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 04/09/2026
TICKER RAA
NET ASSETS $552M
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 $28.40
30 DAY MEDIAN BID-ASK SPREAD 0.000726

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 10.18%
RAA 2025*
NAV 12.32%
MARKET PRICE 12.36%

*RAA Inception was 2/26/2025

Scroll for more →

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 04/09/2026

NET ASSET VALUE

$28.40

CLOSING PRICE

$28.40

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 4
Discount 5 13 16 8 2

Asset Allocation

As of 4/9/2026

Equities

47.89%
Nasdaq
21.16%
US Large Cap
17.21%
Dividend Payers
2.31%
Emerging Ex. China
2.11%
Japan
2.04%
US Small Cap
2.03%
Europe
1.03%

Fixed Income

27.83%
High Yield
6.84%
Corporate Bonds
5.83%
Emerging Mkt Bonds
3.93%
TIPS
3.89%
Long Term Treasuries
3.87%
T-Bills
3.47%

Alternatives

24.28%
Managed Futures
7.61%
Commodities
4.80%
Miners
3.11%
Gold
2.99%
Energy
2.83%
Bitcoin
2.05%
Real Estate
0.89%

Holdings

As of 04/09/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.21 94943400 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.61 41995100 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.84 37729500 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.83 32173600 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.80 26470400 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.93 21694500 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.89 21431000 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.87 21326800 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.99 16467000 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.91 16046700 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.11 11630100 BBG00H5VLMJ6 137391
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.05 11304000 N/A 354135
Franklin FTSE Japan ETF FLJP 2.04 11271900 BBG00J3MDY16 297962
VANGUARD SMALL-CAP ETF VB 2.03 11185600 BBG000HT3Z79 40976
NVIDIA CORP NVDA 1.84 10161900 BBG000BBJQV0 55255
APPLE INC AAPL 1.60 8848060 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.14 6300780 BBG000BPH459 16889
Franklin FTSE Europe ETF FLEE 1.03 5658430 BBG00J3PR1S7 148061
AMAZON.COM INC AMZN 1.02 5617180 BBG000BVPV84 24041
ALPHABET INC-CL A GOOGL 0.76 4174770 BBG009S39JX6 13108
WAL-MART STORES INC WMT 0.74 4078050 BBG000BWXBC2 31581
META PLATFORMS INC META 0.73 4021700 BBG000MM2P62 6400
Tesla Inc. TSLA 0.72 3949400 BBG000N9MNX3 11427
Broadcom Inc. AVGO 0.70 3875970 BBG00KHY5S69 10921
ALPHABET INC-CL C GOOG 0.70 3876480 BBG009S3NB30 12253
BHP GROUP LTD BHP 0.63 3487400 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.60 3335410 BBG000C5Z1S3 7913
COSTCO WHOLESALE CORP COST 0.53 2947480 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.50 2733720 BBG000CL9VN6 26788
ADVANCED MICRO DEVICES INC AMD 0.45 2497500 BBG000BBQCY0 10554
NEWMONT GOLDCORP CORPORATION COM NEM 0.41 2236080 BBG000BPWXK1 18789
