RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 10/27/2026
TICKER RAA
NET ASSETS $615M
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 $30.28
30 DAY MEDIAN BID-ASK SPREAD 0.000666

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 12.63% NA NA 14.06%
RAA - Market Price 12.67% NA NA 14.11%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.49% -1.49% 1.87% 1.87% 9.81% 9.81% 14.06% 14.06%
RAA - Market Price -1.49% -1.49% 1.86% 1.86% 9.83% 9.83% 14.11% 14.11%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
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 10/27/2026

NET ASSET VALUE

$30.28

CLOSING PRICE

$30.27

PREMIUM/DISCOUNT

0.03%
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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 4
Discount 16 8 14 21 11

Asset Allocation

As of 10/27/2026

Equities

41.22%
Nasdaq
17.32%
US Large Cap
14.98%
US Small Cap
3.01%
Dividend Payers
2.11%
Emerging Ex. China
1.85%
Europe
0.99%
Japan
0.96%

Fixed Income

29.31%
Long Term Treasuries
8.28%
Corporate Bonds
6.04%
High Yield
5.98%
Emerging Mkt Bonds
4.01%
TIPS
3.03%
T-Bills
1.97%

Alternatives

29.47%
Commodities
10.27%
Energy
5.50%
Managed Futures
4.99%
Miners
3.80%
Real Estate
2.02%
Gold
1.94%
Bitcoin
0.95%

