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 10/30/2026
TICKER RAA
NET ASSETS $607M
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 $29.91
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 12.63% NA NA 14.06%
RAA - Market Price 12.67% NA NA 14.11%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.49% -1.49% 1.87% 1.87% 9.81% 9.81% 14.06% 14.06%
RAA - Market Price -1.49% -1.49% 1.86% 1.86% 9.83% 9.83% 14.11% 14.11%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 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 10/30/2026

NET ASSET VALUE

$29.91

CLOSING PRICE

$29.90

PREMIUM/DISCOUNT

0.02%
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 4
Discount 16 8 14 21 14

Asset Allocation

As of 10/30/2026

Equities

56.04%
Nasdaq
27.06%
US Large Cap
20.00%
Dividend Payers
2.98%
Emerging Ex. China
2.00%
US Small Cap
2.00%
Europe
1.00%
Japan
1.00%

Fixed Income

20.08%
Corporate Bonds
4.98%
High Yield
4.96%
TIPS
3.00%
Emerging Mkt Bonds
2.99%
T-Bills
2.16%
Long Term Treasuries
1.99%

Alternatives

23.88%
Managed Futures
7.96%
Commodities
5.94%
Energy
4.00%
Bitcoin
1.99%
Miners
1.98%
Real Estate
1.01%
Gold
1.00%

