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 03/31/2026
TICKER RAA
NET ASSETS $535M
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 $27.61
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 03/31/2026

NET ASSET VALUE

$27.61

CLOSING PRICE

$27.61

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

Asset Allocation

As of 3/31/2026

Equities

46.90%
Nasdaq
20.56%
US Large Cap
16.94%
Dividend Payers
2.37%
Emerging Ex. China
2.02%
Japan
2.01%
US Small Cap
2.00%
Europe
1.00%

Fixed Income

0.00%
High Yield
6.93%
Corporate Bonds
5.95%
Emerging Mkt Bonds
3.96%
Long Term Treasuries
3.96%
TIPS
3.95%
T-Bills
0.00%

Alternatives

22.62%
Managed Futures
7.80%
Commodities
4.99%
Gold
3.01%
Miners
3.00%
Energy
2.93%
Real Estate
0.89%
Bitcoin
0.00%

Holdings

As of 03/31/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 16.94 90611800 BBG00RYR67P4 728287
iM DBi Managed Futures Strategy ETF DBMF 7.80 41720900 N/A 1383780
SCHWAB HIGH YIELD BOND ETF SCYB 6.93 37066300 BBG01F80WX71 1433620
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.95 31846500 BBG000PWYVH7 386265
INVESCO OPTIMUM YIELD DIVERS PDBC 4.99 26710700 N/A 1542190
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 21189500 BBG000NXKWH0 226560
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.96 21179500 BBG00PZFJPC3 676157
SCHWAB U.S. TIPS ETF SCHP 3.95 21154500 BBG000BGN6P5 800295
SPROTT PHYSICAL GOLD TRUS PHYS 3.01 16106600 BBG000Q83F79 454474
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.99 15992600 BBG01922X0X9 320751
ISHARES MSCI EMR MRK EX CHNA EMXC 2.02 10779500 BBG00H5VLMJ6 137039
Franklin FTSE Japan ETF FLJP 2.01 10752600 BBG00J3MDY16 297196
VANGUARD SMALL-CAP ETF VB 2.00 10705200 BBG000HT3Z79 40872
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.98 10593200 N/A 353225
NVIDIA CORP NVDA 1.80 9611710 BBG000BBJQV0 55113
APPLE INC AAPL 1.61 8598660 BBG000B9XRY4 33881
MICROSOFT CORP MSFT 1.17 6236250 BBG000BPH459 16847
Franklin FTSE Europe ETF FLEE 1.00 5369680 BBG00J3PR1S7 147681
AMAZON.COM INC AMZN 0.93 4994520 BBG000BVPV84 23981
Tesla Inc. TSLA 0.79 4237580 BBG000N9MNX3 11399
WAL-MART STORES INC WMT 0.73 3914940 BBG000BWXBC2 31501
ALPHABET INC-CL A GOOGL 0.70 3760130 BBG009S39JX6 13076
META PLATFORMS INC META 0.68 3652480 BBG000MM2P62 6384
ALPHABET INC-CL C GOOG 0.66 3506290 BBG009S3NB30 12223
Broadcom Inc. AVGO 0.63 3371490 BBG00KHY5S69 10893
BHP GROUP LTD BHP 0.61 3276210 BBG000BD5NZ4 45040
COSTCO WHOLESALE CORP COST 0.53 2839830 BBG000F6H8W8 2850
MICRON TECHNOLOGY INC MU 0.50 2666570 BBG000C5Z1S3 7893
NETFLIX INC NFLX 0.48 2569130 BBG000CL9VN6 26720
ADVANCED MICRO DEVICES INC AMD 0.40 2141710 BBG000BBQCY0 10528
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.39 2111410 BBG000N7QR55 14434
CHEVRON CORP CVX 0.38 2036720 BBG000K4ND22 9844
CISCO SYSTEMS INC CSCO 0.38 2054270 BBG000C3J3C9 26476
