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 11/03/2026
TICKER RAA
NET ASSETS $603M
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 $29.71
30 DAY MEDIAN BID-ASK SPREAD 0.000664

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 10.34% NA NA 13.35%
RAA - Market Price 10.25% NA NA 13.33%
S&P 500 Index Total Return 12.11% NA NA 16.84%
1 MO 3 MO YTD Since Inception
RAA - NAV 0.07% -1.49% 2.09% 1.87% 9.88% 9.81% 13.35% 14.06%
RAA - Market Price -0.03% -1.49% 1.99% 1.86% 9.80% 9.83% 13.33% 14.11%
S&P 500 Index Total Return -0.87% -0.35% 1.48% 2.30% 11.77% 12.75% 16.84% 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 11/03/2026

NET ASSET VALUE

$29.71

CLOSING PRICE

$29.73

PREMIUM/DISCOUNT

0.07%
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 6
Discount 16 8 14 21 14

Asset Allocation

As of 11/3/2026

Equities

56.08%
Nasdaq
26.98%
US Large Cap
20.07%
Dividend Payers
3.00%
US Small Cap
2.03%
Emerging Ex. China
2.00%
Europe
1.00%
Japan
1.00%

Fixed Income

20.24%
Corporate Bonds
5.00%
High Yield
5.00%
Emerging Mkt Bonds
3.00%
TIPS
3.00%
T-Bills
2.24%
Long Term Treasuries
2.00%

Alternatives

23.64%
Managed Futures
7.96%
Commodities
5.78%
Energy
3.84%
Bitcoin
2.03%
Miners
2.00%
Gold
1.02%
Real Estate
1.01%

