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 09/01/2026
TICKER RAA
NET ASSETS $614M
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 $30.32
30 DAY MEDIAN BID-ASK SPREAD 0.000983

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 09/01/2026

NET ASSET VALUE

$30.32

CLOSING PRICE

$30.32

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 25
Discount 13 16 8 14 11

Asset Allocation

As of 9/1/2026

Equities

45.76%
Nasdaq
16.81%
US Large Cap
14.94%
Dividend Payers
6.05%
US Small Cap
3.97%
Emerging Ex. China
2.00%
Japan
1.00%
Europe
0.99%

Fixed Income

25.14%
Corporate Bonds
6.95%
High Yield
5.96%
TIPS
4.00%
Emerging Mkt Bonds
3.98%
Long Term Treasuries
2.99%
T-Bills
1.26%

Alternatives

29.10%
Commodities
7.16%
Energy
5.15%
Managed Futures
5.04%
Gold
3.91%
Miners
3.91%
Real Estate
2.95%
Bitcoin
0.98%

Holdings

As of 09/01/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.94 91713300 BBG00RYR67P4 1884780
INVESCO OPTIMUM YIELD DIVERS PDBC 7.16 43975600 N/A 2308430
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.95 42698300 BBG000PWYVH7 531139
SCHWAB HIGH YIELD BOND ETF SCYB 5.96 36589400 BBG01F80WX71 1415450
SCHWAB U.S. TIPS ETF SCHP 4.00 24532900 BBG000BGN6P5 950152
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.98 24430000 BBG000NXKWH0 259645
VANGUARD SMALL-CAP ETF VB 3.97 24368000 BBG000HT3Z79 82352
SPROTT PHYSICAL GOLD TRUS PHYS 3.91 23990800 BBG000Q83F79 732096
iM DBi Managed Futures Strategy ETF DBMF 3.63 22258800 N/A 704614
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.99 18332200 BBG00PZFJPC3 614763
ISHARES MSCI EMR MRK EX CHNA EMXC 2.00 12279400 BBG00H5VLMJ6 125274
NVIDIA CORP NVDA 1.41 8684990 BBG000BBJQV0 39942
Simplify DBi CTA Managed Futures Index ETF SDMF 1.41 8644770 BBG020BR8WR7 329450
APPLE INC AAPL 1.32 8123700 BBG000B9XRY4 24986
MICROSOFT CORP MSFT 1.02 6249720 BBG000BPH459 12474
Franklin FTSE Japan ETF FLJP 1.00 6123070 BBG00J3MDY16 150666
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.00 6149920 BBG01922X0X9 123319
Franklin FTSE Europe ETF FLEE 0.99 6094570 BBG00J3PR1S7 154472
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.98 6033880 N/A 176584
BHP GROUP LTD BHP 0.86 5269950 BBG000BD5NZ4 56776
MICRON TECHNOLOGY INC MU 0.78 4780150 BBG000C5Z1S3 5121
AMAZON.COM INC AMZN 0.76 4666570 BBG000BVPV84 18306
CHEVRON CORP CVX 0.69 4258140 BBG000K4ND22 20176
ADVANCED MICRO DEVICES INC AMD 0.56 3427310 BBG000BBQCY0 7457
ALPHABET INC-CL A GOOGL 0.54 3335120 BBG009S39JX6 9955
CANADIAN NATURAL RESOURCES CNQ 0.52 3209110 BBG000HW5GX3 61940
Suncor Energy Inc. SU 0.52 3211280 BBG000BC1LY5 46547
MARATHON PETROLEUM CORP MPC 0.52 3182350 BBG001DCCGR8 8309
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.52 3174830 BBG023CY9MM1 19294
OCCIDENTAL PETROLEUM CORP OXY 0.51 3137770 BBG000BQQ2S6 51481
EQT CORP EQT 0.51 3151900 BBG000BHZ5J9 56699
Cheniere Energy Inc LNG 0.51 3142190 BBG000C3HSR0 10683
