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 03/30/2026
TICKER RAA
NET ASSETS $538M
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 $27.11
30 DAY MEDIAN BID-ASK SPREAD 0.00073

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 1.99% 0.22% 5.06% 2.57% 4.84% - 17.62% 12.32%
RAA - Market Price 1.98% 0.23% 5.04% 2.59% 4.80% - 17.60% 12.36%
S&P 500 Index Total Return -0.76% 0.06% 0.74% 2.65% 0.68% - 16.88% 16.19%
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 03/30/2026

NET ASSET VALUE

$27.11

CLOSING PRICE

$27.11

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 Q1 2025 Q3 2025 Q4 2026 Q1 2025 Q2
Premium 23 47 39 35 54
Discount 0 13 16 8 5

Asset Allocation

As of 3/30/2026

Equities

43.60%
Nasdaq
17.57%
US Large Cap
14.73%
Dividend Payers
4.71%
US Small Cap
1.95%
Japan
1.87%
Emerging Ex. China
1.83%
Europe
0.94%

Fixed Income

32.24%
Corporate Bonds
9.25%
High Yield
8.25%
Long Term Treasuries
5.07%
Emerging Mkt Bonds
5.05%
TIPS
3.13%
T-Bills
1.49%

Alternatives

24.16%
Managed Futures
7.14%
Energy
4.53%
Miners
4.35%
Gold
3.62%
Commodities
2.50%
Real Estate
2.02%
Bitcoin
0.00%

