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 06/29/2026
TICKER RAA
NET ASSETS $593M
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 $29.36
30 DAY MEDIAN BID-ASK SPREAD 0.000678

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 06/29/2026

NET ASSET VALUE

$29.36

CLOSING PRICE

$29.36

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 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 38 0
Discount 13 16 8 14 0

Asset Allocation

As of 6/29/2026

Equities

42.88%
Nasdaq
17.06%
US Large Cap
15.25%
Dividend Payers
3.32%
US Small Cap
2.12%
Emerging Ex. China
2.06%
Japan
2.06%
Europe
1.01%

Fixed Income

0.00%
High Yield
6.19%
Emerging Mkt Bonds
4.16%
Corporate Bonds
4.14%
TIPS
3.08%
Long Term Treasuries
1.05%
T-Bills
0.00%

Alternatives

37.16%
Managed Futures
10.16%
Commodities
9.32%
Energy
4.87%
Gold
4.54%
Miners
3.63%
Bitcoin
2.50%
Real Estate
2.14%

Holdings

As of 06/29/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.25 90447600 BBG00RYR67P4 634720
INVESCO OPTIMUM YIELD DIVERS PDBC 9.32 55294500 N/A 3490810
iM DBi Managed Futures Strategy ETF DBMF 9.14 54206600 N/A 1784870
SCHWAB HIGH YIELD BOND ETF SCYB 6.19 36692200 BBG01F80WX71 1401000
SPROTT PHYSICAL GOLD TRUS PHYS 4.54 26907800 BBG000Q83F79 888925
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.16 24656200 BBG000NXKWH0 254660
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.14 24574800 BBG000PWYVH7 296225
SCHWAB U.S. TIPS ETF SCHP 3.08 18271900 BBG000BGN6P5 686915
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.50 14834600 N/A 555810
VANGUARD SMALL-CAP ETF VB 2.12 12587700 BBG000HT3Z79 41778
ISHARES MSCI EMR MRK EX CHNA EMXC 2.06 12190600 BBG00H5VLMJ6 121348
Franklin FTSE Japan ETF FLJP 2.06 12239300 BBG00J3MDY16 307985
NVIDIA CORP NVDA 1.32 7820440 BBG000BBJQV0 40111
APPLE INC AAPL 1.17 6922630 BBG000B9XRY4 24571
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.05 6237890 BBG00PZFJPC3 197152
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.04 6139630 BBG01922X0X9 123162
Simplify DBi CTA Managed Futures Index ETF SDMF 1.02 6031050 BBG020BR8WR7 238590
Franklin FTSE Europe ETF FLEE 1.01 6002030 BBG00J3PR1S7 156221
MICRON TECHNOLOGY INC MU 0.95 5646230 BBG000C5Z1S3 4930
BHP GROUP LTD BHP 0.75 4421400 BBG000BD5NZ4 54091
AMAZON.COM INC AMZN 0.73 4312910 BBG000BVPV84 17960
MICROSOFT CORP MSFT 0.72 4251460 BBG000BPH459 11535
ADVANCED MICRO DEVICES INC AMD 0.69 4085020 BBG000BBQCY0 7572
ALPHABET INC-CL A GOOGL 0.59 3484870 BBG009S39JX6 9854
Tesla Inc. TSLA 0.58 3448340 BBG000N9MNX3 8373
CHEVRON CORP CVX 0.56 3337730 BBG000K4ND22 19812
Cheniere Energy Inc LNG 0.56 3308720 BBG000C3HSR0 13562
WILLIAMS COMPANIES INC. WMB 0.54 3216770 BBG000BWVCP8 42856
MARATHON PETROLEUM CORP MPC 0.54 3186850 BBG001DCCGR8 12294
ALPHABET INC-CL C GOOG 0.54 3230020 BBG009S3NB30 9195
INTEL CORP INTC 0.52 3091070 BBG000C0G1D1 23467
EQT CORP EQT 0.49 2897230 BBG000BHZ5J9 55716
EXXON MOBIL CORP XOM 0.48 2872770 BBG000GZQ728 21114
