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 08/05/2026
TICKER RAA
NET ASSETS $604M
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 $29.82
30 DAY MEDIAN BID-ASK SPREAD 0.00068

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 08/05/2026

NET ASSET VALUE

$29.82

CLOSING PRICE

$29.84

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 13
Discount 13 16 8 14 6

Asset Allocation

As of 8/5/2026

Equities

40.58%
Nasdaq
16.29%
US Large Cap
10.16%
Dividend Payers
5.03%
Emerging Ex. China
3.05%
US Small Cap
3.03%
Japan
2.02%
Europe
1.00%

Fixed Income

25.24%
Long Term Treasuries
5.98%
High Yield
5.94%
Emerging Mkt Bonds
3.98%
Corporate Bonds
3.96%
TIPS
2.96%
T-Bills
2.42%

Alternatives

34.18%
Managed Futures
10.75%
Commodities
8.58%
Energy
4.77%
Real Estate
3.82%
Miners
3.20%
Bitcoin
2.03%
Gold
1.03%

Holdings

As of 08/05/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.16 61329700 BBG00RYR67P4 1249080
iM DBi Managed Futures Strategy ETF DBMF 9.38 56639100 N/A 1844920
INVESCO OPTIMUM YIELD DIVERS PDBC 8.58 51814900 N/A 3051520
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.98 36138600 BBG00PZFJPC3 1196640
SCHWAB HIGH YIELD BOND ETF SCYB 5.94 35891700 BBG01F80WX71 1381780
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 24040800 BBG000NXKWH0 252609
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.96 23908400 BBG000PWYVH7 293390
ISHARES MSCI EMR MRK EX CHNA EMXC 3.05 18425300 BBG00H5VLMJ6 193767
VANGUARD SMALL-CAP ETF VB 3.03 18276600 BBG000HT3Z79 60303
SCHWAB U.S. TIPS ETF SCHP 2.96 17888600 BBG000BGN6P5 689881
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.03 12280000 N/A 428322
Franklin FTSE Japan ETF FLJP 2.02 12226500 BBG00J3MDY16 301740
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 11904200 BBG01922X0X9 238608
Simplify DBi CTA Managed Futures Index ETF SDMF 1.37 8289110 BBG020BR8WR7 324267
NVIDIA CORP NVDA 1.36 8240480 BBG000BBJQV0 37590
APPLE INC AAPL 1.33 8048990 BBG000B9XRY4 25881
SPROTT PHYSICAL GOLD TRUS PHYS 1.03 6235600 BBG000Q83F79 194074
Franklin FTSE Europe ETF FLEE 1.00 6054770 BBG00J3PR1S7 151215
MICROSOFT CORP MSFT 0.93 5594580 BBG000BPH459 11477
MICRON TECHNOLOGY INC MU 0.77 4674960 BBG000C5Z1S3 5234
BHP GROUP LTD BHP 0.70 4199610 BBG000BD5NZ4 46986
AMAZON.COM INC AMZN 0.67 4068760 BBG000BVPV84 14923
CHEVRON CORP CVX 0.60 3630710 BBG000K4ND22 19477
ADVANCED MICRO DEVICES INC AMD 0.58 3492930 BBG000BBQCY0 7246
WELLTOWER INC WELL 0.55 3343090 BBG000BKY1G5 14091
Broadcom Inc. AVGO 0.52 3133750 BBG00KHY5S69 7492
ALPHABET INC-CL A GOOGL 0.52 3168730 BBG009S39JX6 8743
SCHLUMBERGER LTD SLB 0.50 3000090 BBG000BT41Q8 60110
WILLIAMS COMPANIES INC. WMB 0.50 2993900 BBG000BWVCP8 41692
ALPHABET INC-CL C GOOG 0.49 2966030 BBG009S3NB30 8236
EQT CORP EQT 0.48 2877380 BBG000BHZ5J9 56166
REALTY INCOME CORP O 0.48 2870530 BBG000DHPN63 45782
Cheniere Energy Inc LNG 0.48 2884390 BBG000C3HSR0 11322
