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 07/30/2026
TICKER RAA
NET ASSETS $608M
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 $29.43
30 DAY MEDIAN BID-ASK SPREAD 0.000681

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 07/30/2026

NET ASSET VALUE

$29.43

CLOSING PRICE

$29.44

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 10
Discount 13 16 8 14 5

Asset Allocation

As of 7/30/2026

Equities

39.58%
Nasdaq
15.04%
US Large Cap
9.94%
Dividend Payers
4.05%
Emerging Ex. China
3.57%
US Small Cap
2.93%
Europe
2.05%
Japan
2.00%

Fixed Income

26.72%
High Yield
5.99%
Corporate Bonds
5.93%
Long Term Treasuries
5.80%
Emerging Mkt Bonds
3.94%
TIPS
2.97%
T-Bills
2.09%

Alternatives

33.70%
Commodities
7.71%
Managed Futures
7.05%
Miners
6.18%
Energy
4.41%
Gold
4.11%
Bitcoin
2.21%
Real Estate
2.03%

Holdings

As of 07/30/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.94 60418300 BBG00RYR67P4 1277340
INVESCO OPTIMUM YIELD DIVERS PDBC 7.71 46873900 N/A 2678510
SCHWAB HIGH YIELD BOND ETF SCYB 5.99 36421200 BBG01F80WX71 1401360
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 36069400 BBG000PWYVH7 443222
iM DBi Managed Futures Strategy ETF DBMF 5.84 35489700 N/A 1150770
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.80 35242700 BBG00PZFJPC3 1169690
SPROTT PHYSICAL GOLD TRUS PHYS 4.11 24985800 BBG000Q83F79 803661
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.94 23921000 BBG000NXKWH0 252358
ISHARES MSCI EMR MRK EX CHNA EMXC 3.57 21711600 BBG00H5VLMJ6 238118
SCHWAB U.S. TIPS ETF SCHP 2.97 18025200 BBG000BGN6P5 690090
VANGUARD SMALL-CAP ETF VB 2.93 17803600 BBG000HT3Z79 60188
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.21 13433100 N/A 469196
Franklin FTSE Europe ETF FLEE 2.05 12438500 BBG00J3PR1S7 314010
Franklin FTSE Japan ETF FLJP 2.00 12156700 BBG00J3MDY16 305676
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 12133300 BBG01922X0X9 243347
BHP GROUP LTD BHP 1.29 7821880 BBG000BD5NZ4 91058
APPLE INC AAPL 1.21 7378470 BBG000B9XRY4 22129
Simplify DBi CTA Managed Futures Index ETF SDMF 1.21 7351430 BBG020BR8WR7 286876
NVIDIA CORP NVDA 1.18 7164010 BBG000BBJQV0 36731
MICROSOFT CORP MSFT 0.84 5129010 BBG000BPH459 11370
NEWMONT GOLDCORP CORPORATION COM NEM 0.70 4230770 BBG000BPWXK1 44181
RIO TINTO PLC-SPON ADR RIO 0.70 4237630 BBG000FD28T3 43606
MICRON TECHNOLOGY INC MU 0.69 4169500 BBG000C5Z1S3 4767
AMAZON.COM INC AMZN 0.65 3928140 BBG000BVPV84 16680
CHEVRON CORP CVX 0.59 3576000 BBG000K4ND22 18595
FREEPORT-MCMORAN INC FCX 0.54 3296790 BBG000BJDB15 51967
ADVANCED MICRO DEVICES INC AMD 0.52 3153090 BBG000BBQCY0 6496
GLENCORE PLC -UNSP ADR GLNCY 0.50 3058840 BBG001VKX1Z1 210085
AGNICO EAGLE MINES LTD AEM 0.50 3046810 BBG000DLVDK3 20211
Suncor Energy Inc. SU 0.49 2988700 BBG000BC1LY5 44788
ALPHABET INC-CL A GOOGL 0.49 2965900 BBG009S39JX6 8889
MARATHON PETROLEUM CORP MPC 0.48 2928170 BBG001DCCGR8 9323