META PLATFORMS INC META 0.47 2793870 BBG000MM2P62 4966
Broadcom Inc. AVGO 0.46 2744210 BBG00KHY5S69 7368
CANADIAN NATURAL RESOURCES CNQ 0.45 2683500 BBG000HW5GX3 68265
OCCIDENTAL PETROLEUM CORP OXY 0.45 2667500 BBG000BQQ2S6 54339
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.45 2661010 BBG000BRK7L6 49452
WAL-MART STORES INC WMT 0.45 2662390 BBG000BWXBC2 23232
SCHLUMBERGER LTD SLB 0.44 2591340 BBG000BT41Q8 55872
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2526540 BBG000BPWXK1 26733
APPLIED MATERIALS INC AMAT 0.41 2433320 BBG000BBPFB9 3503
RIO TINTO PLC-SPON ADR RIO 0.41 2435890 BBG000FD28T3 25834
LAM RESH CORP LRCX 0.40 2351230 BBG000BNFLM9 5722
CISCO SYSTEMS INC CSCO 0.36 2109420 BBG000C3J3C9 17922
COSTCO WHOLESALE CORP COST 0.34 2021160 BBG000F6H8W8 2135
FREEPORT-MCMORAN INC FCX 0.32 1902460 BBG000BJDB15 30874
AGNICO EAGLE MINES LTD AEM 0.31 1842200 BBG000DLVDK3 11981
GLENCORE PLC -UNSP ADR GLNCY 0.28 1640370 BBG001VKX1Z1 120971
WELLTOWER INC WELL 0.28 1686340 BBG000BKY1G5 7405
REALTY INCOME CORP O 0.27 1630110 BBG000DHPN63 25970
KLA CORPORATION KLAC 0.27 1583760 BBG000BMTFR4 5689
NETFLIX INC NFLX 0.24 1441510 BBG000CL9VN6 19538
PROLOGIS INC PLD 0.24 1426540 BBG000B9Z0J8 10271
SANDISK CORP/DE SNDKV SNDK 0.23 1340960 BBG01R388JG1 654
Barrick Mining Corp. B 0.23 1388790 N/A 37606
AUTOMATIC DATA PROCESSING ADP 0.23 1344650 BBG000JG0547 5977
EQUINIX INC EQIX 0.21 1244690 BBG000MBDGM6 1147
TEXAS INSTRUMENTS INC TXN 0.20 1211290 BBG000BVV7G1 4243
PALO ALTO NETWORKS INC PANW 0.20 1170630 BBG0014GJCT9 3526
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.20 1212650 N/A 49965
NUCOR CORP NUE 0.19 1124820 BBG000BQ8KV2 4933
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1116950 BBG000PVRDL2 10069
LINDE PLC LIN 0.18 1090600 BBG01FND0CC1 2134
STANLEY BLACK & DECKER INC SWK 0.18 1079040 BBG000BTQR96 11522
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1047400 BBG00ZXBJ153 3771
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.18 1069530 BBG000N7QR55 9244
KENVUE INC KVUE 0.17 1005900 BBG01C79X561 52748
WESTERN DIGITAL CORP WDC 0.17 998680 BBG000BWNFZ9 1532
Kimberly-Clark Corp KMB 0.17 1021060 BBG000BMW2Z0 9290
HORMEL FOODS CORP HRL 0.17 1031690 BBG000BLF8D2 39213
MEDTRONIC PLC MDT 0.17 998433 BBG000BNWG87 12337
ILLINOIS TOOL WORKS ITW 0.17 984214 BBG000BMBL90 3702
T ROWE PRICE GROUP INC TROW 0.17 1001630 BBG000BVMPN3 8757
AMCOR PLC COMMON STOCK USD.01 AMCR 0.17 1013810 N/A 23610
GENUINE PARTS CO GPC 0.16 930761 BBG000BKL348 7943
FRANCO-NEVADA CORP FNV 0.16 937437 BBG000RD3CL8 4523
FRANKLIN RESOURCES INC BEN 0.16 977586 BBG000BD0TF8 29472
VALE SA-SP ADR VALE 0.16 958689 BBG000BN5LG7 63785
EVERSOURCE ENERGY ES 0.16 949936 BBG000BQ87N0 12877
CLOROX COMPANY CLX 0.16 970415 BBG000BFS7D3 9995
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.16 960782 BBG0113JGQF0 992
SIMON PROPERTY GROUP INC SPG 0.16 951201 BBG000BJ2D31 4180