CISCO SYSTEMS INC CSCO 0.40 2207660 BBG000C3J3C9 26544
LAM RESH CORP LRCX 0.38 2105790 BBG000BNFLM9 8138
APPLIED MATERIALS INC AMAT 0.37 2059460 BBG000BBPFB9 5177
RIO TINTO PLC-SPON ADR RIO 0.37 2015640 BBG000FD28T3 20752
INTEL CORP INTC 0.36 1985720 BBG000C0G1D1 32173
CHEVRON CORP CVX 0.34 1878470 BBG000K4ND22 9868
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 1888190 BBG000N7QR55 14470
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.31 1698280 BBG00CMNZNK7 1698280
SCHLUMBERGER LTD SLB 0.30 1641820 BBG000BT41Q8 31249
AGNICO EAGLE MINES LTD AEM 0.30 1657930 BBG000DLVDK3 7660
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.29 1581010 BBG000BRK7L6 24941
WILLIAMS COMPANIES INC. WMB 0.29 1626870 BBG000BWVCP8 22341
CANADIAN NATURAL RESOURCES CNQ 0.28 1536300 BBG000HW5GX3 33617
EQT CORP EQT 0.28 1517020 BBG000BHZ5J9 25509
Cheniere Energy Inc LNG 0.28 1526050 BBG000C3HSR0 5742
FREEPORT-MCMORAN INC FCX 0.28 1522770 BBG000BJDB15 22916
OCCIDENTAL PETROLEUM CORP OXY 0.27 1487010 BBG000BQQ2S6 25406
LINDE PLC LIN 0.27 1510910 BBG01FND0CC1 3002
KLA CORPORATION KLAC 0.27 1471630 BBG000BMTFR4 852
MARATHON PETROLEUM CORP MPC 0.27 1487080 BBG001DCCGR8 6653
EXXON MOBIL CORP XOM 0.27 1493810 BBG000GZQ728 9635
T-MOBILE US INC TMUS 0.26 1421890 BBG000NDV1D4 7198
PEPSICO INC PEP 0.25 1391900 BBG000DH7JK6 8838
GLENCORE PLC -UNSP ADR GLNCY 0.24 1337630 BBG001VKX1Z1 88702
TEXAS INSTRUMENTS INC TXN 0.23 1255050 BBG000BVV7G1 5838
AMGEN INC AMGN 0.22 1238550 BBG000BBS2Y0 3483
Barrick Mining Corp. B 0.21 1173270 N/A 27652
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1093170 BBG000PVRDL2 7759
GILEAD SCIENCES INC GILD 0.20 1120520 BBG000CKGBP2 7886
ANALOG DEVICES INC ADI 0.20 1089920 BBG000BB6G37 3102
INTUITIVE SURGICAL INC ISRG 0.19 1029530 BBG000BJPDZ1 2263
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1066880 BBG020BR8WR7 42454
AUTOMATIC DATA PROCESSING ADP 0.18 1018520 BBG000JG0547 5196
HONEYWELL INTERNATIONAL INC HON 0.17 965013 BBG000H556T9 4088
FRANCO-NEVADA CORP FNV 0.17 956645 BBG000RD3CL8 3677
QUALCOMM INC QCOM 0.16 885818 BBG000CGC1X8 6934
BOOKING HOLDINGS INC BKNG 0.16 883000 BBG000BLBVN4 5000
SHOPIFY INC - CLASS A SHOP 0.15 852290 BBG008HBD923 7584
REALTY INCOME CORP O 0.15 818187 BBG000DHPN63 12946
PALO ALTO NETWORKS INC PANW 0.15 817082 BBG0014GJCT9 4893
VALE SA-SP ADR VALE 0.15 839843 BBG000BN5LG7 50441
ASML HOLDING NV-NY REG SHS ASML 0.15 819930 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 803964 N/A 34864
WESTERN DIGITAL CORP WDC 0.14 762933 BBG000BWNFZ9 2258
CONSTELLATION ENERGY CORPORATION CEG 0.13 715758 BBG014KFRNP7 2554
VERTEX PHARMACEUTICALS INC VRTX 0.13 719763 BBG000C1S2X2 1611
WELLTOWER INC WELL 0.13 723428 BBG000BKY1G5 3506
STARBUCKS CORP SBUX 0.13 693269 BBG000CTQBF3 7153
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 701579 BBG0113JGQF0 1401
APPLOVIN CORP APP 0.13 730982 BBG006HFPX77 1928