Holdings

As of 10/30/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 20.00 121416000 BBG00RYR67P4 2514310
iM DBi Managed Futures Strategy ETF DBMF 6.16 37427100 N/A 1153380
INVESCO OPTIMUM YIELD DIVERS PDBC 5.94 36083600 N/A 1802380
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.98 30233600 BBG000PWYVH7 381064
SCHWAB HIGH YIELD BOND ETF SCYB 4.96 30135700 BBG01F80WX71 1202180
SCHWAB U.S. TIPS ETF SCHP 2.99 18166000 BBG000BGN6P5 707290
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 2.99 18129100 BBG000NXKWH0 197902
NVIDIA CORP NVDA 2.20 13332700 BBG000BBJQV0 65152
APPLE INC AAPL 2.15 13025600 BBG000B9XRY4 37796
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 12183600 BBG00H5VLMJ6 135826
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 12130300 BBG01922X0X9 243288
Vanguard Morningstar Small-Cap ETF VB 2.00 12169000 BBG000HT3Z79 41955
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.99 12090800 N/A 356450
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.99 12110500 BBG00PZFJPC3 408212
Simplify DBi CTA Managed Futures Index ETF SDMF 1.80 10941100 BBG020BR8WR7 402100
MICROSOFT CORP MSFT 1.68 10171500 BBG000BPH459 19489
MICRON TECHNOLOGY INC MU 1.25 7573370 BBG000C5Z1S3 8560
AMAZON.COM INC AMZN 1.12 6788450 BBG000BVPV84 28244
ADVANCED MICRO DEVICES INC AMD 1.09 6637110 BBG000BBQCY0 13148
SPROTT PHYSICAL GOLD TRUS PHYS 1.00 6066060 BBG000Q83F79 206680
Franklin FTSE Japan ETF FLJP 1.00 6098090 BBG00J3MDY16 154031
Franklin FTSE Europe ETF FLEE 1.00 6057080 BBG00J3PR1S7 159062
Tesla Inc. TSLA 0.90 5481000 BBG000N9MNX3 13709
META PLATFORMS INC META 0.79 4772320 BBG000MM2P62 7760
SPACE EXPLORATION TECH CORP A SPCX 0.71 4315220 BBG000NQF3Z5 32031
Broadcom Inc. AVGO 0.71 4283390 BBG00KHY5S69 13136
ALPHABET INC-CL A GOOGL 0.71 4323530 BBG009S39JX6 15450
WAL-MART STORES INC WMT 0.69 4171670 BBG000BWXBC2 33776
ALPHABET INC-CL C GOOG 0.66 4020280 BBG009S3NB30 14450
INTEL CORP INTC 0.58 3539400 BBG000C0G1D1 53823
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.53 3201860 BBG000N7QR55 17391
COSTCO WHOLESALE CORP COST 0.52 3127950 BBG000F6H8W8 3090
CISCO SYSTEMS INC CSCO 0.50 3032780 BBG000C3J3C9 29019
CHEVRON CORP CVX 0.50 3030670 BBG000K4ND22 12868
BHP GROUP LTD BHP 0.42 2548950 BBG000BD5NZ4 32200
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.40 2427320 BBG023CY9MM1 12963
SCHLUMBERGER LTD SLB 0.40 2449740 BBG000BT41Q8 45585
Cheniere Energy Inc LNG 0.40 2437100 BBG000C3HSR0 7378
WILLIAMS COMPANIES INC. WMB 0.40 2440320 BBG000BWVCP8 32822
Suncor Energy Inc. SU 0.40 2436450 BBG000BC1LY5 30678
CANADIAN NATURAL RESOURCES CNQ 0.40 2428220 BBG000HW5GX3 43276
EQT CORP EQT 0.40 2421660 BBG000BHZ5J9 43728
OCCIDENTAL PETROLEUM CORP OXY 0.40 2428480 BBG000BQQ2S6 37945
MARATHON PETROLEUM CORP MPC 0.40 2445130 BBG001DCCGR8 5498
APPLIED MATERIALS INC AMAT 0.39 2385790 BBG000BBPFB9 6116
LAM RESH CORP LRCX 0.37 2276810 BBG000BNFLM9 9522
PALO ALTO NETWORKS INC PANW 0.36 2206930 BBG0014GJCT9 6032
TEXAS INSTRUMENTS INC TXN 0.33 2021040 BBG000BVV7G1 6718
Crowdstrike Holdings Inc. Class A CRWD 0.31 1895250 BBG00BLYKS03 7568
NETFLIX INC NFLX 0.30 1818010 BBG000CL9VN6 29285
AMGEN INC AMGN 0.29 1739620 BBG000BBS2Y0 3733
PEPSICO INC PEP 0.29 1742980 BBG000DH7JK6 12691
AUTOMATIC DATA PROCESSING ADP 0.28 1678710 BBG000JG0547 5713
Kimberly-Clark Corp KMB 0.27 1628060 BBG000BMW2Z0 15083
LINDE PLC LIN 0.27 1627570 BBG01FND0CC1 3165
KLA CORPORATION KLAC 0.26 1575150 BBG000BMTFR4 9975
ANALOG DEVICES INC ADI 0.25 1545810 BBG000BB6G37 3706
SANDISK CORP/DE SNDKV SNDK 0.24 1429410 BBG01R388JG1 1242
