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 06/23/2026
TICKER RAA
NET ASSETS $586M
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 $29.31
30 DAY MEDIAN BID-ASK SPREAD 0.000671

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 06/23/2026

NET ASSET VALUE

$29.31

CLOSING PRICE

$29.33

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 37
Discount 5 13 16 8 12

Asset Allocation

As of 6/23/2026

Equities

42.46%
Nasdaq
16.95%
US Large Cap
15.13%
Dividend Payers
3.18%
US Small Cap
2.08%
Japan
2.06%
Emerging Ex. China
2.04%
Europe
1.02%

Fixed Income

19.69%
High Yield
6.19%
Emerging Mkt Bonds
4.14%
Corporate Bonds
4.12%
TIPS
3.06%
T-Bills
1.14%
Long Term Treasuries
1.04%

Alternatives

37.85%
Managed Futures
10.24%
Commodities
9.54%
Energy
4.97%
Gold
4.65%
Miners
3.73%
Bitcoin
2.59%
Real Estate
2.13%

Holdings

As of 06/23/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.13 88666600 BBG00RYR67P4 628440
INVESCO OPTIMUM YIELD DIVERS PDBC 9.54 55922200 N/A 3456250
iM DBi Managed Futures Strategy ETF DBMF 9.22 54023300 N/A 1767200
SCHWAB HIGH YIELD BOND ETF SCYB 6.19 36273600 BBG01F80WX71 1387140
SPROTT PHYSICAL GOLD TRUS PHYS 4.65 27231100 BBG000Q83F79 880125
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.14 24271000 BBG000NXKWH0 252140
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.12 24158900 BBG000PWYVH7 293297
SCHWAB U.S. TIPS ETF SCHP 3.06 17941400 BBG000BGN6P5 680115
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.59 15166700 N/A 550314
VANGUARD SMALL-CAP ETF VB 2.08 12204600 BBG000HT3Z79 41370
Franklin FTSE Japan ETF FLJP 2.06 12090800 BBG00J3MDY16 304937
ISHARES MSCI EMR MRK EX CHNA EMXC 2.04 11970300 BBG00H5VLMJ6 120148
NVIDIA CORP NVDA 1.36 7945390 BBG000BBJQV0 39719
APPLE INC AAPL 1.22 7160610 BBG000B9XRY4 24331
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.04 6096100 BBG00PZFJPC3 195200
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.04 6093640 BBG01922X0X9 121946
Franklin FTSE Europe ETF FLEE 1.02 6005270 BBG00J3PR1S7 154677
Simplify DBi CTA Managed Futures Index ETF SDMF 1.02 6003710 BBG020BR8WR7 236230
MICRON TECHNOLOGY INC MU 0.88 5134740 BBG000C5Z1S3 4882
BHP GROUP LTD BHP 0.75 4405560 BBG000BD5NZ4 53563
MICROSOFT CORP MSFT 0.73 4271520 BBG000BPH459 11423
AMAZON.COM INC AMZN 0.71 4163410 BBG000BVPV84 17784
ADVANCED MICRO DEVICES INC AMD 0.67 3898880 BBG000BBQCY0 7500
CHEVRON CORP CVX 0.59 3452730 BBG000K4ND22 19620
ALPHABET INC-CL A GOOGL 0.58 3377540 BBG009S39JX6 9758
WILLIAMS COMPANIES INC. WMB 0.55 3215920 BBG000BWVCP8 42432
Tesla Inc. TSLA 0.54 3164690 BBG000N9MNX3 8293
Cheniere Energy Inc LNG 0.54 3146510 BBG000C3HSR0 13434
ALPHABET INC-CL C GOOG 0.54 3151750 BBG009S3NB30 9107
INTEL CORP INTC 0.52 3073530 BBG000C0G1D1 23235
MARATHON PETROLEUM CORP MPC 0.52 3025480 BBG001DCCGR8 12174
EXXON MOBIL CORP XOM 0.50 2921200 BBG000GZQ728 20906
EQT CORP EQT 0.49 2850190 BBG000BHZ5J9 55172
