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 09/16/2026
TICKER RAA
NET ASSETS $603M
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 $29.92
30 DAY MEDIAN BID-ASK SPREAD 0.000982

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 09/16/2026

NET ASSET VALUE

$29.92

CLOSING PRICE

$29.92

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 26
Discount 13 16 8 14 19

Asset Allocation

As of 9/16/2026

Equities

45.72%
Nasdaq
16.91%
US Large Cap
15.00%
Dividend Payers
5.86%
US Small Cap
3.93%
Emerging Ex. China
2.01%
Japan
1.03%
Europe
0.98%

Fixed Income

24.95%
Corporate Bonds
6.97%
High Yield
5.99%
Emerging Mkt Bonds
3.99%
TIPS
3.99%
Long Term Treasuries
2.99%
T-Bills
1.02%

Alternatives

29.33%
Commodities
7.53%
Managed Futures
5.19%
Energy
5.05%
Gold
3.87%
Miners
3.80%
Real Estate
2.91%
Bitcoin
0.98%

Holdings

As of 09/16/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.00 90429100 BBG00RYR67P4 1875340
INVESCO OPTIMUM YIELD DIVERS PDBC 7.53 45419500 N/A 2293910
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.97 42043700 BBG000PWYVH7 528519
SCHWAB HIGH YIELD BOND ETF SCYB 5.99 36098900 BBG01F80WX71 1408460
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.99 24043400 BBG000NXKWH0 258365
SCHWAB U.S. TIPS ETF SCHP 3.99 24080900 BBG000BGN6P5 945460
Vanguard Morningstar Small-Cap ETF VB 3.93 23681300 BBG000HT3Z79 81948
SPROTT PHYSICAL GOLD TRUS PHYS 3.87 23325500 BBG000Q83F79 723944
iM DBi Managed Futures Strategy ETF DBMF 3.74 22520600 N/A 701138
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.99 18027700 BBG00PZFJPC3 611731
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 12109300 BBG00H5VLMJ6 124658
Simplify DBi CTA Managed Futures Index ETF SDMF 1.45 8738270 BBG020BR8WR7 327826
NVIDIA CORP NVDA 1.41 8480280 BBG000BBJQV0 39646
APPLE INC AAPL 1.36 8175960 BBG000B9XRY4 24596
Franklin FTSE Japan ETF FLJP 1.03 6196280 BBG00J3MDY16 149922
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.02 6126960 BBG01922X0X9 122711
MICROSOFT CORP MSFT 1.01 6086580 BBG000BPH459 12414
Franklin FTSE Europe ETF FLEE 0.98 5916480 BBG00J3PR1S7 153562
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.98 5905680 N/A 175712
BHP GROUP LTD BHP 0.79 4753570 BBG000BD5NZ4 56496
MICRON TECHNOLOGY INC MU 0.77 4667030 BBG000C5Z1S3 5037
AMAZON.COM INC AMZN 0.74 4480900 BBG000BVPV84 18218
CHEVRON CORP CVX 0.70 4228680 BBG000K4ND22 19990
ADVANCED MICRO DEVICES INC AMD 0.63 3787890 BBG000BBQCY0 7391
MARATHON PETROLEUM CORP MPC 0.56 3389590 BBG001DCCGR8 8189
ALPHABET INC-CL A GOOGL 0.56 3396810 BBG009S39JX6 9907
META PLATFORMS INC META 0.55 3287100 BBG000MM2P62 4882
Suncor Energy Inc. SU 0.53 3180590 BBG000BC1LY5 46129
ALPHABET INC-CL C GOOG 0.52 3150960 BBG009S3NB30 9285
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.52 3109940 BBG023CY9MM1 19042
CANADIAN NATURAL RESOURCES CNQ 0.51 3086110 BBG000HW5GX3 61636
