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 05/20/2026
TICKER RAA
NET ASSETS $591M
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 $29.94
30 DAY MEDIAN BID-ASK SPREAD 0.000679

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 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 05/20/2026

NET ASSET VALUE

$29.94

CLOSING PRICE

$29.95

PREMIUM/DISCOUNT

0.01%
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 20
Discount 5 13 16 8 8

Asset Allocation

As of 5/20/2026

Equities

46.81%
Nasdaq
18.68%
US Large Cap
14.23%
US Small Cap
3.94%
Dividend Payers
3.90%
Emerging Ex. China
2.05%
Japan
2.02%
Europe
1.99%

Fixed Income

26.26%
Long Term Treasuries
6.73%
High Yield
5.87%
Corporate Bonds
5.85%
Emerging Mkt Bonds
3.90%
TIPS
2.89%
T-Bills
1.02%

Alternatives

26.93%
Miners
6.98%
Managed Futures
6.02%
Gold
4.82%
Commodities
3.90%
Bitcoin
2.18%
Energy
2.05%
Real Estate
0.98%

Holdings

As of 05/20/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.23 84015900 BBG00RYR67P4 592287
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.73 39754400 BBG00PZFJPC3 1303420
SCHWAB HIGH YIELD BOND ETF SCYB 5.87 34680200 BBG01F80WX71 1327720
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.85 34575800 BBG000PWYVH7 421194
iM DBi Managed Futures Strategy ETF DBMF 5.22 30845100 N/A 991485
SPROTT PHYSICAL GOLD TRUS PHYS 4.82 28486100 BBG000Q83F79 828085
VANGUARD SMALL-CAP ETF VB 3.94 23246200 BBG000HT3Z79 81660
INVESCO OPTIMUM YIELD DIVERS PDBC 3.90 23043600 N/A 1251010
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.90 23050000 BBG000NXKWH0 242836
SCHWAB U.S. TIPS ETF SCHP 2.89 17092800 BBG000BGN6P5 642344
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.18 12877400 N/A 375105
ISHARES MSCI EMR MRK EX CHNA EMXC 2.05 12087800 BBG00H5VLMJ6 128225
Franklin FTSE Japan ETF FLJP 2.02 11903100 BBG00J3MDY16 304896
Franklin FTSE Europe ETF FLEE 1.99 11738900 BBG00J3PR1S7 302588
NVIDIA CORP NVDA 1.78 10521200 BBG000BBJQV0 47081
BHP GROUP LTD BHP 1.39 8189240 BBG000BD5NZ4 98016
APPLE INC AAPL 1.37 8117530 BBG000B9XRY4 26857
MICROSOFT CORP MSFT 1.03 6110240 BBG000BPH459 14543
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5779510 BBG01922X0X9 115706
AMAZON.COM INC AMZN 0.90 5334390 BBG000BVPV84 20129
NEWMONT GOLDCORP CORPORATION COM NEM 0.87 5110370 BBG000BPWXK1 47587
RIO TINTO PLC-SPON ADR RIO 0.81 4787080 BBG000FD28T3 46337
Simplify DBi CTA Managed Futures Index ETF SDMF 0.80 4716140 BBG020BR8WR7 182620
MICRON TECHNOLOGY INC MU 0.72 4252130 BBG000C5Z1S3 5809
AGNICO EAGLE MINES LTD AEM 0.72 4277020 BBG000DLVDK3 24008
FREEPORT-MCMORAN INC FCX 0.66 3914610 BBG000BJDB15 64311
ALPHABET INC-CL A GOOGL 0.66 3882100 BBG009S39JX6 9982
Tesla Inc. TSLA 0.64 3807080 BBG000N9MNX3 9124
ADVANCED MICRO DEVICES INC AMD 0.61 3597200 BBG000BBQCY0 8037
META PLATFORMS INC META 0.61 3623100 BBG000MM2P62 5988
