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 11/06/2025
TICKER RAA
NET ASSETS $492M
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 $27.31
30 DAY MEDIAN BID-ASK SPREAD 0.001082

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 N/A N/A N/A N/A
RAA - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
RAA - NAV 3.44% 3.44% 6.54% 6.54% - - 9.50% 9.50%
RAA - Market Price 3.45% 3.45% 6.40% 6.40% - - 9.52% 9.52%
S&P 500 Index Total Return 3.65% 3.65% 8.12% 8.12% - - 13.18% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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 11/06/2025

NET ASSET VALUE

$27.31

CLOSING PRICE

$27.34

PREMIUM/DISCOUNT

0.00%
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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 20
Discount 0 0 5 13 4

Asset Allocation

As of 11/6/2025

Equities

47.63%
Nasdaq
21.64%
US Large Cap
14.93%
Dividend Payers
3.06%
US Small Cap
3.00%
Japan
2.01%
Emerging Ex. China
1.99%
Europe
1.00%

Fixed Income

30.46%
Corporate Bonds
8.11%
Long Term Treasuries
7.08%
High Yield
6.07%
TIPS
4.04%
Emerging Mkt Bonds
4.03%
T-Bills
1.13%

Alternatives

21.91%
Gold
6.03%
Managed Futures
5.00%
Miners
3.99%
Bitcoin
2.87%
Real Estate
1.99%
Energy
1.02%
Commodities
1.01%