CANADIAN NATURAL RESOURCES CNQ 0.47 2885400 BBG000HW5GX3 61028
Broadcom Inc. AVGO 0.46 2804080 BBG00KHY5S69 7230
ALPHABET INC-CL C GOOG 0.46 2786230 BBG009S3NB30 8350
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.46 2791870 BBG023CY9MM1 17786
OCCIDENTAL PETROLEUM CORP OXY 0.45 2748770 BBG000BQQ2S6 49129
Cheniere Energy Inc LNG 0.42 2571570 BBG000C3HSR0 9965
SCHLUMBERGER LTD SLB 0.42 2554130 BBG000BT41Q8 52221
META PLATFORMS INC META 0.41 2477920 BBG000MM2P62 4597
EQT CORP EQT 0.39 2386870 BBG000BHZ5J9 45283
Tesla Inc. TSLA 0.39 2354980 BBG000N9MNX3 7625
Barrick Mining Corp ABX 0.39 2378950 N/A 63102
WAL-MART STORES INC WMT 0.38 2328990 BBG000BWXBC2 20963
WILLIAMS COMPANIES INC. WMB 0.37 2278910 BBG000BWVCP8 32138
NUCOR CORP NUE 0.36 2163760 BBG000BQ8KV2 8418
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.34 2085970 N/A 81388
CISCO SYSTEMS INC CSCO 0.31 1903040 BBG000C3J3C9 16758
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1914080 BBG000PVRDL2 16882
REALTY INCOME CORP O 0.31 1889420 BBG000DHPN63 29449
AUTOMATIC DATA PROCESSING ADP 0.31 1886410 BBG000JG0547 7149
INTEL CORP INTC 0.30 1831620 BBG000C0G1D1 20099
COSTCO WHOLESALE CORP COST 0.30 1817690 BBG000F6H8W8 1905
FRANCO-NEVADA CORP FNV 0.28 1686980 BBG000TRN6Z1 7621
VALE SA-SP ADR VALE 0.27 1630570 BBG000BN5LG7 108777
APPLIED MATERIALS INC AMAT 0.26 1600650 BBG000BBPFB9 3190
WELLTOWER INC WELL 0.26 1594510 BBG000BKY1G5 6767
LAM RESH CORP LRCX 0.25 1523730 BBG000BNFLM9 5118
PROLOGIS INC PLD 0.25 1548880 BBG000B9Z0J8 10595
MEDTRONIC PLC MDT 0.22 1316420 BBG000BNWG87 15359
NETFLIX INC NFLX 0.22 1338790 BBG000CL9VN6 18297
ILLINOIS TOOL WORKS ITW 0.21 1282890 BBG000BMBL90 4522
T ROWE PRICE GROUP INC TROW 0.21 1261510 BBG000BVMPN3 10576
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1266100 N/A 28042
KENVUE INC KVUE 0.20 1229350 BBG01C79X561 63664
Kimberly-Clark Corp KMB 0.20 1218590 BBG000BMW2Z0 11059
HORMEL FOODS CORP HRL 0.20 1218420 BBG000BLF8D2 48026
FRANKLIN RESOURCES INC BEN 0.20 1195120 BBG000BD0TF8 36030
CLOROX COMPANY CLX 0.20 1240270 BBG000BFS7D3 12822
STANLEY BLACK & DECKER INC SWK 0.20 1227240 BBG000BTQR96 12844
EQUINIX INC EQIX 0.19 1173230 BBG000MBDGM6 1120
EVERSOURCE ENERGY ES 0.19 1184170 BBG000BQ87N0 16037
PALO ALTO NETWORKS INC PANW 0.19 1154210 BBG0014GJCT9 3544
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.19 1166480 BBG000N7QR55 9541
GENUINE PARTS CO GPC 0.18 1099000 BBG000BKL348 8804
TEXAS INSTRUMENTS INC TXN 0.17 1036700 BBG000BVV7G1 3738
ABBVIE INC ABBV 0.17 1026810 BBG0025Y4RY4 3989
AO Smith Corp AOS 0.16 980093 BBG000BC1L02 16486
PPG INDUSTRIES INC PPG 0.16 943517 BBG000BRJ809 8422
J M Smucker Co COM STK NPV SJM 0.16 949572 BBG000BT1715 7770
LINDE PLC LIN 0.16 983710 BBG01FND0CC1 1934
KLA CORPORATION KLAC 0.16 944929 BBG000BMTFR4 5240
AMGEN INC AMGN 0.15 890021 BBG000BBS2Y0 2296
PEPSICO INC PEP 0.14 837134 BBG000DH7JK6 5971
WESTERN DIGITAL CORP WDC 0.14 831009 BBG000BWNFZ9 1559