NEWMONT GOLDCORP CORPORATION COM NEM 0.24 1472600 BBG000BPWXK1 13813
GILEAD SCIENCES INC GILD 0.24 1439170 BBG000CKGBP2 8432
SHOPIFY INC - CLASS A SHOP 0.24 1483080 BBG004DW5NB8 9417
QUALCOMM INC QCOM 0.23 1408130 BBG000CGC1X8 8545
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.22 1360070 BBG00ZXBJ153 6925
FREEPORT-MCMORAN INC FCX 0.19 1155880 BBG000BJDB15 18503
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.19 1177000 BBG0113JGQF0 1826
INTUITIVE SURGICAL INC ISRG 0.19 1139210 BBG000BJPDZ1 2637
AGNICO EAGLE MINES LTD AEM 0.18 1105730 BBG000DLVDK3 6686
T-MOBILE US INC TMUS 0.18 1081940 BBG000NDV1D4 6916
RIO TINTO PLC-SPON ADR RIO 0.18 1093640 BBG000FD28T3 13355
ASML HOLDING NV-NY REG SHS ASML 0.18 1097700 BBG000K6MRN4 701
WESTERN DIGITAL CORP WDC 0.17 1042680 BBG000BWNFZ9 2848
REALTY INCOME CORP O 0.17 1024000 BBG000DHPN63 17987
VERTEX PHARMACEUTICALS INC VRTX 0.16 970775 BBG000C1S2X2 1737
AMCOR PLC COMMON STOCK USD.01 AMCR 0.15 913490 N/A 19276
MEDTRONIC PLC MDT 0.15 904194 BBG000BNWG87 9366
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.15 908966 BBG000B9ZXB4 8559
FRANKLIN RESOURCES INC BEN 0.15 916263 BBG000BD0TF8 28959
T ROWE PRICE GROUP INC TROW 0.15 908709 BBG000BVMPN3 8746
ILLINOIS TOOL WORKS ITW 0.15 900552 BBG000BMBL90 3233
STANLEY BLACK & DECKER INC SWK 0.15 911100 BBG000BTQR96 8808
AO Smith Corp AOS 0.15 902910 BBG000BC1L02 14316
HORMEL FOODS CORP HRL 0.15 903591 BBG000BLF8D2 42462
CLOROX COMPANY CLX 0.15 896808 BBG000BFS7D3 10191
WELLTOWER INC WELL 0.14 839868 BBG000BKY1G5 3580
GLENCORE PLC -UNSP ADR GLNCY 0.14 849721 BBG001VKX1Z1 61396
GENUINE PARTS CO GPC 0.14 848960 BBG000BKL348 7022
STARBUCKS CORP SBUX 0.14 843874 BBG000CTQBF3 8140
Barrick Mining Corp. B 0.13 796196 N/A 21513
International Business Machines Corporation IBM 0.13 791734 BBG000BLNNH6 3071
BOOKING HOLDINGS INC BKNG 0.13 788052 BBG000BLBVN4 5320
EVERSOURCE ENERGY ES 0.13 788188 BBG000BQ87N0 11498
ARM HOLDINGS PLC ARM 0.12 740874 BBG01J1GXZF0 3597
Marriott International, Inc Class A MAR 0.12 725129 BBG000BGD7W6 1816
ADOBE SYSTEMS INC ADBE 0.12 727168 BBG000BB5006 2906
PPG INDUSTRIES INC PPG 0.12 728833 BBG000BRJ809 6098
FORTINET INC FTNT 0.12 730886 BBG000BCMBG4 5371
NUCOR CORP NUE 0.12 736163 BBG000BQ8KV2 2688
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.11 667425 N/A 26815
CSX CORP CSX 0.11 665992 BBG000BGJRC8 12810
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.11 676514 BBG000PVRDL2 5803
INTUIT INC INTU 0.11 665467 BBG000BH5DV1 1951
CADENCE DESIGN SYS INC CDNS 0.11 668896 BBG000C13CD9 2040
CONSTELLATION ENERGY CORPORATION CEG 0.11 668807 BBG014KFRNP7 2549
SYNOPSYS INC SNPS 0.11 670085 BBG000BSFRF3 1433
MONSTER BEVERAGE CORP MNST 0.11 667967 BBG008NVB1C0 14110
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 588912 BBG000BBTJZ1 2253
CINTAS CORP CTAS 0.10 599889 BBG000H3YXF8 2729
MERCADOLIBRE INC MELI 0.10 604325 BBG000GQPB11 372
REGENERON PHARMACEUTICALS REGN 0.10 617047 BBG000C734W3 665
Datadog Inc. Class A DDOG 0.10 613114 BBG003NJHZT9 2606
MODERNA INC MRNA 0.10 607734 BBG003PHHZT1 2741
LUMENTUM HOLDINGS INC LITE 0.10 625481 BBG0073F9RT7 744
PROLOGIS INC PLD 0.10 602274 BBG000B9Z0J8 4706
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 545041 BBG000D4LWF6 8393
Cash & Other Cash&Other 0.09 550798 N/A 550798
APPLOVIN CORP APP 0.09 543373 BBG006HFPX77 2378
DOORDASH INC CLASS A DASH 0.09 542519 BBG005D7QCJ3 3031
FRANCO-NEVADA CORP FNV 0.09 550003 BBG000TRN6Z1 2445
COMCAST CORP-CLASS A CMCSA 0.09 551173 BBG000BFT2L4 23737
ROSS STORES INC ROST 0.09 541024 BBG000BSBZH7 2370
