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 12/04/2025
TICKER RAA
NET ASSETS $505M
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 $27.84
30 DAY MEDIAN BID-ASK SPREAD 0.00037

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 N/A N/A N/A N/A
RAA - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
RAA - NAV 2.14% 3.44% 7.33% 6.54% - - 11.85% 9.50%
RAA - Market Price 2.17% 3.45% 7.45% 6.40% - - 11.90% 9.52%
S&P 500 Index Total Return 2.34% 3.65% 8.23% 8.12% - - 15.83% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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 12/04/2025

NET ASSET VALUE

$27.84

CLOSING PRICE

$27.84

PREMIUM/DISCOUNT

0.00%
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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 29
Discount 0 0 5 13 10

Asset Allocation

As of 12/4/2025

Equities

44.05%
Nasdaq
19.09%
US Large Cap
14.97%
Emerging Ex. China
2.99%
Japan
2.99%
Europe
2.01%
Dividend Payers
1.00%
US Small Cap
1.00%

Fixed Income

26.83%
High Yield
6.92%
Corporate Bonds
5.91%
Emerging Mkt Bonds
4.94%
TIPS
3.94%
Long Term Treasuries
2.92%
T-Bills
2.20%

Alternatives

29.12%
Commodities
7.08%
Managed Futures
6.88%
Energy
4.05%
Gold
4.00%
Miners
3.07%
Bitcoin
3.06%
Real Estate
0.98%