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 867862 BBG0113JGQF0 1019
International Business Machines Corporation IBM 0.14 826203 BBG000BLNNH6 3726
SIMON PROPERTY GROUP INC SPG 0.14 872215 BBG000BJ2D31 3785
DIGITAL REALTY TRUST INC DLR 0.13 799420 BBG000Q5ZRM7 4138
Crowdstrike Holdings Inc. Class A CRWD 0.13 816079 BBG00BLYKS03 4406
T-MOBILE US INC TMUS 0.13 819898 BBG000NDV1D4 4730
PUBLIC STORAGE PSA 0.12 714262 BBG000BPPN67 2250
SANDISK CORP/DE SNDKV SNDK 0.12 733417 BBG01R388JG1 573
ANALOG DEVICES INC ADI 0.12 751674 BBG000BB6G37 2050
Ventas Inc. VTR 0.11 696937 BBG000FRVHB9 7582
QUALCOMM INC QCOM 0.11 680229 BBG000CGC1X8 4487
ERIE INDEMNITY COMPANY-CL A ERIE 0.11 665726 BBG000BBTJZ1 2849
GILEAD SCIENCES INC GILD 0.11 695653 BBG000CKGBP2 5299
BOOKING HOLDINGS INC BKNG 0.11 646001 BBG000BLBVN4 3343
SHOPIFY INC - CLASS A SHOP 0.11 680299 BBG004DW5NB8 5558
ASML HOLDING NV-NY REG SHS ASML 0.11 647364 BBG000K6MRN4 392
INTUITIVE SURGICAL INC ISRG 0.10 594402 BBG000BJPDZ1 1684
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.10 631835 BBG00ZXBJ153 3447
IRON MOUNTAIN INC IRM 0.09 576211 BBG000KCZPC3 4623
VERTEX PHARMACEUTICALS INC VRTX 0.09 570814 BBG000C1S2X2 1185
FASTENAL CO FAST 0.08 456988 BBG000BJ8YN7 9794
Marriott International, Inc Class A MAR 0.08 470476 BBG000BGD7W6 1253
EXTRA SPACE STORAGE INC EXR 0.08 483461 BBG000PV27K3 3262
STARBUCKS CORP SBUX 0.08 515384 BBG000CTQBF3 4869
CSX CORP CSX 0.08 458285 BBG000BGJRC8 9131
FORTINET INC FTNT 0.08 511030 BBG000BCMBG4 3313
APPLOVIN CORP APP 0.08 506453 BBG006HFPX77 1254
VICI PROPERTIES INC REIT VICI 0.08 474843 BBG00HVVB499 18048
CADENCE DESIGN SYS INC CDNS 0.07 420352 BBG000C13CD9 1263
ARM HOLDINGS PLC ARM 0.07 416656 BBG01J1GXZF0 1725
COMCAST CORP-CLASS A CMCSA 0.07 411243 BBG000BFT2L4 17374
EQUITY RESIDENTIAL EQR 0.07 424467 BBG000BG8M31 6324
CONSTELLATION ENERGY CORPORATION CEG 0.07 453587 BBG014KFRNP7 1721
ADOBE SYSTEMS INC ADBE 0.07 448699 BBG000BB5006 1810
MONSTER BEVERAGE CORP MNST 0.07 454170 BBG008NVB1C0 4651
MERCADOLIBRE INC MELI 0.07 435604 BBG000GQPB11 231
AVALONBAY COMMUNITIES INC AVB 0.07 449170 BBG000BLPBL5 2392
CINTAS CORP CTAS 0.07 400139 BBG000H3YXF8 1935
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 355124 BBG022XF4SZ9 1468
PACCAR INC PCAR 0.06 336406 BBG000BQVTF5 2515
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 382643 BBG000D4LWF6 6066
DOORDASH INC CLASS A DASH 0.06 368986 BBG005D7QCJ3 1868
ROSS STORES INC ROST 0.06 365469 BBG000BSBZH7 1447
REGENERON PHARMACEUTICALS REGN 0.06 346281 BBG000C734W3 469
INTUIT INC INTU 0.06 389642 BBG000BH5DV1 1235
SYNOPSYS INC SNPS 0.06 344033 BBG000BSFRF3 924
OREILLY AUTOMOTIVE INC ORLY 0.06 351711 BBG000BGYWY6 4026
Datadog Inc. Class A DDOG 0.06 386458 BBG003NJHZT9 1439
AMERICAN ELECTRIC POWER AEP 0.06 337595 BBG000BB9KF2 2642
Warner Bros Discovery Inc WBD 0.05 304596 BBG011386VF4 11959