Holdings

As of 03/30/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.73 79183300 BBG00RYR67P4 653274
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.25 49742500 BBG000PWYVH7 604405
SCHWAB HIGH YIELD BOND ETF SCYB 8.25 44366100 BBG01F80WX71 1721620
iM DBi Managed Futures Strategy ETF DBMF 7.14 38404000 N/A 1271240
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.07 27272900 BBG00PZFJPC3 867460
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.05 27153500 BBG000NXKWH0 291628
SPROTT PHYSICAL GOLD TRUS PHYS 3.62 19475200 BBG000Q83F79 570451
SCHWAB U.S. TIPS ETF SCHP 3.13 16835300 BBG000BGN6P5 633383
INVESCO OPTIMUM YIELD DIVERS PDBC 2.50 13416600 N/A 766665
VANGUARD SMALL-CAP ETF VB 1.95 10494000 BBG000HT3Z79 41341
Franklin FTSE Japan ETF FLJP 1.87 10059000 BBG00J3MDY16 287894
ISHARES MSCI EMR MRK EX CHNA EMXC 1.83 9830620 BBG00H5VLMJ6 130138
NVIDIA CORP NVDA 1.53 8223810 BBG000BBJQV0 49790
APPLE INC AAPL 1.38 7408270 BBG000B9XRY4 30038
ISHARES MSCI GLOBAL METALS & PICK 1.06 5711560 BBG002GKR8T5 105907
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.06 5689030 BBG01922X0X9 114100
MICROSOFT CORP MSFT 1.01 5425320 BBG000BPH459 15114
Franklin FTSE Europe ETF FLEE 0.94 5064070 BBG00J3PR1S7 143918
AMAZON.COM INC AMZN 0.80 4277420 BBG000BVPV84 21286
CHEVRON CORP CVX 0.67 3596400 BBG000K4ND22 17068
Tesla Inc. TSLA 0.67 3603960 BBG000N9MNX3 10144
WAL-MART STORES INC WMT 0.60 3235950 BBG000BWXBC2 26202
META PLATFORMS INC META 0.60 3204870 BBG000MM2P62 5975
ALPHABET INC-CL A GOOGL 0.59 3169040 BBG009S39JX6 11587
ALPHABET INC-CL C GOOG 0.55 2941170 BBG009S3NB30 10768
OCCIDENTAL PETROLEUM CORP OXY 0.53 2872170 BBG000BQQ2S6 43360
Cheniere Energy Inc LNG 0.53 2850360 BBG000C3HSR0 9707
MARATHON PETROLEUM CORP MPC 0.53 2860280 BBG001DCCGR8 11667
Broadcom Inc. AVGO 0.52 2780650 BBG00KHY5S69 9477
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.50 2665130 BBG000BRK7L6 40393
BHP GROUP LTD BHP 0.50 2707860 BBG000BD5NZ4 39233
CANADIAN NATURAL RESOURCES CNQ 0.48 2586250 BBG000HW5GX3 52385
EXXON MOBIL CORP XOM 0.48 2585420 BBG000GZQ728 15078
COSTCO WHOLESALE CORP COST 0.45 2400760 BBG000F6H8W8 2409
EQT CORP EQT 0.44 2385500 BBG000BHZ5J9 37019
ISHARES MSCI GLOBAL GOLD MIN RING 0.44 2351580 BBG002GKR6T9 31761
SCHLUMBERGER LTD SLB 0.43 2298340 BBG000BT41Q8 44602
WILLIAMS COMPANIES INC. WMB 0.41 2204680 BBG000BWVCP8 30422
MICRON TECHNOLOGY INC MU 0.37 2007390 BBG000C5Z1S3 6238
NETFLIX INC NFLX 0.36 1928660 BBG000CL9VN6 20745
FREEPORT-MCMORAN INC FCX 0.34 1812410 BBG000BJDB15 33164
AUTOMATIC DATA PROCESSING ADP 0.34 1820670 BBG000JG0547 8861
REALTY INCOME CORP O 0.33 1793940 BBG000DHPN63 29467
ADVANCED MICRO DEVICES INC AMD 0.33 1793370 BBG000BBQCY0 9148
NEWMONT GOLDCORP CORPORATION COM NEM 0.33 1795940 BBG000BPWXK1 17416
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.32 1732170 BBG000N7QR55 12593
CISCO SYSTEMS INC CSCO 0.31 1667450 BBG000C3J3C9 21644
AGNICO EAGLE MINES LTD AEM 0.31 1656330 BBG000DLVDK3 8633
RIO TINTO PLC-SPON ADR RIO 0.30 1593160 BBG000FD28T3 17937
TARGET CORP TGT 0.28 1495080 BBG000H8TVT2 12587
FASTENAL CO FAST 0.27 1427240 BBG000BJ8YN7 31632
WELLTOWER INC WELL 0.27 1425690 BBG000BKY1G5 7300
APPLIED MATERIALS INC AMAT 0.26 1424310 BBG000BBPFB9 4408
LAM RESH CORP LRCX 0.26 1393910 BBG000BNFLM9 6972
AIR PRODUCTS & CHEMICALS INC APD 0.25 1352550 BBG000BC4JJ4 4639
T ROWE PRICE GROUP INC TROW 0.25 1353790 BBG000BVMPN3 15206
KENVUE INC KVUE 0.24 1289020 BBG01C79X561 74769
HORMEL FOODS CORP HRL 0.24 1271990 BBG000BLF8D2 55256
LINDE PLC LIN 0.24 1266620 BBG01FND0CC1 2537
