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 06/17/2026
TICKER RAA
NET ASSETS $592M
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 $29.61
30 DAY MEDIAN BID-ASK SPREAD 0.000669

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 06/17/2026

NET ASSET VALUE

$29.61

CLOSING PRICE

$29.61

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 35
Discount 5 13 16 8 12

Asset Allocation

As of 6/17/2026

Equities

42.37%
Nasdaq
16.94%
US Large Cap
15.08%
Dividend Payers
3.14%
Japan
2.08%
Emerging Ex. China
2.06%
US Small Cap
2.05%
Europe
1.02%

Fixed Income

19.45%
High Yield
6.12%
Emerging Mkt Bonds
4.10%
Corporate Bonds
4.07%
TIPS
3.03%
T-Bills
1.10%
Long Term Treasuries
1.03%

Alternatives

38.18%
Managed Futures
10.17%
Commodities
9.65%
Energy
4.91%
Gold
4.75%
Miners
4.00%
Bitcoin
2.64%
Real Estate
2.06%

Holdings

As of 06/17/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.08 89326500 BBG00RYR67P4 628440
INVESCO OPTIMUM YIELD DIVERS PDBC 9.65 57166400 N/A 3456250
iM DBi Managed Futures Strategy ETF DBMF 9.15 54200000 N/A 1767200
SCHWAB HIGH YIELD BOND ETF SCYB 6.12 36218100 BBG01F80WX71 1387140
SPROTT PHYSICAL GOLD TRUS PHYS 4.75 28111200 BBG000Q83F79 880125
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.10 24276000 BBG000NXKWH0 252140
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.07 24114900 BBG000PWYVH7 293297
SCHWAB U.S. TIPS ETF SCHP 3.03 17955000 BBG000BGN6P5 680115
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.64 15623400 N/A 550314
Franklin FTSE Japan ETF FLJP 2.08 12331700 BBG00J3MDY16 304937
ISHARES MSCI EMR MRK EX CHNA EMXC 2.06 12226300 BBG00H5VLMJ6 120148
VANGUARD SMALL-CAP ETF VB 2.05 12124300 BBG000HT3Z79 41370
NVIDIA CORP NVDA 1.37 8128490 BBG000BBJQV0 39719
APPLE INC AAPL 1.22 7200760 BBG000B9XRY4 24331
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.03 6094140 BBG00PZFJPC3 195200
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.03 6089980 BBG01922X0X9 121946
Franklin FTSE Europe ETF FLEE 1.02 6056020 BBG00J3PR1S7 154677
Simplify DBi CTA Managed Futures Index ETF SDMF 1.02 6023040 BBG020BR8WR7 236230
MICRON TECHNOLOGY INC MU 0.86 5092850 BBG000C5Z1S3 4882
BHP GROUP LTD BHP 0.82 4839950 BBG000BD5NZ4 53563
MICROSOFT CORP MSFT 0.73 4328290 BBG000BPH459 11423
AMAZON.COM INC AMZN 0.71 4223700 BBG000BVPV84 17784
ADVANCED MICRO DEVICES INC AMD 0.65 3843600 BBG000BBQCY0 7500
ALPHABET INC-CL A GOOGL 0.60 3549860 BBG009S39JX6 9758
CHEVRON CORP CVX 0.59 3484120 BBG000K4ND22 19620
Tesla Inc. TSLA 0.56 3287180 BBG000N9MNX3 8293
ALPHABET INC-CL C GOOG 0.56 3297640 BBG009S3NB30 9107
Cheniere Energy Inc LNG 0.52 3108760 BBG000C3HSR0 13434
WILLIAMS COMPANIES INC. WMB 0.51 3023280 BBG000BWVCP8 42432
MARATHON PETROLEUM CORP MPC 0.50 2977880 BBG001DCCGR8 12174
EXXON MOBIL CORP XOM 0.50 2942310 BBG000GZQ728 20906
INTEL CORP INTC 0.48 2813760 BBG000C0G1D1 23235
CANADIAN NATURAL RESOURCES CNQ 0.48 2867300 BBG000HW5GX3 67593