Broadcom Inc. AVGO 0.61 3598580 BBG00KHY5S69 8614
ALPHABET INC-CL C GOOG 0.61 3594970 BBG009S3NB30 9340
WAL-MART STORES INC WMT 0.54 3172980 BBG000BWXBC2 24249
Barrick Mining Corp. B 0.54 3166550 N/A 77346
GLENCORE PLC -UNSP ADR GLNCY 0.54 3195140 BBG001VKX1Z1 210345
INTEL CORP INTC 0.52 3070600 BBG000C0G1D1 25812
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.44 2618480 BBG000PVRDL2 20592
COSTCO WHOLESALE CORP COST 0.41 2401490 BBG000F6H8W8 2236
CISCO SYSTEMS INC CSCO 0.38 2267670 BBG000C3J3C9 19831
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.37 2177150 N/A 85178
FRANCO-NEVADA CORP FNV 0.34 2035940 BBG000RD3CL8 9041
NETFLIX INC NFLX 0.32 1880990 BBG000CL9VN6 21353
CHEVRON CORP CVX 0.32 1897800 BBG000K4ND22 9919
LAM RESH CORP LRCX 0.31 1803360 BBG000BNFLM9 6174
VALE SA-SP ADR VALE 0.30 1745430 BBG000BN5LG7 106754
APPLIED MATERIALS INC AMAT 0.29 1689510 BBG000BBPFB9 3963
AUTOMATIC DATA PROCESSING ADP 0.28 1660030 BBG000JG0547 7522
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.27 1601640 BBG000N7QR55 11678
REALTY INCOME CORP O 0.24 1390820 BBG000DHPN63 22346
TEXAS INSTRUMENTS INC TXN 0.23 1365860 BBG000BVV7G1 4480
KLA CORPORATION KLAC 0.22 1273310 BBG000BMTFR4 696
SCHLUMBERGER LTD SLB 0.20 1168400 BBG000BT41Q8 20398
WILLIAMS COMPANIES INC. WMB 0.20 1182220 BBG000BWVCP8 15180
FRANKLIN RESOURCES INC BEN 0.20 1200790 BBG000BD0TF8 38487
LINDE PLC LIN 0.20 1200710 BBG01FND0CC1 2370
MARATHON PETROLEUM CORP MPC 0.20 1205810 BBG001DCCGR8 4667
T ROWE PRICE GROUP INC TROW 0.20 1161370 BBG000BVMPN3 11405
EXXON MOBIL CORP XOM 0.20 1161940 BBG000GZQ728 7435
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1164450 N/A 30571
CANADIAN NATURAL RESOURCES CNQ 0.20 1182820 BBG000HW5GX3 24248
Kimberly-Clark Corp KMB 0.20 1156650 BBG000BMW2Z0 11857
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.20 1153920 BBG000BRK7L6 17012
MEDTRONIC PLC MDT 0.19 1123410 BBG000BNWG87 14375
PPG INDUSTRIES INC PPG 0.19 1095050 BBG000BRJ809 10490
CLOROX COMPANY CLX 0.19 1130650 BBG000BFS7D3 11995
EVERSOURCE ENERGY ES 0.19 1141530 BBG000BQ87N0 16532
STANLEY BLACK & DECKER INC SWK 0.19 1106330 BBG000BTQR96 14755
ILLINOIS TOOL WORKS ITW 0.19 1127460 BBG000BMBL90 4496
OCCIDENTAL PETROLEUM CORP OXY 0.19 1125480 BBG000BQQ2S6 19118
KENVUE INC KVUE 0.19 1149180 BBG01C79X561 66350
HORMEL FOODS CORP HRL 0.19 1127230 BBG000BLF8D2 54298
EQT CORP EQT 0.19 1107160 BBG000BHZ5J9 19145
PALO ALTO NETWORKS INC PANW 0.18 1052000 BBG0014GJCT9 4265
ABBVIE INC ABBV 0.18 1084000 BBG0025Y4RY4 5106
T-MOBILE US INC TMUS 0.18 1076310 BBG000NDV1D4 5660
Cheniere Energy Inc LNG 0.17 1025560 BBG000C3HSR0 4209
SANDISK CORP/DE SNDKV SNDK 0.17 1006820 BBG01R388JG1 723
PEPSICO INC PEP 0.17 1021140 BBG000DH7JK6 6840
QUALCOMM INC QCOM 0.16 954430 BBG000CGC1X8 4713
ANALOG DEVICES INC ADI 0.16 963679 BBG000BB6G37 2421
AMGEN INC AMGN 0.15 878329 BBG000BBS2Y0 2649