EVERSOURCE ENERGY ES 0.24 1286180 BBG000BQ87N0 18801
ABBVIE INC ABBV 0.24 1315800 BBG0025Y4RY4 6174
PROLOGIS INC PLD 0.24 1276600 BBG000B9Z0J8 9913
T-MOBILE US INC TMUS 0.24 1293910 BBG000NDV1D4 6048
Kimberly-Clark Corp KMB 0.23 1235300 BBG000BMW2Z0 12821
FRANKLIN RESOURCES INC BEN 0.23 1223000 BBG000BD0TF8 54163
ILLINOIS TOOL WORKS ITW 0.23 1249730 BBG000BMBL90 4909
PEPSICO INC PEP 0.22 1164230 BBG000DH7JK6 7424
GENUINE PARTS CO GPC 0.22 1176020 BBG000BKL348 11270
STANLEY BLACK & DECKER INC SWK 0.21 1119780 BBG000BTQR96 16609
Barrick Mining Corp. B 0.21 1125430 N/A 29270
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1118790 N/A 29356.8
INTEL CORP INTC 0.20 1083260 BBG000C0G1D1 26299
GLENCORE PLC -UNSP ADR GLNCY 0.20 1095790 BBG001VKX1Z1 75886
EQUINIX INC EQIX 0.19 1013220 BBG000MBDGM6 1051
MEDTRONIC PLC MDT 0.19 1038910 BBG000BNWG87 12117
CLOROX COMPANY CLX 0.19 1009040 BBG000BFS7D3 9852
AMGEN INC AMGN 0.19 1007210 BBG000BBS2Y0 2886
TEXAS INSTRUMENTS INC TXN 0.18 949996 BBG000BVV7G1 5096
FRANCO-NEVADA CORP FNV 0.18 994202 BBG000RD3CL8 4256
KLA CORPORATION KLAC 0.18 980249 BBG000BMTFR4 709
International Business Machines Corporation IBM 0.18 986011 BBG000BLNNH6 4156
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.17 908842 BBG000PVRDL2 7357
VALE SA-SP ADR VALE 0.17 900564 BBG000BN5LG7 59640
GILEAD SCIENCES INC GILD 0.17 900662 BBG000CKGBP2 6606
INTUITIVE SURGICAL INC ISRG 0.16 883817 BBG000BJPDZ1 1952
SHOPIFY INC - CLASS A SHOP 0.15 791890 BBG008HBD923 7085
ANALOG DEVICES INC ADI 0.15 819582 BBG000BB6G37 2704
HONEYWELL INTERNATIONAL INC HON 0.14 775699 BBG000H556T9 3471
QUALCOMM INC QCOM 0.14 763945 BBG000CGC1X8 6012
DIGITAL REALTY TRUST INC DLR 0.14 730676 BBG000Q5ZRM7 4171
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 743992 N/A 36686
PALO ALTO NETWORKS INC PANW 0.13 695501 BBG0014GJCT9 4506
BOOKING HOLDINGS INC BKNG 0.13 716447 BBG000BLBVN4 174
SIMON PROPERTY GROUP INC SPG 0.13 706242 BBG000BJ2D31 3873
INTUIT INC INTU 0.12 635393 BBG000BH5DV1 1481
APPLOVIN CORP APP 0.12 638861 BBG006HFPX77 1717
PUBLIC STORAGE PSA 0.11 581430 BBG000BPPN67 2193
COMCAST CORP-CLASS A CMCSA 0.11 573434 BBG000BFT2L4 19842
CONSTELLATION ENERGY CORPORATION CEG 0.11 585276 BBG014KFRNP7 1960
VERTEX PHARMACEUTICALS INC VRTX 0.11 588073 BBG000C1S2X2 1327
ASML HOLDING NV-NY REG SHS ASML 0.11 591869 BBG000K6MRN4 472
Cash & Other Cash&Other 0.10 527358 N/A 527358
Ventas Inc. VTR 0.10 530881 BBG000FRVHB9 6546
CINCINNATI FINANCIAL CORP CINF 0.10 538241 BBG000BFPK65 3441
ADOBE SYSTEMS INC ADBE 0.10 544713 BBG000BB5006 2259
STARBUCKS CORP SBUX 0.10 541827 BBG000CTQBF3 6248
Crowdstrike Holdings Inc. Class A CRWD 0.10 541205 BBG00BLYKS03 1424
WESTERN DIGITAL CORP WDC 0.09 471881 BBG000BWNFZ9 1875
Marriott International, Inc Class A MAR 0.09 483755 BBG000BGD7W6 1515
VICI PROPERTIES INC REIT VICI 0.09 459243 BBG00HVVB499 16940
MONDELEZ INTERNATIONAL INC-A MDLZ 0.08 405867 BBG000D4LWF6 7028
REGENERON PHARMACEUTICALS REGN 0.08 406864 BBG000C734W3 543
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.08 428392 BBG0113JGQF0 1182
MERCADOLIBRE INC MELI 0.08 433946 BBG000GQPB11 268
CSX CORP CSX 0.08 411540 BBG000BGJRC8 10348
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 419556 BBG00ZXBJ153 4778
OREILLY AUTOMOTIVE INC ORLY 0.08 415785 BBG000BGYWY6 4514
Warner Bros Discovery Inc WBD 0.07 372298 BBG011386VF4 13743
CADENCE DESIGN SYS INC CDNS 0.07 394130 BBG000C13CD9 1455
IRON MOUNTAIN INC IRM 0.07 353605 BBG000KCZPC3 3623
EQUITY RESIDENTIAL EQR 0.07 366769 BBG000BG8M31 6261
