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 10/21/2026
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 $30.26
30 DAY MEDIAN BID-ASK SPREAD 0.000665

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
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 10/21/2026

NET ASSET VALUE

$30.26

CLOSING PRICE

$30.27

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

Asset Allocation

As of 10/21/2026

Equities

41.39%
Nasdaq
17.40%
US Large Cap
15.06%
US Small Cap
3.00%
Dividend Payers
2.08%
Emerging Ex. China
1.88%
Europe
1.00%
Japan
0.97%

Fixed Income

29.08%
Long Term Treasuries
8.15%
Corporate Bonds
5.99%
High Yield
5.93%
Emerging Mkt Bonds
3.99%
TIPS
3.01%
T-Bills
2.01%

Alternatives

29.53%
Commodities
10.23%
Energy
5.47%
Managed Futures
5.01%
Miners
3.85%
Real Estate
2.01%
Gold
1.97%
Bitcoin
0.99%

Holdings

As of 10/21/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.06 92615000 BBG00RYR67P4 1874040
INVESCO OPTIMUM YIELD DIVERS PDBC 10.23 62925300 N/A 3149410
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.15 50112200 BBG00PZFJPC3 1715580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.99 36844200 BBG000PWYVH7 467625
SCHWAB HIGH YIELD BOND ETF SCYB 5.93 36468100 BBG01F80WX71 1453490
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.99 24549300 BBG000NXKWH0 268474
iM DBi Managed Futures Strategy ETF DBMF 3.52 21653600 N/A 657965
SCHWAB U.S. TIPS ETF SCHP 3.01 18495800 BBG000BGN6P5 726467
Vanguard Morningstar Small-Cap ETF VB 3.00 18461100 BBG000HT3Z79 63813
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 12195900 BBG01922X0X9 244114
SPROTT PHYSICAL GOLD TRUS PHYS 1.97 12143400 BBG000Q83F79 388713
ISHARES MSCI EMR MRK EX CHNA EMXC 1.88 11565800 BBG00H5VLMJ6 122779
Simplify DBi CTA Managed Futures Index ETF SDMF 1.49 9153050 BBG020BR8WR7 334053
NVIDIA CORP NVDA 1.43 8792010 BBG000BBJQV0 39609
APPLE INC AAPL 1.33 8160820 BBG000B9XRY4 23724
MICROSOFT CORP MSFT 1.05 6472680 BBG000BPH459 12145
Franklin FTSE Europe ETF FLEE 1.00 6141000 BBG00J3PR1S7 160627
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.99 6107020 N/A 163508
Franklin FTSE Japan ETF FLJP 0.97 5948130 BBG00J3MDY16 146074
BHP GROUP LTD BHP 0.80 4921700 BBG000BD5NZ4 60897
MICRON TECHNOLOGY INC MU 0.77 4720020 BBG000C5Z1S3 5166
AMAZON.COM INC AMZN 0.75 4635030 BBG000BVPV84 17666
ADVANCED MICRO DEVICES INC AMD 0.67 4112790 BBG000BBQCY0 7441
CHEVRON CORP CVX 0.61 3779290 BBG000K4ND22 16665
MARATHON PETROLEUM CORP MPC 0.58 3571620 BBG001DCCGR8 7632
Suncor Energy Inc. SU 0.57 3503350 BBG000BC1LY5 44335
META PLATFORMS INC META 0.57 3476440 BBG000MM2P62 4984
CANADIAN NATURAL RESOURCES CNQ 0.56 3455900 BBG000HW5GX3 63715
OCCIDENTAL PETROLEUM CORP OXY 0.56 3459970 BBG000BQQ2S6 55183
EQT CORP EQT 0.55 3357580 BBG000BHZ5J9 62097
Tesla Inc. TSLA 0.55 3357650 BBG000N9MNX3 8688
