBE SYSTEMS INC ADBE 0.07 408180 BBG000BB5006 1770
MONSTER BEVERAGE CORP MNST 0.07 441766 BBG008NVB1C0 4551
MERCADOLIBRE INC MELI 0.07 431346 BBG000GQPB11 231
CSX CORP CSX 0.07 442342 BBG000BGJRC8 8911
SYNOPSYS INC SNPS 0.07 392173 BBG000BSFRF3 904
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 354730 BBG000D4LWF6 5926
NXP Semiconductors NV NXPI 0.06 330171 BBG000BND699 1186
DOORDASH INC CLASS A DASH 0.06 346534 BBG005D7QCJ3 1828
INTUIT INC INTU 0.06 352058 BBG000BH5DV1 1215
CINTAS CORP CTAS 0.06 348206 BBG000H3YXF8 1895
OREILLY AUTOMOTIVE INC ORLY 0.06 344407 BBG000BGYWY6 3946
Datadog Inc. Class A DDOG 0.06 369281 BBG003NJHZT9 1419
AMERICAN ELECTRIC POWER AEP 0.06 350197 BBG000BB9KF2 2582
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 321818 BBG022XF4SZ9 1448
PACCAR INC PCAR 0.05 305058 BBG000BQVTF5 2455
Warner Bros Discovery Inc WBD 0.05 316384 BBG011386VF4 11679
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 289269 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 303430 BBG000CGJMB9 1020
ROSS STORES INC ROST 0.05 313169 BBG000BSBZH7 1427
AIRBNB INC ABNB 0.05 281246 BBG001Y2XS07 1922
REGENERON PHARMACEUTICALS REGN 0.05 310989 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 315222 BBG00FQH6BS9 10469
XCEL ENERGY INC XEL 0.04 232185 BBG000BCTQ65 2885
MICROCHIP TECHNOLOGY INC MCHP 0.04 212681 BBG000BHCP19 2525
Sun Communities Inc SUI 0.04 243050 BBG000BLJWF3 2012
HOST HOTELS & RESORTS INC HST 0.04 246872 BBG000BL8804 10701
ASTERA LABS INC ALAB 0.04 232074 BBG00TDKHW99 641
Baker Hughes Company BKR 0.04 263852 BBG00GBVBK51 4576
Old Dominion Freight Line Inc. ODFL 0.04 220090 BBG000CHSS88 945
TERADYNE INC TER 0.04 215582 BBG000BV4DR6 632
EXELON CORP EXC 0.04 231071 BBG000J6XT05 4907
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 207969 BBG000BS1YV5 852
MID-AMERICA APARTMENT COMM MAA 0.04 232100 BBG000BLMY92 1708
KIMCO REALTY CORP KIM 0.04 232443 BBG000CN3S73 9257
FERROVIAL SE FER 0.04 213204 BBG01H7CZ9S9 3347
AUTODESK INC ADSK 0.04 210522 BBG000BM7HL0 992
MCDONALDS CORP MCD 0.04 239079 BBG000BNSZP1 877
DIAMONDBACK ENERGY INC FANG 0.04 250996 BBG002PHSYX9 1310
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 250720 BBG00LBLDDR2 2965
W. P. CAREY REIT INC WPC 0.04 241525 BBG000BCQM58 3330
LUMENTUM HOLDINGS INC LITE 0.04 255026 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 228748 BBG00B6BFWH9 2158
ELECTRONIC ARTS INC EA 0.04 232969 BBG000BP0KQ8 1129
PAYCHEX INC PAYX 0.03 174764 BBG000BQSQ38 1578
PAYPAL HOLDINGS INC PYPL 0.03 203990 BBG0077VNXV6 4281
ROPER TECHNOLOGIES INC ROP 0.03 167314 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 198572 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 195972 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 204808 BBG000BLRT07 363
KEURIG DR PEPPER INC KDP 0.03 199969 BBG000TJM7F0 6399
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 198313 BBG000B9ZXB4 2153
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 178885 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 175565 BBG001NVJ6W4 834
CONSOLIDATED EDISON INC ED 0.03 195797 BBG000BHLYS1 1751
ROCKET LAB CORP RKLB 0.03 180546 BBG01V7JN3F3 2353
THOMSON REUTERS CORP TRI 0.03 181885 N/A 1929
KRAFT HEINZ CO/THE KHC 0.02 141515 BBG005CPNTQ2 5609
WORKDAY INC-CLASS A WDAY 0.02 124878 BBG000VC0T95 862
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 141004 BBG01BFR8YV1 2159
COPART INC CPRT 0.02 123201 BBG000BM9RH1 4489
DEXCOM INC DXCM 0.02 128726 BBG000QTF8K1 1686
MICROSTRATEGY INC-CL A MSTR 0.02 126545 BBG000GQJPZ0 1374
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 88.32 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 141.82 BBG003338H34 1
INSMED INC INSM 0.00 109.14 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 213.05 BBG020QYV152 1
Cash & Other Cash&Other -0.01 -46083.2 N/A -46083.2

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.