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 06/18/2026
TICKER RAA
NET ASSETS $596M
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 $29.79
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 06/18/2026

NET ASSET VALUE

$29.79

CLOSING PRICE

$29.81

PREMIUM/DISCOUNT

0.08%
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 36
Discount 5 13 16 8 12

Asset Allocation

As of 6/18/2026

Equities

42.89%
Nasdaq
17.29%
US Large Cap
15.15%
Dividend Payers
3.14%
Emerging Ex. China
2.13%
Japan
2.10%
US Small Cap
2.06%
Europe
1.02%

Fixed Income

19.36%
High Yield
6.10%
Emerging Mkt Bonds
4.09%
Corporate Bonds
4.06%
TIPS
3.02%
T-Bills
1.06%
Long Term Treasuries
1.03%

Alternatives

37.75%
Managed Futures
10.19%
Commodities
9.57%
Energy
4.80%
Gold
4.70%
Miners
3.87%
Bitcoin
2.57%
Real Estate
2.05%

Holdings

As of 06/18/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.15 90256600 BBG00RYR67P4 628440
INVESCO OPTIMUM YIELD DIVERS PDBC 9.57 57028200 N/A 3456250
iM DBi Managed Futures Strategy ETF DBMF 9.17 54641800 N/A 1767200
SCHWAB HIGH YIELD BOND ETF SCYB 6.10 36315200 BBG01F80WX71 1387140
SPROTT PHYSICAL GOLD TRUS PHYS 4.70 28005600 BBG000Q83F79 880125
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.09 24389500 BBG000NXKWH0 252140
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.06 24191100 BBG000PWYVH7 293297
SCHWAB U.S. TIPS ETF SCHP 3.02 18016200 BBG000BGN6P5 680115
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.57 15320700 N/A 550314
ISHARES MSCI EMR MRK EX CHNA EMXC 2.13 12705700 BBG00H5VLMJ6 120148
Franklin FTSE Japan ETF FLJP 2.10 12514600 BBG00J3MDY16 304937
VANGUARD SMALL-CAP ETF VB 2.06 12266600 BBG000HT3Z79 41370
NVIDIA CORP NVDA 1.40 8368400 BBG000BBJQV0 39719
APPLE INC AAPL 1.22 7250880 BBG000B9XRY4 24331
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.03 6125380 BBG00PZFJPC3 195200
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.02 6092420 BBG01922X0X9 121946
Simplify DBi CTA Managed Futures Index ETF SDMF 1.02 6083540 BBG020BR8WR7 236230
Franklin FTSE Europe ETF FLEE 1.02 6067980 BBG00J3PR1S7 154677
MICRON TECHNOLOGY INC MU 0.93 5536140 BBG000C5Z1S3 4882
BHP GROUP LTD BHP 0.79 4706580 BBG000BD5NZ4 53563
MICROSOFT CORP MSFT 0.73 4333890 BBG000BPH459 11423
AMAZON.COM INC AMZN 0.73 4346230 BBG000BVPV84 17784
ADVANCED MICRO DEVICES INC AMD 0.68 4030280 BBG000BBQCY0 7500
ALPHABET INC-CL A GOOGL 0.60 3591240 BBG009S39JX6 9758
CHEVRON CORP CVX 0.57 3406620 BBG000K4ND22 19620
ALPHABET INC-CL C GOOG 0.56 3346460 BBG009S3NB30 9107
Tesla Inc. TSLA 0.56 3321260 BBG000N9MNX3 8293
WILLIAMS COMPANIES INC. WMB 0.52 3102630 BBG000BWVCP8 42432
INTEL CORP INTC 0.52 3113260 BBG000C0G1D1 23235
Cheniere Energy Inc LNG 0.51 3049920 BBG000C3HSR0 13434
MARATHON PETROLEUM CORP MPC 0.50 2957190 BBG001DCCGR8 12174
Broadcom Inc. AVGO 0.50 2996470 BBG00KHY5S69 7296
EXXON MOBIL CORP XOM 0.48 2881060 BBG000GZQ728 20906