OCCIDENTAL PETROLEUM CORP OXY 0.48 2853710 BBG000BQQ2S6 53803
EQT CORP EQT 0.48 2820940 BBG000BHZ5J9 55172
Broadcom Inc. AVGO 0.48 2866600 BBG00KHY5S69 7296
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.47 2755690 BBG000BRK7L6 48964
SCHLUMBERGER LTD SLB 0.47 2784260 BBG000BT41Q8 55320
NEWMONT GOLDCORP CORPORATION COM NEM 0.47 2796980 BBG000BPWXK1 26469
META PLATFORMS INC META 0.47 2791360 BBG000MM2P62 4918
WAL-MART STORES INC WMT 0.46 2717940 BBG000BWXBC2 23008
RIO TINTO PLC-SPON ADR RIO 0.44 2626910 BBG000FD28T3 25586
LAM RESH CORP LRCX 0.36 2120100 BBG000BNFLM9 5666
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.36 2126470 BBG00CMNZNK7 2126470
FREEPORT-MCMORAN INC FCX 0.36 2111160 BBG000BJDB15 30570
APPLIED MATERIALS INC AMAT 0.35 2058030 BBG000BBPFB9 3471
CISCO SYSTEMS INC CSCO 0.35 2082140 BBG000C3J3C9 17746
COSTCO WHOLESALE CORP COST 0.35 2046090 BBG000F6H8W8 2119
AGNICO EAGLE MINES LTD AEM 0.35 2053220 BBG000DLVDK3 11869
GLENCORE PLC -UNSP ADR GLNCY 0.31 1812260 BBG001VKX1Z1 119779
REALTY INCOME CORP O 0.26 1557500 BBG000DHPN63 25714
WELLTOWER INC WELL 0.26 1514630 BBG000BKY1G5 7333
Barrick Mining Corp. B 0.26 1537560 N/A 37238
NETFLIX INC NFLX 0.25 1488870 BBG000CL9VN6 19346
PROLOGIS INC PLD 0.24 1434060 BBG000B9Z0J8 10175
KLA CORPORATION KLAC 0.23 1344770 BBG000BMTFR4 5633
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.23 1333410 N/A 49477
SANDISK CORP/DE SNDKV SNDK 0.22 1281060 BBG01R388JG1 654
AUTOMATIC DATA PROCESSING ADP 0.22 1295280 BBG000JG0547 5921
NUCOR CORP NUE 0.21 1233950 BBG000BQ8KV2 4885
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1255100 BBG000PVRDL2 9973
TEXAS INSTRUMENTS INC TXN 0.21 1268800 BBG000BVV7G1 4203
EQUINIX INC EQIX 0.21 1239820 BBG000MBDGM6 1139
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.20 1196050 BBG000N7QR55 9156
WESTERN DIGITAL CORP WDC 0.18 1085290 BBG000BWNFZ9 1524
LINDE PLC LIN 0.18 1092570 BBG01FND0CC1 2118
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.18 1049010 BBG0113JGQF0 984
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1082590 BBG00ZXBJ153 3739
QUALCOMM INC QCOM 0.17 993292 BBG000CGC1X8 4664
FRANCO-NEVADA CORP FNV 0.17 1017330 BBG000RD3CL8 4483
VALE SA-SP ADR VALE 0.17 980890 BBG000BN5LG7 63161
PALO ALTO NETWORKS INC PANW 0.17 985762 BBG0014GJCT9 3494
KENVUE INC KVUE 0.16 940626 BBG01C79X561 52228
Kimberly-Clark Corp KMB 0.16 933727 BBG000BMW2Z0 9202
HORMEL FOODS CORP HRL 0.16 944710 BBG000BLF8D2 38829
MEDTRONIC PLC MDT 0.16 954636 BBG000BNWG87 12217
FRANKLIN RESOURCES INC BEN 0.16 971535 BBG000BD0TF8 29184
CLOROX COMPANY CLX 0.16 940108 BBG000BFS7D3 9899
STANLEY BLACK & DECKER INC SWK 0.16 940983 BBG000BTQR96 11410
ILLINOIS TOOL WORKS ITW 0.16 961944 BBG000BMBL90 3670
T ROWE PRICE GROUP INC TROW 0.16 938157 BBG000BVMPN3 8677
T-MOBILE US INC TMUS 0.16 920148 BBG000NDV1D4 5075
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 953121 N/A 23378