Holdings

As of 11/03/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 20.07 121064000 BBG00RYR67P4 2514310
iM DBi Managed Futures Strategy ETF DBMF 6.16 37161800 N/A 1153380
INVESCO OPTIMUM YIELD DIVERS PDBC 5.78 34858000 N/A 1802380
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.00 30184100 BBG000PWYVH7 381064
SCHWAB HIGH YIELD BOND ETF SCYB 5.00 30162700 BBG01F80WX71 1202180
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.00 18112000 BBG000NXKWH0 197902
SCHWAB U.S. TIPS ETF SCHP 3.00 18071300 BBG000BGN6P5 707290
NVIDIA CORP NVDA 2.23 13466300 BBG000BBJQV0 65152
APPLE INC AAPL 2.08 12544500 BBG000B9XRY4 37796
Vanguard Morningstar Small-Cap ETF VB 2.03 12265100 BBG000HT3Z79 41955
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.03 12254800 N/A 356450
ISHARES MSCI EMR MRK EX CHNA EMXC 2.02 12190400 BBG00H5VLMJ6 135826
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.01 12132800 BBG01922X0X9 243288
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.00 12054500 BBG00PZFJPC3 408212
Simplify DBi CTA Managed Futures Index ETF SDMF 1.80 10845800 BBG020BR8WR7 402100
MICROSOFT CORP MSFT 1.68 10153600 BBG000BPH459 19489
MICRON TECHNOLOGY INC MU 1.21 7319660 BBG000C5Z1S3 8560
AMAZON.COM INC AMZN 1.17 7080490 BBG000BVPV84 28244
ADVANCED MICRO DEVICES INC AMD 1.05 6362320 BBG000BBQCY0 13148
SPROTT PHYSICAL GOLD TRUS PHYS 1.02 6138400 BBG000Q83F79 206680
Franklin FTSE Japan ETF FLJP 1.01 6087300 BBG00J3MDY16 154031
Franklin FTSE Europe ETF FLEE 1.00 6058690 BBG00J3PR1S7 159062
Tesla Inc. TSLA 0.91 5463040 BBG000N9MNX3 13709
META PLATFORMS INC META 0.80 4819190 BBG000MM2P62 7760
SPACE EXPLORATION TECH CORP A SPCX 0.75 4526300 BBG000NQF3Z5 32031
Broadcom Inc. AVGO 0.72 4362860 BBG00KHY5S69 13136
ALPHABET INC-CL A GOOGL 0.72 4326460 BBG009S39JX6 15450
WAL-MART STORES INC WMT 0.70 4217270 BBG000BWXBC2 33776
ALPHABET INC-CL C GOOG 0.67 4021000 BBG009S3NB30 14450
INTEL CORP INTC 0.54 3258980 BBG000C0G1D1 53823
COSTCO WHOLESALE CORP COST 0.52 3149510 BBG000F6H8W8 3090
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.51 3050380 BBG000N7QR55 17391
CISCO SYSTEMS INC CSCO 0.50 2988090 BBG000C3J3C9 29019
CHEVRON CORP CVX 0.48 2898770 BBG000K4ND22 12868
BHP GROUP LTD BHP 0.42 2515790 BBG000BD5NZ4 32200
APPLIED MATERIALS INC AMAT 0.39 2335820 BBG000BBPFB9 6116
EQT CORP EQT 0.39 2364810 BBG000BHZ5J9 43728
SCHLUMBERGER LTD SLB 0.39 2376350 BBG000BT41Q8 45585
WILLIAMS COMPANIES INC. WMB 0.39 2378610 BBG000BWVCP8 32822
MARATHON PETROLEUM CORP MPC 0.39 2349520 BBG001DCCGR8 5498
CANADIAN NATURAL RESOURCES CNQ 0.38 2319590 BBG000HW5GX3 43276
OCCIDENTAL PETROLEUM CORP OXY 0.38 2293020 BBG000BQQ2S6 37945
Cheniere Energy Inc LNG 0.38 2295810 BBG000C3HSR0 7378
Suncor Energy Inc. SU 0.38 2314660 BBG000BC1LY5 30678
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.38 2300410 BBG023CY9MM1 12963
LAM RESH CORP LRCX 0.36 2196920 BBG000BNFLM9 9522
TEXAS INSTRUMENTS INC TXN 0.35 2099310 BBG000BVV7G1 6718
PALO ALTO NETWORKS INC PANW 0.35 2112410 BBG0014GJCT9 6032
NETFLIX INC NFLX 0.31 1857250 BBG000CL9VN6 29285
Crowdstrike Holdings Inc. Class A CRWD 0.31 1851740 BBG00BLYKS03 7568
PEPSICO INC PEP 0.29 1742090 BBG000DH7JK6 12691
AMGEN INC AMGN 0.29 1721880 BBG000BBS2Y0 3733
AUTOMATIC DATA PROCESSING ADP 0.28 1691110 BBG000JG0547 5713
LINDE PLC LIN 0.27 1619060 BBG01FND0CC1 3165
Kimberly-Clark Corp KMB 0.26 1575590 BBG000BMW2Z0 15083.2
KLA CORPORATION KLAC 0.26 1558100 BBG000BMTFR4 9975
ANALOG DEVICES INC ADI 0.26 1555740 BBG000BB6G37 3706
NEWMONT GOLDCORP CORPORATION COM NEM 0.25 1484480 BBG000BPWXK1 13813