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.54 3316040 BBG023CY9MM1 18620
Cheniere Energy Inc LNG 0.53 3232430 BBG000C3HSR0 11373
WILLIAMS COMPANIES INC. WMB 0.53 3272000 BBG000BWVCP8 44945
ALPHABET INC-CL A GOOGL 0.52 3176540 BBG009S39JX6 9489
SCHLUMBERGER LTD SLB 0.51 3165130 BBG000BT41Q8 61940
SPACE EXPLORATION TECH CORP A SPCX 0.51 3117700 BBG000NQF3Z5 19570
NEWMONT GOLDCORP CORPORATION COM NEM 0.48 2948480 BBG000BPWXK1 25162
ALPHABET INC-CL C GOOG 0.48 2957370 BBG009S3NB30 8936
Broadcom Inc. AVGO 0.45 2752390 BBG00KHY5S69 8148
WAL-MART STORES INC WMT 0.44 2715290 BBG000BWXBC2 23050
FREEPORT-MCMORAN INC FCX 0.37 2294580 BBG000BJDB15 33303
AGNICO EAGLE MINES LTD AEM 0.36 2225090 BBG000DLVDK3 11876
INTEL CORP INTC 0.35 2160760 BBG000C0G1D1 23244
RIO TINTO PLC-SPON ADR RIO 0.35 2166050 BBG000FD28T3 24920
COSTCO WHOLESALE CORP COST 0.34 2113420 BBG000F6H8W8 2117
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.34 2096680 BBG000N7QR55 10394
CISCO SYSTEMS INC CSCO 0.31 1916840 BBG000C3J3C9 17871
WELLTOWER INC WELL 0.28 1711460 BBG000BKY1G5 7308
GLENCORE PLC -UNSP ADR GLNCY 0.26 1593460 BBG001VKX1Z1 107812
Barrick Mining Corp. B 0.26 1584220 N/A 38867
APPLIED MATERIALS INC AMAT 0.24 1502850 BBG000BBPFB9 3675
LAM RESH CORP LRCX 0.24 1491570 BBG000BNFLM9 5719
NUCOR CORP NUE 0.22 1354180 BBG000BQ8KV2 5119
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.22 1375490 BBG000PVRDL2 10407
PROLOGIS INC PLD 0.22 1324740 BBG000B9Z0J8 10382
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1281950 N/A 49862
TEXAS INSTRUMENTS INC TXN 0.20 1231400 BBG000BVV7G1 4326
REALTY INCOME CORP O 0.20 1235970 BBG000DHPN63 22330
NETFLIX INC NFLX 0.20 1248380 BBG000CL9VN6 19194
PEPSICO INC PEP 0.20 1227390 BBG000DH7JK6 9112
PALO ALTO NETWORKS INC PANW 0.20 1252880 BBG0014GJCT9 3608
AUTOMATIC DATA PROCESSING ADP 0.20 1220110 BBG000JG0547 4143
EQUINIX INC EQIX 0.18 1136290 BBG000MBDGM6 1142
AMGEN INC AMGN 0.18 1130920 BBG000BBS2Y0 2580
LINDE PLC LIN 0.18 1101750 BBG01FND0CC1 2201
Crowdstrike Holdings Inc. Class A CRWD 0.18 1103120 BBG00BLYKS03 4609
FRANCO-NEVADA CORP FNV 0.17 1064290 BBG000TRN6Z1 4371
KLA CORPORATION KLAC 0.17 1026670 BBG000BMTFR4 6282
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 978306 BBG00ZXBJ153 3997
VALE SA-SP ADR VALE 0.15 924750 BBG000BN5LG7 72815
GILEAD SCIENCES INC GILD 0.15 908827 BBG000CKGBP2 5918
SHOPIFY INC - CLASS A SHOP 0.15 949880 BBG004DW5NB8 5450
ANALOG DEVICES INC ADI 0.15 935738 BBG000BB6G37 2305
QUALCOMM INC QCOM 0.14 864174 BBG000CGC1X8 4856
SANDISK CORP/DE SNDKV SNDK 0.14 890330 BBG01R388JG1 646
SIMON PROPERTY GROUP INC SPG 0.14 846249 BBG000BJ2D31 4117
PUBLIC STORAGE PSA 0.13 779484 BBG000BPPN67 2613
DIGITAL REALTY TRUST INC DLR 0.13 807500 BBG000Q5ZRM7 4580
T-MOBILE US INC TMUS 0.13 802268 BBG000NDV1D4 5218
INTUITIVE SURGICAL INC ISRG 0.12 724807 BBG000BJPDZ1 1693
