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 08/04/2026
TICKER RAA
NET ASSETS $604M
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 $29.83
30 DAY MEDIAN BID-ASK SPREAD 0.00068

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 08/04/2026

NET ASSET VALUE

$29.83

CLOSING PRICE

$29.84

PREMIUM/DISCOUNT

0.03%
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 12
Discount 13 16 8 14 6

Asset Allocation

As of 8/4/2026

Equities

40.72%
Nasdaq
16.40%
US Large Cap
10.18%
Dividend Payers
5.02%
Emerging Ex. China
3.06%
US Small Cap
3.05%
Japan
2.01%
Europe
1.00%

Fixed Income

25.28%
Long Term Treasuries
5.97%
High Yield
5.95%
Emerging Mkt Bonds
3.98%
Corporate Bonds
3.96%
TIPS
2.96%
T-Bills
2.46%

Alternatives

34.00%
Managed Futures
10.74%
Commodities
8.54%
Energy
4.86%
Real Estate
3.80%
Miners
3.06%
Bitcoin
2.01%
Gold
0.99%

Holdings

As of 08/04/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.18 61467100 BBG00RYR67P4 1249080
iM DBi Managed Futures Strategy ETF DBMF 9.37 56620600 N/A 1844920
INVESCO OPTIMUM YIELD DIVERS PDBC 8.54 51570800 N/A 3051520
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.97 36078800 BBG00PZFJPC3 1196640
SCHWAB HIGH YIELD BOND ETF SCYB 5.95 35918400 BBG01F80WX71 1381780
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 24053400 BBG000NXKWH0 252609
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.96 23917200 BBG000PWYVH7 293390
ISHARES MSCI EMR MRK EX CHNA EMXC 3.06 18498900 BBG00H5VLMJ6 193767
VANGUARD SMALL-CAP ETF VB 3.05 18425600 BBG000HT3Z79 60303
SCHWAB U.S. TIPS ETF SCHP 2.96 17888600 BBG000BGN6P5 689881
Franklin FTSE Japan ETF FLJP 2.01 12151100 BBG00J3MDY16 301740
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.01 12164300 N/A 428322
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 11904200 BBG01922X0X9 238608
Simplify DBi CTA Managed Futures Index ETF SDMF 1.37 8285020 BBG020BR8WR7 324267
APPLE INC AAPL 1.33 8007060 BBG000B9XRY4 25881
NVIDIA CORP NVDA 1.32 7966820 BBG000BBJQV0 37590
Franklin FTSE Europe ETF FLEE 1.00 6060700 BBG00J3PR1S7 151215
SPROTT PHYSICAL GOLD TRUS PHYS 0.99 5991060 BBG000Q83F79 194074
MICROSOFT CORP MSFT 0.94 5655980 BBG000BPH459 11477
MICRON TECHNOLOGY INC MU 0.77 4672240 BBG000C5Z1S3 5234
AMAZON.COM INC AMZN 0.69 4139940 BBG000BVPV84 14923
BHP GROUP LTD BHP 0.68 4109400 BBG000BD5NZ4 46986
ADVANCED MICRO DEVICES INC AMD 0.62 3757630 BBG000BBQCY0 7246
CHEVRON CORP CVX 0.61 3708420 BBG000K4ND22 19477
ALPHABET INC-CL A GOOGL 0.55 3301790 BBG009S39JX6 8743
WELLTOWER INC WELL 0.54 3263050 BBG000BKY1G5 14091
Broadcom Inc. AVGO 0.52 3132850 BBG00KHY5S69 7492
SCHLUMBERGER LTD SLB 0.51 3054190 BBG000BT41Q8 60110
ALPHABET INC-CL C GOOG 0.51 3091380 BBG009S3NB30 8236
EQT CORP EQT 0.49 2954610 BBG000BHZ5J9 56166
WILLIAMS COMPANIES INC. WMB 0.49 2981400 BBG000BWVCP8 41692
MARATHON PETROLEUM CORP MPC 0.49 2971360 BBG001DCCGR8 9505
