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 09/21/2026
TICKER RAA
NET ASSETS $612M
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 $30.39
30 DAY MEDIAN BID-ASK SPREAD 0.00098

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 18.28% NA NA 16.03%
RAA - Market Price 18.32% NA NA 16.08%
S&P 500 Index Total Return NA NA NA 19.83%
1 MO 3 MO YTD Since Inception
RAA - NAV 3.57% -2.77% 0.55% 7.07% 11.47% 7.79% 16.03% 15.31%
RAA - Market Price 3.57% -2.70% 0.61% 7.15% 11.50% 7.83% 16.08% 15.38%
S&P 500 Index Total Return 2.72% -0.95% 1.68% 15.20% 13.14% 10.21% 19.83% 20.23%
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 09/21/2026

NET ASSET VALUE

$30.39

CLOSING PRICE

$30.40

PREMIUM/DISCOUNT

0.02%
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 28
Discount 13 16 8 14 19

Asset Allocation

As of 9/21/2026

Equities

46.40%
Nasdaq
17.51%
US Large Cap
15.19%
Dividend Payers
5.72%
US Small Cap
3.90%
Emerging Ex. China
2.08%
Japan
1.02%
Europe
0.98%

Fixed Income

24.72%
Corporate Bonds
6.90%
High Yield
5.91%
Emerging Mkt Bonds
3.96%
TIPS
3.94%
Long Term Treasuries
2.97%
T-Bills
1.04%

Alternatives

28.88%
Commodities
7.28%
Managed Futures
5.09%
Energy
4.88%
Gold
3.88%
Miners
3.77%
Real Estate
2.88%
Bitcoin
1.10%