Holdings

As of 11/06/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.93 73477400 BBG00RYR67P4 571053
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 8.11 39930500 BBG000PWYVH7 476555
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 7.08 34860400 BBG00PZFJPC3 1075270
Schwab High Yield Bond ETF SCYB 6.07 29899200 BBG01F80WX71 1134690
SPROTT PHYSICAL GOLD TRUS PHYS 6.03 29700500 BBG000Q83F79 984439
iM DBi Managed Futures Strategy ETF DBMF 5.00 24628300 N/A 877389
SCHWAB U.S. TIPS ETF SCHP 4.04 19867100 BBG000BGN6P5 741035
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.03 19850400 BBG000NXKWH0 206840
VANGUARD SMALL-CAP ETF VB 3.00 14745000 BBG000HT3Z79 58893
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.87 14118200 N/A 316126
Franklin FTSE Japan ETF FLJP 2.01 9911630 BBG00J3MDY16 278965
NVIDIA CORP NVDA 2.00 9852570 BBG000BBJQV0 52385
ISHARES MSCI EMR MRK EX CHNA EMXC 1.99 9802260 BBG00H5VLMJ6 137769
APPLE INC AAPL 1.84 9075060 BBG000B9XRY4 33640
MICROSOFT CORP MSFT 1.75 8636620 BBG000BPH459 17374
Broadcom Inc. AVGO 1.25 6169840 BBG00KHY5S69 17351
AMAZON.COM INC AMZN 1.13 5558320 BBG000BVPV84 22870
ISHARES MSCI GLOBAL METALS & PICK 1.03 5075750 BBG002GKR8T5 112196
INVESCO OPTIMUM YIELD DIVERS PDBC 1.01 4984100 N/A 366478
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.01 4950480 BBG01922X0X9 99228
Franklin FTSE Europe ETF FLEE 1.00 4911960 BBG00J3PR1S7 140865
Tesla Inc. TSLA 0.75 3688120 BBG000N9MNX3 8271
ALPHABET INC-CL C GOOG 0.73 3607550 BBG009S3NB30 12643
ALPHABET INC-CL A GOOGL 0.73 3605500 BBG009S39JX6 12662
META PLATFORMS INC META 0.72 3536620 BBG000MM2P62 5714
NETFLIX INC NFLX 0.53 2619680 BBG000CL9VN6 2388
BHP GROUP LTD BHP 0.53 2604220 BBG000BD5NZ4 46830
COSTCO WHOLESALE CORP COST 0.47 2314490 BBG000F6H8W8 2506
ADVANCED MICRO DEVICES INC AMD 0.45 2202290 BBG000BBQCY0 9265
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.44 2164320 BBG000N7QR55 12364
ISHARES MSCI GLOBAL GOLD MIN RING 0.41 2033290 BBG002GKR6T9 33525
NEWMONT GOLDCORP CORPORATION COM NEM 0.35 1742040 BBG000BPWXK1 21108
CISCO SYSTEMS INC CSCO 0.31 1544760 BBG000C3J3C9 21745
AGNICO EAGLE MINES LTD AEM 0.31 1507360 BBG000DLVDK3 9463
MICRON TECHNOLOGY INC MU 0.30 1465490 BBG000C5Z1S3 6149
RIO TINTO PLC-SPON ADR RIO 0.29 1428760 BBG000FD28T3 20626
WELLTOWER INC WELL 0.27 1340420 BBG000BKY1G5 7139
T-MOBILE US INC TMUS 0.27 1324860 BBG000NDV1D4 6591
AUTOMATIC DATA PROCESSING ADP 0.27 1329940 BBG000JG0547 5270
REALTY INCOME CORP O 0.26 1258070 BBG000DHPN63 22334
PROLOGIS INC PLD 0.25 1239380 BBG000B9Z0J8 9995
PEPSICO INC PEP 0.23 1122160 BBG000DH7JK6 7926
LINDE PLC LIN 0.23 1129260 BBG01FND0CC1 2719
QUALCOMM INC QCOM 0.23 1110560 BBG000CGC1X8 6412
INTUITIVE SURGICAL INC ISRG 0.23 1139930 BBG000BJPDZ1 2081
LAM RESH CORP LRCX 0.23 1123170 BBG000BNFLM9 6925
SHOPIFY INC - CLASS A SHOP 0.22 1071130 BBG008HBD923 6864
INTUIT INC INTU 0.22 1066740 BBG000BH5DV1 1632
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.22 1058770 BBG00CMNZNK7 1058770
APPLOVIN CORP APP 0.22 1104780 BBG006HFPX77 1778
Barrick Mining Corp. B 0.22 1075220 N/A 33033
APPLIED MATERIALS INC AMAT 0.21 1031970 BBG000BBPFB9 4419
FREEPORT-MCMORAN INC FCX 0.21 1011510 BBG000BJDB15 26171
FASTENAL CO FAST 0.20 972446 BBG000BJ8YN7 23852
CHEVRON CORP CVX 0.19 938287 BBG000K4ND22 6135
AMGEN INC AMGN 0.19 945192 BBG000BBS2Y0 2995
BOOKING HOLDINGS INC BKNG 0.19 911223 BBG000BLBVN4 186
INTEL CORP INTC 0.18 902362 BBG000C0G1D1 24231
TEXAS INSTRUMENTS INC TXN 0.18 868224 BBG000BVV7G1 5380