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.48 2924030 BBG023CY9MM1 19284
OCCIDENTAL PETROLEUM CORP OXY 0.47 2831970 BBG000BQQ2S6 52629
MARATHON PETROLEUM CORP MPC 0.47 2830110 BBG001DCCGR8 9505
CANADIAN NATURAL RESOURCES CNQ 0.46 2795800 BBG000HW5GX3 62476
Suncor Energy Inc. SU 0.46 2790840 BBG000BC1LY5 44426
META PLATFORMS INC META 0.45 2743670 BBG000MM2P62 4660
PROLOGIS INC PLD 0.44 2662190 BBG000B9Z0J8 18913
Tesla Inc. TSLA 0.42 2525130 BBG000N9MNX3 7853
WAL-MART STORES INC WMT 0.40 2404750 BBG000BWXBC2 21406
EQUINIX INC EQIX 0.37 2205350 BBG000MBDGM6 2088
INTEL CORP INTC 0.36 2201900 BBG000C0G1D1 21788
NEWMONT GOLDCORP CORPORATION COM NEM 0.35 2119690 BBG000BPWXK1 20325
CISCO SYSTEMS INC CSCO 0.34 2058090 BBG000C3J3C9 16939
AUTOMATIC DATA PROCESSING ADP 0.33 2000290 BBG000JG0547 7406
RIO TINTO PLC-SPON ADR RIO 0.32 1926660 BBG000FD28T3 18980
FREEPORT-MCMORAN INC FCX 0.32 1908220 BBG000BJDB15 27500
PEPSICO INC PEP 0.31 1895040 BBG000DH7JK6 13655
COSTCO WHOLESALE CORP COST 0.30 1826520 BBG000F6H8W8 1939
APPLIED MATERIALS INC AMAT 0.29 1777420 BBG000BBPFB9 3327
SIMON PROPERTY GROUP INC SPG 0.28 1679780 BBG000BJ2D31 7472
CLOROX COMPANY CLX 0.27 1648460 BBG000BFS7D3 15575
DIGITAL REALTY TRUST INC DLR 0.27 1645010 BBG000Q5ZRM7 8439
STANLEY BLACK & DECKER INC SWK 0.27 1609360 BBG000BTQR96 15584
LAM RESH CORP LRCX 0.27 1625940 BBG000BNFLM9 5289
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.27 1616140 BBG000N7QR55 10201
PUBLIC STORAGE PSA 0.26 1563050 BBG000BPPN67 4775
AO Smith Corp AOS 0.26 1567430 BBG000BC1L02 24809
AGNICO EAGLE MINES LTD AEM 0.26 1555730 BBG000DLVDK3 9403
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1588360 N/A 33264
KENVUE INC KVUE 0.25 1519230 BBG01C79X561 77236
Kimberly-Clark Corp KMB 0.25 1523060 BBG000BMW2Z0 13554
HORMEL FOODS CORP HRL 0.25 1494980 BBG000BLF8D2 59254
MEDTRONIC PLC MDT 0.25 1498380 BBG000BNWG87 17425
FRANKLIN RESOURCES INC BEN 0.25 1523560 BBG000BD0TF8 43630
T ROWE PRICE GROUP INC TROW 0.25 1523600 BBG000BVMPN3 13251
ABBVIE INC ABBV 0.24 1455780 BBG0025Y4RY4 5913
GENUINE PARTS CO GPC 0.23 1379650 BBG000BKL348 10506
PPG INDUSTRIES INC PPG 0.23 1403830 BBG000BRJ809 11784
NETFLIX INC NFLX 0.23 1418930 BBG000CL9VN6 19123
EVERSOURCE ENERGY ES 0.23 1372730 BBG000BQ87N0 18942
International Business Machines Corporation IBM 0.23 1399710 BBG000BLNNH6 5933
Barrick Mining Corp ABX 0.22 1325710 N/A 32295
Ventas Inc. VTR 0.22 1356670 BBG000FRVHB9 14662
GLENCORE PLC -UNSP ADR GLNCY 0.21 1254900 BBG001VKX1Z1 81381
PALO ALTO NETWORKS INC PANW 0.21 1297600 BBG0014GJCT9 3578
ILLINOIS TOOL WORKS ITW 0.20 1233880 BBG000BMBL90 4150
NUCOR CORP NUE 0.19 1140720 BBG000BQ8KV2 4152
TEXAS INSTRUMENTS INC TXN 0.19 1133100 BBG000BVV7G1 4080
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.18 1066080 BBG000PVRDL2 8680
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1058580 BBG000BBTJZ1 4221