QUALCOMM INC QCOM 0.23 1405050 BBG000CGC1X8 8545
GILEAD SCIENCES INC GILD 0.23 1412110 BBG000CKGBP2 8432
SANDISK CORP/DE SNDKV SNDK 0.23 1399140 BBG01R388JG1 1242
SHOPIFY INC - CLASS A SHOP 0.22 1342580 BBG004DW5NB8 9417
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.20 1190890 BBG00ZXBJ153 6925
INTUITIVE SURGICAL INC ISRG 0.19 1162260 BBG000BJPDZ1 2637
FREEPORT-MCMORAN INC FCX 0.19 1142930 BBG000BJDB15 18503
AGNICO EAGLE MINES LTD AEM 0.19 1118430 BBG000DLVDK3 6686
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.18 1107250 BBG0113JGQF0 1826
RIO TINTO PLC-SPON ADR RIO 0.18 1090040 BBG000FD28T3 13355
T-MOBILE US INC TMUS 0.18 1067900 BBG000NDV1D4 6916
ASML HOLDING NV-NY REG SHS ASML 0.18 1088050 BBG000K6MRN4 701
REALTY INCOME CORP O 0.17 1034250 BBG000DHPN63 17987
WESTERN DIGITAL CORP WDC 0.16 989253 BBG000BWNFZ9 2848
FRANKLIN RESOURCES INC BEN 0.16 937113 BBG000BD0TF8 28959
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.16 936355 BBG000B9ZXB4 8559
CLOROX COMPANY CLX 0.16 955916 BBG000BFS7D3 10191
AO Smith Corp AOS 0.15 913933 BBG000BC1L02 14316
HORMEL FOODS CORP HRL 0.15 902742 BBG000BLF8D2 42462
MEDTRONIC PLC MDT 0.15 926110 BBG000BNWG87 9366
STANLEY BLACK & DECKER INC SWK 0.15 921493 BBG000BTQR96 8808
ILLINOIS TOOL WORKS ITW 0.15 926707 BBG000BMBL90 3233
T ROWE PRICE GROUP INC TROW 0.15 929088 BBG000BVMPN3 8746
VERTEX PHARMACEUTICALS INC VRTX 0.15 921930 BBG000C1S2X2 1737
AMCOR PLC COMMON STOCK USD.01 AMCR 0.15 905201 N/A 19276
GENUINE PARTS CO GPC 0.14 872624 BBG000BKL348 7022
GLENCORE PLC -UNSP ADR GLNCY 0.14 825776 BBG001VKX1Z1 61396
WELLTOWER INC WELL 0.14 863389 BBG000BKY1G5 3580
BOOKING HOLDINGS INC BKNG 0.14 828164 BBG000BLBVN4 5320
STARBUCKS CORP SBUX 0.14 852828 BBG000CTQBF3 8140
Marriott International, Inc Class A MAR 0.13 756146 BBG000BGD7W6 1816
EVERSOURCE ENERGY ES 0.13 793707 BBG000BQ87N0 11498
International Business Machines Corporation IBM 0.13 767873 BBG000BLNNH6 3071
Barrick Mining Corp. B 0.13 797057 N/A 21513
NUCOR CORP NUE 0.12 735249 BBG000BQ8KV2 2688
PPG INDUSTRIES INC PPG 0.12 739322 BBG000BRJ809 6098
ARM HOLDINGS PLC ARM 0.12 728356 BBG01J1GXZF0 3597
ADOBE SYSTEMS INC ADBE 0.12 715283 BBG000BB5006 2906
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.12 722517 BBG00CMNZNK7 722517
CADENCE DESIGN SYS INC CDNS 0.11 660450 BBG000C13CD9 2040
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.11 681388 BBG000PVRDL2 5803
CONSTELLATION ENERGY CORPORATION CEG 0.11 671407 BBG014KFRNP7 2549
REGENERON PHARMACEUTICALS REGN 0.11 647284 BBG000C734W3 665
MONSTER BEVERAGE CORP MNST 0.11 665710 BBG008NVB1C0 14110
INTUIT INC INTU 0.11 672549 BBG000BH5DV1 1951
CSX CORP CSX 0.11 649723 BBG000BGJRC8 12810
SYNOPSYS INC SNPS 0.11 663307 BBG000BSFRF3 1433
FORTINET INC FTNT 0.11 688079 BBG000BCMBG4 5371
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.11 673056 N/A 26815
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 607566 BBG000BBTJZ1 2253
MERCADOLIBRE INC MELI 0.10 618324 BBG000GQPB11 372
MODERNA INC MRNA 0.10 626154 BBG003PHHZT1 2741
APPLOVIN CORP APP 0.10 583823 BBG006HFPX77 2378
PROLOGIS INC PLD 0.10 607450 BBG000B9Z0J8 4706
CINTAS CORP CTAS 0.10 610586 BBG000H3YXF8 2729
Datadog Inc. Class A DDOG 0.10 574675 BBG003NJHZT9 2606
EQUINIX INC EQIX 0.09 546762 BBG000MBDGM6 539
COMCAST CORP-CLASS A CMCSA 0.09 561855 BBG000BFT2L4 23737
FRANCO-NEVADA CORP FNV 0.09 552546 BBG000TRN6Z1 2445
ROSS STORES INC ROST 0.09 548892 BBG000BSBZH7 2370
DOORDASH INC CLASS A DASH 0.09 555643 BBG005D7QCJ3 3031
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 546552 BBG000D4LWF6 8393
