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 06/04/2026
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 $30.43
30 DAY MEDIAN BID-ASK SPREAD 0.000664

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 6.72% -3.97% 4.53% 0.68% 7.44% 0.68% 17.36% 11.92%
RAA - Market Price 6.81% -3.98% 4.39% 0.63% 7.28% 0.63% 17.22% 11.89%
S&P 500 Index Total Return 10.49% -4.98% 4.19% -4.33% 5.70% -4.33% 19.15% 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 06/04/2026

NET ASSET VALUE

$30.43

CLOSING PRICE

$30.44

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 30
Discount 5 13 16 8 8

Asset Allocation

As of 6/4/2026

Equities

42.05%
Nasdaq
17.02%
US Large Cap
15.00%
Dividend Payers
3.01%
Emerging Ex. China
2.01%
Japan
2.01%
US Small Cap
2.01%
Europe
0.99%

Fixed Income

19.04%
High Yield
5.96%
Emerging Mkt Bonds
3.98%
Corporate Bonds
3.97%
TIPS
2.97%
T-Bills
1.17%
Long Term Treasuries
0.99%

Alternatives

38.91%
Commodities
10.14%
Managed Futures
10.09%
Energy
5.21%
Gold
4.89%
Miners
4.01%
Bitcoin
2.58%
Real Estate
1.99%