NEWMONT GOLDCORP CORPORATION COM NEM 0.38 2028710 BBG000BPWXK1 18741
RIO TINTO PLC-SPON ADR RIO 0.36 1931100 BBG000FD28T3 20700
APPLIED MATERIALS INC AMAT 0.33 1765350 BBG000BBPFB9 5165
LAM RESH CORP LRCX 0.32 1734490 BBG000BNFLM9 8118
CANADIAN NATURAL RESOURCES CNQ 0.31 1633970 BBG000HW5GX3 33531
OCCIDENTAL PETROLEUM CORP OXY 0.31 1647230 BBG000BQQ2S6 25342
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.31 1644620 BBG000BRK7L6 24877
EQT CORP EQT 0.30 1619320 BBG000BHZ5J9 25445
Cheniere Energy Inc LNG 0.30 1625380 BBG000C3HSR0 5728
SCHLUMBERGER LTD SLB 0.30 1601770 BBG000BT41Q8 31169
WILLIAMS COMPANIES INC. WMB 0.30 1621900 BBG000BWVCP8 22285
MARATHON PETROLEUM CORP MPC 0.30 1620620 BBG001DCCGR8 6637
EXXON MOBIL CORP XOM 0.30 1630600 BBG000GZQ728 9611
AGNICO EAGLE MINES LTD AEM 0.29 1551170 BBG000DLVDK3 7642
LINDE PLC LIN 0.28 1485300 BBG01FND0CC1 2996
T-MOBILE US INC TMUS 0.28 1508020 BBG000NDV1D4 7180
PEPSICO INC PEP 0.26 1369040 BBG000DH7JK6 8816
INTEL CORP INTC 0.26 1416180 BBG000C0G1D1 32091
GLENCORE PLC -UNSP ADR GLNCY 0.25 1343040 BBG001VKX1Z1 88474
FREEPORT-MCMORAN INC FCX 0.25 1343590 BBG000BJDB15 22858
Cash & Other Cash&Other 0.24 1305090 N/A 1305090
AMGEN INC AMGN 0.23 1222680 BBG000BBS2Y0 3475
KLA CORPORATION KLAC 0.23 1251550 BBG000BMTFR4 850
TEXAS INSTRUMENTS INC TXN 0.21 1130670 BBG000BVV7G1 5824
Barrick Mining Corp. B 0.21 1125070 N/A 27582
GILEAD SCIENCES INC GILD 0.20 1096280 BBG000CKGBP2 7866
AUTOMATIC DATA PROCESSING ADP 0.20 1053290 BBG000JG0547 5184
Simplify DBi CTA Managed Futures Index ETF SDMF 0.20 1071350 N/A 42346
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1014150 BBG000PVRDL2 7741
INTUITIVE SURGICAL INC ISRG 0.19 1041380 BBG000BJPDZ1 2259
ANALOG DEVICES INC ADI 0.18 984961 BBG000BB6G37 3096
HONEYWELL INTERNATIONAL INC HON 0.17 921750 BBG000H556T9 4078
SHOPIFY INC - CLASS A SHOP 0.17 897479 BBG008HBD923 7566
FRANCO-NEVADA CORP FNV 0.17 906426 BBG000RD3CL8 3669
QUALCOMM INC QCOM 0.17 890900 BBG000CGC1X8 6918
BOOKING HOLDINGS INC BKNG 0.16 842064 BBG000BLBVN4 200
REALTY INCOME CORP O 0.15 790078 BBG000DHPN63 12914
VALE SA-SP ADR VALE 0.15 800480 BBG000BN5LG7 50313
PALO ALTO NETWORKS INC PANW 0.15 782522 BBG0014GJCT9 4881
INTUIT INC INTU 0.14 749747 BBG000BH5DV1 1734
APPLOVIN CORP APP 0.14 765752 BBG006HFPX77 1924
ASML HOLDING NV-NY REG SHS ASML 0.14 747590 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 751857 N/A 34776
WELLTOWER INC WELL 0.13 691590 BBG000BKY1G5 3498
CONSTELLATION ENERGY CORPORATION CEG 0.13 711529 BBG014KFRNP7 2548
VERTEX PHARMACEUTICALS INC VRTX 0.13 717590 BBG000C1S2X2 1607
COMCAST CORP-CLASS A CMCSA 0.12 652059 BBG000BFT2L4 22976
ADOBE SYSTEMS INC ADBE 0.12 626660 BBG000BB5006 2578
STARBUCKS CORP SBUX 0.12 639225 BBG000CTQBF3 7135
PROLOGIS INC PLD 0.12 637636 BBG000B9Z0J8 4824
WESTERN DIGITAL CORP WDC 0.11 609684 BBG000BWNFZ9 2254