OCCIDENTAL PETROLEUM CORP OXY 0.50 3035020 BBG000BQQ2S6 51129
WILLIAMS COMPANIES INC. WMB 0.48 2898040 BBG000BWVCP8 40875
EQT CORP EQT 0.47 2844180 BBG000BHZ5J9 56421
Tesla Inc. TSLA 0.47 2820950 BBG000N9MNX3 7878
Cheniere Energy Inc LNG 0.47 2804150 BBG000C3HSR0 10473
NEWMONT GOLDCORP CORPORATION COM NEM 0.45 2730470 BBG000BPWXK1 22425
SCHLUMBERGER LTD SLB 0.44 2642140 BBG000BT41Q8 50519
Broadcom Inc. AVGO 0.44 2651570 BBG00KHY5S69 7810
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.44 2647710 BBG00CMNZNK7 2647710
WELLTOWER INC WELL 0.42 2505160 BBG000BKY1G5 10683
REALTY INCOME CORP O 0.41 2447450 BBG000DHPN63 42825
WAL-MART STORES INC WMT 0.39 2369940 BBG000BWXBC2 22046
INTEL CORP INTC 0.38 2317880 BBG000C0G1D1 22938
RIO TINTO PLC-SPON ADR RIO 0.38 2283830 BBG000FD28T3 23842
AUTOMATIC DATA PROCESSING ADP 0.37 2253270 BBG000JG0547 8248
FREEPORT-MCMORAN INC FCX 0.35 2128850 BBG000BJDB15 30746
PROLOGIS INC PLD 0.33 1999150 BBG000B9Z0J8 14948
AGNICO EAGLE MINES LTD AEM 0.33 2012020 BBG000DLVDK3 10288
CISCO SYSTEMS INC CSCO 0.32 1935660 BBG000C3J3C9 17966
MEDTRONIC PLC MDT 0.31 1870890 BBG000BNWG87 20204
PEPSICO INC PEP 0.31 1852150 BBG000DH7JK6 13787
COSTCO WHOLESALE CORP COST 0.30 1825910 BBG000F6H8W8 2043
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.30 1827950 BBG000N7QR55 10485
GENUINE PARTS CO GPC 0.29 1720120 BBG000BKL348 13179
KENVUE INC KVUE 0.29 1730720 BBG01C79X561 97068
AO Smith Corp AOS 0.29 1750900 BBG000BC1L02 30777
HORMEL FOODS CORP HRL 0.29 1746020 BBG000BLF8D2 84024
FRANKLIN RESOURCES INC BEN 0.29 1758270 BBG000BD0TF8 53737
ILLINOIS TOOL WORKS ITW 0.29 1755290 BBG000BMBL90 6566
Kimberly-Clark Corp KMB 0.28 1665740 BBG000BMW2Z0 16980
EQUINIX INC EQIX 0.28 1672600 BBG000MBDGM6 1646
STANLEY BLACK & DECKER INC SWK 0.28 1701480 BBG000BTQR96 19107
T ROWE PRICE GROUP INC TROW 0.28 1698000 BBG000BVMPN3 16582
ABBVIE INC ABBV 0.28 1711040 BBG0025Y4RY4 6518
AMCOR PLC COMMON STOCK USD.01 AMCR 0.28 1671540 N/A 39827
GLENCORE PLC -UNSP ADR GLNCY 0.27 1647120 BBG001VKX1Z1 107304
CLOROX COMPANY CLX 0.26 1583570 BBG000BFS7D3 18661
APPLIED MATERIALS INC AMAT 0.25 1516970 BBG000BBPFB9 3652
NETFLIX INC NFLX 0.25 1479760 BBG000CL9VN6 19366
EVERSOURCE ENERGY ES 0.25 1525900 BBG000BQ87N0 22486
International Business Machines Corporation IBM 0.25 1500700 BBG000BLNNH6 6319
LAM RESH CORP LRCX 0.25 1532190 BBG000BNFLM9 5691
Barrick Mining Corp. B 0.25 1509160 N/A 35468
PPG INDUSTRIES INC PPG 0.24 1464890 BBG000BRJ809 13954
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1373390 BBG000PVRDL2 9360
PALO ALTO NETWORKS INC PANW 0.23 1368120 BBG0014GJCT9 3642
SPACE EXPLORATION TECH CORP A SPCX 0.22 1306620 BBG000NQF3Z5 8660
NUCOR CORP NUE 0.21 1276550 BBG000BQ8KV2 4897
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1244640 N/A 47669
ERIE INDEMNITY COMPANY-CL A ERIE 0.20 1176570 BBG000BBTJZ1 4791
DIGITAL REALTY TRUST INC DLR 0.19 1163920 BBG000Q5ZRM7 6428