Holdings

As of 06/04/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.00 90609300 BBG00RYR67P4 623730
INVESCO OPTIMUM YIELD DIVERS PDBC 10.14 61231400 N/A 3430330
iM DBi Managed Futures Strategy ETF DBMF 9.08 54881000 N/A 1753950
SCHWAB HIGH YIELD BOND ETF SCYB 5.96 35974100 BBG01F80WX71 1376740
SPROTT PHYSICAL GOLD TRUS PHYS 4.89 29533900 BBG000Q83F79 873525
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 24049000 BBG000NXKWH0 250250
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.97 23978000 BBG000PWYVH7 291101
SCHWAB U.S. TIPS ETF SCHP 2.97 17948600 BBG000BGN6P5 675015
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.58 15596300 N/A 555028
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 12125100 BBG00H5VLMJ6 119248
VANGUARD SMALL-CAP ETF VB 2.01 12130300 BBG000HT3Z79 41064
Franklin FTSE Japan ETF FLJP 2.01 12154500 BBG00J3MDY16 302651
NVIDIA CORP NVDA 1.43 8620670 BBG000BBJQV0 39425
APPLE INC AAPL 1.24 7516520 BBG000B9XRY4 24151
Simplify DBi CTA Managed Futures Index ETF SDMF 1.01 6100860 BBG020BR8WR7 234460
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.00 6037180 BBG01922X0X9 121034
Franklin FTSE Europe ETF FLEE 0.99 5992610 BBG00J3PR1S7 153519
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 0.99 6005820 BBG00PZFJPC3 193736
MICROSOFT CORP MSFT 0.83 5033870 BBG000BPH459 11760
MICRON TECHNOLOGY INC MU 0.80 4826620 BBG000C5Z1S3 4846
BHP GROUP LTD BHP 0.78 4720170 BBG000BD5NZ4 53167
AMAZON.COM INC AMZN 0.74 4479900 BBG000BVPV84 17652
ADVANCED MICRO DEVICES INC AMD 0.64 3895750 BBG000BBQCY0 7446
CHEVRON CORP CVX 0.61 3668300 BBG000K4ND22 19476
ALPHABET INC-CL A GOOGL 0.60 3605030 BBG009S39JX6 9686
Tesla Inc. TSLA 0.57 3445100 BBG000N9MNX3 8233
ALPHABET INC-CL C GOOG 0.55 3338570 BBG009S3NB30 9041
CANADIAN NATURAL RESOURCES CNQ 0.53 3197460 BBG000HW5GX3 67089
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.53 3181710 BBG000BRK7L6 48598
Cheniere Energy Inc LNG 0.53 3215390 BBG000C3HSR0 13338
SCHLUMBERGER LTD SLB 0.53 3185100 BBG000BT41Q8 54906
MARATHON PETROLEUM CORP MPC 0.53 3227030 BBG001DCCGR8 12084
OCCIDENTAL PETROLEUM CORP OXY 0.52 3133040 BBG000BQQ2S6 53401
EXXON MOBIL CORP XOM 0.52 3154830 BBG000GZQ728 20750
Broadcom Inc. AVGO 0.52 3157320 BBG00KHY5S69 7537
META PLATFORMS INC META 0.51 3063800 BBG000MM2P62 4882
EQT CORP EQT 0.50 3025160 BBG000BHZ5J9 54764
WILLIAMS COMPANIES INC. WMB 0.50 3050320 BBG000BWVCP8 42114
NEWMONT GOLDCORP CORPORATION COM NEM 0.48 2909420 BBG000BPWXK1 26857
WAL-MART STORES INC WMT 0.45 2689180 BBG000BWXBC2 22840
RIO TINTO PLC-SPON ADR RIO 0.44 2677160 BBG000FD28T3 25400
INTEL CORP INTC 0.43 2577760 BBG000C0G1D1 23061
CISCO SYSTEMS INC CSCO 0.38 2289820 BBG000C3J3C9 17614
AGNICO EAGLE MINES LTD AEM 0.36 2152640 BBG000DLVDK3 12179
FREEPORT-MCMORAN INC FCX 0.35 2114530 BBG000BJDB15 30342
COSTCO WHOLESALE CORP COST 0.34 2048740 BBG000F6H8W8 2107
GLENCORE PLC -UNSP ADR GLNCY 0.32 1947340 BBG001VKX1Z1 118885
LAM RESH CORP LRCX 0.31 1891970 BBG000BNFLM9 5624
APPLIED MATERIALS INC AMAT 0.30 1798590 BBG000BBPFB9 3585
Barrick Mining Corp. B 0.27 1642320 N/A 38381
NETFLIX INC NFLX 0.26 1566120 BBG000CL9VN6 19202
REALTY INCOME CORP O 0.25 1524940 BBG000DHPN63 25522
WELLTOWER INC WELL 0.24 1461990 BBG000BKY1G5 7279
PROLOGIS INC PLD 0.24 1452710 BBG000B9Z0J8 10103
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1360460 BBG000PVRDL2 10593
AUTOMATIC DATA PROCESSING ADP 0.23 1359870 BBG000JG0547 5879
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.22 1352240 BBG000N7QR55 9543
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1357430 N/A 49111