PEPSICO INC PEP 0.15 882421 BBG000DH7JK6 6363
QUALCOMM INC QCOM 0.15 887739 BBG000CGC1X8 4704
AMGEN INC AMGN 0.15 898851 BBG000BBS2Y0 2493
ABBVIE INC ABBV 0.15 906615 BBG0025Y4RY4 3565
T-MOBILE US INC TMUS 0.15 891248 BBG000NDV1D4 5123
ANALOG DEVICES INC ADI 0.15 890516 BBG000BB6G37 2273
AO Smith Corp AOS 0.14 848100 BBG000BC1L02 13750
PPG INDUSTRIES INC PPG 0.14 824364 BBG000BRJ809 6818
PUBLIC STORAGE PSA 0.13 773813 BBG000BPPN67 2385
J M Smucker Co COM STK NPV SJM 0.13 750735 BBG000BT1715 6478
DIGITAL REALTY TRUST INC DLR 0.13 800627 BBG000Q5ZRM7 4201
International Business Machines Corporation IBM 0.13 765334 BBG000BLNNH6 2753
Crowdstrike Holdings Inc. Class A CRWD 0.13 793428 BBG00BLYKS03 1068
Ventas Inc. VTR 0.12 711483 BBG000FRVHB9 8014
GILEAD SCIENCES INC GILD 0.12 726650 BBG000CKGBP2 5752
APPLOVIN CORP APP 0.12 689286 BBG006HFPX77 1382
ASML HOLDING NV-NY REG SHS ASML 0.12 738179 BBG000K6MRN4 392
Cash & Other Cash&Other 0.11 636525 N/A 636525
INTUITIVE SURGICAL INC ISRG 0.11 661731 BBG000BJPDZ1 1630
IRON MOUNTAIN INC IRM 0.11 631134 BBG000KCZPC3 4856
BOOKING HOLDINGS INC BKNG 0.11 661966 BBG000BLBVN4 3629
SHOPIFY INC - CLASS A SHOP 0.10 616277 BBG008HBD923 5396
VERTEX PHARMACEUTICALS INC VRTX 0.10 578595 BBG000C1S2X2 1158
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 562661 BBG000BBTJZ1 2369
STARBUCKS CORP SBUX 0.09 562028 BBG000CTQBF3 5401
CADENCE DESIGN SYS INC CDNS 0.08 460682 BBG000C13CD9 1236
FASTENAL CO FAST 0.08 450158 BBG000BJ8YN7 9497
EQUITY RESIDENTIAL EQR 0.08 449951 BBG000BG8M31 6584
Marriott International, Inc Class A MAR 0.08 459603 BBG000BGD7W6 1226
EXTRA SPACE STORAGE INC EXR 0.08 502157 BBG000PV27K3 3387
FORTINET INC FTNT 0.08 498277 BBG000BCMBG4 3206
VICI PROPERTIES INC REIT VICI 0.08 475134 BBG00HVVB499 17481
AVALONBAY COMMUNITIES INC AVB 0.08 446231 BBG000BLPBL5 2338
COMCAST CORP-CLASS A CMCSA 0.07 407090 BBG000BFT2L4 16808
CONSTELLATION ENERGY CORPORATION CEG 0.07 432286 BBG014KFRNP7 1667
MONSTER BEVERAGE CORP MNST 0.07 440942 BBG008NVB1C0 4516
MERCADOLIBRE INC MELI 0.07 388803 BBG000GQPB11 231
CSX CORP CSX 0.07 424168 BBG000BGJRC8 8835
SYNOPSYS INC SNPS 0.07 401192 BBG000BSFRF3 897
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 350563 BBG000D4LWF6 5877
ADOBE SYSTEMS INC ADBE 0.06 362491 BBG000BB5006 1756
NXP Semiconductors NV NXPI 0.06 328198 BBG000BND699 1179
DOORDASH INC CLASS A DASH 0.06 335263 BBG005D7QCJ3 1814
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.06 332804 BBG00CMNZNK7 332804
OREILLY AUTOMOTIVE INC ORLY 0.06 353247 BBG000BGYWY6 3918
Datadog Inc. Class A DDOG 0.06 350981 BBG003NJHZT9 1412
AMERICAN ELECTRIC POWER AEP 0.06 353341 BBG000BB9KF2 2561
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 328260 BBG022XF4SZ9 1441
PACCAR INC PCAR 0.05 291106 BBG000BQVTF5 2434
Warner Bros Discovery Inc WBD 0.05 314193 BBG011386VF4 11581
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 293612 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 326194 BBG000CGJMB9 1112