WILLIAMS COMPANIES INC. WMB 0.50 3090070 BBG000BWVCP8 41075
ALPHABET INC-CL C GOOG 0.50 3097510 BBG009S3NB30 9329
SCHLUMBERGER LTD SLB 0.48 2975280 BBG000BT41Q8 52331
Broadcom Inc. AVGO 0.48 2918990 BBG00KHY5S69 7896
META PLATFORMS INC META 0.47 2896170 BBG000MM2P62 5006
Tesla Inc. TSLA 0.46 2828780 BBG000N9MNX3 7944
NEWMONT GOLDCORP CORPORATION COM NEM 0.45 2763220 BBG000BPWXK1 22533
REALTY INCOME CORP O 0.43 2640750 BBG000DHPN63 43037
WELLTOWER INC WELL 0.42 2597740 BBG000BKY1G5 10805
RIO TINTO PLC-SPON ADR RIO 0.40 2440360 BBG000FD28T3 23958
WAL-MART STORES INC WMT 0.38 2356080 BBG000BWXBC2 22244
AUTOMATIC DATA PROCESSING ADP 0.38 2349560 BBG000JG0547 8288
FREEPORT-MCMORAN INC FCX 0.36 2239180 BBG000BJDB15 30898
PROLOGIS INC PLD 0.34 2097990 BBG000B9Z0J8 15020
INTEL CORP INTC 0.33 2055210 BBG000C0G1D1 23100
AGNICO EAGLE MINES LTD AEM 0.33 2052220 BBG000DLVDK3 10608
CISCO SYSTEMS INC CSCO 0.32 1981250 BBG000C3J3C9 18054
PEPSICO INC PEP 0.32 1936790 BBG000DH7JK6 13855
HORMEL FOODS CORP HRL 0.31 1873150 BBG000BLF8D2 85182
COSTCO WHOLESALE CORP COST 0.31 1927860 BBG000F6H8W8 2051
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.31 1908410 BBG000N7QR55 10607
KENVUE INC KVUE 0.30 1829020 BBG01C79X561 97548
Kimberly-Clark Corp KMB 0.30 1827210 BBG000BMW2Z0 17064
MEDTRONIC PLC MDT 0.30 1868780 BBG000BNWG87 20304
STANLEY BLACK & DECKER INC SWK 0.30 1814500 BBG000BTQR96 19199
T ROWE PRICE GROUP INC TROW 0.30 1815740 BBG000BVMPN3 16662
AMCOR PLC COMMON STOCK USD.01 AMCR 0.30 1833850 N/A 40023
GENUINE PARTS CO GPC 0.29 1785690 BBG000BKL348 13243
AO Smith Corp AOS 0.29 1809040 BBG000BC1L02 30929
FRANKLIN RESOURCES INC BEN 0.29 1787430 BBG000BD0TF8 54001
ILLINOIS TOOL WORKS ITW 0.29 1780670 BBG000BMBL90 6598
CLOROX COMPANY CLX 0.29 1788570 BBG000BFS7D3 18833
GLENCORE PLC -UNSP ADR GLNCY 0.28 1719440 BBG001VKX1Z1 107836
EQUINIX INC EQIX 0.28 1720190 BBG000MBDGM6 1674
ABBVIE INC ABBV 0.28 1702930 BBG0025Y4RY4 6550
APPLIED MATERIALS INC AMAT 0.27 1633960 BBG000BBPFB9 3698
LAM RESH CORP LRCX 0.27 1674160 BBG000BNFLM9 5769
NETFLIX INC NFLX 0.26 1572720 BBG000CL9VN6 19462
EVERSOURCE ENERGY ES 0.26 1598520 BBG000BQ87N0 22674
Barrick Mining Corp. B 0.26 1602290 N/A 37176
PPG INDUSTRIES INC PPG 0.25 1538210 BBG000BRJ809 14022
International Business Machines Corporation IBM 0.24 1468700 BBG000BLNNH6 6347
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.22 1371620 BBG000PVRDL2 9464
PALO ALTO NETWORKS INC PANW 0.22 1339010 BBG0014GJCT9 3698
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1323140 N/A 47905
NUCOR CORP NUE 0.20 1239700 BBG000BQ8KV2 4921
ERIE INDEMNITY COMPANY-CL A ERIE 0.20 1232050 BBG000BBTJZ1 4811
SIMON PROPERTY GROUP INC SPG 0.20 1231180 BBG000BJ2D31 5811
SPACE EXPLORATION TECH CORP A SPCX 0.20 1250200 BBG000NQF3Z5 8790
DIGITAL REALTY TRUST INC DLR 0.19 1189060 BBG000Q5ZRM7 6488
