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 04/08/2026
TICKER RAA
NET ASSETS $550M
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 $28.31
30 DAY MEDIAN BID-ASK SPREAD 0.000727

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 10.18%
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 04/08/2026

NET ASSET VALUE

$28.31

CLOSING PRICE

$28.30

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 3
Discount 5 13 16 8 2

Asset Allocation

As of 4/8/2026

Equities

47.86%
Nasdaq
21.09%
US Large Cap
17.17%
Dividend Payers
2.33%
Emerging Ex. China
2.12%
Japan
2.08%
US Small Cap
2.04%
Europe
1.03%

Fixed Income

27.90%
High Yield
6.85%
Corporate Bonds
5.85%
Emerging Mkt Bonds
3.93%
TIPS
3.90%
Long Term Treasuries
3.88%
T-Bills
3.49%

Alternatives

24.24%
Managed Futures
7.61%
Commodities
4.78%
Miners
3.10%
Gold
2.97%
Energy
2.86%
Bitcoin
2.03%
Real Estate
0.89%

Holdings

As of 04/08/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.17 94417600 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.61 41870200 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.85 37672100 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.85 32154300 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.78 26300300 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.93 21603700 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.90 21423000 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.88 21360700 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.97 16312100 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.92 16046700 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.12 11650800 BBG00H5VLMJ6 137391
Franklin FTSE Japan ETF FLJP 2.08 11426800 BBG00J3MDY16 297962
VANGUARD SMALL-CAP ETF VB 2.04 11190500 BBG000HT3Z79 40976
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.03 11173000 N/A 354135
NVIDIA CORP NVDA 1.83 10060800 BBG000BBJQV0 55255
APPLE INC AAPL 1.60 8794060 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.15 6322060 BBG000BPH459 16889
Franklin FTSE Europe ETF FLEE 1.03 5648540 BBG00J3PR1S7 148061
AMAZON.COM INC AMZN 0.97 5319070 BBG000BVPV84 24041
ALPHABET INC-CL A GOOGL 0.76 4159430 BBG009S39JX6 13108
WAL-MART STORES INC WMT 0.73 4019000 BBG000BWXBC2 31581
Tesla Inc. TSLA 0.71 3922320 BBG000N9MNX3 11427
META PLATFORMS INC META 0.71 3919490 BBG000MM2P62 6400
Broadcom Inc. AVGO 0.70 3829230 BBG00KHY5S69 10921
ALPHABET INC-CL C GOOG 0.70 3856510 BBG009S3NB30 12253
BHP GROUP LTD BHP 0.63 3475210 BBG000BD5NZ4 45156
MICRON TECHNOLOGY INC MU 0.59 3218450 BBG000C5Z1S3 7913
COSTCO WHOLESALE CORP COST 0.54 2942450 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.48 2662460 BBG000CL9VN6 26788
ADVANCED MICRO DEVICES INC AMD 0.44 2446630 BBG000BBQCY0 10554
CISCO SYSTEMS INC CSCO 0.40 2221730 BBG000C3J3C9 26544
NEWMONT GOLDCORP CORPORATION COM NEM 0.40 2219920 BBG000BPWXK1 18789