ROPER TECHNOLOGIES INC ROP 0.08 489682 BBG000F1ZSN5 1034
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 474203 BBG000C30L48 357
NXP Semiconductors NV NXPI 0.08 497199 BBG000BND699 1892
AIRBNB INC ABNB 0.08 490862 BBG001Y2XS07 2940
OREILLY AUTOMOTIVE INC ORLY 0.08 488736 BBG000BGYWY6 5431
AMERICAN ELECTRIC POWER AEP 0.08 479313 BBG000BB9KF2 3691
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.08 492014 BBG022XF4SZ9 2196
LUMENTUM HOLDINGS INC LITE 0.08 506039 BBG0073F9RT7 744
PUBLIC STORAGE PSA 0.07 434741 BBG000BPPN67 1304
FASTENAL CO FAST 0.07 424135 BBG000BJ8YN7 8105
VALE SA-SP ADR VALE 0.07 410894 BBG000BN5LG7 37422
DIGITAL REALTY TRUST INC DLR 0.07 429536 BBG000Q5ZRM7 2383
SIMON PROPERTY GROUP INC SPG 0.07 432390 BBG000BJ2D31 1947
XCEL ENERGY INC XEL 0.06 356862 BBG000BCTQ65 4531
PAYPAL HOLDINGS INC PYPL 0.06 370507 BBG0077VNXV6 6365
ASTERA LABS INC ALAB 0.06 337815 BBG00TDKHW99 1446
Baker Hughes Company BKR 0.06 349417 BBG00GBVBK51 6619
EXELON CORP EXC 0.06 355719 BBG000J6XT05 7818
IDEXX LABS IDXX 0.06 362230 BBG000BLRT07 539
KEURIG DR PEPPER INC KDP 0.06 352750 BBG000TJM7F0 10154
PACCAR INC PCAR 0.06 363329 BBG000BQVTF5 3561
DIAMONDBACK ENERGY INC FANG 0.06 385642 BBG002PHSYX9 2005
AUTODESK INC ADSK 0.06 371415 BBG000BM7HL0 1472
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 368862 BBG00LBLDDR2 4601
MICROSTRATEGY INC-CL A MSTR 0.06 381798 BBG000GQJPZ0 2815
Ventas Inc. VTR 0.06 370964 BBG000FRVHB9 4262
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 354538 BBG00B6BFWH9 3178
Vivmark Residential VMRK 0.06 362252 BBG000BG8M31 5839
HONEYWELL AEROSPACE INC HONAV HONAV 0.06 372488 BBG020QYV152 2365
MICROCHIP TECHNOLOGY INC MCHP 0.05 308796 BBG000BHCP19 3964
IRON MOUNTAIN INC IRM 0.05 305844 BBG000KCZPC3 2621
TERADYNE INC TER 0.05 304635 BBG000BV4DR6 1131
FERROVIAL SA FER 0.05 311457 BBG01H0DF657 5412.88
Nebius Group NV NBIS 0.05 303887 BBG001NVJ6W4 2004
THOMSON REUTERS CORP TRI 0.05 280959 N/A 2550
PAYCHEX INC PAYX 0.05 310983 BBG000BQSQ38 2689
AXON ENTERPRISE INC AXON 0.04 236612 BBG000BHJWG1 568
Old Dominion Freight Line Inc. ODFL 0.04 248397 BBG000CHSS88 1398
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 247247 BBG000BS1YV5 1268
EXTRA SPACE STORAGE INC EXR 0.04 249187 BBG000PV27K3 1595
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 255692 BBG01BFR8YV1 3170
WORKDAY INC-CLASS A WDAY 0.04 242674 BBG000VC0T95 1226
VICI PROPERTIES INC REIT VICI 0.04 242173 BBG00HVVB499 9917
DEXCOM INC DXCM 0.04 243268 BBG000QTF8K1 2932
ROCKET LAB CORP RKLB 0.04 244282 BBG01V7JN3F3 4488
AIR PRODUCTS & CHEMICALS INC APD 0.03 180897 BBG000BC4JJ4 578
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 170603 BBG000BFGNJ5 1067
ABBVIE INC ABBV 0.03 175890 BBG0025Y4RY4 615
COREWEAVE INC CRWV 0.03 181372 BBG011ZTRJ21 3375
COPART INC CPRT 0.03 186236 BBG000BM9RH1 5996
CONSOLIDATED EDISON INC ED 0.03 181289 BBG000BHLYS1 1552
MCDONALDS CORP MCD 0.03 184128 BBG000BNSZP1 700
Cash & Other Cash&Other 0.02 144685 N/A 144685
REGENCY CENTERS CORP REG 0.02 121400 BBG000BL46Q4 1615
HOST HOTELS & RESORTS INC HST 0.02 123589 BBG000BL8804 4794
Omega Healthcare Investors Inc OHI 0.02 122010 BBG000BGBTC2 2567
ESSEX PROPERTY TRUST INC ESS 0.02 120794 BBG000CGJMB9 456
MID-AMERICA APARTMENT COMM MAA 0.02 120274 BBG000BLMY92 1025
KIMCO REALTY CORP KIM 0.02 123526 BBG000CN3S73 4943
INVITATION HOMES INC REIT USD.01 INVH 0.02 120631 BBG00FQH6BS9 4535
W. P. CAREY REIT INC WPC 0.02 121311 BBG000BCQM58 1877

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.