SIMON PROPERTY GROUP INC SPG 0.19 1173600 BBG000BJ2D31 5783
Vivmark Residential VMRK 0.19 1132930 BBG000BG8M31 17985.9
PUBLIC STORAGE PSA 0.18 1073220 BBG000BPPN67 3642
TEXAS INSTRUMENTS INC TXN 0.18 1079430 BBG000BVV7G1 4141
FRANCO-NEVADA CORP FNV 0.18 1085890 BBG000TRN6Z1 4186
Crowdstrike Holdings Inc. Class A CRWD 0.18 1067780 BBG00BLYKS03 4424
KLA CORPORATION KLAC 0.17 1008010 BBG000BMTFR4 6023
Ventas Inc. VTR 0.17 1010090 BBG000FRVHB9 11451
LINDE PLC LIN 0.16 982865 BBG01FND0CC1 2127
SANDISK CORP/DE SNDKV SNDK 0.16 981901 BBG01R388JG1 646
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.16 945716 BBG00ZXBJ153 4117
AMGEN INC AMGN 0.15 929208 BBG000BBS2Y0 2469
VALE SA-SP ADR VALE 0.15 916825 BBG000BN5LG7 64885
T-MOBILE US INC TMUS 0.15 880595 BBG000NDV1D4 4996
QUALCOMM INC QCOM 0.14 863388 BBG000CGC1X8 4671
GILEAD SCIENCES INC GILD 0.14 835721 BBG000CKGBP2 5659
IRON MOUNTAIN INC IRM 0.13 798957 BBG000KCZPC3 7124
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 807459 BBG0113JGQF0 1031
ANALOG DEVICES INC ADI 0.13 807711 BBG000BB6G37 2231
SHOPIFY INC - CLASS A SHOP 0.12 747140 BBG004DW5NB8 5749
WESTERN DIGITAL CORP WDC 0.11 672990 BBG000BWNFZ9 1614
EXTRA SPACE STORAGE INC EXR 0.11 682832 BBG000PV27K3 5005
ASML HOLDING NV-NY REG SHS ASML 0.11 664921 BBG000K6MRN4 415
INTUITIVE SURGICAL INC ISRG 0.10 618928 BBG000BJPDZ1 1619
VERTEX PHARMACEUTICALS INC VRTX 0.10 598974 BBG000C1S2X2 1167
BOOKING HOLDINGS INC BKNG 0.10 620639 BBG000BLBVN4 3621
VICI PROPERTIES INC REIT VICI 0.10 615109 BBG00HVVB499 25555
STARBUCKS CORP SBUX 0.09 515415 BBG000CTQBF3 5295
FORTINET INC FTNT 0.09 563749 BBG000BCMBG4 3282
ROPER TECHNOLOGIES INC ROP 0.08 498713 BBG000F1ZSN5 1327
ARM HOLDINGS PLC ARM 0.08 474297 BBG01J1GXZF0 1944
ADOBE SYSTEMS INC ADBE 0.08 457914 BBG000BB5006 1828
APPLOVIN CORP APP 0.08 470246 BBG006HFPX77 1440
ESSEX PROPERTY TRUST INC ESS 0.07 411351 BBG000CGJMB9 1516
COMCAST CORP-CLASS A CMCSA 0.07 392257 BBG000BFT2L4 16530
CONSTELLATION ENERGY CORPORATION CEG 0.07 428484 BBG014KFRNP7 1651
Marriott International, Inc Class A MAR 0.07 417373 BBG000BGD7W6 1246
MONSTER BEVERAGE CORP MNST 0.07 407726 BBG008NVB1C0 9148
MERCADOLIBRE INC MELI 0.07 436011 BBG000GQPB11 237
INTUIT INC INTU 0.07 401162 BBG000BH5DV1 1261
CSX CORP CSX 0.07 414574 BBG000BGJRC8 8655
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 368423 BBG000D4LWF6 5908
Sun Communities Inc SUI 0.06 332032 BBG000BLJWF3 2890
CADENCE DESIGN SYS INC CDNS 0.06 338679 BBG000C13CD9 1210
HOST HOTELS & RESORTS INC HST 0.06 353339 BBG000BL8804 16238
HEALTHPEAK PROPERTIES INC DOC 0.06 334066 BBG000BKYDP9 16416
AIR PRODUCTS & CHEMICALS INC APD 0.06 343635 BBG000BC4JJ4 1197
MID-AMERICA APARTMENT COMM MAA 0.06 334006 BBG000BLMY92 2740
ROSS STORES INC ROST 0.06 334727 BBG000BSBZH7 1489
KIMCO REALTY CORP KIM 0.06 350597 BBG000CN3S73 15520