RIO TINTO PLC-SPON ADR RIO 0.37 2043030 BBG000FD28T3 20752
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.37 2036800 BBG000N7QR55 14470
APPLIED MATERIALS INC AMAT 0.36 1996870 BBG000BBPFB9 5177
LAM RESH CORP LRCX 0.36 2005940 BBG000BNFLM9 8138
CHEVRON CORP CVX 0.35 1903440 BBG000K4ND22 9868
INTEL CORP INTC 0.34 1896600 BBG000C0G1D1 32173
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.34 1861830 BBG00CMNZNK7 1861830
WILLIAMS COMPANIES INC. WMB 0.30 1631120 BBG000BWVCP8 22341
AGNICO EAGLE MINES LTD AEM 0.30 1651420 BBG000DLVDK3 7660
Cheniere Energy Inc LNG 0.29 1580260 BBG000C3HSR0 5742
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.29 1609690 BBG000BRK7L6 24941
SCHLUMBERGER LTD SLB 0.29 1621200 BBG000BT41Q8 31249
CANADIAN NATURAL RESOURCES CNQ 0.28 1560840 BBG000HW5GX3 33617
OCCIDENTAL PETROLEUM CORP OXY 0.28 1518520 BBG000BQQ2S6 25406
EQT CORP EQT 0.28 1535130 BBG000BHZ5J9 25509
MARATHON PETROLEUM CORP MPC 0.28 1543360 BBG001DCCGR8 6653
LINDE PLC LIN 0.27 1502440 BBG01FND0CC1 3002
FREEPORT-MCMORAN INC FCX 0.27 1491830 BBG000BJDB15 22916
EXXON MOBIL CORP XOM 0.27 1505180 BBG000GZQ728 9635
KLA CORPORATION KLAC 0.26 1424830 BBG000BMTFR4 852
T-MOBILE US INC TMUS 0.26 1422540 BBG000NDV1D4 7198
PEPSICO INC PEP 0.25 1368120 BBG000DH7JK6 8838
GLENCORE PLC -UNSP ADR GLNCY 0.24 1339400 BBG001VKX1Z1 88702
TEXAS INSTRUMENTS INC TXN 0.22 1219560 BBG000BVV7G1 5838
AMGEN INC AMGN 0.22 1218390 BBG000BBS2Y0 3483
Barrick Mining Corp. B 0.21 1175490 N/A 27652
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1087350 BBG000PVRDL2 7759
GILEAD SCIENCES INC GILD 0.20 1116180 BBG000CKGBP2 7886
ANALOG DEVICES INC ADI 0.20 1073940 BBG000BB6G37 3102
INTUITIVE SURGICAL INC ISRG 0.19 1046140 BBG000BJPDZ1 2263
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1063910 BBG020BR8WR7 42454
AUTOMATIC DATA PROCESSING ADP 0.19 1043250 BBG000JG0547 5196
FRANCO-NEVADA CORP FNV 0.18 975030 BBG000RD3CL8 3677
HONEYWELL INTERNATIONAL INC HON 0.17 950337 BBG000H556T9 4088
SHOPIFY INC - CLASS A SHOP 0.17 910838 BBG008HBD923 7584
QUALCOMM INC QCOM 0.16 884154 BBG000CGC1X8 6934
BOOKING HOLDINGS INC BKNG 0.16 905000 BBG000BLBVN4 5000
REALTY INCOME CORP O 0.15 812879 BBG000DHPN63 12946
PALO ALTO NETWORKS INC PANW 0.15 850306 BBG0014GJCT9 4893
VALE SA-SP ADR VALE 0.15 844382 BBG000BN5LG7 50441
ASML HOLDING NV-NY REG SHS ASML 0.15 804314 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 818955 N/A 34864
WESTERN DIGITAL CORP WDC 0.14 764965 BBG000BWNFZ9 2258
APPLOVIN CORP APP 0.14 754234 BBG006HFPX77 1928
CONSTELLATION ENERGY CORPORATION CEG 0.13 726026 BBG014KFRNP7 2554
VERTEX PHARMACEUTICALS INC VRTX 0.13 715155 BBG000C1S2X2 1611
WELLTOWER INC WELL 0.13 717678 BBG000BKY1G5 3506
STARBUCKS CORP SBUX 0.13 695343 BBG000CTQBF3 7153
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 695316 BBG0113JGQF0 1401
COMCAST CORP-CLASS A CMCSA 0.12 644031 BBG000BFT2L4 23034
