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 06/15/2026
TICKER RAA
NET ASSETS $602M
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 $30.19
30 DAY MEDIAN BID-ASK SPREAD 0.000669

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 3.18% -3.97% 5.74% 0.68% 10.86% 0.68% 19.02% 11.92%
RAA - Market Price 3.12% -3.98% 5.76% 0.63% 10.84% 0.63% 19.02% 11.89%
S&P 500 Index Total Return 5.26% -4.98% 10.52% -4.33% 11.27% -4.33% 22.66% 10.18%
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 06/15/2026

NET ASSET VALUE

$30.19

CLOSING PRICE

$30.19

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 34
Discount 5 13 16 8 11

Asset Allocation

As of 6/15/2026

Equities

42.47%
Nasdaq
17.11%
US Large Cap
15.06%
Dividend Payers
3.16%
Emerging Ex. China
2.05%
US Small Cap
2.05%
Japan
2.03%
Europe
1.01%

Fixed Income

19.42%
High Yield
6.02%
Emerging Mkt Bonds
4.04%
Corporate Bonds
4.01%
TIPS
2.99%
T-Bills
1.36%
Long Term Treasuries
1.00%

Alternatives

38.11%
Managed Futures
10.05%
Commodities
9.67%
Energy
4.93%
Gold
4.75%
Miners
3.97%
Bitcoin
2.68%
Real Estate
2.06%