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1089460 N/A 40157
IRON MOUNTAIN INC IRM 0.17 1039540 BBG000KCZPC3 8177
LINDE PLC LIN 0.17 1040530 BBG01FND0CC1 2119
KLA CORPORATION KLAC 0.17 1038610 BBG000BMTFR4 5387
AMGEN INC AMGN 0.16 945350 BBG000BBS2Y0 2318
EXTRA SPACE STORAGE INC EXR 0.16 962957 BBG000PV27K3 6418
SPACE EXPLORATION TECH CORP A SPCX 0.16 945305 BBG000NQF3Z5 8731
SANDISK CORP/DE SNDKV SNDK 0.15 884578 BBG01R388JG1 655
Crowdstrike Holdings Inc. Class A CRWD 0.15 917298 BBG00BLYKS03 4371
FRANCO-NEVADA CORP FNV 0.14 819884 BBG000TRN6Z1 3619
VICI PROPERTIES INC REIT VICI 0.14 841474 BBG00HVVB499 31874
T-MOBILE US INC TMUS 0.14 848046 BBG000NDV1D4 4889
WESTERN DIGITAL CORP WDC 0.13 774602 BBG000BWNFZ9 1492
QUALCOMM INC QCOM 0.13 756932 BBG000CGC1X8 4805
VALE SA-SP ADR VALE 0.13 766108 BBG000BN5LG7 51279
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 785725 BBG0113JGQF0 938
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 776765 BBG00ZXBJ153 3681
SHOPIFY INC - CLASS A SHOP 0.13 797214 BBG004DW5NB8 5527
AVALONBAY COMMUNITIES INC AVB 0.13 787830 BBG000BLPBL5 4155
ANALOG DEVICES INC ADI 0.13 791638 BBG000BB6G37 2096
EQUITY RESIDENTIAL EQR 0.12 725563 BBG000BG8M31 10711
GILEAD SCIENCES INC GILD 0.12 721913 BBG000CKGBP2 5479
BOOKING HOLDINGS INC BKNG 0.12 698071 BBG000BLBVN4 3372
ASML HOLDING NV-NY REG SHS ASML 0.11 661219 BBG000K6MRN4 394
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.10 576665 BBG00CMNZNK7 576665
FASTENAL CO FAST 0.09 565437 BBG000BJ8YN7 11311
INTUITIVE SURGICAL INC ISRG 0.09 567678 BBG000BJPDZ1 1513
ARM HOLDINGS PLC ARM 0.09 529939 BBG01J1GXZF0 1930
ESSEX PROPERTY TRUST INC ESS 0.09 541515 BBG000CGJMB9 1880
VERTEX PHARMACEUTICALS INC VRTX 0.09 545434 BBG000C1S2X2 1125
STARBUCKS CORP SBUX 0.09 539646 BBG000CTQBF3 5091
INVITATION HOMES INC REIT USD.01 INVH 0.09 549488 BBG00FQH6BS9 18016
APPLOVIN CORP APP 0.09 571550 BBG006HFPX77 1368
Sun Communities Inc SUI 0.08 465794 BBG000BLJWF3 3854
HOST HOTELS & RESORTS INC HST 0.08 475912 BBG000BL8804 18938
MID-AMERICA APARTMENT COMM MAA 0.08 480783 BBG000BLMY92 3573
KIMCO REALTY CORP KIM 0.08 465442 BBG000CN3S73 18715
FORTINET INC FTNT 0.08 486153 BBG000BCMBG4 2962
W. P. CAREY REIT INC WPC 0.08 467943 BBG000BCQM58 6483
Cash & Other Cash&Other 0.07 451936 N/A 451936
CADENCE DESIGN SYS INC CDNS 0.07 414933 BBG000C13CD9 1231
CONSTELLATION ENERGY CORPORATION CEG 0.07 418094 BBG014KFRNP7 1577
ADOBE SYSTEMS INC ADBE 0.07 434102 BBG000BB5006 1674
Marriott International, Inc Class A MAR 0.07 402138 BBG000BGD7W6 1113
MONSTER BEVERAGE CORP MNST 0.07 408067 BBG008NVB1C0 4320
MERCADOLIBRE INC MELI 0.07 426811 BBG000GQPB11 222
CSX CORP CSX 0.07 421944 BBG000BGJRC8 8254
Datadog Inc. Class A DDOG 0.07 434949 BBG003NJHZT9 1536
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 361511 BBG022XF4SZ9 1457