REGENERON PHARMACEUTICALS REGN 0.06 367165 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 372073 BBG005D7QCJ3 1891
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 340654 BBG000B9ZXB4 3328
AIRBNB INC ABNB 0.06 332507 BBG001Y2XS07 1985
INVITATION HOMES INC REIT USD.01 INVH 0.06 381267 BBG00FQH6BS9 14012
MCDONALDS CORP MCD 0.06 345001 BBG000BNSZP1 1388
CINTAS CORP CTAS 0.06 370796 BBG000H3YXF8 1859
CONSOLIDATED EDISON INC ED 0.06 362223 BBG000BHLYS1 3436
SYNOPSYS INC SNPS 0.06 332297 BBG000BSFRF3 878
Datadog Inc. Class A DDOG 0.06 355417 BBG003NJHZT9 1540
W. P. CAREY REIT INC WPC 0.06 348399 BBG000BCQM58 5232
PACCAR INC PCAR 0.05 289166 BBG000BQVTF5 2446
Warner Bros Discovery Inc WBD 0.05 325191 BBG011386VF4 11585
OREILLY AUTOMOTIVE INC ORLY 0.05 316645 BBG000BGYWY6 3784
LUMENTUM HOLDINGS INC LITE 0.05 318112 BBG0073F9RT7 346
AMERICAN ELECTRIC POWER AEP 0.05 303656 BBG000BB9KF2 2516
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 308998 BBG022XF4SZ9 1488
XCEL ENERGY INC XEL 0.04 211150 BBG000BCTQ65 2904
PAYPAL HOLDINGS INC PYPL 0.04 214688 BBG0077VNXV6 4073
FASTENAL CO FAST 0.04 260300 BBG000BJ8YN7 5309
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 249031 BBG000C30L48 217
Baker Hughes Company BKR 0.04 248371 BBG00GBVBK51 4410
TERADYNE INC TER 0.04 250404 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.04 253798 BBG000BND699 1159
Nebius Group NV NBIS 0.04 216279 BBG001NVJ6W4 1033
DIAMONDBACK ENERGY INC FANG 0.04 249595 BBG002PHSYX9 1283
AUTODESK INC ADSK 0.04 214362 BBG000BM7HL0 973
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 245495 BBG00LBLDDR2 3117
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 212548 BBG00B6BFWH9 2069
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 242658 BBG020QYV152 1478
PAYCHEX INC PAYX 0.03 191888 BBG000BQSQ38 1644
MICROCHIP TECHNOLOGY INC MCHP 0.03 174114 BBG000BHCP19 2502
AXON ENTERPRISE INC AXON 0.03 182684 BBG000BHJWG1 390
ASTERA LABS INC ALAB 0.03 202423 BBG00TDKHW99 752
Old Dominion Freight Line Inc. ODFL 0.03 165816 BBG000CHSS88 951
EXELON CORP EXC 0.03 200826 BBG000J6XT05 4732
IDEXX LABS IDXX 0.03 185930 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 193171 BBG000BS1YV5 912
KEURIG DR PEPPER INC KDP 0.03 201167 BBG000TJM7F0 6326
FERROVIAL SA FER 0.03 182937 BBG01H0DF657 3318.88
WORKDAY INC-CLASS A WDAY 0.03 178372 BBG000VC0T95 950
COREWEAVE INC CRWV 0.03 171868 BBG011ZTRJ21 2062
DEXCOM INC DXCM 0.03 155553 BBG000QTF8K1 1781
MICROSTRATEGY INC-CL A MSTR 0.03 186873 BBG000GQJPZ0 1481
ROCKET LAB CORP RKLB 0.03 170780 BBG01V7JN3F3 2681
THOMSON REUTERS CORP TRI 0.03 177900 N/A 1756
KRAFT HEINZ CO/THE KHC 0.02 134680 BBG005CPNTQ2 5446
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 146010 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 133583 BBG01BFR8YV1 2104
COPART INC CPRT 0.02 129845 BBG000BM9RH1 4213
Cash & Other Cash&Other -0.37 -2234050 N/A -2234050

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.