Holdings

As of 06/15/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.06 90689300 BBG00RYR67P4 626870
INVESCO OPTIMUM YIELD DIVERS PDBC 9.67 58230200 N/A 3447610
iM DBi Managed Futures Strategy ETF DBMF 9.04 54434700 N/A 1762780
SCHWAB HIGH YIELD BOND ETF SCYB 6.02 36266000 BBG01F80WX71 1383670
SPROTT PHYSICAL GOLD TRUS PHYS 4.75 28585200 BBG000Q83F79 877925
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.04 24323500 BBG000NXKWH0 251510
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.01 24136600 BBG000PWYVH7 292565
SCHWAB U.S. TIPS ETF SCHP 2.99 18025500 BBG000BGN6P5 678415
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.68 16155300 N/A 548940
ISHARES MSCI EMR MRK EX CHNA EMXC 2.05 12339600 BBG00H5VLMJ6 119848
VANGUARD SMALL-CAP ETF VB 2.05 12316000 BBG000HT3Z79 41268
Franklin FTSE Japan ETF FLJP 2.03 12237000 BBG00J3MDY16 304175
NVIDIA CORP NVDA 1.40 8417480 BBG000BBJQV0 39621
APPLE INC AAPL 1.19 7194410 BBG000B9XRY4 24271
Franklin FTSE Europe ETF FLEE 1.01 6086960 BBG00J3PR1S7 154291
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 6073580 BBG01922X0X9 121642
Simplify DBi CTA Managed Futures Index ETF SDMF 1.01 6055710 BBG020BR8WR7 235640
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.00 6049700 BBG00PZFJPC3 194712
MICRON TECHNOLOGY INC MU 0.88 5298510 BBG000C5Z1S3 4870
BHP GROUP LTD BHP 0.82 4922600 BBG000BD5NZ4 53431
MICROSOFT CORP MSFT 0.76 4555260 BBG000BPH459 11395
AMAZON.COM INC AMZN 0.72 4364400 BBG000BVPV84 17740
ADVANCED MICRO DEVICES INC AMD 0.68 4094600 BBG000BBQCY0 7482
ALPHABET INC-CL A GOOGL 0.60 3595250 BBG009S39JX6 9734
CHEVRON CORP CVX 0.59 3530790 BBG000K4ND22 19572
Tesla Inc. TSLA 0.56 3401440 BBG000N9MNX3 8273
ALPHABET INC-CL C GOOG 0.55 3335190 BBG009S3NB30 9085
Cheniere Energy Inc LNG 0.52 3152820 BBG000C3HSR0 13402
MARATHON PETROLEUM CORP MPC 0.51 3046440 BBG001DCCGR8 12144
WILLIAMS COMPANIES INC. WMB 0.50 3025890 BBG000BWVCP8 42326
INTEL CORP INTC 0.49 2963410 BBG000C0G1D1 23177
CANADIAN NATURAL RESOURCES CNQ 0.49 2967370 BBG000HW5GX3 67425
OCCIDENTAL PETROLEUM CORP OXY 0.49 2922810 BBG000BQQ2S6 53669
SCHLUMBERGER LTD SLB 0.49 2963830 BBG000BT41Q8 55182
EXXON MOBIL CORP XOM 0.49 2938750 BBG000GZQ728 20854
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.48 2913430 BBG000BRK7L6 48842
META PLATFORMS INC META 0.48 2911610 BBG000MM2P62 4906
Broadcom Inc. AVGO 0.48 2867100 BBG00KHY5S69 7278
EQT CORP EQT 0.46 2793080 BBG000BHZ5J9 55036
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2793440 BBG000BPWXK1 26403
WAL-MART STORES INC WMT 0.46 2773060 BBG000BWXBC2 22952
RIO TINTO PLC-SPON ADR RIO 0.45 2702740 BBG000FD28T3 25524
LAM RESH CORP LRCX 0.37 2198180 BBG000BNFLM9 5652
FREEPORT-MCMORAN INC FCX 0.36 2138540 BBG000BJDB15 30494
CISCO SYSTEMS INC CSCO 0.35 2127250 BBG000C3J3C9 17702
APPLIED MATERIALS INC AMAT 0.34 2028560 BBG000BBPFB9 3463
COSTCO WHOLESALE CORP COST 0.34 2071540 BBG000F6H8W8 2115
AGNICO EAGLE MINES LTD AEM 0.34 2034280 BBG000DLVDK3 11841
GLENCORE PLC -UNSP ADR GLNCY 0.31 1856730 BBG001VKX1Z1 119481
REALTY INCOME CORP O 0.26 1593890 BBG000DHPN63 25650
NETFLIX INC NFLX 0.26 1576070 BBG000CL9VN6 19298
WELLTOWER INC WELL 0.26 1556780 BBG000BKY1G5 7315
Barrick Mining Corp. B 0.26 1553820 N/A 37146
PROLOGIS INC PLD 0.25 1496560 BBG000B9Z0J8 10151
Cash & Other Cash&Other 0.24 1422420 N/A 1422420
KLA CORPORATION KLAC 0.24 1440820 BBG000BMTFR4 5619
SANDISK CORP/DE SNDKV SNDK 0.23 1378540 BBG01R388JG1 654
TEXAS INSTRUMENTS INC TXN 0.22 1313830 BBG000BVV7G1 4193
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1353310 N/A 49355
AUTOMATIC DATA PROCESSING ADP 0.22 1318560 BBG000JG0547 5907
