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 06/25/2026
TICKER RAA
NET ASSETS $585M
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 $29.28
30 DAY MEDIAN BID-ASK SPREAD 0.000674

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 06/25/2026

NET ASSET VALUE

$29.28

CLOSING PRICE

$29.26

PREMIUM/DISCOUNT

0.07%
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 37
Discount 5 13 16 8 14

Asset Allocation

As of 6/25/2026

Equities

42.60%
Nasdaq
16.99%
US Large Cap
15.12%
Dividend Payers
3.28%
US Small Cap
2.11%
Emerging Ex. China
2.08%
Japan
2.00%
Europe
1.02%

Fixed Income

19.91%
High Yield
6.20%
Emerging Mkt Bonds
4.16%
Corporate Bonds
4.15%
TIPS
3.08%
T-Bills
1.27%
Long Term Treasuries
1.05%

Alternatives

37.49%
Managed Futures
10.23%
Commodities
9.51%
Energy
4.93%
Gold
4.55%
Miners
3.68%
Bitcoin
2.46%
Real Estate
2.13%

Holdings

As of 06/25/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.12 88449100 BBG00RYR67P4 627655
INVESCO OPTIMUM YIELD DIVERS PDBC 9.51 55610600 N/A 3451930
iM DBi Managed Futures Strategy ETF DBMF 9.21 53867500 N/A 1764990
SCHWAB HIGH YIELD BOND ETF SCYB 6.20 36242100 BBG01F80WX71 1385400
SPROTT PHYSICAL GOLD TRUS PHYS 4.55 26634500 BBG000Q83F79 879025
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.16 24316200 BBG000NXKWH0 251825
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.15 24251800 BBG000PWYVH7 292931
SCHWAB U.S. TIPS ETF SCHP 3.08 18014100 BBG000BGN6P5 679265
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.46 14389200 N/A 549627
VANGUARD SMALL-CAP ETF VB 2.11 12342700 BBG000HT3Z79 41319
ISHARES MSCI EMR MRK EX CHNA EMXC 2.08 12191800 BBG00H5VLMJ6 119998
Franklin FTSE Japan ETF FLJP 2.00 11710300 BBG00J3MDY16 304556
NVIDIA CORP NVDA 1.33 7765010 BBG000BBJQV0 39670
APPLE INC AAPL 1.14 6686420 BBG000B9XRY4 24301
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.05 6156710 BBG00PZFJPC3 194956
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.04 6087260 BBG01922X0X9 121794
Franklin FTSE Europe ETF FLEE 1.02 5991410 BBG00J3PR1S7 154484
Simplify DBi CTA Managed Futures Index ETF SDMF 1.02 5960900 BBG020BR8WR7 235935
MICRON TECHNOLOGY INC MU 1.01 5917320 BBG000C5Z1S3 4876
BHP GROUP LTD BHP 0.74 4341820 BBG000BD5NZ4 53497
AMAZON.COM INC AMZN 0.69 4032150 BBG000BVPV84 17762
MICROSOFT CORP MSFT 0.69 4025440 BBG000BPH459 11409
ADVANCED MICRO DEVICES INC AMD 0.68 3989480 BBG000BBQCY0 7491
CHEVRON CORP CVX 0.58 3375220 BBG000K4ND22 19596
ALPHABET INC-CL A GOOGL 0.57 3349800 BBG009S39JX6 9746
WILLIAMS COMPANIES INC. WMB 0.56 3285640 BBG000BWVCP8 42379
Cheniere Energy Inc LNG 0.54 3154570 BBG000C3HSR0 13418
INTEL CORP INTC 0.53 3083380 BBG000C0G1D1 23206
Tesla Inc. TSLA 0.53 3107120 BBG000N9MNX3 8283
MARATHON PETROLEUM CORP MPC 0.53 3083040 BBG001DCCGR8 12159
ALPHABET INC-CL C GOOG 0.53 3112560 BBG009S3NB30 9096
EQT CORP EQT 0.49 2846120 BBG000BHZ5J9 55104