HOST HOTELS & RESORTS INC HST 0.05 275012 BBG000BL8804 10961
Baker Hughes Company BKR 0.05 280092 BBG00GBVBK51 4676
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 294824 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 293134 BBG000CGJMB9 1040
NXP Semiconductors NV NXPI 0.05 295663 BBG000BND699 1206
AIRBNB INC ABNB 0.05 298381 BBG001Y2XS07 1962
INVITATION HOMES INC REIT USD.01 INVH 0.05 317736 BBG00FQH6BS9 10709
XCEL ENERGY INC XEL 0.04 230387 BBG000BCTQ65 2945
PAYPAL HOLDINGS INC PYPL 0.04 252565 BBG0077VNXV6 4381
Sun Communities Inc SUI 0.04 255330 BBG000BLJWF3 2052
TERADYNE INC TER 0.04 230990 BBG000BV4DR6 632
EXELON CORP EXC 0.04 229131 BBG000J6XT05 5027
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 215759 BBG000BS1YV5 872
MID-AMERICA APARTMENT COMM MAA 0.04 233043 BBG000BLMY92 1748
KIMCO REALTY CORP KIM 0.04 241758 BBG000CN3S73 9477
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.04 231603 BBG000B9ZXB4 2193
FERROVIAL SA FER 0.04 225438 BBG01H0DF657 3461.88
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 254682 BBG00CMNZNK7 254682
AUTODESK INC ADSK 0.04 237790 BBG000BM7HL0 1012
MCDONALDS CORP MCD 0.04 240791 BBG000BNSZP1 897
DIAMONDBACK ENERGY INC FANG 0.04 265694 BBG002PHSYX9 1330
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 264506 BBG00LBLDDR2 3025
W. P. CAREY REIT INC WPC 0.04 252613 BBG000BCQM58 3410
LUMENTUM HOLDINGS INC LITE 0.04 230156 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 245539 BBG00B6BFWH9 2198
ELECTRONIC ARTS INC EA 0.04 240819 BBG000BP0KQ8 1149
PAYCHEX INC PAYX 0.03 185895 BBG000BQSQ38 1598
MICROCHIP TECHNOLOGY INC MCHP 0.03 193901 BBG000BHCP19 2585
ROPER TECHNOLOGIES INC ROP 0.03 180612 BBG000F1ZSN5 464
ASTERA LABS INC ALAB 0.03 192101 BBG00TDKHW99 641
AXON ENTERPRISE INC AXON 0.03 190684 BBG000BHJWG1 363
Old Dominion Freight Line Inc. ODFL 0.03 205034 BBG000CHSS88 965
IDEXX LABS IDXX 0.03 202844 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 194830 BBG000BC4JJ4 649
KEURIG DR PEPPER INC KDP 0.03 206436 BBG000TJM7F0 6539
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 153798 BBG01BFR8YV1 2199
Nebius Group NV NBIS 0.03 160919 BBG001NVJ6W4 854
CONSOLIDATED EDISON INC ED 0.03 196401 BBG000BHLYS1 1791
ROCKET LAB CORP RKLB 0.03 154779 BBG01V7JN3F3 2393
THOMSON REUTERS CORP TRI 0.03 194596 N/A 1969
KRAFT HEINZ CO/THE KHC 0.02 151131 BBG005CPNTQ2 5729
WORKDAY INC-CLASS A WDAY 0.02 139453 BBG000VC0T95 882
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 127603 BBG000BFGNJ5 621
COPART INC CPRT 0.02 135674 BBG000BM9RH1 4589
DEXCOM INC DXCM 0.02 128656 BBG000QTF8K1 1726
MICROSTRATEGY INC-CL A MSTR 0.02 136250 BBG000GQJPZ0 1394
Cash & Other Cash&Other 0.00 -18017.6 N/A -18017.6
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 107.79 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 148.39 BBG003338H34 1
INSMED INC INSM 0.00 101.49 BBG000BWM5P3 1

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.