OCCIDENTAL PETROLEUM CORP OXY 0.48 2810130 BBG000BQQ2S6 53803
CANADIAN NATURAL RESOURCES CNQ 0.47 2772660 BBG000HW5GX3 67593
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.47 2766470 BBG000BRK7L6 48964
WAL-MART STORES INC WMT 0.47 2747620 BBG000BWXBC2 23008
META PLATFORMS INC META 0.47 2764900 BBG000MM2P62 4918
Broadcom Inc. AVGO 0.47 2773570 BBG00KHY5S69 7296
SCHLUMBERGER LTD SLB 0.45 2643740 BBG000BT41Q8 55320
NEWMONT GOLDCORP CORPORATION COM NEM 0.44 2589730 BBG000BPWXK1 26469
RIO TINTO PLC-SPON ADR RIO 0.42 2445510 BBG000FD28T3 25586
CISCO SYSTEMS INC CSCO 0.37 2149930 BBG000C3J3C9 17746
LAM RESH CORP LRCX 0.36 2103960 BBG000BNFLM9 5666
APPLIED MATERIALS INC AMAT 0.35 2033590 BBG000BBPFB9 3471
COSTCO WHOLESALE CORP COST 0.35 2029320 BBG000F6H8W8 2119
FREEPORT-MCMORAN INC FCX 0.34 1968710 BBG000BJDB15 30570
AGNICO EAGLE MINES LTD AEM 0.32 1900940 BBG000DLVDK3 11869
GLENCORE PLC -UNSP ADR GLNCY 0.29 1682900 BBG001VKX1Z1 119779
REALTY INCOME CORP O 0.27 1582180 BBG000DHPN63 25714
WELLTOWER INC WELL 0.27 1596170 BBG000BKY1G5 7333
PROLOGIS INC PLD 0.25 1477920 BBG000B9Z0J8 10175
NETFLIX INC NFLX 0.24 1408780 BBG000CL9VN6 19346
Barrick Mining Corp. B 0.24 1421750 N/A 37238
KLA CORPORATION KLAC 0.23 1377210 BBG000BMTFR4 5633
TEXAS INSTRUMENTS INC TXN 0.22 1279230 BBG000BVV7G1 4203
EQUINIX INC EQIX 0.22 1271040 BBG000MBDGM6 1139
AUTOMATIC DATA PROCESSING ADP 0.22 1305580 BBG000JG0547 5921
SANDISK CORP/DE SNDKV SNDK 0.22 1284190 BBG01R388JG1 654
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1220600 N/A 49477
NUCOR CORP NUE 0.20 1170590 BBG000BQ8KV2 4885
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1161460 BBG000PVRDL2 9973
LINDE PLC LIN 0.19 1084970 BBG01FND0CC1 2118
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.18 1068510 BBG000N7QR55 9156
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1043330 BBG00ZXBJ153 3739
WESTERN DIGITAL CORP WDC 0.17 1022220 BBG000BWNFZ9 1524
MEDTRONIC PLC MDT 0.17 985057 BBG000BNWG87 12217
FRANKLIN RESOURCES INC BEN 0.17 986127 BBG000BD0TF8 29184
PALO ALTO NETWORKS INC PANW 0.17 1016460 BBG0014GJCT9 3494
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1021240 BBG0113JGQF0 984
KENVUE INC KVUE 0.16 961518 BBG01C79X561 52228
Kimberly-Clark Corp KMB 0.16 956548 BBG000BMW2Z0 9202
HORMEL FOODS CORP HRL 0.16 959853 BBG000BLF8D2 38829
FRANCO-NEVADA CORP FNV 0.16 959003 BBG000RD3CL8 4483
QUALCOMM INC QCOM 0.16 952062 BBG000CGC1X8 4664
VALE SA-SP ADR VALE 0.16 966995 BBG000BN5LG7 63161
CLOROX COMPANY CLX 0.16 917043 BBG000BFS7D3 9899
STANLEY BLACK & DECKER INC SWK 0.16 956272 BBG000BTQR96 11410
ILLINOIS TOOL WORKS ITW 0.16 960219 BBG000BMBL90 3670
T ROWE PRICE GROUP INC TROW 0.16 919762 BBG000BVMPN3 8677
T-MOBILE US INC TMUS 0.16 936693 BBG000NDV1D4 5075
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 945173 N/A 23378
ANALOG DEVICES INC ADI 0.16 919186 BBG000BB6G37 2257