EXXON MOBIL CORP XOM 0.49 2872040 BBG000GZQ728 20880
OCCIDENTAL PETROLEUM CORP OXY 0.47 2751820 BBG000BQQ2S6 53736
Broadcom Inc. AVGO 0.47 2761120 BBG00KHY5S69 7287
CANADIAN NATURAL RESOURCES CNQ 0.46 2673360 BBG000HW5GX3 67509
META PLATFORMS INC META 0.46 2666580 BBG000MM2P62 4912
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.45 2658370 BBG000BRK7L6 48903
SCHLUMBERGER LTD SLB 0.45 2620000 BBG000BT41Q8 55251
WAL-MART STORES INC WMT 0.45 2660620 BBG000BWXBC2 22980
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2520670 BBG000BPWXK1 26436
RIO TINTO PLC-SPON ADR RIO 0.42 2430540 BBG000FD28T3 25555
APPLIED MATERIALS INC AMAT 0.40 2315960 BBG000BBPFB9 3467
LAM RESH CORP LRCX 0.39 2273900 BBG000BNFLM9 5659
CISCO SYSTEMS INC CSCO 0.36 2108620 BBG000C3J3C9 17724
COSTCO WHOLESALE CORP COST 0.34 1994720 BBG000F6H8W8 2117
FREEPORT-MCMORAN INC FCX 0.33 1917410 BBG000BJDB15 30532
AGNICO EAGLE MINES LTD AEM 0.32 1851510 BBG000DLVDK3 11855
GLENCORE PLC -UNSP ADR GLNCY 0.28 1640130 BBG001VKX1Z1 119630
WELLTOWER INC WELL 0.28 1638600 BBG000BKY1G5 7324
REALTY INCOME CORP O 0.27 1593310 BBG000DHPN63 25682
SANDISK CORP/DE SNDKV SNDK 0.26 1527090 BBG01R388JG1 654
KLA CORPORATION KLAC 0.25 1456010 BBG000BMTFR4 5626
PROLOGIS INC PLD 0.24 1428210 BBG000B9Z0J8 10163
NETFLIX INC NFLX 0.23 1369930 BBG000CL9VN6 19322
Barrick Mining Corp. B 0.23 1366810 N/A 37192
TEXAS INSTRUMENTS INC TXN 0.22 1308980 BBG000BVV7G1 4198
AUTOMATIC DATA PROCESSING ADP 0.22 1279260 BBG000JG0547 5914
NUCOR CORP NUE 0.21 1214330 BBG000BQ8KV2 4879
EQUINIX INC EQIX 0.21 1237700 BBG000MBDGM6 1138
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1210690 N/A 49416
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1126390 BBG000PVRDL2 9961
LINDE PLC LIN 0.19 1105140 BBG01FND0CC1 2116
WESTERN DIGITAL CORP WDC 0.18 1028620 BBG000BWNFZ9 1523
STANLEY BLACK & DECKER INC SWK 0.18 1051960 BBG000BTQR96 11396
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1050510 BBG00ZXBJ153 3735
KENVUE INC KVUE 0.17 989010 BBG01C79X561 52163
Kimberly-Clark Corp KMB 0.17 993547 BBG000BMW2Z0 9191
HORMEL FOODS CORP HRL 0.17 1009080 BBG000BLF8D2 38781
MEDTRONIC PLC MDT 0.17 973720 BBG000BNWG87 12202
PALO ALTO NETWORKS INC PANW 0.17 1022880 BBG0014GJCT9 3490
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1007930 BBG0113JGQF0 983
ILLINOIS TOOL WORKS ITW 0.17 992020 BBG000BMBL90 3666
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.17 980984 BBG000N7QR55 9145
AMCOR PLC COMMON STOCK USD.01 AMCR 0.17 1000740 N/A 23349
FRANCO-NEVADA CORP FNV 0.16 940380 BBG000RD3CL8 4478
QUALCOMM INC QCOM 0.16 954629 BBG000CGC1X8 4659
FRANKLIN RESOURCES INC BEN 0.16 951682 BBG000BD0TF8 29148
VALE SA-SP ADR VALE 0.16 953815 BBG000BN5LG7 63083
EVERSOURCE ENERGY ES 0.16 918443 BBG000BQ87N0 12742
CLOROX COMPANY CLX 0.16 941934 BBG000BFS7D3 9887
T ROWE PRICE GROUP INC TROW 0.16 921649 BBG000BVMPN3 8667
T-MOBILE US INC TMUS 0.16 920378 BBG000NDV1D4 5069