INTUIT INC INTU 0.12 674883 BBG000BH5DV1 1738
Crowdstrike Holdings Inc. Class A CRWD 0.12 658958 BBG00BLYKS03 1545
PROLOGIS INC PLD 0.12 664515 BBG000B9Z0J8 4836
Marriott International, Inc Class A MAR 0.11 583174 BBG000BGD7W6 1673
ADOBE SYSTEMS INC ADBE 0.11 618377 BBG000BB5006 2584
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.11 625927 BBG00ZXBJ153 5469
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 581986 N/A 13735.8
AO Smith Corp AOS 0.10 524745 BBG000BC1L02 7859
KENVUE INC KVUE 0.10 541181 BBG01C79X561 31210
Kimberly-Clark Corp KMB 0.10 542036 BBG000BMW2Z0 5588
MEDTRONIC PLC MDT 0.10 547946 BBG000BNWG87 6181
CLOROX COMPANY CLX 0.10 550224 BBG000BFS7D3 5207
FRANKLIN RESOURCES INC BEN 0.10 565274 BBG000BD0TF8 22720
EVERSOURCE ENERGY ES 0.10 544351 BBG000BQ87N0 7782
STANLEY BLACK & DECKER INC SWK 0.10 542180 BBG000BTQR96 7584
ILLINOIS TOOL WORKS ITW 0.10 556808 BBG000BMBL90 2066
T ROWE PRICE GROUP INC TROW 0.10 541404 BBG000BVMPN3 5897
MERCADOLIBRE INC MELI 0.10 545152 BBG000GQPB11 307
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 496996 BBG000D4LWF6 8448
GENUINE PARTS CO GPC 0.09 483023 BBG000BKL348 4497
HORMEL FOODS CORP HRL 0.09 510812 BBG000BLF8D2 23605
CADENCE DESIGN SYS INC CDNS 0.09 515889 BBG000C13CD9 1782
EQUINIX INC EQIX 0.09 497636 BBG000MBDGM6 489
PPG INDUSTRIES INC PPG 0.09 490487 BBG000BRJ809 4440
REGENERON PHARMACEUTICALS REGN 0.09 496339 BBG000C734W3 640
MONSTER BEVERAGE CORP MNST 0.09 483676 BBG008NVB1C0 6437
CSX CORP CSX 0.09 500707 BBG000BGJRC8 11882
SYNOPSYS INC SNPS 0.09 487680 BBG000BSFRF3 1189
OREILLY AUTOMOTIVE INC ORLY 0.09 499546 BBG000BGYWY6 5368
AMERICAN ELECTRIC POWER AEP 0.09 475526 BBG000BB9KF2 3530
PACCAR INC PCAR 0.08 412932 BBG000BQVTF5 3325
Warner Bros Discovery Inc WBD 0.08 441819 BBG011386VF4 16037
Baker Hughes Company BKR 0.08 421846 BBG00GBVBK51 6679
DOORDASH INC CLASS A DASH 0.08 413616 BBG005D7QCJ3 2574
ROSS STORES INC ROST 0.08 466000 BBG000BSBZH7 2076
ABBVIE INC ABBV 0.08 433971 BBG0025Y4RY4 2051
CINTAS CORP CTAS 0.08 442411 BBG000H3YXF8 2534
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 444258 BBG00LBLDDR2 4282
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 407011 BBG000C30L48 310
J M Smucker Co COM STK NPV SJM 0.07 404235 BBG000BT1715 4310
FORTINET INC FTNT 0.07 390493 BBG000BCMBG4 4676
DIGITAL REALTY TRUST INC DLR 0.07 382583 BBG000Q5ZRM7 2061
International Business Machines Corporation IBM 0.07 400321 BBG000BLNNH6 1656
SIMON PROPERTY GROUP INC SPG 0.07 389050 BBG000BJ2D31 2005
XCEL ENERGY INC XEL 0.06 325025 BBG000BCTQ65 3990
PUBLIC STORAGE PSA 0.06 344810 BBG000BPPN67 1189
FASTENAL CO FAST 0.06 350750 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 329242 BBG000J6XT05 6696
IDEXX LABS IDXX 0.06 306573 BBG000BLRT07 518
AIRBNB INC ABNB 0.06 349655 BBG001Y2XS07 2661
NXP Semiconductors NV NXPI 0.06 328466 BBG000BND699 1608
AUTODESK INC ADSK 0.06 315492 BBG000BM7HL0 1311