NUCOR CORP NUE 0.21 1271800 BBG000BQ8KV2 4849
TEXAS INSTRUMENTS INC TXN 0.21 1274310 BBG000BVV7G1 4173
KLA CORPORATION KLAC 0.21 1257350 BBG000BMTFR4 590
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.21 1266040 BBG00ZXBJ153 4001
EQUINIX INC EQIX 0.20 1234010 BBG000MBDGM6 1133
FRANCO-NEVADA CORP FNV 0.19 1121850 BBG000RD3CL8 4754
QUALCOMM INC QCOM 0.19 1124070 BBG000CGC1X8 4634
SANDISK CORP/DE SNDKV SNDK 0.19 1150830 BBG01R388JG1 654
LINDE PLC LIN 0.18 1068690 BBG01FND0CC1 2106
MEDTRONIC PLC MDT 0.16 993565 BBG000BNWG87 12127
PALO ALTO NETWORKS INC PANW 0.16 968998 BBG0014GJCT9 3470
VALE SA-SP ADR VALE 0.16 988669 BBG000BN5LG7 62693
ANALOG DEVICES INC ADI 0.16 962566 BBG000BB6G37 2245
PEPSICO INC PEP 0.15 881298 BBG000DH7JK6 6265
HORMEL FOODS CORP HRL 0.15 897620 BBG000BLF8D2 38541
CLOROX COMPANY CLX 0.15 880794 BBG000BFS7D3 9827
FRANKLIN RESOURCES INC BEN 0.15 926107 BBG000BD0TF8 28968
EVERSOURCE ENERGY ES 0.15 885170 BBG000BQ87N0 12667
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 905618 BBG0113JGQF0 978
STANLEY BLACK & DECKER INC SWK 0.15 898265 BBG000BTQR96 11326
ILLINOIS TOOL WORKS ITW 0.15 915584 BBG000BMBL90 3646
T ROWE PRICE GROUP INC TROW 0.15 921674 BBG000BVMPN3 8617
T-MOBILE US INC TMUS 0.15 892004 BBG000NDV1D4 5039
WESTERN DIGITAL CORP WDC 0.14 873381 BBG000BWNFZ9 1518
KENVUE INC KVUE 0.14 875025 BBG01C79X561 51838
Kimberly-Clark Corp KMB 0.14 851384 BBG000BMW2Z0 9136
AMGEN INC AMGN 0.14 847066 BBG000BBS2Y0 2451
International Business Machines Corporation IBM 0.14 818098 BBG000BLNNH6 2711
SIMON PROPERTY GROUP INC SPG 0.14 847564 BBG000BJ2D31 4110
AMCOR PLC COMMON STOCK USD.01 AMCR 0.14 873399 N/A 23204
Cash & Other Cash&Other 0.13 791459 N/A 791459
GENUINE PARTS CO GPC 0.13 762685 BBG000BKL348 7817
AO Smith Corp AOS 0.13 770319 BBG000BC1L02 13512
DIGITAL REALTY TRUST INC DLR 0.13 779520 BBG000Q5ZRM7 4131
ABBVIE INC ABBV 0.13 789314 BBG0025Y4RY4 3509
APPLOVIN CORP APP 0.13 764534 BBG006HFPX77 1368
Crowdstrike Holdings Inc. Class A CRWD 0.13 757921 BBG00BLYKS03 1054
PUBLIC STORAGE PSA 0.12 722798 BBG000BPPN67 2357
PPG INDUSTRIES INC PPG 0.12 750804 BBG000BRJ809 6706
GILEAD SCIENCES INC GILD 0.12 730384 BBG000CKGBP2 5654
INTUITIVE SURGICAL INC ISRG 0.11 670950 BBG000BJPDZ1 1602
J M Smucker Co COM STK NPV SJM 0.11 643730 BBG000BT1715 6366
ASML HOLDING NV-NY REG SHS ASML 0.11 688928 BBG000K6MRN4 392
Ventas Inc. VTR 0.10 623941 BBG000FRVHB9 7888
HONEYWELL INTERNATIONAL INC HON 0.10 618098 BBG000H556T9 2840
SHOPIFY INC - CLASS A SHOP 0.10 616404 BBG008HBD923 5312
IRON MOUNTAIN INC IRM 0.10 621553 BBG000KCZPC3 4772
BOOKING HOLDINGS INC BKNG 0.10 596941 BBG000BLBVN4 3573
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 513873 BBG000BBTJZ1 2341
CADENCE DESIGN SYS INC CDNS 0.08 503073 BBG000C13CD9 1222
VERTEX PHARMACEUTICALS INC VRTX 0.08 505351 BBG000C1S2X2 1144
Marriott International, Inc Class A MAR 0.08 466984 BBG000BGD7W6 1212
STARBUCKS CORP SBUX 0.08 500542 BBG000CTQBF3 5317
VICI PROPERTIES INC REIT VICI 0.08 467658 BBG00HVVB499 17187
EXTRA SPACE STORAGE INC EXR 0.08 485893 BBG000PV27K3 3331
FORTINET INC FTNT 0.08 473556 BBG000BCMBG4 3164
FASTENAL CO FAST 0.07 440616 BBG000BJ8YN7 9343
EQUITY RESIDENTIAL EQR 0.07 439449 BBG000BG8M31 6472
ADOBE SYSTEMS INC ADBE 0.07 446550 BBG000BB5006 1728
CONSTELLATION ENERGY CORPORATION CEG 0.07 433663 BBG014KFRNP7 1639
MONSTER BEVERAGE CORP MNST 0.07 393649 BBG008NVB1C0 4446
CSX CORP CSX 0.07 401970 BBG000BGJRC8 8695
SYNOPSYS INC SNPS 0.07 436626 BBG000BSFRF3 883
AVALONBAY COMMUNITIES INC AVB 0.07 437029 BBG000BLPBL5 2310