ANALOG DEVICES INC ADI 0.16 935414 BBG000BB6G37 2257
PEPSICO INC PEP 0.15 893008 BBG000DH7JK6 6307
EVERSOURCE ENERGY ES 0.15 880871 BBG000BQ87N0 12757
SIMON PROPERTY GROUP INC SPG 0.15 868820 BBG000BJ2D31 4140
GENUINE PARTS CO GPC 0.14 835270 BBG000BKL348 7871
AMGEN INC AMGN 0.14 843559 BBG000BBS2Y0 2469
PUBLIC STORAGE PSA 0.13 740502 BBG000BPPN67 2369
AO Smith Corp AOS 0.13 787978 BBG000BC1L02 13614
PPG INDUSTRIES INC PPG 0.13 791164 BBG000BRJ809 6754
DIGITAL REALTY TRUST INC DLR 0.13 778440 BBG000Q5ZRM7 4161
ABBVIE INC ABBV 0.13 781606 BBG0025Y4RY4 3533
GILEAD SCIENCES INC GILD 0.12 714563 BBG000CKGBP2 5696
J M Smucker Co COM STK NPV SJM 0.12 724525 BBG000BT1715 6414
International Business Machines Corporation IBM 0.12 715953 BBG000BLNNH6 2729
Crowdstrike Holdings Inc. Class A CRWD 0.12 723938 BBG00BLYKS03 1060
ASML HOLDING NV-NY REG SHS ASML 0.12 732189 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 652435 BBG000FRVHB9 7942
HONEYWELL INTERNATIONAL INC HON 0.11 653367 BBG000H556T9 2858
INTUITIVE SURGICAL INC ISRG 0.11 649118 BBG000BJPDZ1 1614
APPLOVIN CORP APP 0.11 658819 BBG006HFPX77 1374
SHOPIFY INC - CLASS A SHOP 0.10 578065 BBG008HBD923 5348
IRON MOUNTAIN INC IRM 0.10 603116 BBG000KCZPC3 4808
BOOKING HOLDINGS INC BKNG 0.10 617353 BBG000BLBVN4 3597
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 521519 BBG000BBTJZ1 2353
VERTEX PHARMACEUTICALS INC VRTX 0.09 527838 BBG000C1S2X2 1150
STARBUCKS CORP SBUX 0.09 534336 BBG000CTQBF3 5353
CADENCE DESIGN SYS INC CDNS 0.08 478429 BBG000C13CD9 1228
Marriott International, Inc Class A MAR 0.08 480635 BBG000BGD7W6 1218
EXTRA SPACE STORAGE INC EXR 0.08 482852 BBG000PV27K3 3355
FORTINET INC FTNT 0.08 458653 BBG000BCMBG4 3182
VICI PROPERTIES INC REIT VICI 0.08 463642 BBG00HVVB499 17313
FASTENAL CO FAST 0.07 422276 BBG000BJ8YN7 9409
EQUITY RESIDENTIAL EQR 0.07 421388 BBG000BG8M31 6520
CONSTELLATION ENERGY CORPORATION CEG 0.07 441098 BBG014KFRNP7 1651
MONSTER BEVERAGE CORP MNST 0.07 410270 BBG008NVB1C0 4476
CSX CORP CSX 0.07 398965 BBG000BGJRC8 8755
SYNOPSYS INC SNPS 0.07 410487 BBG000BSFRF3 889
AVALONBAY COMMUNITIES INC AVB 0.07 417101 BBG000BLPBL5 2322
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 354266 BBG000D4LWF6 5821
COMCAST CORP-CLASS A CMCSA 0.06 377743 BBG000BFT2L4 16648
ADOBE SYSTEMS INC ADBE 0.06 341527 BBG000BB5006 1740
NXP Semiconductors NV NXPI 0.06 349192 BBG000BND699 1171
ROSS STORES INC ROST 0.06 329349 BBG000BSBZH7 1412
MERCADOLIBRE INC MELI 0.06 376950 BBG000GQPB11 231
OREILLY AUTOMOTIVE INC ORLY 0.06 343522 BBG000BGYWY6 3886
PACCAR INC PCAR 0.05 282789 BBG000BQVTF5 2410
Warner Bros Discovery Inc WBD 0.05 300947 BBG011386VF4 11469
ESSEX PROPERTY TRUST INC ESS 0.05 302938 BBG000CGJMB9 1104
Baker Hughes Company BKR 0.05 270375 BBG00GBVBK51 4501
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 324399 BBG000C30L48 224
DOORDASH INC CLASS A DASH 0.05 297857 BBG005D7QCJ3 1798