META PLATFORMS INC META 0.48 2838770 BBG000MM2P62 4918
CANADIAN NATURAL RESOURCES CNQ 0.47 2774690 BBG000HW5GX3 67593
OCCIDENTAL PETROLEUM CORP OXY 0.47 2788070 BBG000BQQ2S6 53803
EQT CORP EQT 0.47 2798320 BBG000BHZ5J9 55172
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2747220 BBG000BPWXK1 26469
WAL-MART STORES INC WMT 0.45 2696080 BBG000BWXBC2 23008
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.45 2709180 BBG000BRK7L6 48964
SCHLUMBERGER LTD SLB 0.45 2660340 BBG000BT41Q8 55320
RIO TINTO PLC-SPON ADR RIO 0.43 2560650 BBG000FD28T3 25586
LAM RESH CORP LRCX 0.37 2204300 BBG000BNFLM9 5666
APPLIED MATERIALS INC AMAT 0.36 2141990 BBG000BBPFB9 3471
CISCO SYSTEMS INC CSCO 0.36 2121360 BBG000C3J3C9 17746
FREEPORT-MCMORAN INC FCX 0.35 2099550 BBG000BJDB15 30570
COSTCO WHOLESALE CORP COST 0.34 2016120 BBG000F6H8W8 2119
AGNICO EAGLE MINES LTD AEM 0.33 1978090 BBG000DLVDK3 11869
GLENCORE PLC -UNSP ADR GLNCY 0.30 1789500 BBG001VKX1Z1 119779
REALTY INCOME CORP O 0.26 1549010 BBG000DHPN63 25714
NETFLIX INC NFLX 0.25 1496990 BBG000CL9VN6 19346
WELLTOWER INC WELL 0.25 1515360 BBG000BKY1G5 7333
KLA CORPORATION KLAC 0.25 1462100 BBG000BMTFR4 5633
Barrick Mining Corp. B 0.25 1502180 N/A 37238
SANDISK CORP/DE SNDKV SNDK 0.24 1428830 BBG01R388JG1 654
PROLOGIS INC PLD 0.24 1429990 BBG000B9Z0J8 10175
TEXAS INSTRUMENTS INC TXN 0.23 1356980 BBG000BVV7G1 4203
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1309660 N/A 49477
AUTOMATIC DATA PROCESSING ADP 0.22 1293210 BBG000JG0547 5921
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1222390 BBG000PVRDL2 9973
EQUINIX INC EQIX 0.21 1244000 BBG000MBDGM6 1139
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1176270 BBG000N7QR55 9156
NUCOR CORP NUE 0.20 1191110 BBG000BQ8KV2 4885
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1161260 BBG00ZXBJ153 3739
WESTERN DIGITAL CORP WDC 0.19 1137250 BBG000BWNFZ9 1524
LINDE PLC LIN 0.18 1084730 BBG01FND0CC1 2118
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.18 1053110 BBG0113JGQF0 984
QUALCOMM INC QCOM 0.18 1054580 BBG000CGC1X8 4664
PALO ALTO NETWORKS INC PANW 0.17 1005500 BBG0014GJCT9 3494
STANLEY BLACK & DECKER INC SWK 0.17 989818 BBG000BTQR96 11410
FRANCO-NEVADA CORP FNV 0.17 982943 BBG000RD3CL8 4483
MEDTRONIC PLC MDT 0.16 969297 BBG000BNWG87 12217
FRANKLIN RESOURCES INC BEN 0.16 964531 BBG000BD0TF8 29184
VALE SA-SP ADR VALE 0.16 973943 BBG000BN5LG7 63161
CLOROX COMPANY CLX 0.16 948324 BBG000BFS7D3 9899
ILLINOIS TOOL WORKS ITW 0.16 969210 BBG000BMBL90 3670
T ROWE PRICE GROUP INC TROW 0.16 934079 BBG000BVMPN3 8677
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 960368 N/A 23378
ANALOG DEVICES INC ADI 0.16 980576 BBG000BB6G37 2257
KENVUE INC KVUE 0.16 946371 BBG01C79X561 52228
Kimberly-Clark Corp KMB 0.16 943757 BBG000BMW2Z0 9202
HORMEL FOODS CORP HRL 0.16 938109 BBG000BLF8D2 38829
EVERSOURCE ENERGY ES 0.15 887760 BBG000BQ87N0 12757