Holdings

As of 10/27/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.98 92184000 BBG00RYR67P4 1874040
INVESCO OPTIMUM YIELD DIVERS PDBC 10.27 63208700 N/A 3149410
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.28 50970000 BBG00PZFJPC3 1715580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.04 37166800 BBG000PWYVH7 467625
SCHWAB HIGH YIELD BOND ETF SCYB 5.98 36802400 BBG01F80WX71 1453490
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.01 24678100 BBG000NXKWH0 268474
iM DBi Managed Futures Strategy ETF DBMF 3.51 21574700 N/A 657965
SCHWAB U.S. TIPS ETF SCHP 3.03 18626600 BBG000BGN6P5 726467
Vanguard Morningstar Small-Cap ETF VB 3.01 18538300 BBG000HT3Z79 63813
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 12161800 BBG01922X0X9 244114
SPROTT PHYSICAL GOLD TRUS PHYS 1.94 11925700 BBG000Q83F79 388713
ISHARES MSCI EMR MRK EX CHNA EMXC 1.85 11371800 BBG00H5VLMJ6 122779
Simplify DBi CTA Managed Futures Index ETF SDMF 1.48 9120250 BBG020BR8WR7 334053
NVIDIA CORP NVDA 1.40 8632380 BBG000BBJQV0 39609
APPLE INC AAPL 1.34 8234600 BBG000B9XRY4 23724
MICROSOFT CORP MSFT 1.05 6453000 BBG000BPH459 12145
Franklin FTSE Europe ETF FLEE 0.99 6094030 BBG00J3PR1S7 160627
Franklin FTSE Japan ETF FLJP 0.96 5923300 BBG00J3MDY16 146074
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.95 5830700 N/A 163508
BHP GROUP LTD BHP 0.82 5030090 BBG000BD5NZ4 60897
MICRON TECHNOLOGY INC MU 0.78 4797970 BBG000C5Z1S3 5166
AMAZON.COM INC AMZN 0.73 4471260 BBG000BVPV84 17666
ADVANCED MICRO DEVICES INC AMD 0.68 4168890 BBG000BBQCY0 7441
CHEVRON CORP CVX 0.62 3803450 BBG000K4ND22 16665
Tesla Inc. TSLA 0.58 3540010 BBG000N9MNX3 8688
EQT CORP EQT 0.57 3494200 BBG000BHZ5J9 62097
CANADIAN NATURAL RESOURCES CNQ 0.56 3445070 BBG000HW5GX3 63715
OCCIDENTAL PETROLEUM CORP OXY 0.56 3461630 BBG000BQQ2S6 55183
Cheniere Energy Inc LNG 0.55 3408940 BBG000C3HSR0 11373
Suncor Energy Inc. SU 0.55 3379210 BBG000BC1LY5 44335
SCHLUMBERGER LTD SLB 0.54 3349720 BBG000BT41Q8 61940
WILLIAMS COMPANIES INC. WMB 0.54 3329980 BBG000BWVCP8 44945
MARATHON PETROLEUM CORP MPC 0.54 3327400 BBG001DCCGR8 7632
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.54 3349920 BBG023CY9MM1 18620
META PLATFORMS INC META 0.50 3091030 BBG000MM2P62 4984
ALPHABET INC-CL A GOOGL 0.49 3041980 BBG009S39JX6 9489
SPACE EXPLORATION TECH CORP A SPCX 0.47 2907710 BBG000NQF3Z5 19570
NEWMONT GOLDCORP CORPORATION COM NEM 0.46 2834250 BBG000BPWXK1 25162
ALPHABET INC-CL C GOOG 0.46 2831190 BBG009S3NB30 8936
Broadcom Inc. AVGO 0.45 2789300 BBG00KHY5S69 8148
WAL-MART STORES INC WMT 0.45 2750330 BBG000BWXBC2 23050
FREEPORT-MCMORAN INC FCX 0.36 2196330 BBG000BJDB15 33303
INTEL CORP INTC 0.35 2178890 BBG000C0G1D1 23244
RIO TINTO PLC-SPON ADR RIO 0.35 2136640 BBG000FD28T3 24920
AGNICO EAGLE MINES LTD AEM 0.35 2146110 BBG000DLVDK3 11876
COSTCO WHOLESALE CORP COST 0.34 2100340 BBG000F6H8W8 2117
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 2065600 BBG000N7QR55 10394
CISCO SYSTEMS INC CSCO 0.32 1990470 BBG000C3J3C9 17871
WELLTOWER INC WELL 0.27 1656870 BBG000BKY1G5 7308
GLENCORE PLC -UNSP ADR GLNCY 0.25 1556810 BBG001VKX1Z1 107812
Barrick Mining Corp. B 0.25 1525920 N/A 38867
APPLIED MATERIALS INC AMAT 0.24 1455040 BBG000BBPFB9 3675
PALO ALTO NETWORKS INC PANW 0.24 1449330 BBG0014GJCT9 3608
NUCOR CORP NUE 0.23 1386170 BBG000BQ8KV2 5119
TEXAS INSTRUMENTS INC TXN 0.22 1336340 BBG000BVV7G1 4326
LAM RESH CORP LRCX 0.22 1377420 BBG000BNFLM9 5719
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1310450 BBG000PVRDL2 10407