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 744278 BBG0113JGQF0 1068
Ventas Inc. VTR 0.12 727950 BBG000FRVHB9 8526
Vivmark Residential VMRK 0.12 736193 BBG000BG8M31 11876
KENVUE INC KVUE 0.11 649645 BBG01C79X561 34120
Kimberly-Clark Corp KMB 0.11 658715 BBG000BMW2Z0 6177
MEDTRONIC PLC MDT 0.11 650187 BBG000BNWG87 6989
STANLEY BLACK & DECKER INC SWK 0.11 646892 BBG000BTQR96 6778
International Business Machines Corporation IBM 0.11 658071 BBG000BLNNH6 2617
ABBVIE INC ABBV 0.11 667571 BBG0025Y4RY4 2344
ASML HOLDING NV-NY REG SHS ASML 0.11 695826 BBG000K6MRN4 415
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 654197 N/A 14451
AO Smith Corp AOS 0.10 631037 BBG000BC1L02 10579
WESTERN DIGITAL CORP WDC 0.10 638925 BBG000BWNFZ9 1688
HORMEL FOODS CORP HRL 0.10 629184 BBG000BLF8D2 30782
FRANKLIN RESOURCES INC BEN 0.10 600114 BBG000BD0TF8 18943
CLOROX COMPANY CLX 0.10 636284 BBG000BFS7D3 7506
T ROWE PRICE GROUP INC TROW 0.10 602904 BBG000BVMPN3 5837
VERTEX PHARMACEUTICALS INC VRTX 0.10 631522 BBG000C1S2X2 1204
FORTINET INC FTNT 0.10 596992 BBG000BCMBG4 3430
GENUINE PARTS CO GPC 0.09 573614 BBG000BKL348 4597
IRON MOUNTAIN INC IRM 0.09 568323 BBG000KCZPC3 4954
PPG INDUSTRIES INC PPG 0.09 529257 BBG000BRJ809 4804
BOOKING HOLDINGS INC BKNG 0.09 544669 BBG000BLBVN4 3439
ILLINOIS TOOL WORKS ITW 0.09 546957 BBG000BMBL90 1976
STARBUCKS CORP SBUX 0.09 546624 BBG000CTQBF3 5517
Marriott International, Inc Class A MAR 0.08 518332 BBG000BGD7W6 1283
CONSTELLATION ENERGY CORPORATION CEG 0.08 467026 BBG014KFRNP7 1725
EVERSOURCE ENERGY ES 0.08 520602 BBG000BQ87N0 7936
EXTRA SPACE STORAGE INC EXR 0.08 484230 BBG000PV27K3 3462
ADOBE SYSTEMS INC ADBE 0.08 485124 BBG000BB5006 1902
CADENCE DESIGN SYS INC CDNS 0.07 406609 BBG000C13CD9 1247
ARM HOLDINGS PLC ARM 0.07 457259 BBG01J1GXZF0 2018
MERCADOLIBRE INC MELI 0.07 439607 BBG000GQPB11 237
MONSTER BEVERAGE CORP MNST 0.07 445550 BBG008NVB1C0 9555
INTUIT INC INTU 0.07 435622 BBG000BH5DV1 1298
VICI PROPERTIES INC REIT VICI 0.07 415334 BBG00HVVB499 17941
CSX CORP CSX 0.07 437052 BBG000BGJRC8 9030
CINTAS CORP CTAS 0.07 425550 BBG000H3YXF8 1933
SYNOPSYS INC SNPS 0.07 412839 BBG000BSFRF3 915
Datadog Inc. Class A DDOG 0.07 430663 BBG003NJHZT9 1577
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 389860 BBG000BBTJZ1 1597
COMCAST CORP-CLASS A CMCSA 0.06 381432 BBG000BFT2L4 17275
ROSS STORES INC ROST 0.06 357359 BBG000BSBZH7 1526
AIRBNB INC ABNB 0.06 357628 BBG001Y2XS07 2059
REGENERON PHARMACEUTICALS REGN 0.06 381888 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 362444 BBG005D7QCJ3 1965
APPLOVIN CORP APP 0.06 395688 BBG006HFPX77 1477
OREILLY AUTOMOTIVE INC ORLY 0.06 350734 BBG000BGYWY6 3932
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 386918 BBG000D4LWF6 6167
LUMENTUM HOLDINGS INC LITE 0.06 358995 BBG0073F9RT7 422
FASTENAL CO FAST 0.05 290322 BBG000BJ8YN7 5531
HOST HOTELS & RESORTS INC HST 0.05 288209 BBG000BL8804 11487