Crowdstrike Holdings Inc. Class A CRWD 0.11 602403 BBG00BLYKS03 1543
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.11 568484 BBG00CMNZNK7 568484
AO Smith Corp AOS 0.10 516904 BBG000BC1L02 7839
KENVUE INC KVUE 0.10 536681 BBG01C79X561 31130
Kimberly-Clark Corp KMB 0.10 537724 BBG000BMW2Z0 5574
HORMEL FOODS CORP HRL 0.10 533294 BBG000BLF8D2 23545
MEDTRONIC PLC MDT 0.10 534371 BBG000BNWG87 6167
Marriott International, Inc Class A MAR 0.10 545880 BBG000BGD7W6 1669
CLOROX COMPANY CLX 0.10 538358 BBG000BFS7D3 5195
FRANKLIN RESOURCES INC BEN 0.10 535276 BBG000BD0TF8 22662
EVERSOURCE ENERGY ES 0.10 537751 BBG000BQ87N0 7762
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.10 548072 BBG0113JGQF0 1399
STANLEY BLACK & DECKER INC SWK 0.10 537640 BBG000BTQR96 7566
ILLINOIS TOOL WORKS ITW 0.10 536718 BBG000BMBL90 2062
T ROWE PRICE GROUP INC TROW 0.10 530294 BBG000BVMPN3 5883
MERCADOLIBRE INC MELI 0.10 530809 BBG000GQPB11 307
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.10 540318 BBG00ZXBJ153 5455
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 544647 N/A 13701.8
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 485790 BBG000D4LWF6 8428
GENUINE PARTS CO GPC 0.09 474500 BBG000BKL348 4487
CADENCE DESIGN SYS INC CDNS 0.09 494053 BBG000C13CD9 1778
EQUINIX INC EQIX 0.09 479337 BBG000MBDGM6 489
PPG INDUSTRIES INC PPG 0.09 473478 BBG000BRJ809 4430
REGENERON PHARMACEUTICALS REGN 0.09 494490 BBG000C734W3 640
MONSTER BEVERAGE CORP MNST 0.09 465266 BBG008NVB1C0 6421
CSX CORP CSX 0.09 486525 BBG000BGJRC8 11852
SYNOPSYS INC SNPS 0.09 470621 BBG000BSFRF3 1187
OREILLY AUTOMOTIVE INC ORLY 0.09 494412 BBG000BGYWY6 5356
AMERICAN ELECTRIC POWER AEP 0.09 461664 BBG000BB9KF2 3522
Warner Bros Discovery Inc WBD 0.08 439278 BBG011386VF4 15997
Baker Hughes Company BKR 0.08 406776 BBG00GBVBK51 6663
J M Smucker Co COM STK NPV SJM 0.08 414692 BBG000BT1715 4300
ROSS STORES INC ROST 0.08 448857 BBG000BSBZH7 2072
ABBVIE INC ABBV 0.08 445202 BBG0025Y4RY4 2047
CINTAS CORP CTAS 0.08 427586 BBG000H3YXF8 2528
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 436513 BBG00LBLDDR2 4272
PACCAR INC PCAR 0.07 383114 BBG000BQVTF5 3317
DOORDASH INC CLASS A DASH 0.07 385585 BBG005D7QCJ3 2568
FORTINET INC FTNT 0.07 381142 BBG000BCMBG4 4664
DIGITAL REALTY TRUST INC DLR 0.07 370692 BBG000Q5ZRM7 2057
International Business Machines Corporation IBM 0.07 400428 BBG000BLNNH6 1652
DIAMONDBACK ENERGY INC FANG 0.07 376197 BBG002PHSYX9 1902
SIMON PROPERTY GROUP INC SPG 0.07 373247 BBG000BJ2D31 2001
XCEL ENERGY INC XEL 0.06 316171 BBG000BCTQ65 3980
PUBLIC STORAGE PSA 0.06 321535 BBG000BPPN67 1187
FASTENAL CO FAST 0.06 337792 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 327454 BBG000J6XT05 6680
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 338938 BBG000C30L48 310
AIRBNB INC ABNB 0.06 335273 BBG001Y2XS07 2655
NXP Semiconductors NV NXPI 0.06 315763 BBG000BND699 1604