Vivmark Residential VMRK 0.19 1179870 BBG000BG8M31 18073.9
PUBLIC STORAGE PSA 0.18 1107860 BBG000BPPN67 3658
AMGEN INC AMGN 0.18 1100120 BBG000BBS2Y0 2511
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.18 1131700 BBG00CMNZNK7 1131700
TEXAS INSTRUMENTS INC TXN 0.17 1054150 BBG000BVV7G1 4161
FRANCO-NEVADA CORP FNV 0.17 1074300 BBG000TRN6Z1 4206
LINDE PLC LIN 0.17 1039230 BBG01FND0CC1 2135
KLA CORPORATION KLAC 0.17 1034060 BBG000BMTFR4 6051
SANDISK CORP/DE SNDKV SNDK 0.17 1038920 BBG01R388JG1 676
Ventas Inc. VTR 0.17 1065890 BBG000FRVHB9 11577
VALE SA-SP ADR VALE 0.16 985900 BBG000BN5LG7 65205
Crowdstrike Holdings Inc. Class A CRWD 0.16 970826 BBG00BLYKS03 4514
T-MOBILE US INC TMUS 0.15 914443 BBG000NDV1D4 5020
GILEAD SCIENCES INC GILD 0.14 852595 BBG000CKGBP2 5687
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 861555 BBG0113JGQF0 1055
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 870383 BBG00ZXBJ153 4137
IRON MOUNTAIN INC IRM 0.13 817358 BBG000KCZPC3 7156
QUALCOMM INC QCOM 0.13 788232 BBG000CGC1X8 4731
SHOPIFY INC - CLASS A SHOP 0.13 818926 BBG004DW5NB8 5857
ANALOG DEVICES INC ADI 0.13 793770 BBG000BB6G37 2239
WESTERN DIGITAL CORP WDC 0.12 735118 BBG000BWNFZ9 1632
BOOKING HOLDINGS INC BKNG 0.12 717595 BBG000BLBVN4 3667
ASML HOLDING NV-NY REG SHS ASML 0.12 707684 BBG000K6MRN4 425
EXTRA SPACE STORAGE INC EXR 0.11 704664 BBG000PV27K3 5029
VICI PROPERTIES INC REIT VICI 0.11 655842 BBG00HVVB499 25679
INTUITIVE SURGICAL INC ISRG 0.10 600770 BBG000BJPDZ1 1627
VERTEX PHARMACEUTICALS INC VRTX 0.10 641298 BBG000C1S2X2 1171
ROPER TECHNOLOGIES INC ROP 0.09 556771 BBG000F1ZSN5 1331
ADOBE SYSTEMS INC ADBE 0.09 533825 BBG000BB5006 1866
STARBUCKS CORP SBUX 0.09 564612 BBG000CTQBF3 5319
FORTINET INC FTNT 0.09 533781 BBG000BCMBG4 3298
CONSTELLATION ENERGY CORPORATION CEG 0.08 465034 BBG014KFRNP7 1659
MERCADOLIBRE INC MELI 0.08 465347 BBG000GQPB11 237
Cash & Other Cash&Other 0.07 428097 N/A 428097
ESSEX PROPERTY TRUST INC ESS 0.07 424080 BBG000CGJMB9 1520
ARM HOLDINGS PLC ARM 0.07 458369 BBG01J1GXZF0 1952
COMCAST CORP-CLASS A CMCSA 0.07 436843 BBG000BFT2L4 16610
Marriott International, Inc Class A MAR 0.07 418188 BBG000BGD7W6 1250
DOORDASH INC CLASS A DASH 0.07 435298 BBG005D7QCJ3 1929
MONSTER BEVERAGE CORP MNST 0.07 413548 BBG008NVB1C0 9192
INTUIT INC INTU 0.07 436336 BBG000BH5DV1 1265
INVITATION HOMES INC REIT USD.01 INVH 0.07 410150 BBG00FQH6BS9 14080
APPLOVIN CORP APP 0.07 450153 BBG006HFPX77 1444
CSX CORP CSX 0.07 423446 BBG000BGJRC8 8695
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 365717 BBG000D4LWF6 5936
Sun Communities Inc SUI 0.06 352419 BBG000BLJWF3 2902
CADENCE DESIGN SYS INC CDNS 0.06 398813 BBG000C13CD9 1274
HOST HOTELS & RESORTS INC HST 0.06 353122 BBG000BL8804 16318
HEALTHPEAK PROPERTIES INC DOC 0.06 343447 BBG000BKYDP9 16496
AIR PRODUCTS & CHEMICALS INC APD 0.06 366689 BBG000BC4JJ4 1201
MID-AMERICA APARTMENT COMM MAA 0.06 355999 BBG000BLMY92 2752