Holdings

As of 12/04/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.97 75656000 BBG00RYR67P4 575944
INVESCO OPTIMUM YIELD DIVERS PDBC 7.08 35761500 N/A 2591410
Schwab High Yield Bond ETF SCYB 6.92 34983400 BBG01F80WX71 1319630
iM DBi Managed Futures Strategy ETF DBMF 6.88 34752600 N/A 1212580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.91 29853900 BBG000PWYVH7 355319
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.94 24983300 BBG000NXKWH0 259002
SPROTT PHYSICAL GOLD TRUS PHYS 4.00 20217900 BBG000Q83F79 628276
SCHWAB U.S. TIPS ETF SCHP 3.94 19902400 BBG000BGN6P5 743736
GRAYSCALE BITCN MINI TRU ETF BTC.UP 3.06 15475900 N/A 377738
ISHARES MSCI EMR MRK EX CHNA EMXC 2.99 15098100 BBG00H5VLMJ6 211429
Franklin FTSE Japan ETF FLJP 2.99 15113500 BBG00J3MDY16 421106
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.92 14739600 BBG00PZFJPC3 459321
Franklin FTSE Europe ETF FLEE 2.01 10167100 BBG00J3PR1S7 282694
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 10002300 BBG01922X0X9 200446
NVIDIA CORP NVDA 1.78 8988190 BBG000BBJQV0 49014
APPLE INC AAPL 1.68 8482470 BBG000B9XRY4 30219
MICROSOFT CORP MSFT 1.42 7176540 BBG000BPH459 14925
Broadcom Inc. AVGO 1.16 5885390 BBG00KHY5S69 15446
VANGUARD SMALL-CAP ETF VB 1.00 5045920 BBG000HT3Z79 19388
AMAZON.COM INC AMZN 0.99 4998260 BBG000BVPV84 21816
ISHARES MSCI GLOBAL METALS & PICK 0.78 3915760 BBG002GKR8T5 79767
ALPHABET INC-CL A GOOGL 0.76 3827640 BBG009S39JX6 12051
ALPHABET INC-CL C GOOG 0.71 3587940 BBG009S3NB30 11269
Tesla Inc. TSLA 0.66 3343520 BBG000N9MNX3 7356
META PLATFORMS INC META 0.58 2938520 BBG000MM2P62 4442
NETFLIX INC NFLX 0.43 2162360 BBG000CL9VN6 20949
CHEVRON CORP CVX 0.43 2179600 BBG000K4ND22 14315
WILLIAMS COMPANIES INC. WMB 0.42 2112680 BBG000BWVCP8 33187
SCHLUMBERGER LTD SLB 0.42 2127740 BBG000BT41Q8 55817
CANADIAN NATURAL RESOURCES CNQ 0.41 2066080 BBG000HW5GX3 59956
OCCIDENTAL PETROLEUM CORP OXY 0.41 2052510 BBG000BQQ2S6 48102
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.40 2012990 BBG000BRK7L6 44963
EQT CORP EQT 0.40 2041120 BBG000BHZ5J9 33979
EXXON MOBIL CORP XOM 0.40 2034960 BBG000GZQ728 17372
Cheniere Energy Inc LNG 0.40 2020580 BBG000C3HSR0 9719
COSTCO WHOLESALE CORP COST 0.39 1969990 BBG000F6H8W8 2199
BHP GROUP LTD BHP 0.39 1994780 BBG000BD5NZ4 33827
MARATHON PETROLEUM CORP MPC 0.39 1974140 BBG001DCCGR8 10382
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.39 1991640 BBG000N7QR55 11194
ADVANCED MICRO DEVICES INC AMD 0.34 1695880 BBG000BBQCY0 7852
ISHARES MSCI GLOBAL GOLD MIN RING 0.33 1660340 BBG002GKR6T9 23828
CISCO SYSTEMS INC CSCO 0.31 1552400 BBG000C3J3C9 19964
NEWMONT GOLDCORP CORPORATION COM NEM 0.28 1408160 BBG000BPWXK1 15522
MICRON TECHNOLOGY INC MU 0.25 1244540 BBG000C5Z1S3 5491
AGNICO EAGLE MINES LTD AEM 0.24 1191440 BBG000DLVDK3 6950
T-MOBILE US INC TMUS 0.23 1181290 BBG000NDV1D4 5679
RIO TINTO PLC-SPON ADR RIO 0.22 1123940 BBG000FD28T3 15244
APPLIED MATERIALS INC AMAT 0.21 1050280 BBG000BBPFB9 3898
INTUITIVE SURGICAL INC ISRG 0.21 1037180 BBG000BJPDZ1 1824
PEPSICO INC PEP 0.20 992807 BBG000DH7JK6 6824
SHOPIFY INC - CLASS A SHOP 0.20 987494 BBG008HBD923 6084
APPLOVIN CORP APP 0.20 1003790 BBG006HFPX77 1468
LINDE PLC LIN 0.19 951995 BBG01FND0CC1 2358
QUALCOMM INC QCOM 0.19 936434 BBG000CGC1X8 5371
INTUIT INC INTU 0.19 961466 BBG000BH5DV1 1450
LAM RESH CORP LRCX 0.19 983540 BBG000BNFLM9 6261
Barrick Mining Corp. B 0.19 959708 N/A 23459
AMGEN INC AMGN 0.18 921834 BBG000BBS2Y0 2710
INTEL CORP INTC 0.17 867874 BBG000C0G1D1 21429
FREEPORT-MCMORAN INC FCX 0.17 844869 BBG000BJDB15 18939