COMCAST CORP-CLASS A CMCSA 0.12 652093 BBG000BFT2L4 23034
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 655569 BBG00ZXBJ153 5469
PROLOGIS INC PLD 0.12 667465 BBG000B9Z0J8 4836
Marriott International, Inc Class A MAR 0.11 590452 BBG000BGD7W6 1673
ADOBE SYSTEMS INC ADBE 0.11 594165 BBG000BB5006 2584
INTUIT INC INTU 0.11 628617 BBG000BH5DV1 1738
Crowdstrike Holdings Inc. Class A CRWD 0.11 609781 BBG00BLYKS03 1545
AO Smith Corp AOS 0.10 528675 BBG000BC1L02 7859
KENVUE INC KVUE 0.10 543990 BBG01C79X561 31210
Kimberly-Clark Corp KMB 0.10 547400 BBG000BMW2Z0 5588
MEDTRONIC PLC MDT 0.10 543372 BBG000BNWG87 6181
CLOROX COMPANY CLX 0.10 560377 BBG000BFS7D3 5207
FRANKLIN RESOURCES INC BEN 0.10 568909 BBG000BD0TF8 22720
EVERSOURCE ENERGY ES 0.10 549176 BBG000BQ87N0 7782
STANLEY BLACK & DECKER INC SWK 0.10 556893 BBG000BTQR96 7584
ILLINOIS TOOL WORKS ITW 0.10 564390 BBG000BMBL90 2066
T ROWE PRICE GROUP INC TROW 0.10 543468 BBG000BVMPN3 5897
MERCADOLIBRE INC MELI 0.10 550514 BBG000GQPB11 307
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 573607 N/A 13735.8
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 499192 BBG000D4LWF6 8448
GENUINE PARTS CO GPC 0.09 488194 BBG000BKL348 4497
HORMEL FOODS CORP HRL 0.09 498774 BBG000BLF8D2 23605
CADENCE DESIGN SYS INC CDNS 0.09 500760 BBG000C13CD9 1782
EQUINIX INC EQIX 0.09 504438 BBG000MBDGM6 489
PPG INDUSTRIES INC PPG 0.09 487068 BBG000BRJ809 4440
REGENERON PHARMACEUTICALS REGN 0.09 491424 BBG000C734W3 640
MONSTER BEVERAGE CORP MNST 0.09 490435 BBG008NVB1C0 6437
CSX CORP CSX 0.09 504866 BBG000BGJRC8 11882
SYNOPSYS INC SNPS 0.09 481449 BBG000BSFRF3 1189
OREILLY AUTOMOTIVE INC ORLY 0.09 506739 BBG000BGYWY6 5368
AMERICAN ELECTRIC POWER AEP 0.09 484140 BBG000BB9KF2 3530
PACCAR INC PCAR 0.08 422441 BBG000BQVTF5 3325
Warner Bros Discovery Inc WBD 0.08 441499 BBG011386VF4 16037
Baker Hughes Company BKR 0.08 423582 BBG00GBVBK51 6679
ROSS STORES INC ROST 0.08 466913 BBG000BSBZH7 2076
ABBVIE INC ABBV 0.08 435632 BBG0025Y4RY4 2051
CINTAS CORP CTAS 0.08 441296 BBG000H3YXF8 2534
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 430641 BBG00LBLDDR2 4282
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 413605 BBG000C30L48 310
J M Smucker Co COM STK NPV SJM 0.07 398546 BBG000BT1715 4310
DOORDASH INC CLASS A DASH 0.07 397812 BBG005D7QCJ3 2574
FORTINET INC FTNT 0.07 377166 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 387777 BBG000Q5ZRM7 2061
International Business Machines Corporation IBM 0.07 392770 BBG000BLNNH6 1656
SIMON PROPERTY GROUP INC SPG 0.07 398935 BBG000BJ2D31 2005
XCEL ENERGY INC XEL 0.06 330252 BBG000BCTQ65 3990
PUBLIC STORAGE PSA 0.06 348698 BBG000BPPN67 1189
FASTENAL CO FAST 0.06 357448 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 331050 BBG000J6XT05 6696
AIRBNB INC ABNB 0.06 343695 BBG001Y2XS07 2661
NXP Semiconductors NV NXPI 0.06 330717 BBG000BND699 1608
FERROVIAL SE FER 0.06 322759 BBG01H7CZ9S9 4516