T-MOBILE US INC TMUS 0.15 921975 BBG000NDV1D4 5075
SIMON PROPERTY GROUP INC SPG 0.15 874906 BBG000BJ2D31 4140
PEPSICO INC PEP 0.15 895720 BBG000DH7JK6 6307
AMGEN INC AMGN 0.14 833534 BBG000BBS2Y0 2469
GENUINE PARTS CO GPC 0.14 855578 BBG000BKL348 7871
DIGITAL REALTY TRUST INC DLR 0.13 782892 BBG000Q5ZRM7 4161
ABBVIE INC ABBV 0.13 764859 BBG0025Y4RY4 3533
ASML HOLDING NV-NY REG SHS ASML 0.13 756435 BBG000K6MRN4 392
PUBLIC STORAGE PSA 0.13 753626 BBG000BPPN67 2369
AO Smith Corp AOS 0.13 792607 BBG000BC1L02 13614
PPG INDUSTRIES INC PPG 0.13 798660 BBG000BRJ809 6754
GILEAD SCIENCES INC GILD 0.12 704937 BBG000CKGBP2 5696
J M Smucker Co COM STK NPV SJM 0.12 711056 BBG000BT1715 6414
Crowdstrike Holdings Inc. Class A CRWD 0.12 725952 BBG00BLYKS03 1060
International Business Machines Corporation IBM 0.11 679794 BBG000BLNNH6 2729
APPLOVIN CORP APP 0.11 645382 BBG006HFPX77 1374
Ventas Inc. VTR 0.11 648067 BBG000FRVHB9 7942
HONEYWELL INTERNATIONAL INC HON 0.11 654511 BBG000H556T9 2858
INTUITIVE SURGICAL INC ISRG 0.11 656543 BBG000BJPDZ1 1614
BOOKING HOLDINGS INC BKNG 0.10 617893 BBG000BLBVN4 3597
SHOPIFY INC - CLASS A SHOP 0.10 582130 BBG008HBD923 5348
IRON MOUNTAIN INC IRM 0.10 614607 BBG000KCZPC3 4808
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 520342 BBG000BBTJZ1 2353
VERTEX PHARMACEUTICALS INC VRTX 0.09 519374 BBG000C1S2X2 1150
STARBUCKS CORP SBUX 0.09 538779 BBG000CTQBF3 5353
CONSTELLATION ENERGY CORPORATION CEG 0.08 452473 BBG014KFRNP7 1651
Marriott International, Inc Class A MAR 0.08 482572 BBG000BGD7W6 1218
EXTRA SPACE STORAGE INC EXR 0.08 487582 BBG000PV27K3 3355
FORTINET INC FTNT 0.08 460531 BBG000BCMBG4 3182
VICI PROPERTIES INC REIT VICI 0.08 454986 BBG00HVVB499 17313
CADENCE DESIGN SYS INC CDNS 0.08 475715 BBG000C13CD9 1228
MONSTER BEVERAGE CORP MNST 0.07 408838 BBG008NVB1C0 4476
CSX CORP CSX 0.07 399491 BBG000BGJRC8 8755
SYNOPSYS INC SNPS 0.07 404948 BBG000BSFRF3 889
AVALONBAY COMMUNITIES INC AVB 0.07 411737 BBG000BLPBL5 2322
FASTENAL CO FAST 0.07 431779 BBG000BJ8YN7 9409
EQUITY RESIDENTIAL EQR 0.07 417867 BBG000BG8M31 6520
ADOBE SYSTEMS INC ADBE 0.06 339578 BBG000BB5006 1740
NXP Semiconductors NV NXPI 0.06 366839 BBG000BND699 1171
ROSS STORES INC ROST 0.06 328714 BBG000BSBZH7 1412
MERCADOLIBRE INC MELI 0.06 377720 BBG000GQPB11 231
OREILLY AUTOMOTIVE INC ORLY 0.06 337460 BBG000BGYWY6 3886
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 349959 BBG000D4LWF6 5821
COMCAST CORP-CLASS A CMCSA 0.06 373415 BBG000BFT2L4 16648
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 350269 BBG000C30L48 224
AIRBNB INC ABNB 0.05 269440 BBG001Y2XS07 1892
DOORDASH INC CLASS A DASH 0.05 311881 BBG005D7QCJ3 1798
REGENERON PHARMACEUTICALS REGN 0.05 286062 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 292310 BBG00FQH6BS9 10289
INTUIT INC INTU 0.05 320400 BBG000BH5DV1 1200
CINTAS CORP CTAS 0.05 318635 BBG000H3YXF8 1865