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 278480 BBG000C30L48 217
ESSEX PROPERTY TRUST INC ESS 0.05 289460 BBG000CGJMB9 1056
NXP Semiconductors NV NXPI 0.05 289863 BBG000BND699 1196
PACCAR INC PCAR 0.05 281833 BBG000BQVTF5 2557
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 283130 BBG00CMNZNK7 283130
AMERICAN ELECTRIC POWER AEP 0.05 334654 BBG000BB9KF2 2627
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 327463 BBG022XF4SZ9 1525
XCEL ENERGY INC XEL 0.04 231492 BBG000BCTQ65 3015
PAYPAL HOLDINGS INC PYPL 0.04 243558 BBG0077VNXV6 4258
ASTERA LABS INC ALAB 0.04 218125 BBG00TDKHW99 752
Omega Healthcare Investors Inc OHI 0.04 221361 BBG000BGBTC2 4980
Baker Hughes Company BKR 0.04 257320 BBG00GBVBK51 4595
TERADYNE INC TER 0.04 253590 BBG000BV4DR6 734
MID-AMERICA APARTMENT COMM MAA 0.04 224533 BBG000BLMY92 1908
KEURIG DR PEPPER INC KDP 0.04 227157 BBG000TJM7F0 6590
KIMCO REALTY CORP KIM 0.04 248784 BBG000CN3S73 10950
INVITATION HOMES INC REIT USD.01 INVH 0.04 265499 BBG00FQH6BS9 9903
DIAMONDBACK ENERGY INC FANG 0.04 265228 BBG002PHSYX9 1320
AUTODESK INC ADSK 0.04 247288 BBG000BM7HL0 1010
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 254108 BBG00LBLDDR2 3228
MICROSTRATEGY INC-CL A MSTR 0.04 232983 BBG000GQJPZ0 1518
W. P. CAREY REIT INC WPC 0.04 234262 BBG000BCQM58 3744
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 236351 BBG00B6BFWH9 2143
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 246127 BBG020QYV152 1515
MICROCHIP TECHNOLOGY INC MCHP 0.03 201593 BBG000BHCP19 2613
ROPER TECHNOLOGIES INC ROP 0.03 178504 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 157014 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 186633 BBG000CHSS88 988
HEALTHPEAK PROPERTIES INC DOC 0.03 213647 BBG000BKYDP9 11561
EXELON CORP EXC 0.03 211892 BBG000J6XT05 4922
IDEXX LABS IDXX 0.03 200360 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 195646 BBG000BS1YV5 949
FERROVIAL SA FER 0.03 173413 BBG01H0DF657 3466.88
WORKDAY INC-CLASS A WDAY 0.03 200322 BBG000VC0T95 987
Nebius Group NV NBIS 0.03 183580 BBG001NVJ6W4 1070
THOMSON REUTERS CORP TRI 0.03 210926 N/A 1830
PAYCHEX INC PAYX 0.03 193275 BBG000BQSQ38 1718
AIR PRODUCTS & CHEMICALS INC APD 0.02 130446 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 134281 BBG000B9ZXB4 1336
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 137311 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 150304 BBG01BFR8YV1 2178
COREWEAVE INC CRWV 0.02 132048 BBG011ZTRJ21 2136
COPART INC CPRT 0.02 121319 BBG000BM9RH1 4398
DEXCOM INC DXCM 0.02 148882 BBG000QTF8K1 1855
CONSOLIDATED EDISON INC ED 0.02 131388 BBG000BHLYS1 1175
MCDONALDS CORP MCD 0.02 128050 BBG000BNSZP1 520
ROCKET LAB CORP RKLB 0.02 149847 BBG01V7JN3F3 2792
Cash & Other Cash&Other -0.04 -223593 N/A -223593

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.