DIAMONDBACK ENERGY INC FANG 0.06 355107 BBG002PHSYX9 1906
ELECTRONIC ARTS INC EA 0.06 324127 BBG000BP0KQ8 1603
Ventas Inc. VTR 0.05 277107 BBG000FRVHB9 3262
PAYPAL HOLDINGS INC PYPL 0.05 261534 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 280520 BBG000CHSS88 1339
IDEXX LABS IDXX 0.05 302900 BBG000BLRT07 518
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 260558 BBG000BFGNJ5 811
AUTODESK INC ADSK 0.05 295145 BBG000BM7HL0 1311
MICROSTRATEGY INC-CL A MSTR 0.05 268415 BBG000GQJPZ0 2083
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 290989 BBG00B6BFWH9 2972
INSMED INC INSM 0.04 196774 BBG000BWM5P3 1233
PAYCHEX INC PAYX 0.04 201902 BBG000BQSQ38 2298
ROPER TECHNOLOGIES INC ROP 0.04 233020 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 238302 BBG000BHCP19 3346
CINCINNATI FINANCIAL CORP CINF 0.04 229858 BBG000BFPK65 1402
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 223995 BBG000BS1YV5 1131
KEURIG DR PEPPER INC KDP 0.04 238705 BBG000TJM7F0 9035
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 243153 N/A 2865
VICI PROPERTIES INC REIT VICI 0.04 218868 BBG00HVVB499 7800
EXTRA SPACE STORAGE INC EXR 0.04 228444 BBG000PV27K3 1641
COPART INC CPRT 0.04 200711 BBG000BM9RH1 6084
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 208158 BBG01BFR8YV1 2855
AVALONBAY COMMUNITIES INC AVB 0.04 222433 BBG000BLPBL5 1320
Datadog Inc. Class A DDOG 0.04 225807 BBG003NJHZT9 2072
KRAFT HEINZ CO/THE KHC 0.03 175083 BBG005CPNTQ2 7524
AXON ENTERPRISE INC AXON 0.03 184097 BBG000BHJWG1 524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 183994 BBG000BBDV81 3108
IRON MOUNTAIN INC IRM 0.03 171078 BBG000KCZPC3 1574
EQUITY RESIDENTIAL EQR 0.03 163605 BBG000BG8M31 2706
VERISK ANALYTICS INC VRSK 0.03 150097 BBG000BCZL41 886
CHARTER COMMUNICATIONS INC-A CHTR 0.03 183495 BBG000VPGNR2 822
WORKDAY INC-CLASS A WDAY 0.03 145395 BBG000VC0T95 1286
DEXCOM INC DXCM 0.03 162427 BBG000QTF8K1 2473
CONSOLIDATED EDISON INC ED 0.03 146829 BBG000BHLYS1 1277
Sun Communities Inc SUI 0.02 109121 BBG000BLJWF3 848
AIR PRODUCTS & CHEMICALS INC APD 0.02 109866 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 102779 BBG000D7JKW9 2754
ESSEX PROPERTY TRUST INC ESS 0.02 109763 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 110414 BBG000BGBTC2 2415
Zscaler Inc. ZS 0.02 116730 BBG003338H34 955
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 107445 BBG000B9ZXB4 1046
MID-AMERICA APARTMENT COMM MAA 0.02 109415 BBG000BLMY92 871
KIMCO REALTY CORP KIM 0.02 109398 BBG000CN3S73 4742
INVITATION HOMES INC REIT USD.01 INVH 0.02 111514 BBG00FQH6BS9 4289
MCDONALDS CORP MCD 0.02 106176 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 112129 BBG000BCQM58 1570
Cash & Other Cash&Other 0.01 59981.9 N/A 59981.9
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 57721.8 BBG01BGWHFR5 979
ASTRAZENECA PLC AZNCF 0.00 614.97 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.