SIMON PROPERTY GROUP INC SPG 0.16 932401 BBG000BJ2D31 4135
ANALOG DEVICES INC ADI 0.16 942432 BBG000BB6G37 2255
PEPSICO INC PEP 0.15 878976 BBG000DH7JK6 6300
GENUINE PARTS CO GPC 0.15 888327 BBG000BKL348 7862
AMGEN INC AMGN 0.15 870054 BBG000BBS2Y0 2466
ABBVIE INC ABBV 0.15 858041 BBG0025Y4RY4 3529
AO Smith Corp AOS 0.14 831185 BBG000BC1L02 13597
PPG INDUSTRIES INC PPG 0.14 825710 BBG000BRJ809 6746
DIGITAL REALTY TRUST INC DLR 0.14 799781 BBG000Q5ZRM7 4156
PUBLIC STORAGE PSA 0.13 759192 BBG000BPPN67 2367
Ventas Inc. VTR 0.12 693582 BBG000FRVHB9 7933
GILEAD SCIENCES INC GILD 0.12 704526 BBG000CKGBP2 5689
J M Smucker Co COM STK NPV SJM 0.12 720675 BBG000BT1715 6406
International Business Machines Corporation IBM 0.12 704044 BBG000BLNNH6 2726
Crowdstrike Holdings Inc. Class A CRWD 0.12 718690 BBG00BLYKS03 1059
ASML HOLDING NV-NY REG SHS ASML 0.12 721743 BBG000K6MRN4 392
HONEYWELL INTERNATIONAL INC HON 0.11 660190 BBG000H556T9 2855
INTUITIVE SURGICAL INC ISRG 0.11 644300 BBG000BJPDZ1 1612
IRON MOUNTAIN INC IRM 0.11 629350 BBG000KCZPC3 4802
BOOKING HOLDINGS INC BKNG 0.11 636141 BBG000BLBVN4 3593
SHOPIFY INC - CLASS A SHOP 0.10 596274 BBG008HBD923 5342
APPLOVIN CORP APP 0.10 612262 BBG006HFPX77 1373
Cash & Other Cash&Other 0.09 520115 N/A 520115
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 540636 BBG000BBTJZ1 2351
VERTEX PHARMACEUTICALS INC VRTX 0.09 551727 BBG000C1S2X2 1149
STARBUCKS CORP SBUX 0.09 551596 BBG000CTQBF3 5347
CADENCE DESIGN SYS INC CDNS 0.08 451818 BBG000C13CD9 1227
FASTENAL CO FAST 0.08 440954 BBG000BJ8YN7 9398
CONSTELLATION ENERGY CORPORATION CEG 0.08 443070 BBG014KFRNP7 1649
Marriott International, Inc Class A MAR 0.08 461133 BBG000BGD7W6 1217
EXTRA SPACE STORAGE INC EXR 0.08 493234 BBG000PV27K3 3351
FORTINET INC FTNT 0.08 476627 BBG000BCMBG4 3179
VICI PROPERTIES INC REIT VICI 0.08 458757 BBG00HVVB499 17292
EQUITY RESIDENTIAL EQR 0.07 437411 BBG000BG8M31 6512
MONSTER BEVERAGE CORP MNST 0.07 428456 BBG008NVB1C0 4471
CSX CORP CSX 0.07 414863 BBG000BGJRC8 8745
SYNOPSYS INC SNPS 0.07 404058 BBG000BSFRF3 888
AVALONBAY COMMUNITIES INC AVB 0.07 431822 BBG000BLPBL5 2320
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 355817 BBG000D4LWF6 5814
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 322179 BBG000C30L48 224
COMCAST CORP-CLASS A CMCSA 0.06 377289 BBG000BFT2L4 16628
ADOBE SYSTEMS INC ADBE 0.06 336147 BBG000BB5006 1738
NXP Semiconductors NV NXPI 0.06 349409 BBG000BND699 1170
MERCADOLIBRE INC MELI 0.06 374047 BBG000GQPB11 231
OREILLY AUTOMOTIVE INC ORLY 0.06 337346 BBG000BGYWY6 3882
AMERICAN ELECTRIC POWER AEP 0.06 347158 BBG000BB9KF2 2534
PACCAR INC PCAR 0.05 292884 BBG000BQVTF5 2407
Warner Bros Discovery Inc WBD 0.05 309056 BBG011386VF4 11455
ESSEX PROPERTY TRUST INC ESS 0.05 314984 BBG000CGJMB9 1103
AIRBNB INC ABNB 0.05 268153 BBG001Y2XS07 1890
DOORDASH INC CLASS A DASH 0.05 317730 BBG005D7QCJ3 1796