REALTY INCOME CORP O 0.21 1268790 BBG000DHPN63 22330
PROLOGIS INC PLD 0.21 1313010 BBG000B9Z0J8 10382
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1277960 N/A 49862
NETFLIX INC NFLX 0.20 1200010 BBG000CL9VN6 19194
PEPSICO INC PEP 0.20 1216450 BBG000DH7JK6 9112
Crowdstrike Holdings Inc. Class A CRWD 0.20 1235300 BBG00BLYKS03 4609
AUTOMATIC DATA PROCESSING ADP 0.20 1214350 BBG000JG0547 4143
EQUINIX INC EQIX 0.19 1141290 BBG000MBDGM6 1142
AMGEN INC AMGN 0.19 1155710 BBG000BBS2Y0 2580
LINDE PLC LIN 0.18 1119540 BBG01FND0CC1 2201
FRANCO-NEVADA CORP FNV 0.17 1033300 BBG000TRN6Z1 4371
KLA CORPORATION KLAC 0.16 965292 BBG000BMTFR4 6282
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 973549 BBG00ZXBJ153 3997
ANALOG DEVICES INC ADI 0.16 980432 BBG000BB6G37 2305
QUALCOMM INC QCOM 0.15 894330 BBG000CGC1X8 4856
GILEAD SCIENCES INC GILD 0.15 941435 BBG000CKGBP2 5918
SHOPIFY INC - CLASS A SHOP 0.15 903664 BBG004DW5NB8 5450
VALE SA-SP ADR VALE 0.14 862130 BBG000BN5LG7 72815
SANDISK CORP/DE SNDKV SNDK 0.14 842927 BBG01R388JG1 646
SIMON PROPERTY GROUP INC SPG 0.14 873957 BBG000BJ2D31 4117
PUBLIC STORAGE PSA 0.13 816484 BBG000BPPN67 2613
DIGITAL REALTY TRUST INC DLR 0.13 819866 BBG000Q5ZRM7 4580
INTUITIVE SURGICAL INC ISRG 0.12 754875 BBG000BJPDZ1 1693
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 713264 BBG0113JGQF0 1068
T-MOBILE US INC TMUS 0.12 766159 BBG000NDV1D4 5218
Ventas Inc. VTR 0.12 710557 BBG000FRVHB9 8526
Vivmark Residential VMRK 0.12 742844 BBG000BG8M31 11876
KENVUE INC KVUE 0.11 662952 BBG01C79X561 34120
AO Smith Corp AOS 0.11 656533 BBG000BC1L02 10579
Kimberly-Clark Corp KMB 0.11 673911 BBG000BMW2Z0 6177
MEDTRONIC PLC MDT 0.11 656617 BBG000BNWG87 6989
STANLEY BLACK & DECKER INC SWK 0.11 673191 BBG000BTQR96 6778
CLOROX COMPANY CLX 0.11 646342 BBG000BFS7D3 7506
International Business Machines Corporation IBM 0.11 654904 BBG000BLNNH6 2617
ABBVIE INC ABBV 0.11 671298 BBG0025Y4RY4 2344
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 663879 N/A 14451
ASML HOLDING NV-NY REG SHS ASML 0.11 678762 BBG000K6MRN4 415
WESTERN DIGITAL CORP WDC 0.10 642925 BBG000BWNFZ9 1688
HORMEL FOODS CORP HRL 0.10 642420 BBG000BLF8D2 30782
FRANKLIN RESOURCES INC BEN 0.10 591590 BBG000BD0TF8 18943
T ROWE PRICE GROUP INC TROW 0.10 604888 BBG000BVMPN3 5837
VERTEX PHARMACEUTICALS INC VRTX 0.10 627320 BBG000C1S2X2 1204
FORTINET INC FTNT 0.10 634550 BBG000BCMBG4 3430
GENUINE PARTS CO GPC 0.09 559915 BBG000BKL348 4597
IRON MOUNTAIN INC IRM 0.09 571394 BBG000KCZPC3 4954
PPG INDUSTRIES INC PPG 0.09 544966 BBG000BRJ809 4804
EVERSOURCE ENERGY ES 0.09 537743 BBG000BQ87N0 7936
ILLINOIS TOOL WORKS ITW 0.09 545238 BBG000BMBL90 1976
STARBUCKS CORP SBUX 0.09 568472 BBG000CTQBF3 5517
Marriott International, Inc Class A MAR 0.08 500665 BBG000BGD7W6 1283
BOOKING HOLDINGS INC BKNG 0.08 516331 BBG000BLBVN4 3439
EXTRA SPACE STORAGE INC EXR 0.08 500432 BBG000PV27K3 3462
ADOBE SYSTEMS INC ADBE 0.08 472381 BBG000BB5006 1902
CSX CORP CSX 0.08 471998 BBG000BGJRC8 9030
CADENCE DESIGN SYS INC CDNS 0.07 427821 BBG000C13CD9 1247
ARM HOLDINGS PLC ARM 0.07 457279 BBG01J1GXZF0 2018
CONSTELLATION ENERGY CORPORATION CEG 0.07 446740 BBG014KFRNP7 1725
MONSTER BEVERAGE CORP MNST 0.07 434179 BBG008NVB1C0 9555
INTUIT INC INTU 0.07 426328 BBG000BH5DV1 1298
VICI PROPERTIES INC REIT VICI 0.07 425202 BBG00HVVB499 17941
CINTAS CORP CTAS 0.07 415208 BBG000H3YXF8 1933
SYNOPSYS INC SNPS 0.07 434094 BBG000BSFRF3 915
Datadog Inc. Class A DDOG 0.07 442853 BBG003NJHZT9 1577
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 394267 BBG000BBTJZ1 1597