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.49 2968960 BBG023CY9MM1 19284
CANADIAN NATURAL RESOURCES CNQ 0.48 2885140 BBG000HW5GX3 62476
OCCIDENTAL PETROLEUM CORP OXY 0.48 2899330 BBG000BQQ2S6 52629
REALTY INCOME CORP O 0.48 2879690 BBG000DHPN63 45782
Cheniere Energy Inc LNG 0.48 2913040 BBG000C3HSR0 11322
Suncor Energy Inc. SU 0.47 2863260 BBG000BC1LY5 44426
META PLATFORMS INC META 0.45 2739800 BBG000MM2P62 4660
PROLOGIS INC PLD 0.44 2629850 BBG000B9Z0J8 18913
Tesla Inc. TSLA 0.43 2570680 BBG000N9MNX3 7853
WAL-MART STORES INC WMT 0.40 2387840 BBG000BWXBC2 21406
INTEL CORP INTC 0.36 2197540 BBG000C0G1D1 21788
EQUINIX INC EQIX 0.36 2195590 BBG000MBDGM6 2088
CISCO SYSTEMS INC CSCO 0.34 2062150 BBG000C3J3C9 16939
NEWMONT GOLDCORP CORPORATION COM NEM 0.33 1986360 BBG000BPWXK1 20325
AUTOMATIC DATA PROCESSING ADP 0.33 2004210 BBG000JG0547 7406
PEPSICO INC PEP 0.31 1899410 BBG000DH7JK6 13655
RIO TINTO PLC-SPON ADR RIO 0.31 1879210 BBG000FD28T3 18980
FREEPORT-MCMORAN INC FCX 0.31 1850750 BBG000BJDB15 27500
APPLIED MATERIALS INC AMAT 0.30 1818600 BBG000BBPFB9 3327
COSTCO WHOLESALE CORP COST 0.30 1837880 BBG000F6H8W8 1939
LAM RESH CORP LRCX 0.28 1680530 BBG000BNFLM9 5289
SIMON PROPERTY GROUP INC SPG 0.28 1687920 BBG000BJ2D31 7472
CLOROX COMPANY CLX 0.27 1630240 BBG000BFS7D3 15575
DIGITAL REALTY TRUST INC DLR 0.27 1636240 BBG000Q5ZRM7 8439
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.27 1659290 BBG000N7QR55 10201
PUBLIC STORAGE PSA 0.26 1558990 BBG000BPPN67 4775
AO Smith Corp AOS 0.26 1572150 BBG000BC1L02 24809
FRANKLIN RESOURCES INC BEN 0.26 1560650 BBG000BD0TF8 43630
STANLEY BLACK & DECKER INC SWK 0.26 1595800 BBG000BTQR96 15584
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1568060 N/A 33264
KENVUE INC KVUE 0.25 1509960 BBG01C79X561 77236
Kimberly-Clark Corp KMB 0.25 1512220 BBG000BMW2Z0 13554
HORMEL FOODS CORP HRL 0.25 1501500 BBG000BLF8D2 59254
MEDTRONIC PLC MDT 0.25 1502040 BBG000BNWG87 17425
T ROWE PRICE GROUP INC TROW 0.25 1534330 BBG000BVMPN3 13251
ABBVIE INC ABBV 0.24 1441590 BBG0025Y4RY4 5913
GENUINE PARTS CO GPC 0.23 1392570 BBG000BKL348 10506
PPG INDUSTRIES INC PPG 0.23 1388160 BBG000BRJ809 11784
NETFLIX INC NFLX 0.23 1406880 BBG000CL9VN6 19123
EVERSOURCE ENERGY ES 0.23 1377080 BBG000BQ87N0 18942
International Business Machines Corporation IBM 0.23 1395140 BBG000BLNNH6 5933
AGNICO EAGLE MINES LTD AEM 0.23 1416190 BBG000DLVDK3 9403
Ventas Inc. VTR 0.22 1332040 BBG000FRVHB9 14662
PALO ALTO NETWORKS INC PANW 0.22 1310760 BBG0014GJCT9 3578
GLENCORE PLC -UNSP ADR GLNCY 0.20 1210140 BBG001VKX1Z1 81381
ILLINOIS TOOL WORKS ITW 0.20 1224500 BBG000BMBL90 4150
Barrick Mining Corp ABX 0.20 1233990 N/A 32295
NUCOR CORP NUE 0.19 1137810 BBG000BQ8KV2 4152
TEXAS INSTRUMENTS INC TXN 0.19 1157210 BBG000BVV7G1 4080
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1073800 N/A 40157
SPACE EXPLORATION TECH CORP A SPCX 0.18 1094260 BBG000NQF3Z5 8731