GENUINE PARTS CO GPC 0.15 860428 BBG000BKL348 9060
AO Smith Corp AOS 0.15 912945 BBG000BC1L02 16107
J M Smucker Co COM STK NPV SJM 0.14 845640 BBG000BT1715 8416
GILEAD SCIENCES INC GILD 0.14 813284 BBG000CKGBP2 6223
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 826177 BBG0113JGQF0 1100
International Business Machines Corporation IBM 0.14 809100 BBG000BLNNH6 3596
Crowdstrike Holdings Inc. Class A CRWD 0.14 851644 BBG00BLYKS03 1310
INTUITIVE SURGICAL INC ISRG 0.14 809152 BBG000BJPDZ1 1802
WELLTOWER INC WELL 0.13 759888 BBG000BKY1G5 3476
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 792406 BBG00ZXBJ153 4242
APPLOVIN CORP APP 0.13 774059 BBG006HFPX77 1605
WESTERN DIGITAL CORP WDC 0.13 751019 BBG000BWNFZ9 1634
PROLOGIS INC PLD 0.12 709511 BBG000B9Z0J8 4904
HONEYWELL INTERNATIONAL INC HON 0.12 698691 BBG000H556T9 3214
BOOKING HOLDINGS INC BKNG 0.11 659347 BBG000BLBVN4 4201
STARBUCKS CORP SBUX 0.11 622386 BBG000CTQBF3 5844
ASML HOLDING NV-NY REG SHS ASML 0.11 668106 BBG000K6MRN4 431
SHOPIFY INC - CLASS A SHOP 0.11 665973 BBG008HBD923 6342
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 611359 BBG000BBTJZ1 2753
ADOBE SYSTEMS INC ADBE 0.09 531824 BBG000BB5006 2099
VERTEX PHARMACEUTICALS INC VRTX 0.09 547520 BBG000C1S2X2 1272
INTUIT INC INTU 0.09 555931 BBG000BH5DV1 1448
CADENCE DESIGN SYS INC CDNS 0.09 502124 BBG000C13CD9 1431
EQUINIX INC EQIX 0.09 513359 BBG000MBDGM6 482
COMCAST CORP-CLASS A CMCSA 0.08 454383 BBG000BFT2L4 18263
CONSTELLATION ENERGY CORPORATION CEG 0.08 495018 BBG014KFRNP7 1760
Marriott International, Inc Class A MAR 0.08 489179 BBG000BGD7W6 1323
FORTINET INC FTNT 0.08 497380 BBG000BCMBG4 3826
SYNOPSYS INC SNPS 0.08 485459 BBG000BSFRF3 973
FASTENAL CO FAST 0.08 483013 BBG000BJ8YN7 11058
NXP Semiconductors NV NXPI 0.07 405366 BBG000BND699 1307
DIGITAL REALTY TRUST INC DLR 0.07 386448 BBG000Q5ZRM7 2027
MONSTER BEVERAGE CORP MNST 0.07 436051 BBG008NVB1C0 5019
MERCADOLIBRE INC MELI 0.07 417754 BBG000GQPB11 253
CSX CORP CSX 0.07 436154 BBG000BGJRC8 9494
SIMON PROPERTY GROUP INC SPG 0.07 407180 BBG000BJ2D31 1995
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 395962 BBG000D4LWF6 6403
Baker Hughes Company BKR 0.06 327939 BBG00GBVBK51 4910
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 375891 BBG000C30L48 242
REGENERON PHARMACEUTICALS REGN 0.06 332027 BBG000C734W3 511
DOORDASH INC CLASS A DASH 0.06 332229 BBG005D7QCJ3 2067
ROSS STORES INC ROST 0.06 359571 BBG000BSBZH7 1651
CINTAS CORP CTAS 0.06 346490 BBG000H3YXF8 2022
OREILLY AUTOMOTIVE INC ORLY 0.06 369618 BBG000BGYWY6 4008
Datadog Inc. Class A DDOG 0.06 369298 BBG003NJHZT9 1740
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 327723 BBG00LBLDDR2 3339
AMERICAN ELECTRIC POWER AEP 0.06 355166 BBG000BB9KF2 2756
PUBLIC STORAGE PSA 0.06 349512 BBG000BPPN67 1154
Warner Bros Discovery Inc WBD 0.06 344806 BBG011386VF4 12575