Holdings

As of 09/21/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.19 93017100 BBG00RYR67P4 1875340
INVESCO OPTIMUM YIELD DIVERS PDBC 7.28 44593700 N/A 2293910
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.90 42239200 BBG000PWYVH7 528519
SCHWAB HIGH YIELD BOND ETF SCYB 5.91 36211600 BBG01F80WX71 1408460
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 24229500 BBG000NXKWH0 258365
SCHWAB U.S. TIPS ETF SCHP 3.94 24147000 BBG000BGN6P5 945460
Vanguard Morningstar Small-Cap ETF VB 3.90 23854200 BBG000HT3Z79 81948
SPROTT PHYSICAL GOLD TRUS PHYS 3.88 23767100 BBG000Q83F79 723944
iM DBi Managed Futures Strategy ETF DBMF 3.67 22478500 N/A 701138
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.97 18199000 BBG00PZFJPC3 611731
ISHARES MSCI EMR MRK EX CHNA EMXC 2.08 12726300 BBG00H5VLMJ6 124658
NVIDIA CORP NVDA 1.47 9014710 BBG000BBJQV0 39646
Simplify DBi CTA Managed Futures Index ETF SDMF 1.42 8726270 BBG020BR8WR7 327826
APPLE INC AAPL 1.36 8337550 BBG000B9XRY4 24596
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.10 6720980 N/A 175712
MICROSOFT CORP MSFT 1.02 6226990 BBG000BPH459 12414
Franklin FTSE Japan ETF FLJP 1.02 6238250 BBG00J3MDY16 149922
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.00 6130640 BBG01922X0X9 122711
Franklin FTSE Europe ETF FLEE 0.98 5978110 BBG00J3PR1S7 153562
MICRON TECHNOLOGY INC MU 0.86 5258430 BBG000C5Z1S3 5037
BHP GROUP LTD BHP 0.79 4863740 BBG000BD5NZ4 56496
AMAZON.COM INC AMZN 0.77 4708440 BBG000BVPV84 18218
ADVANCED MICRO DEVICES INC AMD 0.74 4549310 BBG000BBQCY0 7391
CHEVRON CORP CVX 0.66 4071360 BBG000K4ND22 19990
META PLATFORMS INC META 0.59 3618760 BBG000MM2P62 4882
ALPHABET INC-CL A GOOGL 0.57 3516690 BBG009S39JX6 9907
MARATHON PETROLEUM CORP MPC 0.54 3295090 BBG001DCCGR8 8189
ALPHABET INC-CL C GOOG 0.53 3257830 BBG009S3NB30 9285
Suncor Energy Inc. SU 0.51 3101710 BBG000BC1LY5 46129
CANADIAN NATURAL RESOURCES CNQ 0.49 2975790 BBG000HW5GX3 61636
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.49 3014350 BBG023CY9MM1 19042
OCCIDENTAL PETROLEUM CORP OXY 0.48 2927140 BBG000BQQ2S6 51129
Tesla Inc. TSLA 0.48 2956610 BBG000N9MNX3 7878
WILLIAMS COMPANIES INC. WMB 0.48 2928690 BBG000BWVCP8 40875
Cheniere Energy Inc LNG 0.47 2879870 BBG000C3HSR0 10473
INTEL CORP INTC 0.46 2793390 BBG000C0G1D1 22938
EQT CORP EQT 0.46 2828380 BBG000BHZ5J9 56421
Broadcom Inc. AVGO 0.46 2832370 BBG00KHY5S69 7810
NEWMONT GOLDCORP CORPORATION COM NEM 0.45 2759400 BBG000BPWXK1 22425
SCHLUMBERGER LTD SLB 0.43 2614860 BBG000BT41Q8 50519
WELLTOWER INC WELL 0.41 2486580 BBG000BKY1G5 10683
REALTY INCOME CORP O 0.40 2426040 BBG000DHPN63 42825
WAL-MART STORES INC WMT 0.39 2368620 BBG000BWXBC2 22046
RIO TINTO PLC-SPON ADR RIO 0.38 2313630 BBG000FD28T3 23842
FREEPORT-MCMORAN INC FCX 0.36 2218630 BBG000BJDB15 30746
AUTOMATIC DATA PROCESSING ADP 0.36 2226460 BBG000JG0547 8248
CISCO SYSTEMS INC CSCO 0.33 2002490 BBG000C3J3C9 17966
PROLOGIS INC PLD 0.33 2030240 BBG000B9Z0J8 14948
AGNICO EAGLE MINES LTD AEM 0.33 2031670 BBG000DLVDK3 10288
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.31 1919700 BBG000N7QR55 10485
MEDTRONIC PLC MDT 0.30 1853720 BBG000BNWG87 20204
FRANKLIN RESOURCES INC BEN 0.30 1807710 BBG000BD0TF8 53737
COSTCO WHOLESALE CORP COST 0.30 1835590 BBG000F6H8W8 2043
AO Smith Corp AOS 0.29 1753060 BBG000BC1L02 30777
PEPSICO INC PEP 0.29 1786660 BBG000DH7JK6 13787
ILLINOIS TOOL WORKS ITW 0.29 1756540 BBG000BMBL90 6566
KENVUE INC KVUE 0.28 1715190 BBG01C79X561 97068
APPLIED MATERIALS INC AMAT 0.28 1695400 BBG000BBPFB9 3652
HORMEL FOODS CORP HRL 0.28 1719130 BBG000BLF8D2 84024