PEPSICO INC PEP 0.15 895909 BBG000DH7JK6 6307
AMGEN INC AMGN 0.15 856768 BBG000BBS2Y0 2469
EVERSOURCE ENERGY ES 0.15 906130 BBG000BQ87N0 12757
SIMON PROPERTY GROUP INC SPG 0.15 897304 BBG000BJ2D31 4140
GENUINE PARTS CO GPC 0.14 838025 BBG000BKL348 7871
PPG INDUSTRIES INC PPG 0.14 794946 BBG000BRJ809 6754
DIGITAL REALTY TRUST INC DLR 0.14 811395 BBG000Q5ZRM7 4161
ABBVIE INC ABBV 0.14 829407 BBG0025Y4RY4 3533
PUBLIC STORAGE PSA 0.13 761136 BBG000BPPN67 2369
AO Smith Corp AOS 0.13 781988 BBG000BC1L02 13614
Ventas Inc. VTR 0.12 678009 BBG000FRVHB9 7942
GILEAD SCIENCES INC GILD 0.12 712285 BBG000CKGBP2 5696
J M Smucker Co COM STK NPV SJM 0.12 708555 BBG000BT1715 6414
International Business Machines Corporation IBM 0.12 723021 BBG000BLNNH6 2729
Crowdstrike Holdings Inc. Class A CRWD 0.12 721775 BBG00BLYKS03 1060
ASML HOLDING NV-NY REG SHS ASML 0.12 697156 BBG000K6MRN4 392
HONEYWELL INTERNATIONAL INC HON 0.11 635533 BBG000H556T9 2858
INTUITIVE SURGICAL INC ISRG 0.11 650732 BBG000BJPDZ1 1614
IRON MOUNTAIN INC IRM 0.11 639752 BBG000KCZPC3 4808
APPLOVIN CORP APP 0.11 641686 BBG006HFPX77 1374
SHOPIFY INC - CLASS A SHOP 0.10 575873 BBG008HBD923 5348
BOOKING HOLDINGS INC BKNG 0.10 607677 BBG000BLBVN4 3597
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 520295 BBG000BBTJZ1 2353
VERTEX PHARMACEUTICALS INC VRTX 0.09 538683 BBG000C1S2X2 1150
STARBUCKS CORP SBUX 0.09 540921 BBG000CTQBF3 5353
CADENCE DESIGN SYS INC CDNS 0.08 465486 BBG000C13CD9 1228
CONSTELLATION ENERGY CORPORATION CEG 0.08 446199 BBG014KFRNP7 1651
Marriott International, Inc Class A MAR 0.08 471159 BBG000BGD7W6 1218
EXTRA SPACE STORAGE INC EXR 0.08 495735 BBG000PV27K3 3355
FORTINET INC FTNT 0.08 470936 BBG000BCMBG4 3182
VICI PROPERTIES INC REIT VICI 0.08 460872 BBG00HVVB499 17313
FASTENAL CO FAST 0.07 429050 BBG000BJ8YN7 9409
EQUITY RESIDENTIAL EQR 0.07 428364 BBG000BG8M31 6520
MONSTER BEVERAGE CORP MNST 0.07 419356 BBG008NVB1C0 4476
CSX CORP CSX 0.07 404131 BBG000BGJRC8 8755
SYNOPSYS INC SNPS 0.07 410274 BBG000BSFRF3 889
AVALONBAY COMMUNITIES INC AVB 0.07 423161 BBG000BLPBL5 2322
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 355430 BBG000D4LWF6 5821
COMCAST CORP-CLASS A CMCSA 0.06 379574 BBG000BFT2L4 16648
ADOBE SYSTEMS INC ADBE 0.06 343528 BBG000BB5006 1740
NXP Semiconductors NV NXPI 0.06 350220 BBG000BND699 1171
ROSS STORES INC ROST 0.06 323419 BBG000BSBZH7 1412
MERCADOLIBRE INC MELI 0.06 365825 BBG000GQPB11 231
OREILLY AUTOMOTIVE INC ORLY 0.06 340180 BBG000BGYWY6 3886
AMERICAN ELECTRIC POWER AEP 0.06 339298 BBG000BB9KF2 2537
PACCAR INC PCAR 0.05 281440 BBG000BQVTF5 2410
Warner Bros Discovery Inc WBD 0.05 308287 BBG011386VF4 11469
Baker Hughes Company BKR 0.05 264119 BBG00GBVBK51 4501
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 318922 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 308347 BBG000CGJMB9 1104
DOORDASH INC CLASS A DASH 0.05 308393 BBG005D7QCJ3 1798