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.17 1001760 BBG000PVRDL2 8680
IRON MOUNTAIN INC IRM 0.17 1026300 BBG000KCZPC3 8177
ERIE INDEMNITY COMPANY-CL A ERIE 0.17 1032160 BBG000BBTJZ1 4221
LINDE PLC LIN 0.17 1026950 BBG01FND0CC1 2119
KLA CORPORATION KLAC 0.17 1052890 BBG000BMTFR4 5387
EXTRA SPACE STORAGE INC EXR 0.16 961802 BBG000PV27K3 6418
AMGEN INC AMGN 0.15 904066 BBG000BBS2Y0 2318
SANDISK CORP/DE SNDKV SNDK 0.15 935091 BBG01R388JG1 655
Crowdstrike Holdings Inc. Class A CRWD 0.15 923243 BBG00BLYKS03 4371
WESTERN DIGITAL CORP WDC 0.14 818452 BBG000BWNFZ9 1492
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 841952 BBG00CMNZNK7 841952
VICI PROPERTIES INC REIT VICI 0.14 847530 BBG00HVVB499 31874
T-MOBILE US INC TMUS 0.14 866380 BBG000NDV1D4 4889
QUALCOMM INC QCOM 0.13 781629 BBG000CGC1X8 4805
FRANCO-NEVADA CORP FNV 0.13 792054 BBG000TRN6Z1 3619
VALE SA-SP ADR VALE 0.13 760468 BBG000BN5LG7 51279
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 792938 BBG0113JGQF0 938
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 804630 BBG00ZXBJ153 3681
AVALONBAY COMMUNITIES INC AVB 0.13 786334 BBG000BLPBL5 4155
ANALOG DEVICES INC ADI 0.13 797088 BBG000BB6G37 2096
EQUITY RESIDENTIAL EQR 0.12 725028 BBG000BG8M31 10711
GILEAD SCIENCES INC GILD 0.12 741035 BBG000CKGBP2 5479
BOOKING HOLDINGS INC BKNG 0.11 655078 BBG000BLBVN4 3372
SHOPIFY INC - CLASS A SHOP 0.11 681479 BBG004DW5NB8 5527
ASML HOLDING NV-NY REG SHS ASML 0.11 674485 BBG000K6MRN4 394
APPLOVIN CORP APP 0.10 574150 BBG006HFPX77 1368
FASTENAL CO FAST 0.09 562270 BBG000BJ8YN7 11311
INTUITIVE SURGICAL INC ISRG 0.09 557185 BBG000BJPDZ1 1513
ARM HOLDINGS PLC ARM 0.09 541481 BBG01J1GXZF0 1930
ESSEX PROPERTY TRUST INC ESS 0.09 539955 BBG000CGJMB9 1880
VERTEX PHARMACEUTICALS INC VRTX 0.09 538543 BBG000C1S2X2 1125
STARBUCKS CORP SBUX 0.09 534402 BBG000CTQBF3 5091
INVITATION HOMES INC REIT USD.01 INVH 0.09 548948 BBG00FQH6BS9 18016
Sun Communities Inc SUI 0.08 468916 BBG000BLJWF3 3854
HOST HOTELS & RESORTS INC HST 0.08 473071 BBG000BL8804 18938
MID-AMERICA APARTMENT COMM MAA 0.08 475959 BBG000BLMY92 3573
KIMCO REALTY CORP KIM 0.08 468062 BBG000CN3S73 18715
FORTINET INC FTNT 0.08 498475 BBG000BCMBG4 2962
W. P. CAREY REIT INC WPC 0.08 468851 BBG000BCQM58 6483
CADENCE DESIGN SYS INC CDNS 0.07 419303 BBG000C13CD9 1231
CONSTELLATION ENERGY CORPORATION CEG 0.07 421453 BBG014KFRNP7 1577
ADOBE SYSTEMS INC ADBE 0.07 431038 BBG000BB5006 1674
MONSTER BEVERAGE CORP MNST 0.07 406858 BBG008NVB1C0 4320
MERCADOLIBRE INC MELI 0.07 419247 BBG000GQPB11 222
CSX CORP CSX 0.07 421202 BBG000BGJRC8 8254
Datadog Inc. Class A DDOG 0.07 442598 BBG003NJHZT9 1536
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 362487 BBG022XF4SZ9 1457
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 357022 BBG000D4LWF6 5751
COMCAST CORP-CLASS A CMCSA 0.06 371332 BBG000BFT2L4 14895