AIRBNB INC ABNB 0.05 288722 BBG001Y2XS07 2130
AUTODESK INC ADSK 0.05 268480 BBG000BM7HL0 1102
DIAMONDBACK ENERGY INC FANG 0.05 284632 BBG002PHSYX9 1393
CONSOLIDATED EDISON INC ED 0.05 289986 BBG000BHLYS1 2728
PACCAR INC PCAR 0.05 291939 BBG000BQVTF5 2615
Ventas Inc. VTR 0.05 292203 BBG000FRVHB9 3298
Old Dominion Freight Line Inc. ODFL 0.04 217804 BBG000CHSS88 1038
IDEXX LABS IDXX 0.04 226414 BBG000BLRT07 409
AIR PRODUCTS & CHEMICALS INC APD 0.04 224122 BBG000BC4JJ4 775
EXELON CORP EXC 0.04 236420 BBG000J6XT05 5269
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 231178 BBG000BS1YV5 977
VICI PROPERTIES INC REIT VICI 0.04 228904 BBG00HVVB499 8060
FERROVIAL SE FER 0.04 243552 BBG01H7CZ9S9 3613
EXTRA SPACE STORAGE INC EXR 0.04 232152 BBG000PV27K3 1632
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 262988 BBG00CMNZNK7 262988
MCDONALDS CORP MCD 0.04 221133 BBG000BNSZP1 789
AVALONBAY COMMUNITIES INC AVB 0.04 234483 BBG000BLPBL5 1256
MICROSTRATEGY INC-CL A MSTR 0.04 250207 BBG000GQJPZ0 1509
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 215570 BBG00B6BFWH9 2311
ELECTRONIC ARTS INC EA 0.04 258237 BBG000BP0KQ8 1281
XCEL ENERGY INC XEL 0.04 242056 BBG000BCTQ65 3031
PAYPAL HOLDINGS INC PYPL 0.04 209628 BBG0077VNXV6 4724
MICROCHIP TECHNOLOGY INC MCHP 0.04 253760 BBG000BHCP19 2699
AXON ENTERPRISE INC AXON 0.03 167345 BBG000BHJWG1 420
IRON MOUNTAIN INC IRM 0.03 175128 BBG000KCZPC3 1392
EQUITY RESIDENTIAL EQR 0.03 175178 BBG000BG8M31 2643
Zscaler Inc. ZS 0.03 154214 BBG003338H34 884
KEURIG DR PEPPER INC KDP 0.03 192280 BBG000TJM7F0 6702
COPART INC CPRT 0.03 166588 BBG000BM9RH1 5042
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 194310 BBG000BFGNJ5 651
THOMSON REUTERS CORP TRI 0.03 182983 N/A 2143.67
PAYCHEX INC PAYX 0.03 181962 BBG000BQSQ38 1917
ROPER TECHNOLOGIES INC ROP 0.03 166730 BBG000F1ZSN5 516
Omega Healthcare Investors Inc OHI 0.02 120662 BBG000BGBTC2 2463
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 129943 BBG000BBDV81 2533
ESSEX PROPERTY TRUST INC ESS 0.02 120738 BBG000CGJMB9 439
MID-AMERICA APARTMENT COMM MAA 0.02 117625 BBG000BLMY92 903
CHARTER COMMUNICATIONS INC-A CHTR 0.02 92550.4 BBG000VPGNR2 640
VERISK ANALYTICS INC VRSK 0.02 121681 BBG000BCZL41 713
KIMCO REALTY CORP KIM 0.02 116859 BBG000CN3S73 4908
INVITATION HOMES INC REIT USD.01 INVH 0.02 115309 BBG00FQH6BS9 3953
WORKDAY INC-CLASS A WDAY 0.02 138765 BBG000VC0T95 1096
DEXCOM INC DXCM 0.02 140094 BBG000QTF8K1 1961
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 142336 BBG01BFR8YV1 2215
W. P. CAREY REIT INC WPC 0.02 118966 BBG000BCQM58 1586
INSMED INC INSM 0.02 114277 BBG000BWM5P3 1059
Sun Communities Inc SUI 0.02 110814 BBG000BLJWF3 901
KRAFT HEINZ CO/THE KHC 0.02 138356 BBG005CPNTQ2 5880
Cash & Other Cash&Other -0.01 -31643.9 N/A -31643.9

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.