ROSS STORES INC ROST 0.06 342255 BBG000BSBZH7 1493
KIMCO REALTY CORP KIM 0.06 376176 BBG000CN3S73 15596
REGENERON PHARMACEUTICALS REGN 0.06 390491 BBG000C734W3 474
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.06 364262 BBG000B9ZXB4 3344
AIRBNB INC ABNB 0.06 363812 BBG001Y2XS07 1993
MCDONALDS CORP MCD 0.06 363465 BBG000BNSZP1 1392
CINTAS CORP CTAS 0.06 374502 BBG000H3YXF8 1867
CONSOLIDATED EDISON INC ED 0.06 371780 BBG000BHLYS1 3452
SYNOPSYS INC SNPS 0.06 365871 BBG000BSFRF3 882
Datadog Inc. Class A DDOG 0.06 345609 BBG003NJHZT9 1544
W. P. CAREY REIT INC WPC 0.06 368761 BBG000BCQM58 5256
PACCAR INC PCAR 0.05 300982 BBG000BQVTF5 2458
Warner Bros Discovery Inc WBD 0.05 329673 BBG011386VF4 11641
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 278293 BBG000C30L48 227
Baker Hughes Company BKR 0.05 288357 BBG00GBVBK51 4530
OREILLY AUTOMOTIVE INC ORLY 0.05 334210 BBG000BGYWY6 3800
LUMENTUM HOLDINGS INC LITE 0.05 309346 BBG0073F9RT7 356
AMERICAN ELECTRIC POWER AEP 0.05 310843 BBG000BB9KF2 2528
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 313290 BBG022XF4SZ9 1492
XCEL ENERGY INC XEL 0.04 221295 BBG000BCTQ65 2916
FASTENAL CO FAST 0.04 259984 BBG000BJ8YN7 5333
ASTERA LABS INC ALAB 0.04 218890 BBG00TDKHW99 782
TERADYNE INC TER 0.04 246228 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.04 258651 BBG000BND699 1163
DIAMONDBACK ENERGY INC FANG 0.04 261467 BBG002PHSYX9 1287
AUTODESK INC ADSK 0.04 241993 BBG000BM7HL0 977
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 260239 BBG00LBLDDR2 3129
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 223485 BBG00B6BFWH9 2077
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 228584 BBG020QYV152 1482
PAYCHEX INC PAYX 0.03 207557 BBG000BQSQ38 1652
MICROCHIP TECHNOLOGY INC MCHP 0.03 179525 BBG000BHCP19 2514
PAYPAL HOLDINGS INC PYPL 0.03 214473 BBG0077VNXV6 4093
AXON ENTERPRISE INC AXON 0.03 202137 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 178318 BBG000CHSS88 955
EXELON CORP EXC 0.03 208280 BBG000J6XT05 4752
IDEXX LABS IDXX 0.03 197348 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 198479 BBG000BS1YV5 916
KEURIG DR PEPPER INC KDP 0.03 202629 BBG000TJM7F0 6354
FERROVIAL SA FER 0.03 192423 BBG01H0DF657 3334.88
WORKDAY INC-CLASS A WDAY 0.03 189255 BBG000VC0T95 954
Nebius Group NV NBIS 0.03 206923 BBG001NVJ6W4 1037
COREWEAVE INC CRWV 0.03 169430 BBG011ZTRJ21 2070
DEXCOM INC DXCM 0.03 161260 BBG000QTF8K1 1789
MICROSTRATEGY INC-CL A MSTR 0.03 185447 BBG000GQJPZ0 1485
ROCKET LAB CORP RKLB 0.03 168420 BBG01V7JN3F3 2693
THOMSON REUTERS CORP TRI 0.03 187601 N/A 1764
KRAFT HEINZ CO/THE KHC 0.02 141509 BBG005CPNTQ2 5470
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 150127 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 148727 BBG01BFR8YV1 2112
COPART INC CPRT 0.02 137424 BBG000BM9RH1 4233

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.