Marriott International, Inc Class A MAR 0.06 384208 BBG000BGD7W6 1113
DOORDASH INC CLASS A DASH 0.06 367706 BBG005D7QCJ3 1817
ROSS STORES INC ROST 0.06 357007 BBG000BSBZH7 1422
REGENERON PHARMACEUTICALS REGN 0.06 357510 BBG000C734W3 470
INTUIT INC INTU 0.06 367610 BBG000BH5DV1 1136
CINTAS CORP CTAS 0.06 354962 BBG000H3YXF8 1743
PACCAR INC PCAR 0.05 304007 BBG000BQVTF5 2236
Warner Bros Discovery Inc WBD 0.05 293155 BBG011386VF4 11367
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 277686 BBG000C30L48 208
NXP Semiconductors NV NXPI 0.05 298901 BBG000BND699 1258
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 297186 BBG000B9ZXB4 2818
AIRBNB INC ABNB 0.05 294293 BBG001Y2XS07 1963
SYNOPSYS INC SNPS 0.05 312588 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 295174 BBG000BNSZP1 1100
CONSOLIDATED EDISON INC ED 0.05 295200 BBG000BHLYS1 2723
OREILLY AUTOMOTIVE INC ORLY 0.05 305978 BBG000BGYWY6 3332
LUMENTUM HOLDINGS INC LITE 0.05 277777 BBG0073F9RT7 327
AMERICAN ELECTRIC POWER AEP 0.05 297002 BBG000BB9KF2 2314
HONEYWELL AEROSPACE INC HONAV HONAV 0.05 309783 BBG020QYV152 1431
XCEL ENERGY INC XEL 0.04 236360 BBG000BCTQ65 3040
PAYPAL HOLDINGS INC PYPL 0.04 243702 BBG0077VNXV6 4163
ASTERA LABS INC ALAB 0.04 270891 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 243031 BBG00GBVBK51 3937
TERADYNE INC TER 0.04 252225 BBG000BV4DR6 625
Nebius Group NV NBIS 0.04 211518 BBG001NVJ6W4 937
AUTODESK INC ADSK 0.04 241480 BBG000BM7HL0 1018
DIAMONDBACK ENERGY INC FANG 0.04 226023 BBG002PHSYX9 1178
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 245963 BBG00LBLDDR2 2702
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 230833 BBG00B6BFWH9 2175
Cash & Other Cash&Other 0.03 199473 N/A 199473
PAYCHEX INC PAYX 0.03 182024 BBG000BQSQ38 1534
MICROCHIP TECHNOLOGY INC MCHP 0.03 191027 BBG000BHCP19 2368
ROPER TECHNOLOGIES INC ROP 0.03 179491 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 207055 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 184448 BBG000CHSS88 841
IDEXX LABS IDXX 0.03 189365 BBG000BLRT07 322
EXELON CORP EXC 0.03 178180 BBG000J6XT05 3887
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 177763 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 177799 BBG000TJM7F0 5717
FERROVIAL SA FER 0.03 181459 BBG01H0DF657 2727.88
COREWEAVE INC CRWV 0.03 151543 BBG011ZTRJ21 1649
ROCKET LAB CORP RKLB 0.03 204075 BBG01V7JN3F3 2740
THOMSON REUTERS CORP TRI 0.03 199963 N/A 1832
KRAFT HEINZ CO/THE KHC 0.02 122251 BBG005CPNTQ2 4589
WORKDAY INC-CLASS A WDAY 0.02 127946 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 128334 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 123096 BBG01BFR8YV1 1752
COPART INC CPRT 0.02 120452 BBG000BM9RH1 4097
DEXCOM INC DXCM 0.02 124324 BBG000QTF8K1 1430
MICROSTRATEGY INC-CL A MSTR 0.02 124113 BBG000GQJPZ0 1271

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.