NUCOR CORP NUE 0.21 1263670 BBG000BQ8KV2 4873
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1233080 BBG000PVRDL2 9949
EQUINIX INC EQIX 0.20 1210200 BBG000MBDGM6 1137
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1230440 BBG000N7QR55 9134
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1152430 BBG00ZXBJ153 3731
LINDE PLC LIN 0.18 1102410 BBG01FND0CC1 2114
WESTERN DIGITAL CORP WDC 0.17 994673 BBG000BWNFZ9 1522
QUALCOMM INC QCOM 0.17 1027650 BBG000CGC1X8 4654
FRANCO-NEVADA CORP FNV 0.17 994572 BBG000RD3CL8 4473
VALE SA-SP ADR VALE 0.17 1008080 BBG000BN5LG7 63005
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1000460 BBG0113JGQF0 982
KENVUE INC KVUE 0.16 950788 BBG01C79X561 52098
Kimberly-Clark Corp KMB 0.16 946825 BBG000BMW2Z0 9180
HORMEL FOODS CORP HRL 0.16 952057 BBG000BLF8D2 38733
MEDTRONIC PLC MDT 0.16 979591 BBG000BNWG87 12187
CLOROX COMPANY CLX 0.16 947802 BBG000BFS7D3 9875
PALO ALTO NETWORKS INC PANW 0.16 991906 BBG0014GJCT9 3486
FRANKLIN RESOURCES INC BEN 0.16 946431 BBG000BD0TF8 29112
STANLEY BLACK & DECKER INC SWK 0.16 965194 BBG000BTQR96 11382
ILLINOIS TOOL WORKS ITW 0.16 961312 BBG000BMBL90 3662
T ROWE PRICE GROUP INC TROW 0.16 940237 BBG000BVMPN3 8657
T-MOBILE US INC TMUS 0.16 956198 BBG000NDV1D4 5063
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 958685 N/A 23320
ANALOG DEVICES INC ADI 0.16 963338 BBG000BB6G37 2253
PEPSICO INC PEP 0.15 920351 BBG000DH7JK6 6293
EVERSOURCE ENERGY ES 0.15 881472 BBG000BQ87N0 12727
SIMON PROPERTY GROUP INC SPG 0.15 890676 BBG000BJ2D31 4130
GENUINE PARTS CO GPC 0.14 821738 BBG000BKL348 7853
AO Smith Corp AOS 0.14 815072 BBG000BC1L02 13580
PPG INDUSTRIES INC PPG 0.14 818869 BBG000BRJ809 6738
AMGEN INC AMGN 0.14 863355 BBG000BBS2Y0 2463
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 851502 BBG00CMNZNK7 851502
PUBLIC STORAGE PSA 0.13 759118 BBG000BPPN67 2365
DIGITAL REALTY TRUST INC DLR 0.13 767520 BBG000Q5ZRM7 4151
ABBVIE INC ABBV 0.13 781105 BBG0025Y4RY4 3525
GILEAD SCIENCES INC GILD 0.12 706273 BBG000CKGBP2 5682
J M Smucker Co COM STK NPV SJM 0.12 741784 BBG000BT1715 6398
International Business Machines Corporation IBM 0.12 731697 BBG000BLNNH6 2723
Crowdstrike Holdings Inc. Class A CRWD 0.12 733099 BBG00BLYKS03 1058
APPLOVIN CORP APP 0.12 714620 BBG006HFPX77 1372
ASML HOLDING NV-NY REG SHS ASML 0.12 741923 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 661337 BBG000FRVHB9 7924
HONEYWELL INTERNATIONAL INC HON 0.11 648573 BBG000H556T9 2852
INTUITIVE SURGICAL INC ISRG 0.11 670646 BBG000BJPDZ1 1610
SHOPIFY INC - CLASS A SHOP 0.10 600247 BBG008HBD923 5336
IRON MOUNTAIN INC IRM 0.10 605639 BBG000KCZPC3 4796
BOOKING HOLDINGS INC BKNG 0.10 626783 BBG000BLBVN4 3589
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 526270 BBG000BBTJZ1 2349
VERTEX PHARMACEUTICALS INC VRTX 0.09 517128 BBG000C1S2X2 1148
STARBUCKS CORP SBUX 0.09 542592 BBG000CTQBF3 5341
CADENCE DESIGN SYS INC CDNS 0.08 483657 BBG000C13CD9 1226
Marriott International, Inc Class A MAR 0.08 487166 BBG000BGD7W6 1216
EXTRA SPACE STORAGE INC EXR 0.08 490838 BBG000PV27K3 3347
FORTINET INC FTNT 0.08 474780 BBG000BCMBG4 3176
VICI PROPERTIES INC REIT VICI 0.08 483415 BBG00HVVB499 17271
FASTENAL CO FAST 0.07 432741 BBG000BJ8YN7 9387
COMCAST CORP-CLASS A CMCSA 0.07 398094 BBG000BFT2L4 16608
EQUITY RESIDENTIAL EQR 0.07 430435 BBG000BG8M31 6504
CONSTELLATION ENERGY CORPORATION CEG 0.07 432090 BBG014KFRNP7 1647
MONSTER BEVERAGE CORP MNST 0.07 416365 BBG008NVB1C0 4466
CSX CORP CSX 0.07 413952 BBG000BGJRC8 8735
SYNOPSYS INC SNPS 0.07 403035 BBG000BSFRF3 887
AVALONBAY COMMUNITIES INC AVB 0.07 427625 BBG000BLPBL5 2318