AIRBNB INC ABNB 0.05 280800 BBG001Y2XS07 1908
ROSS STORES INC ROST 0.05 296539 BBG000BSBZH7 1420
REGENERON PHARMACEUTICALS REGN 0.05 296319 BBG000C734W3 469
INTUIT INC INTU 0.05 321811 BBG000BH5DV1 1208
INVITATION HOMES INC REIT USD.01 INVH 0.05 317677 BBG00FQH6BS9 10385
CINTAS CORP CTAS 0.05 318039 BBG000H3YXF8 1881
LUMENTUM HOLDINGS INC LITE 0.05 282665 BBG0073F9RT7 332
HONEYWELL AEROSPACE INC HONAV HONAV 0.05 317294 BBG020QYV152 1441
XCEL ENERGY INC XEL 0.04 234791 BBG000BCTQ65 2864
MICROCHIP TECHNOLOGY INC MCHP 0.04 223006 BBG000BHCP19 2504
Sun Communities Inc SUI 0.04 239980 BBG000BLJWF3 1998
HOST HOTELS & RESORTS INC HST 0.04 254640 BBG000BL8804 10610
Baker Hughes Company BKR 0.04 255704 BBG00GBVBK51 4541
ARM HOLDINGS PLC ARM 0.04 212332 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 229385 BBG000J6XT05 4865
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 208842 BBG000BS1YV5 845
MID-AMERICA APARTMENT COMM MAA 0.04 264844 BBG000BLMY92 1883
KEURIG DR PEPPER INC KDP 0.04 212725 BBG000TJM7F0 6350
KIMCO REALTY CORP KIM 0.04 262665 BBG000CN3S73 10169
FERROVIAL SE FER 0.04 226986 BBG01H7CZ9S9 3319
DIAMONDBACK ENERGY INC FANG 0.04 235244 BBG002PHSYX9 1303
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 225334 BBG00LBLDDR2 2944
W. P. CAREY REIT INC WPC 0.04 239593 BBG000BCQM58 3302
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 217359 BBG00B6BFWH9 2144
ELECTRONIC ARTS INC EA 0.04 230066 BBG000BP0KQ8 1122
PAYCHEX INC PAYX 0.03 156802 BBG000BQSQ38 1571
PAYPAL HOLDINGS INC PYPL 0.03 188437 BBG0077VNXV6 4246
ROPER TECHNOLOGIES INC ROP 0.03 155347 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 185348 BBG000BHJWG1 363
Old Dominion Freight Line Inc. ODFL 0.03 206069 BBG000CHSS88 938
AIR PRODUCTS & CHEMICALS INC APD 0.03 176106 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 194543 BBG000BLRT07 363
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 198307 BBG000B9ZXB4 2139
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 182276 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 192311 BBG000BM7HL0 985
MCDONALDS CORP MCD 0.03 172598 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 195048 BBG000BHLYS1 1737
THOMSON REUTERS CORP TRI 0.03 158294 N/A 1915
KRAFT HEINZ CO/THE KHC 0.02 134666 BBG005CPNTQ2 5567
Zscaler Inc. ZS 0.02 126454 BBG003338H34 919
VERISK ANALYTICS INC VRSK 0.02 117562 BBG000BCZL41 656
WORKDAY INC-CLASS A WDAY 0.02 105661 BBG000VC0T95 855
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 139532 BBG01BFR8YV1 2145
COPART INC CPRT 0.02 125157 BBG000BM9RH1 4454
DEXCOM INC DXCM 0.02 117007 BBG000QTF8K1 1672
MICROSTRATEGY INC-CL A MSTR 0.02 126694 BBG000GQJPZ0 1367
INSMED INC INSM 0.02 101598 BBG000BWM5P3 970
COGNIZANT TECH SOLUTIONS-A CTSH 0.01 81586.4 BBG000BBDV81 2106
CHARTER COMMUNICATIONS INC-A CHTR 0.01 86971.1 BBG000VPGNR2 595
EURO EUR 0.00 1957.14 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.