REGENERON PHARMACEUTICALS REGN 0.05 285119 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 293134 BBG00FQH6BS9 10289
INTUIT INC INTU 0.05 322896 BBG000BH5DV1 1200
CINTAS CORP CTAS 0.05 316379 BBG000H3YXF8 1865
Datadog Inc. Class A DDOG 0.05 318189 BBG003NJHZT9 1404
LUMENTUM HOLDINGS INC LITE 0.05 288833 BBG0073F9RT7 332
AMERICAN ELECTRIC POWER AEP 0.05 325421 BBG000BB9KF2 2537
XCEL ENERGY INC XEL 0.04 219986 BBG000BCTQ65 2840
Sun Communities Inc SUI 0.04 241606 BBG000BLJWF3 1982
MICROCHIP TECHNOLOGY INC MCHP 0.04 233393 BBG000BHCP19 2480
HOST HOTELS & RESORTS INC HST 0.04 258658 BBG000BL8804 10506
ARM HOLDINGS PLC ARM 0.04 258868 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 219463 BBG000J6XT05 4817
AIRBNB INC ABNB 0.04 265902 BBG001Y2XS07 1892
MID-AMERICA APARTMENT COMM MAA 0.04 248516 BBG000BLMY92 1867
KIMCO REALTY CORP KIM 0.04 246688 BBG000CN3S73 10073
FERROVIAL SE FER 0.04 225916 BBG01H7CZ9S9 3287
DIAMONDBACK ENERGY INC FANG 0.04 240197 BBG002PHSYX9 1295
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 233191 BBG00LBLDDR2 2920
W. P. CAREY REIT INC WPC 0.04 236192 BBG000BCQM58 3270
ELECTRONIC ARTS INC EA 0.04 226164 BBG000BP0KQ8 1114
PAYCHEX INC PAYX 0.03 152518 BBG000BQSQ38 1563
PAYPAL HOLDINGS INC PYPL 0.03 176988 BBG0077VNXV6 4206
ROPER TECHNOLOGIES INC ROP 0.03 153106 BBG000F1ZSN5 464
Old Dominion Freight Line Inc. ODFL 0.03 203075 BBG000CHSS88 930
AXON ENTERPRISE INC AXON 0.03 153553 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 182856 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 198231 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 190861 BBG000BS1YV5 837
KEURIG DR PEPPER INC KDP 0.03 194422 BBG000TJM7F0 6294
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 187886 BBG000B9ZXB4 2123
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 175569 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 188629 BBG000BM7HL0 977
MCDONALDS CORP MCD 0.03 183348 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 184216 BBG000BHLYS1 1721
MICROSTRATEGY INC-CL A MSTR 0.03 158405 BBG000GQJPZ0 1359
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.03 206671 BBG00B6BFWH9 2128
THOMSON REUTERS CORP TRI 0.03 150496 N/A 1899
KRAFT HEINZ CO/THE KHC 0.02 128041 BBG005CPNTQ2 5519
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 102034 BBG000BBDV81 2090
Zscaler Inc. ZS 0.02 113310 BBG003338H34 911
VERISK ANALYTICS INC VRSK 0.02 115030 BBG000BCZL41 656
WORKDAY INC-CLASS A WDAY 0.02 103190 BBG000VC0T95 847
COPART INC CPRT 0.02 130301 BBG000BM9RH1 4414
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 130188 BBG01BFR8YV1 2129
DEXCOM INC DXCM 0.02 117957 BBG000QTF8K1 1656
INSMED INC INSM 0.02 94708.9 BBG000BWM5P3 962
CHARTER COMMUNICATIONS INC-A CHTR 0.01 78540 BBG000VPGNR2 595
EURO EUR 0.00 1969.05 N/A 1713.03
Cash & Other Cash&Other -0.31 -1839190 N/A -1839190

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.