TEXAS INSTRUMENTS INC TXN 0.16 804596 BBG000BVV7G1 4467
BOOKING HOLDINGS INC BKNG 0.16 822886 BBG000BLBVN4 164
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.16 806976 BBG00CMNZNK7 806976
AUTOMATIC DATA PROCESSING ADP 0.16 785982 BBG000JG0547 3030
KLA CORPORATION KLAC 0.16 798541 BBG000BMTFR4 661
GILEAD SCIENCES INC GILD 0.15 760367 BBG000CKGBP2 6201
WELLTOWER INC WELL 0.15 742902 BBG000BKY1G5 3644
ADOBE SYSTEMS INC ADBE 0.14 711043 BBG000BB5006 2163
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 662374 BBG000PVRDL2 6088
PALO ALTO NETWORKS INC PANW 0.13 659442 BBG0014GJCT9 3370
GLENCORE PLC -UNSP ADR GLNCY 0.13 661739 BBG001VKX1Z1 65196
PROLOGIS INC PLD 0.13 647822 BBG000B9Z0J8 5054
Crowdstrike Holdings Inc. Class A CRWD 0.13 660385 BBG00BLYKS03 1287
ANALOG DEVICES INC ADI 0.13 672910 BBG000BB6G37 2427
HONEYWELL INTERNATIONAL INC HON 0.12 620711 BBG000H556T9 3229
VERTEX PHARMACEUTICALS INC VRTX 0.12 585421 BBG000C1S2X2 1280
CONSTELLATION ENERGY CORPORATION CEG 0.11 567675 BBG014KFRNP7 1540
MERCADOLIBRE INC MELI 0.11 549867 BBG000GQPB11 257
Anglo American PLC NGLOD 0.11 575548 N/A 29186
REALTY INCOME CORP O 0.10 520572 BBG000DHPN63 8943
FRANCO-NEVADA CORP FNV 0.10 491091 BBG000RD3CL8 2420
STARBUCKS CORP SBUX 0.10 485265 BBG000CTQBF3 5709
FASTENAL CO FAST 0.10 483048 BBG000BJ8YN7 11570
COMCAST CORP-CLASS A CMCSA 0.10 507824 BBG000BFT2L4 18670
Cash & Other Cash&Other 0.09 451461 N/A 451461
CADENCE DESIGN SYS INC CDNS 0.09 461426 BBG000C13CD9 1368
DOORDASH INC CLASS A DASH 0.09 452334 BBG005D7QCJ3 2045
ASML HOLDING NV-NY REG SHS ASML 0.09 452913 BBG000K6MRN4 408
Marriott International, Inc Class A MAR 0.08 408776 BBG000BGD7W6 1381
EQUINIX INC EQIX 0.08 385554 BBG000MBDGM6 531
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 382819 BBG00LBLDDR2 3277
SYNOPSYS INC SNPS 0.08 418757 BBG000BSFRF3 903
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 398750 BBG00ZXBJ153 4061
OREILLY AUTOMOTIVE INC ORLY 0.08 418838 BBG000BGYWY6 4209
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 363035 BBG000D4LWF6 6506
SIMON PROPERTY GROUP INC SPG 0.07 345375 BBG000BJ2D31 1884
REGENERON PHARMACEUTICALS REGN 0.07 376579 BBG000C734W3 521
MONSTER BEVERAGE CORP MNST 0.07 362344 BBG008NVB1C0 4946
CINTAS CORP CTAS 0.07 369164 BBG000H3YXF8 2006
CSX CORP CSX 0.07 332567 BBG000BGJRC8 9192
FORTINET INC FTNT 0.07 334587 BBG000BCMBG4 3928
PAYPAL HOLDINGS INC PYPL 0.06 294267 BBG0077VNXV6 4767
PACCAR INC PCAR 0.06 283728 BBG000BQVTF5 2615
PUBLIC STORAGE PSA 0.06 302633 BBG000BPPN67 1094
Warner Bros Discovery Inc WBD 0.06 297523 BBG011386VF4 12124
AMERICAN ELECTRIC POWER AEP 0.06 319652 BBG000BB9KF2 2708
IDEXX LABS IDXX 0.06 290575 BBG000BLRT07 405
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 306116 N/A 2290
AUTODESK INC ADSK 0.06 317472 BBG000BM7HL0 1038
DIGITAL REALTY TRUST INC DLR 0.06 303684 BBG000Q5ZRM7 1886
ROSS STORES INC ROST 0.06 295032 BBG000BSBZH7 1666
Ventas Inc. VTR 0.05 252050 BBG000FRVHB9 3133
ROPER TECHNOLOGIES INC ROP 0.05 234844 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 246372 BBG01C79X561 14501
Kimberly-Clark Corp KMB 0.05 240123 BBG000BMW2Z0 2316
GENUINE PARTS CO GPC 0.05 234550 BBG000BKL348 1814
Baker Hughes Company BKR 0.05 247685 BBG00GBVBK51 4894
HORMEL FOODS CORP HRL 0.05 261242 BBG000BLF8D2 10813
MICROSTRATEGY INC-CL A MSTR 0.05 239767 BBG000GQJPZ0 1289
ILLINOIS TOOL WORKS ITW 0.05 250128 BBG000BMBL90 1003
AMCOR PLC AMCR 0.05 242154 BBG00LNJRQ09 29105
TARGET CORP TGT 0.05 256086 BBG000H8TVT2 2796