GLENCORE PLC -UNSP ADR GLNCY 0.18 877613 BBG001VKX1Z1 93662
GILEAD SCIENCES INC GILD 0.18 865528 BBG000CKGBP2 7014
EQUINIX INC EQIX 0.18 878322 BBG000MBDGM6 1072
KLA CORPORATION KLAC 0.18 890323 BBG000BMTFR4 738
KENVUE INC KVUE 0.17 860463 BBG01C79X561 52276
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.17 828297 BBG000PVRDL2 8603
ADOBE SYSTEMS INC ADBE 0.17 822303 BBG000BB5006 2512
PALO ALTO NETWORKS INC PANW 0.16 793906 BBG0014GJCT9 3756
AMCOR PLC AMCR 0.16 779568 BBG00LNJRQ09 94838
Anglo American PLC NGLOD 0.16 763240 N/A 41368
HONEYWELL INTERNATIONAL INC HON 0.15 748180 BBG000H556T9 3819
SIMON PROPERTY GROUP INC SPG 0.15 724767 BBG000BJ2D31 4010
HORMEL FOODS CORP HRL 0.15 759440 BBG000BLF8D2 34965
ILLINOIS TOOL WORKS ITW 0.15 746336 BBG000BMBL90 3055
TARGET CORP TGT 0.15 714270 BBG000H8TVT2 8012
MEDTRONIC PLC MDT 0.15 736961 BBG000BNWG87 8183
FRANKLIN RESOURCES INC BEN 0.15 760066 BBG000BD0TF8 32691
T ROWE PRICE GROUP INC TROW 0.15 744469 BBG000BVMPN3 7288
EVERSOURCE ENERGY ES 0.15 721266 BBG000BQ87N0 10082
Crowdstrike Holdings Inc. Class A CRWD 0.15 733813 BBG00BLYKS03 1378
STANLEY BLACK & DECKER INC SWK 0.15 732387 BBG000BTQR96 10855
GENUINE PARTS CO GPC 0.14 702669 BBG000BKL348 5620
CLOROX COMPANY CLX 0.14 702936 BBG000BFS7D3 6614
AIR PRODUCTS & CHEMICALS INC APD 0.14 673372 BBG000BC4JJ4 2602
ABBVIE INC ABBV 0.14 694576 BBG0025Y4RY4 3171
ANALOG DEVICES INC ADI 0.14 666503 BBG000BB6G37 2862
FRANCO-NEVADA CORP FNV 0.13 642430 BBG000RD3CL8 3415
CONSTELLATION ENERGY CORPORATION CEG 0.13 631989 BBG014KFRNP7 1799
DIGITAL REALTY TRUST INC DLR 0.13 636531 BBG000Q5ZRM7 3781
International Business Machines Corporation IBM 0.13 647647 BBG000BLNNH6 2073
PUBLIC STORAGE PSA 0.12 580795 BBG000BPPN67 2120
VERTEX PHARMACEUTICALS INC VRTX 0.12 595238 BBG000C1S2X2 1430
COMCAST CORP-CLASS A CMCSA 0.12 601038 BBG000BFT2L4 22008
MERCADOLIBRE INC MELI 0.12 578906 BBG000GQPB11 272
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.11 525085 BBG000BRK7L6 12505
CADENCE DESIGN SYS INC CDNS 0.11 516849 BBG000C13CD9 1593
EQT CORP EQT 0.11 532972 BBG000BHZ5J9 9470
STARBUCKS CORP SBUX 0.11 551285 BBG000CTQBF3 6705
CANADIAN NATURAL RESOURCES CNQ 0.10 489732 BBG000HW5GX3 15552
WILLIAMS COMPANIES INC. WMB 0.10 499327 BBG000BWVCP8 8618
OCCIDENTAL PETROLEUM CORP OXY 0.10 491741 BBG000BQQ2S6 12202
SCHLUMBERGER LTD SLB 0.10 497259 BBG000BT41Q8 13676
EXXON MOBIL CORP XOM 0.10 496014 BBG000GZQ728 4332
Cheniere Energy Inc LNG 0.10 486944 BBG000C3HSR0 2347
MARATHON PETROLEUM CORP MPC 0.10 489123 BBG001DCCGR8 2538
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.10 516467 BBG00LBLDDR2 3777
ASML HOLDING NV-NY REG SHS ASML 0.10 479607 BBG000K6MRN4 466
Ventas Inc. VTR 0.09 450524 BBG000FRVHB9 6011
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 435810 BBG000D4LWF6 7756
Marriott International, Inc Class A MAR 0.09 445045 BBG000BGD7W6 1583
CINTAS CORP CTAS 0.09 428390 BBG000H3YXF8 2317
DOORDASH INC CLASS A DASH 0.09 456377 BBG005D7QCJ3 2323
VICI PROPERTIES INC REIT VICI 0.09 451018 BBG00HVVB499 15145
SYNOPSYS INC SNPS 0.09 429812 BBG000BSFRF3 1085
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.09 449197 BBG00ZXBJ153 4813
OREILLY AUTOMOTIVE INC ORLY 0.09 458375 BBG000BGYWY6 4825
MICROSTRATEGY INC-CL A MSTR 0.08 407272 BBG000GQJPZ0 1717
MONSTER BEVERAGE CORP MNST 0.08 381017 BBG008NVB1C0 5746
IRON MOUNTAIN INC IRM 0.08 395573 BBG000KCZPC3 3922
EXTRA SPACE STORAGE INC EXR 0.08 386234 BBG000PV27K3 2947
PAYPAL HOLDINGS INC PYPL 0.07 362508 BBG0077VNXV6 5471
AMERICAN ELECTRIC POWER AEP 0.07 342812 BBG000BB9KF2 2868