COMCAST CORP-CLASS A CMCSA 0.06 377286 BBG000BFT2L4 17275
ROSS STORES INC ROST 0.06 351117 BBG000BSBZH7 1526
AIRBNB INC ABNB 0.06 347600 BBG001Y2XS07 2059
MERCADOLIBRE INC MELI 0.06 398281 BBG000GQPB11 237
REGENERON PHARMACEUTICALS REGN 0.06 386831 BBG000C734W3 474
APPLOVIN CORP APP 0.06 388185 BBG006HFPX77 1477
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 384512 BBG000D4LWF6 6167
AMERICAN ELECTRIC POWER AEP 0.06 342298 BBG000BB9KF2 2627
LUMENTUM HOLDINGS INC LITE 0.06 365528 BBG0073F9RT7 422
OREILLY AUTOMOTIVE INC ORLY 0.06 353172 BBG000BGYWY6 3932
FASTENAL CO FAST 0.05 283685 BBG000BJ8YN7 5531
HOST HOTELS & RESORTS INC HST 0.05 289702 BBG000BL8804 11487
ESSEX PROPERTY TRUST INC ESS 0.05 290242 BBG000CGJMB9 1056
NXP Semiconductors NV NXPI 0.05 303186 BBG000BND699 1196
DOORDASH INC CLASS A DASH 0.05 335150 BBG005D7QCJ3 1965
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 333685 BBG022XF4SZ9 1525
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 284233 BBG00CMNZNK7 284233
XCEL ENERGY INC XEL 0.04 235577 BBG000BCTQ65 3015
PAYPAL HOLDINGS INC PYPL 0.04 238831 BBG0077VNXV6 4258
ASTERA LABS INC ALAB 0.04 215591 BBG00TDKHW99 752
Omega Healthcare Investors Inc OHI 0.04 229727 BBG000BGBTC2 4980
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 262980 BBG000C30L48 217
Baker Hughes Company BKR 0.04 271105 BBG00GBVBK51 4595
TERADYNE INC TER 0.04 237581 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.04 219890 BBG000BKYDP9 11561
EXELON CORP EXC 0.04 220013 BBG000J6XT05 4922
MID-AMERICA APARTMENT COMM MAA 0.04 226575 BBG000BLMY92 1908
KEURIG DR PEPPER INC KDP 0.04 229727 BBG000TJM7F0 6590
KIMCO REALTY CORP KIM 0.04 259515 BBG000CN3S73 10950
INVITATION HOMES INC REIT USD.01 INVH 0.04 269263 BBG00FQH6BS9 9903
PACCAR INC PCAR 0.04 265238 BBG000BQVTF5 2557
W. P. CAREY REIT INC WPC 0.04 237781 BBG000BCQM58 3744
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 237637 BBG00B6BFWH9 2143
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 254368 BBG020QYV152 1515
DIAMONDBACK ENERGY INC FANG 0.04 269914 BBG002PHSYX9 1320
AUTODESK INC ADSK 0.04 244521 BBG000BM7HL0 1010
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 253075 BBG00LBLDDR2 3228
MICROCHIP TECHNOLOGY INC MCHP 0.03 209484 BBG000BHCP19 2613
ROPER TECHNOLOGIES INC ROP 0.03 195082 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 166089 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 184786 BBG000CHSS88 988
IDEXX LABS IDXX 0.03 203172 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 191015 BBG000BS1YV5 949
FERROVIAL SA FER 0.03 187281 BBG01H0DF657 3466.88
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 154878 BBG01BFR8YV1 2178
WORKDAY INC-CLASS A WDAY 0.03 202789 BBG000VC0T95 987
Nebius Group NV NBIS 0.03 182403 BBG001NVJ6W4 1070
ROCKET LAB CORP RKLB 0.03 162802 BBG01V7JN3F3 2792
MICROSTRATEGY INC-CL A MSTR 0.03 214645 BBG000GQJPZ0 1518
PAYCHEX INC PAYX 0.03 187709 BBG000BQSQ38 1718
THOMSON REUTERS CORP TRI 0.03 213030 N/A 1830
AIR PRODUCTS & CHEMICALS INC APD 0.02 132364 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 137742 BBG000B9ZXB4 1336
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 138342 BBG000BFGNJ5 610
COREWEAVE INC CRWV 0.02 127242 BBG011ZTRJ21 2136
COPART INC CPRT 0.02 127190 BBG000BM9RH1 4398
DEXCOM INC DXCM 0.02 145729 BBG000QTF8K1 1855
CONSOLIDATED EDISON INC ED 0.02 135160 BBG000BHLYS1 1175
MCDONALDS CORP MCD 0.02 129724 BBG000BNSZP1 520
Cash & Other Cash&Other -0.04 -247950 N/A -247950

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.