EQUINIX INC EQIX 0.28 1740250 BBG000MBDGM6 1646
STANLEY BLACK & DECKER INC SWK 0.28 1694410 BBG000BTQR96 19107
LAM RESH CORP LRCX 0.28 1720280 BBG000BNFLM9 5691
T ROWE PRICE GROUP INC TROW 0.28 1734970 BBG000BVMPN3 16582
ABBVIE INC ABBV 0.28 1723880 BBG0025Y4RY4 6518
GENUINE PARTS CO GPC 0.27 1666480 BBG000BKL348 13179
Kimberly-Clark Corp KMB 0.27 1659630 BBG000BMW2Z0 16980
AMCOR PLC COMMON STOCK USD.01 AMCR 0.27 1678710 N/A 39827
CLOROX COMPANY CLX 0.26 1583950 BBG000BFS7D3 18661
GLENCORE PLC -UNSP ADR GLNCY 0.25 1552690 BBG001VKX1Z1 107304
EVERSOURCE ENERGY ES 0.25 1504090 BBG000BQ87N0 22486
Barrick Mining Corp. B 0.25 1514130 N/A 35468
PPG INDUSTRIES INC PPG 0.24 1464190 BBG000BRJ809 13954
International Business Machines Corporation IBM 0.24 1465570 BBG000BLNNH6 6319
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1382100 BBG000PVRDL2 9360
NETFLIX INC NFLX 0.23 1420690 BBG000CL9VN6 19366
PALO ALTO NETWORKS INC PANW 0.22 1353950 BBG0014GJCT9 3642
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1298500 N/A 47669
SPACE EXPLORATION TECH CORP A SPCX 0.21 1315020 BBG000NQF3Z5 8660
DIGITAL REALTY TRUST INC DLR 0.20 1197730 BBG000Q5ZRM7 6428
NUCOR CORP NUE 0.19 1187030 BBG000BQ8KV2 4897
SANDISK CORP/DE SNDKV SNDK 0.19 1141250 BBG01R388JG1 646
SIMON PROPERTY GROUP INC SPG 0.19 1185400 BBG000BJ2D31 5783
PUBLIC STORAGE PSA 0.18 1080470 BBG000BPPN67 3642
TEXAS INSTRUMENTS INC TXN 0.18 1121670 BBG000BVV7G1 4141
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1130440 BBG000BBTJZ1 4791
FRANCO-NEVADA CORP FNV 0.18 1095390 BBG000TRN6Z1 4186
KLA CORPORATION KLAC 0.18 1108050 BBG000BMTFR4 6023
Crowdstrike Holdings Inc. Class A CRWD 0.18 1103120 BBG00BLYKS03 4424
Vivmark Residential VMRK 0.18 1103620 BBG000BG8M31 17985.9
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.17 1059630 BBG00ZXBJ153 4117
AMGEN INC AMGN 0.16 970712 BBG000BBS2Y0 2469
LINDE PLC LIN 0.16 973102 BBG01FND0CC1 2127
Ventas Inc. VTR 0.16 996580 BBG000FRVHB9 11451
QUALCOMM INC QCOM 0.15 907248 BBG000CGC1X8 4671
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 904522 BBG0113JGQF0 1031
VALE SA-SP ADR VALE 0.15 918123 BBG000BN5LG7 64885
IRON MOUNTAIN INC IRM 0.14 832724 BBG000KCZPC3 7124
GILEAD SCIENCES INC GILD 0.14 852019 BBG000CKGBP2 5659
ANALOG DEVICES INC ADI 0.14 854473 BBG000BB6G37 2231
SHOPIFY INC - CLASS A SHOP 0.13 792902 BBG004DW5NB8 5749
T-MOBILE US INC TMUS 0.13 825689 BBG000NDV1D4 4996
WESTERN DIGITAL CORP WDC 0.12 723346 BBG000BWNFZ9 1614
ASML HOLDING NV-NY REG SHS ASML 0.12 710198 BBG000K6MRN4 415
INTUITIVE SURGICAL INC ISRG 0.11 650271 BBG000BJPDZ1 1619
EXTRA SPACE STORAGE INC EXR 0.11 687987 BBG000PV27K3 5005
ARM HOLDINGS PLC ARM 0.10 627718 BBG01J1GXZF0 1944
VERTEX PHARMACEUTICALS INC VRTX 0.10 596010 BBG000C1S2X2 1167
BOOKING HOLDINGS INC BKNG 0.10 610211 BBG000BLBVN4 3621
VICI PROPERTIES INC REIT VICI 0.10 614598 BBG00HVVB499 25555
FORTINET INC FTNT 0.09 575105 BBG000BCMBG4 3282
ROPER TECHNOLOGIES INC ROP 0.08 484886 BBG000F1ZSN5 1327
STARBUCKS CORP SBUX 0.08 502496 BBG000CTQBF3 5295
APPLOVIN CORP APP 0.08 475445 BBG006HFPX77 1440
ESSEX PROPERTY TRUST INC ESS 0.07 411427 BBG000CGJMB9 1516
CONSTELLATION ENERGY CORPORATION CEG 0.07 432744 BBG014KFRNP7 1651
Marriott International, Inc Class A MAR 0.07 426954 BBG000BGD7W6 1246
ADOBE SYSTEMS INC ADBE 0.07 456123 BBG000BB5006 1828
MONSTER BEVERAGE CORP MNST 0.07 402512 BBG008NVB1C0 9148
MERCADOLIBRE INC MELI 0.07 431451 BBG000GQPB11 237
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 355484 BBG000D4LWF6 5908
CADENCE DESIGN SYS INC CDNS 0.06 356829 BBG000C13CD9 1210