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 352461 BBG000D4LWF6 5779
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 370182 BBG000C30L48 224
COMCAST CORP-CLASS A CMCSA 0.06 385598 BBG000BFT2L4 16528
NXP Semiconductors NV NXPI 0.06 375386 BBG000BND699 1165
MERCADOLIBRE INC MELI 0.06 377634 BBG000GQPB11 231
INTUIT INC INTU 0.06 360564 BBG000BH5DV1 1194
CINTAS CORP CTAS 0.06 333466 BBG000H3YXF8 1853
OREILLY AUTOMOTIVE INC ORLY 0.06 341401 BBG000BGYWY6 3862
Datadog Inc. Class A DDOG 0.06 340553 BBG003NJHZT9 1398
LUMENTUM HOLDINGS INC LITE 0.05 313767 BBG0073F9RT7 332
PACCAR INC PCAR 0.05 282411 BBG000BQVTF5 2392
Warner Bros Discovery Inc WBD 0.05 307395 BBG011386VF4 11385
Baker Hughes Company BKR 0.05 295578 BBG00GBVBK51 4471
ESSEX PROPERTY TRUST INC ESS 0.05 312502 BBG000CGJMB9 1098
REGENERON PHARMACEUTICALS REGN 0.05 294874 BBG000C734W3 469
DOORDASH INC CLASS A DASH 0.05 285885 BBG005D7QCJ3 1786
ROSS STORES INC ROST 0.05 327682 BBG000BSBZH7 1406
INVITATION HOMES INC REIT USD.01 INVH 0.05 301197 BBG00FQH6BS9 10217
AMERICAN ELECTRIC POWER AEP 0.05 321903 BBG000BB9KF2 2519
XCEL ENERGY INC XEL 0.04 219467 BBG000BCTQ65 2822
Sun Communities Inc SUI 0.04 241699 BBG000BLJWF3 1970
MICROCHIP TECHNOLOGY INC MCHP 0.04 237091 BBG000BHCP19 2462
HOST HOTELS & RESORTS INC HST 0.04 254965 BBG000BL8804 10428
Old Dominion Freight Line Inc. ODFL 0.04 226860 BBG000CHSS88 924
ARM HOLDINGS PLC ARM 0.04 243146 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 213376 BBG000J6XT05 4781
AIRBNB INC ABNB 0.04 251394 BBG001Y2XS07 1880
MID-AMERICA APARTMENT COMM MAA 0.04 253894 BBG000BLMY92 1855
KIMCO REALTY CORP KIM 0.04 237524 BBG000CN3S73 10001
FERROVIAL SE FER 0.04 216859 BBG01H7CZ9S9 3263
AUTODESK INC ADSK 0.04 226864 BBG000BM7HL0 971
DIAMONDBACK ENERGY INC FANG 0.04 261590 BBG002PHSYX9 1289
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 249224 BBG00LBLDDR2 2902
W. P. CAREY REIT INC WPC 0.04 240139 BBG000BCQM58 3246
ELECTRONIC ARTS INC EA 0.04 225367 BBG000BP0KQ8 1108
PAYCHEX INC PAYX 0.03 154890 BBG000BQSQ38 1557
PAYPAL HOLDINGS INC PYPL 0.03 178524 BBG0077VNXV6 4176
ROPER TECHNOLOGIES INC ROP 0.03 153955 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 186292 BBG000BHJWG1 363
IDEXX LABS IDXX 0.03 205001 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 183570 BBG000BC4JJ4 649
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 180036 BBG000BS1YV5 831
KEURIG DR PEPPER INC KDP 0.03 187935 BBG000TJM7F0 6252
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 191637 BBG000B9ZXB4 2111
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 188560 BBG000BFGNJ5 621
MCDONALDS CORP MCD 0.03 176177 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 177873 BBG000BHLYS1 1709
MICROSTRATEGY INC-CL A MSTR 0.03 175038 BBG000GQJPZ0 1353
THOMSON REUTERS CORP TRI 0.03 161848 N/A 1887.67
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 194714 BBG00B6BFWH9 2116
INSMED INC INSM 0.02 100304 BBG000BWM5P3 956
KRAFT HEINZ CO/THE KHC 0.02 121010 BBG005CPNTQ2 5483
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 110965 BBG000BBDV81 2078
VERISK ANALYTICS INC VRSK 0.02 118080 BBG000BCZL41 656
Zscaler Inc. ZS 0.02 122410 BBG003338H34 905
COPART INC CPRT 0.02 134896 BBG000BM9RH1 4384
WORKDAY INC-CLASS A WDAY 0.02 124392 BBG000VC0T95 841
DEXCOM INC DXCM 0.02 119338 BBG000QTF8K1 1644
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 123435 BBG00CMNZNK7 123435
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 135086 BBG01BFR8YV1 2117
CHARTER COMMUNICATIONS INC-A CHTR 0.01 76784.8 BBG000VPGNR2 595

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.