ROSS STORES INC ROST 0.07 378119 BBG000BSBZH7 1811
EXTRA SPACE STORAGE INC EXR 0.07 383942 BBG000PV27K3 2993
CINTAS CORP CTAS 0.07 364812 BBG000H3YXF8 2163
MONSTER BEVERAGE CORP MNST 0.07 378709 BBG008NVB1C0 5310
SYNOPSYS INC SNPS 0.07 398082 BBG000BSFRF3 1039
AVALONBAY COMMUNITIES INC AVB 0.07 355510 BBG000BLPBL5 2225
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 364646 BBG00LBLDDR2 3705
AMERICAN ELECTRIC POWER AEP 0.07 377101 BBG000BB9KF2 2876
PACCAR INC PCAR 0.06 324588 BBG000BQVTF5 2886
Baker Hughes Company BKR 0.06 322636 BBG00GBVBK51 5317
DOORDASH INC CLASS A DASH 0.06 329174 BBG005D7QCJ3 2224
FORTINET INC FTNT 0.06 334540 BBG000BCMBG4 4232
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.06 311597 BBG00CMNZNK7 311597
CONSOLIDATED EDISON INC ED 0.06 309781 BBG000BHLYS1 2732
DIAMONDBACK ENERGY INC FANG 0.06 305126 BBG002PHSYX9 1536
XCEL ENERGY INC XEL 0.05 253407 BBG000BCTQ65 3201
EXELON CORP EXC 0.05 263721 BBG000J6XT05 5370
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 261089 BBG000C30L48 261
ESSEX PROPERTY TRUST INC ESS 0.05 262342 BBG000CGJMB9 1093
AIRBNB INC ABNB 0.05 288054 BBG001Y2XS07 2340
NXP Semiconductors NV NXPI 0.05 261409 BBG000BND699 1395
MID-AMERICA APARTMENT COMM MAA 0.05 255247 BBG000BLMY92 2097
JOHNSON & JOHNSON JNJ 0.05 276196 BBG000BMHYD1 1139
INVITATION HOMES INC REIT USD.01 INVH 0.05 267194 BBG00FQH6BS9 10787
AUTODESK INC ADSK 0.05 263255 BBG000BM7HL0 1117
FERROVIAL SE FER 0.05 247840 BBG01H7CZ9S9 3982
MCDONALDS CORP MCD 0.05 258240 BBG000BNSZP1 837
ELECTRONIC ARTS INC EA 0.05 277723 BBG000BP0KQ8 1371
Sun Communities Inc SUI 0.04 209259 BBG000BLJWF3 1673
ROPER TECHNOLOGIES INC ROP 0.04 200614 BBG000F1ZSN5 570
AO Smith Corp AOS 0.04 234533 BBG000BC1L02 3683
PAYPAL HOLDINGS INC PYPL 0.04 226120 BBG0077VNXV6 5062
Old Dominion Freight Line Inc. ODFL 0.04 213279 BBG000CHSS88 1124
Omega Healthcare Investors Inc OHI 0.04 204668 BBG000BGBTC2 4641
PPG INDUSTRIES INC PPG 0.04 239617 BBG000BRJ809 2308
IDEXX LABS IDXX 0.04 232864 BBG000BLRT07 418
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 196169 BBG000BS1YV5 1016
KEURIG DR PEPPER INC KDP 0.04 197793 BBG000TJM7F0 7478
KIMCO REALTY CORP KIM 0.04 214451 BBG000CN3S73 9608
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 231369 N/A 2540
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 215889 BBG000BFGNJ5 683
Datadog Inc. Class A DDOG 0.04 213554 BBG003NJHZT9 1844
W. P. CAREY REIT INC WPC 0.04 200806 BBG000BCQM58 2998
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 229192 BBG00B6BFWH9 2515
INSMED INC INSM 0.03 180151 BBG000BWM5P3 1175
PAYCHEX INC PAYX 0.03 180467 BBG000BQSQ38 1938
MICROCHIP TECHNOLOGY INC MCHP 0.03 185105 BBG000BHCP19 3082
KRAFT HEINZ CO/THE KHC 0.03 149142 BBG005CPNTQ2 6676
AXON ENTERPRISE INC AXON 0.03 174744 BBG000BHJWG1 421
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 167671 BBG000BBDV81 2746
VERISK ANALYTICS INC VRSK 0.03 134524 BBG000BCZL41 718
Zscaler Inc. ZS 0.03 136711 BBG003338H34 996
CHARTER COMMUNICATIONS INC-A CHTR 0.03 150460 BBG000VPGNR2 681
WORKDAY INC-CLASS A WDAY 0.03 158001 BBG000VC0T95 1227
COPART INC CPRT 0.03 168365 BBG000BM9RH1 5163
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 176670 BBG01BFR8YV1 2569
DEXCOM INC DXCM 0.03 137975 BBG000QTF8K1 2229
MICROSTRATEGY INC-CL A MSTR 0.03 179974 BBG000GQJPZ0 1482
COSTAR GROUP INC CSGP 0.02 93860.5 BBG000D7JKW9 2296
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 65408.6 BBG01BGWHFR5 978
ASTRAZENECA PLC AZNCF 0.00 581.64 BBG000D3MHB4 3

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.