FERROVIAL SE FER 0.06 317159 BBG01H7CZ9S9 4516
DIAMONDBACK ENERGY INC FANG 0.06 355412 BBG002PHSYX9 1906
ELECTRONIC ARTS INC EA 0.06 326996 BBG000BP0KQ8 1603
Ventas Inc. VTR 0.05 274171 BBG000FRVHB9 3262
PAYPAL HOLDINGS INC PYPL 0.05 260795 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 277883 BBG000CHSS88 1339
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 265400 BBG000BFGNJ5 811
MICROSTRATEGY INC-CL A MSTR 0.05 267249 BBG000GQJPZ0 2083
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 289532 BBG00B6BFWH9 2972
INSMED INC INSM 0.04 197502 BBG000BWM5P3 1233
PAYCHEX INC PAYX 0.04 206567 BBG000BQSQ38 2298
ROPER TECHNOLOGIES INC ROP 0.04 236996 BBG000F1ZSN5 666
MICROCHIP TECHNOLOGY INC MCHP 0.04 236663 BBG000BHCP19 3346
CINCINNATI FINANCIAL CORP CINF 0.04 228876 BBG000BFPK65 1402
AXON ENTERPRISE INC AXON 0.04 205162 BBG000BHJWG1 524
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 228609 BBG000BS1YV5 1131
KEURIG DR PEPPER INC KDP 0.04 233464 BBG000TJM7F0 9035
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 246705 N/A 2865
VICI PROPERTIES INC REIT VICI 0.04 216294 BBG00HVVB499 7800
EXTRA SPACE STORAGE INC EXR 0.04 226015 BBG000PV27K3 1641
COPART INC CPRT 0.04 201806 BBG000BM9RH1 6084
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 210556 BBG01BFR8YV1 2855
AVALONBAY COMMUNITIES INC AVB 0.04 222420 BBG000BLPBL5 1320
Datadog Inc. Class A DDOG 0.04 241388 BBG003NJHZT9 2072
KRAFT HEINZ CO/THE KHC 0.03 172676 BBG005CPNTQ2 7524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 189588 BBG000BBDV81 3108
IRON MOUNTAIN INC IRM 0.03 168371 BBG000KCZPC3 1574
EQUITY RESIDENTIAL EQR 0.03 164525 BBG000BG8M31 2706
VERISK ANALYTICS INC VRSK 0.03 155431 BBG000BCZL41 886
CHARTER COMMUNICATIONS INC-A CHTR 0.03 182180 BBG000VPGNR2 822
WORKDAY INC-CLASS A WDAY 0.03 153253 BBG000VC0T95 1286
DEXCOM INC DXCM 0.03 162723 BBG000QTF8K1 2473
CONSOLIDATED EDISON INC ED 0.03 145029 BBG000BHLYS1 1277
Sun Communities Inc SUI 0.02 109070 BBG000BLJWF3 848
AIR PRODUCTS & CHEMICALS INC APD 0.02 109449 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 106910 BBG000D7JKW9 2754
ESSEX PROPERTY TRUST INC ESS 0.02 110584 BBG000CGJMB9 439
Omega Healthcare Investors Inc OHI 0.02 109665 BBG000BGBTC2 2415
Zscaler Inc. ZS 0.02 131647 BBG003338H34 955
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 108324 BBG000B9ZXB4 1046
MID-AMERICA APARTMENT COMM MAA 0.02 109824 BBG000BLMY92 871
KIMCO REALTY CORP KIM 0.02 107501 BBG000CN3S73 4742
INVITATION HOMES INC REIT USD.01 INVH 0.02 110699 BBG00FQH6BS9 4289
MCDONALDS CORP MCD 0.02 105304 BBG000BNSZP1 343
W. P. CAREY REIT INC WPC 0.02 112129 BBG000BCQM58 1570
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 62284 BBG01BGWHFR5 979
ASTRAZENECA PLC AZNCF 0.00 612.81 BBG000D3MHB4 3
Cash & Other Cash&Other -0.01 -69727.6 N/A -69727.6

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.