Datadog Inc. Class A DDOG 0.05 313092 BBG003NJHZT9 1404
LUMENTUM HOLDINGS INC LITE 0.05 282200 BBG0073F9RT7 332
AMERICAN ELECTRIC POWER AEP 0.05 323950 BBG000BB9KF2 2537
PACCAR INC PCAR 0.05 286670 BBG000BQVTF5 2410
Warner Bros Discovery Inc WBD 0.05 300488 BBG011386VF4 11469
ESSEX PROPERTY TRUST INC ESS 0.05 302176 BBG000CGJMB9 1104
ARM HOLDINGS PLC ARM 0.05 271586 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 220667 BBG000J6XT05 4817
MID-AMERICA APARTMENT COMM MAA 0.04 247378 BBG000BLMY92 1867
KIMCO REALTY CORP KIM 0.04 245580 BBG000CN3S73 10073
FERROVIAL SE FER 0.04 227526 BBG01H7CZ9S9 3287
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 253448 BBG00CMNZNK7 253448
DIAMONDBACK ENERGY INC FANG 0.04 237632 BBG002PHSYX9 1295
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 232315 BBG00LBLDDR2 2920
W. P. CAREY REIT INC WPC 0.04 232889 BBG000BCQM58 3270
ELECTRONIC ARTS INC EA 0.04 225195 BBG000BP0KQ8 1114
XCEL ENERGY INC XEL 0.04 219844 BBG000BCTQ65 2840
Sun Communities Inc SUI 0.04 234788 BBG000BLJWF3 1982
MICROCHIP TECHNOLOGY INC MCHP 0.04 247430 BBG000BHCP19 2480
HOST HOTELS & RESORTS INC HST 0.04 262755 BBG000BL8804 10506
Baker Hughes Company BKR 0.04 262903 BBG00GBVBK51 4501
IDEXX LABS IDXX 0.03 204039 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 200277 BBG000BS1YV5 837
KEURIG DR PEPPER INC KDP 0.03 193603 BBG000TJM7F0 6294
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 187694 BBG000B9ZXB4 2123
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 172694 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 189362 BBG000BM7HL0 977
MCDONALDS CORP MCD 0.03 179982 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 183046 BBG000BHLYS1 1721
MICROSTRATEGY INC-CL A MSTR 0.03 152928 BBG000GQJPZ0 1359
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 206267 BBG00B6BFWH9 2128
THOMSON REUTERS CORP TRI 0.03 149223 N/A 1899
PAYCHEX INC PAYX 0.03 153549 BBG000BQSQ38 1563
PAYPAL HOLDINGS INC PYPL 0.03 178797 BBG0077VNXV6 4206
ROPER TECHNOLOGIES INC ROP 0.03 153238 BBG000F1ZSN5 464
Old Dominion Freight Line Inc. ODFL 0.03 205567 BBG000CHSS88 930
AXON ENTERPRISE INC AXON 0.03 153694 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 181856 BBG000BC4JJ4 649
Zscaler Inc. ZS 0.02 113738 BBG003338H34 911
VERISK ANALYTICS INC VRSK 0.02 114013 BBG000BCZL41 656
WORKDAY INC-CLASS A WDAY 0.02 99039.7 BBG000VC0T95 847
COPART INC CPRT 0.02 133435 BBG000BM9RH1 4414
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 131125 BBG01BFR8YV1 2129
DEXCOM INC DXCM 0.02 120010 BBG000QTF8K1 1656
INSMED INC INSM 0.02 92159.6 BBG000BWM5P3 962
KRAFT HEINZ CO/THE KHC 0.02 125944 BBG005CPNTQ2 5519
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 91333 BBG000BBDV81 2090
CHARTER COMMUNICATIONS INC-A CHTR 0.01 75106.9 BBG000VPGNR2 595
Cash & Other Cash&Other 0.00 24456.8 N/A 24456.8
EURO EUR 0.00 1962.89 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.