MEDTRONIC PLC MDT 0.05 237841 BBG000BNWG87 2332
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 233402 BBG000BS1YV5 943
FRANKLIN RESOURCES INC BEN 0.05 257132 BBG000BD0TF8 11112
AIRBNB INC ABNB 0.05 263508 BBG001Y2XS07 2181
NXP Semiconductors NV NXPI 0.05 274106 BBG000BND699 1212
T ROWE PRICE GROUP INC TROW 0.05 259503 BBG000BVMPN3 2453
ABBVIE INC ABBV 0.05 252267 BBG0025Y4RY4 1103
EVERSOURCE ENERGY ES 0.05 232363 BBG000BQ87N0 3465
WORKDAY INC-CLASS A WDAY 0.05 261894 BBG000VC0T95 1209
ASTRAZENECA PLC-SPONS ADR AZN 0.05 265048 BBG000BZ0DK8 2944
Datadog Inc. Class A DDOG 0.05 245718 BBG003NJHZT9 1606
STANLEY BLACK & DECKER INC SWK 0.05 251291 BBG000BTQR96 3480
ELECTRONIC ARTS INC EA 0.05 257758 BBG000BP0KQ8 1267
XCEL ENERGY INC XEL 0.04 225689 BBG000BCTQ65 2902
PAYCHEX INC PAYX 0.04 210565 BBG000BQSQ38 1884
EXELON CORP EXC 0.04 223151 BBG000J6XT05 5082
AVALONBAY COMMUNITIES INC AVB 0.04 197003 BBG000BLPBL5 1098
PPG INDUSTRIES INC PPG 0.04 226508 BBG000BRJ809 2250
AXON ENTERPRISE INC AXON 0.04 217491 BBG000BHJWG1 395
Zscaler Inc. ZS 0.04 219116 BBG003338H34 906
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 198094 BBG000BBDV81 2470
EXTRA SPACE STORAGE INC EXR 0.04 196766 BBG000PV27K3 1501
KEURIG DR PEPPER INC KDP 0.04 187285 BBG000TJM7F0 6553
COPART INC CPRT 0.04 190547 BBG000BM9RH1 4911
VICI PROPERTIES INC REIT VICI 0.04 194180 BBG00HVVB499 6935
DIAMONDBACK ENERGY INC FANG 0.04 224271 BBG002PHSYX9 1406
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 185918 BBG01BFR8YV1 2253
International Business Machines Corporation IBM 0.04 208201 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 209316 BBG00B6BFWH9 2306
MICROCHIP TECHNOLOGY INC MCHP 0.03 171637 BBG000BHCP19 2652
KRAFT HEINZ CO/THE KHC 0.03 144245 BBG005CPNTQ2 5866
Old Dominion Freight Line Inc. ODFL 0.03 159190 BBG000CHSS88 1037
VERISK ANALYTICS INC VRSK 0.03 148800 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 132589 BBG01BGWHFR5 847
COSTAR GROUP INC CSGP 0.03 140267 BBG000D7JKW9 2057
CHARTER COMMUNICATIONS INC-A CHTR 0.03 135586 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 149774 BBG000BG8M31 2431
IRON MOUNTAIN INC IRM 0.03 148037 BBG000KCZPC3 1741
BIOGEN INC BIIB 0.03 134665 BBG000C17X76 740
DEXCOM INC DXCM 0.03 130108 BBG000QTF8K1 1994
AFLAC INC AFL 0.03 142667 BBG000BBBNC6 1306
Sun Communities Inc SUI 0.02 98426.1 BBG000BLJWF3 773
GLOBALFOUNDRIES INC GFS 0.02 101466 BBG000C2L5G9 2700
ESSEX PROPERTY TRUST INC ESS 0.02 98134.2 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 104923 BBG000DV7MX4 1915
MID-AMERICA APARTMENT COMM MAA 0.02 98050.7 BBG000BLMY92 738
LULULEMON ATHLETICA INC LULU 0.02 106488 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 94962.8 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 122442 BBG000BFS7D3 1165
KIMCO REALTY CORP KIM 0.02 97203.6 BBG000CN3S73 4836
Omega Healthcare Investors Inc OHI 0.02 99854.2 BBG000BGBTC2 2175
ARM HOLDINGS PLC ARM 0.02 89632.6 BBG01J1GXZF0 638
TRADE DESK INC/THE -CLASS A TTD 0.02 85743.6 BBG00629NGT2 2179
INVITATION HOMES INC REIT USD.01 INVH 0.02 97445.4 BBG00FQH6BS9 3559
W. P. CAREY REIT INC WPC 0.02 98878.8 BBG000BCQM58 1480
AO Smith Corp AOS 0.01 50803.2 BBG000BC1L02 756
AIR PRODUCTS & CHEMICALS INC APD 0.01 50492.7 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 48398.7 BBG000BHLYS1 503
MCDONALDS CORP MCD 0.01 49674.9 BBG000BNSZP1 161
JOHNSON & JOHNSON JNJ 0.01 49000.2 BBG000BMHYD1 242
Solstice Advanced Materials Inc. SOLSV 0.00 6820.94 BBG01X5744P5 145.25

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.