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 357130 BBG000D4LWF6 5807
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 370113 BBG000C30L48 224
ADOBE SYSTEMS INC ADBE 0.06 358241 BBG000BB5006 1736
NXP Semiconductors NV NXPI 0.06 369264 BBG000BND699 1169
ROSS STORES INC ROST 0.06 333846 BBG000BSBZH7 1410
MERCADOLIBRE INC MELI 0.06 380309 BBG000GQPB11 231
INTUIT INC INTU 0.06 337560 BBG000BH5DV1 1198
OREILLY AUTOMOTIVE INC ORLY 0.06 350028 BBG000BGYWY6 3878
PACCAR INC PCAR 0.05 290139 BBG000BQVTF5 2404
Warner Bros Discovery Inc WBD 0.05 306962 BBG011386VF4 11441
ESSEX PROPERTY TRUST INC ESS 0.05 310092 BBG000CGJMB9 1102
Baker Hughes Company BKR 0.05 280508 BBG00GBVBK51 4491
REGENERON PHARMACEUTICALS REGN 0.05 288426 BBG000C734W3 469
DOORDASH INC CLASS A DASH 0.05 301553 BBG005D7QCJ3 1794
INVITATION HOMES INC REIT USD.01 INVH 0.05 299430 BBG00FQH6BS9 10265
CINTAS CORP CTAS 0.05 325191 BBG000H3YXF8 1861
Datadog Inc. Class A DDOG 0.05 326792 BBG003NJHZT9 1402
LUMENTUM HOLDINGS INC LITE 0.05 317804 BBG0073F9RT7 332
AMERICAN ELECTRIC POWER AEP 0.05 327284 BBG000BB9KF2 2531
XCEL ENERGY INC XEL 0.04 224878 BBG000BCTQ65 2834
Sun Communities Inc SUI 0.04 246083 BBG000BLJWF3 1978
MICROCHIP TECHNOLOGY INC MCHP 0.04 248192 BBG000BHCP19 2474
HOST HOTELS & RESORTS INC HST 0.04 260009 BBG000BL8804 10480
Old Dominion Freight Line Inc. ODFL 0.04 220326 BBG000CHSS88 928
ARM HOLDINGS PLC ARM 0.04 254956 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 221895 BBG000J6XT05 4805
AIRBNB INC ABNB 0.04 262356 BBG001Y2XS07 1888
MID-AMERICA APARTMENT COMM MAA 0.04 255846 BBG000BLMY92 1863
KIMCO REALTY CORP KIM 0.04 254742 BBG000CN3S73 10049
FERROVIAL SE FER 0.04 224644 BBG01H7CZ9S9 3279
DIAMONDBACK ENERGY INC FANG 0.04 245618 BBG002PHSYX9 1293
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 243465 BBG00LBLDDR2 2914
W. P. CAREY REIT INC WPC 0.04 246183 BBG000BCQM58 3262
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 211147 BBG00B6BFWH9 2124
ELECTRONIC ARTS INC EA 0.04 225869 BBG000BP0KQ8 1112
PAYCHEX INC PAYX 0.03 157505 BBG000BQSQ38 1561
PAYPAL HOLDINGS INC PYPL 0.03 178288 BBG0077VNXV6 4196
ROPER TECHNOLOGIES INC ROP 0.03 154257 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 160885 BBG000BHJWG1 363
IDEXX LABS IDXX 0.03 206910 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 183641 BBG000BC4JJ4 649
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 180552 BBG000BS1YV5 835
KEURIG DR PEPPER INC KDP 0.03 199516 BBG000TJM7F0 6280
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 187892 BBG000B9ZXB4 2119
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 178724 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 193635 BBG000BM7HL0 975
MCDONALDS CORP MCD 0.03 184834 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 184955 BBG000BHLYS1 1717
MICROSTRATEGY INC-CL A MSTR 0.03 177957 BBG000GQJPZ0 1357
THOMSON REUTERS CORP TRI 0.03 152491 N/A 1895
KRAFT HEINZ CO/THE KHC 0.02 132113 BBG005CPNTQ2 5507
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 106011 BBG000BBDV81 2086
VERISK ANALYTICS INC VRSK 0.02 118382 BBG000BCZL41 656
Zscaler Inc. ZS 0.02 118552 BBG003338H34 909
WORKDAY INC-CLASS A WDAY 0.02 109512 BBG000VC0T95 845
COPART INC CPRT 0.02 133441 BBG000BM9RH1 4404
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 137615 BBG01BFR8YV1 2125
DEXCOM INC DXCM 0.02 122611 BBG000QTF8K1 1652
INSMED INC INSM 0.02 93561.6 BBG000BWM5P3 960
CHARTER COMMUNICATIONS INC-A CHTR 0.01 85507.5 BBG000VPGNR2 595
EURO EUR 0.00 1984.63 N/A 1713.03

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.