AUTODESK INC ADSK 0.06 313375 BBG000BM7HL0 1309
ELECTRONIC ARTS INC EA 0.06 325988 BBG000BP0KQ8 1599
Ventas Inc. VTR 0.05 266112 BBG000FRVHB9 3254
PAYPAL HOLDINGS INC PYPL 0.05 256635 BBG0077VNXV6 5674
Old Dominion Freight Line Inc. ODFL 0.05 261250 BBG000CHSS88 1337
IDEXX LABS IDXX 0.05 291059 BBG000BLRT07 518
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 257253 N/A 2859
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 267674 BBG000BFGNJ5 809
FERROVIAL SE FER 0.05 293115 BBG01H7CZ9S9 4506
MICROSTRATEGY INC-CL A MSTR 0.05 259459 BBG000GQJPZ0 2079
Datadog Inc. Class A DDOG 0.05 244127 BBG003NJHZT9 2068
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 268927 BBG00B6BFWH9 2966
INSMED INC INSM 0.04 201293 BBG000BWM5P3 1231
PAYCHEX INC PAYX 0.04 211323 BBG000BQSQ38 2294
ROPER TECHNOLOGIES INC ROP 0.04 235671 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 215668 BBG000BHCP19 3338
CINCINNATI FINANCIAL CORP CINF 0.04 220290 BBG000BFPK65 1400
AXON ENTERPRISE INC AXON 0.04 222538 BBG000BHJWG1 524
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 190185 BBG000BBDV81 3100
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 222978 BBG000BS1YV5 1129
KEURIG DR PEPPER INC KDP 0.04 237312 BBG000TJM7F0 9013
VICI PROPERTIES INC REIT VICI 0.04 212550 BBG00HVVB499 7780
EXTRA SPACE STORAGE INC EXR 0.04 214660 BBG000PV27K3 1637
COPART INC CPRT 0.04 201524 BBG000BM9RH1 6070
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 202792 BBG01BFR8YV1 2849
AVALONBAY COMMUNITIES INC AVB 0.04 215295 BBG000BLPBL5 1318
KRAFT HEINZ CO/THE KHC 0.03 168810 BBG005CPNTQ2 7506
IRON MOUNTAIN INC IRM 0.03 160360 BBG000KCZPC3 1570
EQUITY RESIDENTIAL EQR 0.03 159705 BBG000BG8M31 2700
VERISK ANALYTICS INC VRSK 0.03 167739 BBG000BCZL41 884
CHARTER COMMUNICATIONS INC-A CHTR 0.03 177022 BBG000VPGNR2 820
WORKDAY INC-CLASS A WDAY 0.03 166817 BBG000VC0T95 1284
DEXCOM INC DXCM 0.03 154928 BBG000QTF8K1 2467
CONSOLIDATED EDISON INC ED 0.03 144304 BBG000BHLYS1 1275
Sun Communities Inc SUI 0.02 106562 BBG000BLJWF3 846
AIR PRODUCTS & CHEMICALS INC APD 0.02 106523 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 110854 BBG000D7JKW9 2748
ESSEX PROPERTY TRUST INC ESS 0.02 106238 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 105562 BBG000BGBTC2 2409
Zscaler Inc. ZS 0.02 133696 BBG003338H34 953
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 107187 BBG000B9ZXB4 1044
MID-AMERICA APARTMENT COMM MAA 0.02 106122 BBG000BLMY92 869
KIMCO REALTY CORP KIM 0.02 106283 BBG000CN3S73 4730
INVITATION HOMES INC REIT USD.01 INVH 0.02 106333 BBG00FQH6BS9 4279
MCDONALDS CORP MCD 0.02 106601 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 106425 BBG000BCQM58 1566
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 66680.2 BBG01BGWHFR5 977
ASTRAZENECA PLC AZNCF 0.00 591.66 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.