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 360013 BBG000D4LWF6 5751
COMCAST CORP-CLASS A CMCSA 0.06 368651 BBG000BFT2L4 14895
DOORDASH INC CLASS A DASH 0.06 376610 BBG005D7QCJ3 1817
ROSS STORES INC ROST 0.06 360079 BBG000BSBZH7 1422
REGENERON PHARMACEUTICALS REGN 0.06 361233 BBG000C734W3 470
INTUIT INC INTU 0.06 372540 BBG000BH5DV1 1136
CINTAS CORP CTAS 0.06 351040 BBG000H3YXF8 1743
PACCAR INC PCAR 0.05 298148 BBG000BQVTF5 2236
Warner Bros Discovery Inc WBD 0.05 295201 BBG011386VF4 11367
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 279855 BBG000C30L48 208
NXP Semiconductors NV NXPI 0.05 290787 BBG000BND699 1258
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 297891 BBG000B9ZXB4 2818
AIRBNB INC ABNB 0.05 299338 BBG001Y2XS07 1963
SYNOPSYS INC SNPS 0.05 310235 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 301400 BBG000BNSZP1 1100
CONSOLIDATED EDISON INC ED 0.05 294955 BBG000BHLYS1 2723
OREILLY AUTOMOTIVE INC ORLY 0.05 311342 BBG000BGYWY6 3332
AMERICAN ELECTRIC POWER AEP 0.05 292652 BBG000BB9KF2 2314
HONEYWELL AEROSPACE INC HONAV HONAV 0.05 291409 BBG020QYV152 1431
XCEL ENERGY INC XEL 0.04 234688 BBG000BCTQ65 3040
PAYPAL HOLDINGS INC PYPL 0.04 241163 BBG0077VNXV6 4163
ASTERA LABS INC ALAB 0.04 238504 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 242795 BBG00GBVBK51 3937
TERADYNE INC TER 0.04 243369 BBG000BV4DR6 625
AUTODESK INC ADSK 0.04 244351 BBG000BM7HL0 1018
DIAMONDBACK ENERGY INC FANG 0.04 219308 BBG002PHSYX9 1178
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 245720 BBG00LBLDDR2 2702
LUMENTUM HOLDINGS INC LITE 0.04 270187 BBG0073F9RT7 327
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 236162 BBG00B6BFWH9 2175
PAYCHEX INC PAYX 0.03 181426 BBG000BQSQ38 1534
MICROCHIP TECHNOLOGY INC MCHP 0.03 184207 BBG000BHCP19 2368
ROPER TECHNOLOGIES INC ROP 0.03 180300 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 207836 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 181193 BBG000CHSS88 841
IDEXX LABS IDXX 0.03 188299 BBG000BLRT07 322
EXELON CORP EXC 0.03 177869 BBG000J6XT05 3887
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 173833 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 175798 BBG000TJM7F0 5717
FERROVIAL SA FER 0.03 181540 BBG01H0DF657 2727.88
Nebius Group NV NBIS 0.03 205194 BBG001NVJ6W4 937
ROCKET LAB CORP RKLB 0.03 205007 BBG01V7JN3F3 2740
THOMSON REUTERS CORP TRI 0.03 180654 N/A 1832
KRAFT HEINZ CO/THE KHC 0.02 118075 BBG005CPNTQ2 4589
WORKDAY INC-CLASS A WDAY 0.02 127464 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 134030 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 123060 BBG01BFR8YV1 1752
COREWEAVE INC CRWV 0.02 148229 BBG011ZTRJ21 1649
COPART INC CPRT 0.02 118444 BBG000BM9RH1 4097
DEXCOM INC DXCM 0.02 118204 BBG000QTF8K1 1430
MICROSTRATEGY INC-CL A MSTR 0.02 125028 BBG000GQJPZ0 1271

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.