REGENERON PHARMACEUTICALS REGN 0.05 289856 BBG000C734W3 469
INTUIT INC INTU 0.05 309660 BBG000BH5DV1 1200
INVITATION HOMES INC REIT USD.01 INVH 0.05 298895 BBG00FQH6BS9 10289
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 275221 BBG00CMNZNK7 275221
CINTAS CORP CTAS 0.05 314812 BBG000H3YXF8 1865
Datadog Inc. Class A DDOG 0.05 309680 BBG003NJHZT9 1404
LUMENTUM HOLDINGS INC LITE 0.05 274869 BBG0073F9RT7 332
XCEL ENERGY INC XEL 0.04 228137 BBG000BCTQ65 2840
MICROCHIP TECHNOLOGY INC MCHP 0.04 231285 BBG000BHCP19 2480
Sun Communities Inc SUI 0.04 236849 BBG000BLJWF3 1982
HOST HOTELS & RESORTS INC HST 0.04 260759 BBG000BL8804 10506
ARM HOLDINGS PLC ARM 0.04 226429 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 224569 BBG000J6XT05 4817
AIRBNB INC ABNB 0.04 262704 BBG001Y2XS07 1892
MID-AMERICA APARTMENT COMM MAA 0.04 249973 BBG000BLMY92 1867
KIMCO REALTY CORP KIM 0.04 253739 BBG000CN3S73 10073
FERROVIAL SE FER 0.04 230123 BBG01H7CZ9S9 3287
DIAMONDBACK ENERGY INC FANG 0.04 243343 BBG002PHSYX9 1295
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 223555 BBG00LBLDDR2 2920
W. P. CAREY REIT INC WPC 0.04 236421 BBG000BCQM58 3270
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 208055 BBG00B6BFWH9 2128
ELECTRONIC ARTS INC EA 0.04 226721 BBG000BP0KQ8 1114
PAYCHEX INC PAYX 0.03 153158 BBG000BQSQ38 1563
PAYPAL HOLDINGS INC PYPL 0.03 175390 BBG0077VNXV6 4206
ROPER TECHNOLOGIES INC ROP 0.03 152907 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 157194 BBG000BHJWG1 363
Old Dominion Freight Line Inc. ODFL 0.03 202349 BBG000CHSS88 930
AIR PRODUCTS & CHEMICALS INC APD 0.03 183310 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 196496 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 203090 BBG000BS1YV5 837
KEURIG DR PEPPER INC KDP 0.03 194296 BBG000TJM7F0 6294
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 192195 BBG000B9ZXB4 2123
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 178960 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 184438 BBG000BM7HL0 977
MCDONALDS CORP MCD 0.03 175492 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 187159 BBG000BHLYS1 1721
THOMSON REUTERS CORP TRI 0.03 153268 N/A 1899
KRAFT HEINZ CO/THE KHC 0.02 124012 BBG005CPNTQ2 5519
Zscaler Inc. ZS 0.02 114941 BBG003338H34 911
VERISK ANALYTICS INC VRSK 0.02 114643 BBG000BCZL41 656
WORKDAY INC-CLASS A WDAY 0.02 97515.1 BBG000VC0T95 847
COPART INC CPRT 0.02 130654 BBG000BM9RH1 4414
DEXCOM INC DXCM 0.02 114132 BBG000QTF8K1 1656
MICROSTRATEGY INC-CL A MSTR 0.02 141119 BBG000GQJPZ0 1359
INSMED INC INSM 0.02 98268.3 BBG000BWM5P3 962
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 135660 BBG01BFR8YV1 2129
COGNIZANT TECH SOLUTIONS-A CTSH 0.01 85585.5 BBG000BBDV81 2090
CHARTER COMMUNICATIONS INC-A CHTR 0.01 78391.2 BBG000VPGNR2 595
EURO EUR 0.00 1949.26 N/A 1713.03
Cash & Other Cash&Other 0.00 5472.55 N/A 5472.55

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.