ROSS STORES INC ROST 0.05 303548 BBG000BSBZH7 1411
REGENERON PHARMACEUTICALS REGN 0.05 290846 BBG000C734W3 469
INTUIT INC INTU 0.05 305829 BBG000BH5DV1 1199
INVITATION HOMES INC REIT USD.01 INVH 0.05 307385 BBG00FQH6BS9 10277
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 284414 BBG00CMNZNK7 284414
CINTAS CORP CTAS 0.05 315015 BBG000H3YXF8 1863
Datadog Inc. Class A DDOG 0.05 309979 BBG003NJHZT9 1403
LUMENTUM HOLDINGS INC LITE 0.05 286174 BBG0073F9RT7 332
XCEL ENERGY INC XEL 0.04 231925 BBG000BCTQ65 2837
MICROCHIP TECHNOLOGY INC MCHP 0.04 233135 BBG000BHCP19 2477
Sun Communities Inc SUI 0.04 234788 BBG000BLJWF3 1980
HOST HOTELS & RESORTS INC HST 0.04 262115 BBG000BL8804 10493
Baker Hughes Company BKR 0.04 256002 BBG00GBVBK51 4496
ARM HOLDINGS PLC ARM 0.04 214885 BBG01J1GXZF0 618
EXELON CORP EXC 0.04 224914 BBG000J6XT05 4811
MID-AMERICA APARTMENT COMM MAA 0.04 257519 BBG000BLMY92 1865
KIMCO REALTY CORP KIM 0.04 256757 BBG000CN3S73 10061
FERROVIAL SE FER 0.04 230467 BBG01H7CZ9S9 3283
DIAMONDBACK ENERGY INC FANG 0.04 236220 BBG002PHSYX9 1294
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 213816 BBG00LBLDDR2 2917
W. P. CAREY REIT INC WPC 0.04 239561 BBG000BCQM58 3266
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 211750 BBG00B6BFWH9 2126
ELECTRONIC ARTS INC EA 0.04 227864 BBG000BP0KQ8 1113
PAYCHEX INC PAYX 0.03 151077 BBG000BQSQ38 1562
PAYPAL HOLDINGS INC PYPL 0.03 178038 BBG0077VNXV6 4201
ROPER TECHNOLOGIES INC ROP 0.03 154243 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 161437 BBG000BHJWG1 363
Old Dominion Freight Line Inc. ODFL 0.03 204491 BBG000CHSS88 929
AIR PRODUCTS & CHEMICALS INC APD 0.03 181675 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 201443 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 199570 BBG000BS1YV5 836
KEURIG DR PEPPER INC KDP 0.03 203007 BBG000TJM7F0 6287
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 197762 BBG000B9ZXB4 2121
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 182059 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 185176 BBG000BM7HL0 976
MCDONALDS CORP MCD 0.03 170893 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 190396 BBG000BHLYS1 1719
THOMSON REUTERS CORP TRI 0.03 153676 N/A 1897
KRAFT HEINZ CO/THE KHC 0.02 129390 BBG005CPNTQ2 5513
Zscaler Inc. ZS 0.02 112658 BBG003338H34 910
VERISK ANALYTICS INC VRSK 0.02 116138 BBG000BCZL41 656
WORKDAY INC-CLASS A WDAY 0.02 96249.4 BBG000VC0T95 846
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 138127 BBG01BFR8YV1 2127
COPART INC CPRT 0.02 132490 BBG000BM9RH1 4409
DEXCOM INC DXCM 0.02 113547 BBG000QTF8K1 1654
MICROSTRATEGY INC-CL A MSTR 0.02 115878 BBG000GQJPZ0 1358
INSMED INC INSM 0.02 100396 BBG000BWM5P3 961
COGNIZANT TECH SOLUTIONS-A CTSH 0.01 81745.2 BBG000BBDV81 2088
CHARTER COMMUNICATIONS INC-A CHTR 0.01 77141.8 BBG000VPGNR2 595
EURO EUR 0.00 1948.22 N/A 1713.03

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.