EQUINIX INC EQIX 0.09 546384 BBG000MBDGM6 539
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.08 479453 BBG022XF4SZ9 2196
OREILLY AUTOMOTIVE INC ORLY 0.08 478580 BBG000BGYWY6 5431
AIRBNB INC ABNB 0.08 483307 BBG001Y2XS07 2940
NXP Semiconductors NV NXPI 0.08 491182 BBG000BND699 1892
AMERICAN ELECTRIC POWER AEP 0.08 480605 BBG000BB9KF2 3691
ROPER TECHNOLOGIES INC ROP 0.08 482464 BBG000F1ZSN5 1034
PUBLIC STORAGE PSA 0.07 423500 BBG000BPPN67 1304
DIAMONDBACK ENERGY INC FANG 0.07 425220 BBG002PHSYX9 2005
VALE SA-SP ADR VALE 0.07 426237 BBG000BN5LG7 37422
FASTENAL CO FAST 0.07 420731 BBG000BJ8YN7 8105
DIGITAL REALTY TRUST INC DLR 0.07 430608 BBG000Q5ZRM7 2383
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 432552 BBG000C30L48 357
SIMON PROPERTY GROUP INC SPG 0.07 423959 BBG000BJ2D31 1947
HONEYWELL AEROSPACE INC HONAV HONAV 0.06 364565 BBG020QYV152 2365
ASTERA LABS INC ALAB 0.06 374080 BBG00TDKHW99 1446
Ventas Inc. VTR 0.06 361418 BBG000FRVHB9 4262
EXELON CORP EXC 0.06 360879 BBG000J6XT05 7818
XCEL ENERGY INC XEL 0.06 361664 BBG000BCTQ65 4531
MICROSTRATEGY INC-CL A MSTR 0.06 367386 BBG000GQJPZ0 2815
PACCAR INC PCAR 0.06 362902 BBG000BQVTF5 3561
KEURIG DR PEPPER INC KDP 0.06 363919 BBG000TJM7F0 10154
Baker Hughes Company BKR 0.06 365567 BBG00GBVBK51 6619
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 361685 BBG00LBLDDR2 4601
AUTODESK INC ADSK 0.06 367426 BBG000BM7HL0 1472
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 359813 BBG00B6BFWH9 3178
PAYPAL HOLDINGS INC PYPL 0.06 362869 BBG0077VNXV6 6365
Vivmark Residential VMRK 0.06 361434 BBG000BG8M31 5839
THOMSON REUTERS CORP TRI 0.05 301538 N/A 2550
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 316212 BBG00CMNZNK7 316212
IRON MOUNTAIN INC IRM 0.05 305478 BBG000KCZPC3 2621
FERROVIAL SA FER 0.05 299278 BBG01H0DF657 5412.88
Nebius Group NV NBIS 0.05 308897 BBG001NVJ6W4 2004
PAYCHEX INC PAYX 0.05 301491 BBG000BQSQ38 2689
IDEXX LABS IDXX 0.05 297102 BBG000BLRT07 539
TERADYNE INC TER 0.05 310312 BBG000BV4DR6 1131
MICROCHIP TECHNOLOGY INC MCHP 0.05 306576 BBG000BHCP19 3964
ROCKET LAB CORP RKLB 0.04 245628 BBG01V7JN3F3 4488
DEXCOM INC DXCM 0.04 241274 BBG000QTF8K1 2932
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 241136 BBG000BS1YV5 1268
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 242727 BBG01BFR8YV1 3170
AXON ENTERPRISE INC AXON 0.04 242973 BBG000BHJWG1 568
VICI PROPERTIES INC REIT VICI 0.04 242570 BBG00HVVB499 9917
WORKDAY INC-CLASS A WDAY 0.04 242527 BBG000VC0T95 1226
Old Dominion Freight Line Inc. ODFL 0.04 241239 BBG000CHSS88 1398
EXTRA SPACE STORAGE INC EXR 0.04 241355 BBG000PV27K3 1595
COREWEAVE INC CRWV 0.03 185186 BBG011ZTRJ21 3375
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 176055 BBG000BFGNJ5 1067
AIR PRODUCTS & CHEMICALS INC APD 0.03 182897 BBG000BC4JJ4 578
COPART INC CPRT 0.03 180659 BBG000BM9RH1 5996
ABBVIE INC ABBV 0.03 181357 BBG0025Y4RY4 615
CONSOLIDATED EDISON INC ED 0.03 181025 BBG000BHLYS1 1552
MCDONALDS CORP MCD 0.03 180684 BBG000BNSZP1 700
MID-AMERICA APARTMENT COMM MAA 0.02 120140 BBG000BLMY92 1025
ESSEX PROPERTY TRUST INC ESS 0.02 120466 BBG000CGJMB9 456
KIMCO REALTY CORP KIM 0.02 121202 BBG000CN3S73 4943
Omega Healthcare Investors Inc OHI 0.02 120598 BBG000BGBTC2 2567
W. P. CAREY REIT INC WPC 0.02 120316 BBG000BCQM58 1877
INVITATION HOMES INC REIT USD.01 INVH 0.02 120450 BBG00FQH6BS9 4535
REGENCY CENTERS CORP REG 0.02 120463 BBG000BL46Q4 1615
HOST HOTELS & RESORTS INC HST 0.02 121288 BBG000BL8804 4794

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.