CINCINNATI FINANCIAL CORP CINF 0.07 348581 BBG000BFPK65 2160
REGENERON PHARMACEUTICALS REGN 0.07 333785 BBG000C734W3 516
AVALONBAY COMMUNITIES INC AVB 0.07 348377 BBG000BLPBL5 1988
IDEXX LABS IDXX 0.07 334030 BBG000BLRT07 468
CSX CORP CSX 0.07 366684 BBG000BGJRC8 10429
THOMSON REUTERS CORP COMMON STOCK TRI 0.07 363684 N/A 2617
AUTODESK INC ADSK 0.07 363857 BBG000BM7HL0 1234
FORTINET INC FTNT 0.07 344953 BBG000BCMBG4 4283
Datadog Inc. Class A DDOG 0.07 345003 BBG003NJHZT9 1808
ROPER TECHNOLOGIES INC ROP 0.06 283578 BBG000F1ZSN5 638
PACCAR INC PCAR 0.06 293562 BBG000BQVTF5 2987
Warner Bros Discovery Inc WBD 0.06 306100 BBG011386VF4 13653
EQUITY RESIDENTIAL EQR 0.06 289978 BBG000BG8M31 4940
Zscaler Inc. ZS 0.06 280405 BBG003338H34 882
AIRBNB INC ABNB 0.06 291924 BBG001Y2XS07 2422
NXP Semiconductors NV NXPI 0.06 317107 BBG000BND699 1536
J M Smucker Co COM STK NPV SJM 0.06 292832 BBG000BT1715 2791
WORKDAY INC-CLASS A WDAY 0.06 283992 BBG000VC0T95 1265
ROSS STORES INC ROST 0.06 298989 BBG000BSBZH7 1866
ASTRAZENECA PLC-SPONS ADR AZN 0.06 277949 BBG000BZ0DK8 3318
ELECTRONIC ARTS INC EA 0.06 284540 BBG000BP0KQ8 1420
XCEL ENERGY INC XEL 0.05 258936 BBG000BCTQ65 3215
PAYCHEX INC PAYX 0.05 239459 BBG000BQSQ38 2143
EXELON CORP EXC 0.05 265438 BBG000J6XT05 5807
Baker Hughes Company BKR 0.05 255413 BBG00GBVBK51 5401
AXON ENTERPRISE INC AXON 0.05 259516 BBG000BHJWG1 442
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 261739 BBG000BS1YV5 1037
COPART INC CPRT 0.05 226327 BBG000BM9RH1 5661
INVITATION HOMES INC REIT USD.01 INVH 0.05 243059 BBG00FQH6BS9 8740
DIAMONDBACK ENERGY INC FANG 0.05 227203 BBG002PHSYX9 1614
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 229067 BBG00B6BFWH9 2579
Sun Communities Inc SUI 0.04 200831 BBG000BLJWF3 1617
MICROCHIP TECHNOLOGY INC MCHP 0.04 188080 BBG000BHCP19 3169
REGENCY CENTERS CORP REG 0.04 196539 BBG000BL46Q4 2860
ESSEX PROPERTY TRUST INC ESS 0.04 203727 BBG000CGJMB9 795
VERISK ANALYTICS INC VRSK 0.04 181791 BBG000BCZL41 854
MID-AMERICA APARTMENT COMM MAA 0.04 195769 BBG000BLMY92 1541
COSTAR GROUP INC CSGP 0.04 179649 BBG000D7JKW9 2667
KIMCO REALTY CORP KIM 0.04 191592 BBG000CN3S73 9466
CHARTER COMMUNICATIONS INC-A CHTR 0.04 175377 BBG000VPGNR2 805
CONSOLIDATED EDISON INC ED 0.04 210565 BBG000BHLYS1 2171
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 187464 BBG000BBDV81 2574
KEURIG DR PEPPER INC KDP 0.04 208191 BBG000TJM7F0 7898
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 194474 BBG01BFR8YV1 2622
W. P. CAREY REIT INC WPC 0.04 201695 BBG000BCQM58 3044
AO Smith Corp AOS 0.03 146243 BBG000BC1L02 2230
KRAFT HEINZ CO/THE KHC 0.03 158236 BBG005CPNTQ2 6671
Old Dominion Freight Line Inc. ODFL 0.03 164264 BBG000CHSS88 1193
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 148636 BBG01BGWHFR5 952
PPG INDUSTRIES INC PPG 0.03 145515 BBG000BRJ809 1529
BIOGEN INC BIIB 0.03 125862 BBG000C17X76 803
ARM HOLDINGS PLC ARM 0.03 125492 BBG01J1GXZF0 793
JOHNSON & JOHNSON JNJ 0.03 147145 BBG000BMHYD1 787
DEXCOM INC DXCM 0.03 130197 BBG000QTF8K1 2244
MCDONALDS CORP MCD 0.03 146818 BBG000BNSZP1 492
GLOBALFOUNDRIES INC GFS 0.02 104327 BBG000C2L5G9 3031
ON Semiconductor Corporation ON 0.02 115363 BBG000DV7MX4 2364
LULULEMON ATHLETICA INC LULU 0.02 116611 BBG000R8ZVD1 713
CDW CORP/DE CDW 0.02 108577 BBG001P63B80 767
TRADE DESK INC/THE -CLASS A TTD 0.02 122874 BBG00629NGT2 2677
Solstice Advanced Materials Inc. SOLSV 0.00 6539.16 BBG01X5744P5 145.25
Cash & Other Cash&Other -0.10 -479402 N/A -479402

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.