Warner Bros Discovery Inc WBD 0.06 356818 BBG011386VF4 11585
HOST HOTELS & RESORTS INC HST 0.06 362270 BBG000BL8804 16238
HEALTHPEAK PROPERTIES INC DOC 0.06 340140 BBG000BKYDP9 16416
COMCAST CORP-CLASS A CMCSA 0.06 379033 BBG000BFT2L4 16530
ROSS STORES INC ROST 0.06 344331 BBG000BSBZH7 1489
KIMCO REALTY CORP KIM 0.06 349821 BBG000CN3S73 15520
REGENERON PHARMACEUTICALS REGN 0.06 378333 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 366533 BBG005D7QCJ3 1891
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 342717 BBG000B9ZXB4 3328
INTUIT INC INTU 0.06 383495 BBG000BH5DV1 1261
INVITATION HOMES INC REIT USD.01 INVH 0.06 379445 BBG00FQH6BS9 14012
MCDONALDS CORP MCD 0.06 344057 BBG000BNSZP1 1388
CSX CORP CSX 0.06 398043 BBG000BGJRC8 8655
CINTAS CORP CTAS 0.06 366000 BBG000H3YXF8 1859
CONSOLIDATED EDISON INC ED 0.06 356863 BBG000BHLYS1 3436
SYNOPSYS INC SNPS 0.06 352824 BBG000BSFRF3 878
Datadog Inc. Class A DDOG 0.06 377377 BBG003NJHZT9 1540
W. P. CAREY REIT INC WPC 0.06 346358 BBG000BCQM58 5232
Cash & Other Cash&Other 0.05 299714 N/A 299714
PACCAR INC PCAR 0.05 280630 BBG000BQVTF5 2446
Sun Communities Inc SUI 0.05 328709 BBG000BLJWF3 2890
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 277257 BBG000C30L48 217
TERADYNE INC TER 0.05 280050 BBG000BV4DR6 734
AIR PRODUCTS & CHEMICALS INC APD 0.05 334514 BBG000BC4JJ4 1197
MID-AMERICA APARTMENT COMM MAA 0.05 325676 BBG000BLMY92 2740
AIRBNB INC ABNB 0.05 331177 BBG001Y2XS07 1985
OREILLY AUTOMOTIVE INC ORLY 0.05 313618 BBG000BGYWY6 3784
LUMENTUM HOLDINGS INC LITE 0.05 330254 BBG0073F9RT7 346
AMERICAN ELECTRIC POWER AEP 0.05 301995 BBG000BB9KF2 2516
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 307242 BBG022XF4SZ9 1488
FASTENAL CO FAST 0.04 263592 BBG000BJ8YN7 5309
ASTERA LABS INC ALAB 0.04 256236 BBG00TDKHW99 752
Baker Hughes Company BKR 0.04 255030 BBG00GBVBK51 4410
NXP Semiconductors NV NXPI 0.04 269363 BBG000BND699 1159
Nebius Group NV NBIS 0.04 240482 BBG001NVJ6W4 1033
DIAMONDBACK ENERGY INC FANG 0.04 242833 BBG002PHSYX9 1283
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 247163 BBG00LBLDDR2 3117
MICROSTRATEGY INC-CL A MSTR 0.04 249548 BBG000GQJPZ0 1481
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 249826 BBG020QYV152 1478
PAYCHEX INC PAYX 0.03 189076 BBG000BQSQ38 1644
XCEL ENERGY INC XEL 0.03 208652 BBG000BCTQ65 2904
MICROCHIP TECHNOLOGY INC MCHP 0.03 187100 BBG000BHCP19 2502
PAYPAL HOLDINGS INC PYPL 0.03 214321 BBG0077VNXV6 4073
AXON ENTERPRISE INC AXON 0.03 176303 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 166767 BBG000CHSS88 951
EXELON CORP EXC 0.03 198649 BBG000J6XT05 4732
IDEXX LABS IDXX 0.03 186539 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 191447 BBG000BS1YV5 912
KEURIG DR PEPPER INC KDP 0.03 193702 BBG000TJM7F0 6326
FERROVIAL SA FER 0.03 185691 BBG01H0DF657 3318.88
WORKDAY INC-CLASS A WDAY 0.03 182324 BBG000VC0T95 950
COREWEAVE INC CRWV 0.03 176157 BBG011ZTRJ21 2062
DEXCOM INC DXCM 0.03 158812 BBG000QTF8K1 1781
AUTODESK INC ADSK 0.03 212941 BBG000BM7HL0 973
ROCKET LAB CORP RKLB 0.03 187375 BBG01V7JN3F3 2681
THOMSON REUTERS CORP TRI 0.03 167575 N/A 1756
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 207997 BBG00B6BFWH9 2069
KRAFT HEINZ CO/THE KHC 0.02 132719 BBG005CPNTQ2 5446
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 149035 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 136360 BBG01BFR8YV1 2104
COPART INC CPRT 0.02 121798 BBG000BM9RH1 4213
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 94177.2 BBG00CMNZNK7 94177.2

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.