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 12/24/2025
TICKER RAA
NET ASSETS $509M
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 $27.72
30 DAY MEDIAN BID-ASK SPREAD 0.000363

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 0.21% 3.44% 5.88% 6.54% - - 12.08% 9.50%
RAA - Market Price 0.18% 3.45% 5.89% 6.40% - - 12.11% 9.52%
S&P 500 Index Total Return 0.25% 3.65% 6.34% 8.12% - - 16.12% 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 12/24/2025

NET ASSET VALUE

$27.72

CLOSING PRICE

$27.73

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 37
Discount 0 0 5 13 14

Asset Allocation

As of 12/24/2025

Equities

44.14%
Nasdaq
19.22%
US Large Cap
15.21%
Emerging Ex. China
2.87%
Japan
2.76%
Europe
2.07%
US Small Cap
1.01%
Dividend Payers
1.00%

Fixed Income

26.98%
High Yield
6.94%
Corporate Bonds
5.93%
Emerging Mkt Bonds
4.82%
TIPS
3.92%
Long Term Treasuries
2.91%
T-Bills
2.46%

Alternatives

28.88%
Managed Futures
7.10%
Commodities
6.46%
Gold
4.28%
Energy
3.85%
Miners
3.32%
Bitcoin
2.90%
Real Estate
0.97%

Holdings

As of 12/24/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.21 77351100 BBG00RYR67P4 582288
iM DBi Managed Futures Strategy ETF DBMF 7.10 36091700 N/A 1225940
Schwab High Yield Bond ETF SCYB 6.94 35275400 BBG01F80WX71 1334170
INVESCO OPTIMUM YIELD DIVERS PDBC 6.46 32851400 N/A 2447940
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.93 30139500 BBG000PWYVH7 359231
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.82 24512900 BBG000NXKWH0 253888
SPROTT PHYSICAL GOLD TRUS PHYS 4.28 21774500 BBG000Q83F79 635196
SCHWAB U.S. TIPS ETF SCHP 3.92 19941100 BBG000BGN6P5 751928
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.91 14818300 BBG00PZFJPC3 464377
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.90 14745100 N/A 381898
ISHARES MSCI EMR MRK EX CHNA EMXC 2.87 14580500 BBG00H5VLMJ6 202648
Franklin FTSE Japan ETF FLJP 2.76 14021300 BBG00J3MDY16 405357
Franklin FTSE Europe ETF FLEE 2.07 10505400 BBG00J3PR1S7 285806
NVIDIA CORP NVDA 1.84 9345630 BBG000BBJQV0 49550
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.83 9323500 BBG01922X0X9 186470
APPLE INC AAPL 1.64 8364070 BBG000B9XRY4 30547
MICROSOFT CORP MSFT 1.45 7361780 BBG000BPH459 15085
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 1.45 7367490 BBG00CMNZNK7 7367490
Broadcom Inc. AVGO 1.08 5468340 BBG00KHY5S69 15614
AMAZON.COM INC AMZN 1.01 5125370 BBG000BVPV84 22056
VANGUARD SMALL-CAP ETF VB 1.01 5159240 BBG000HT3Z79 19596
ISHARES MSCI GLOBAL METALS & PICK 0.82 4156130 BBG002GKR8T5 80639
ALPHABET INC-CL A GOOGL 0.75 3825300 BBG009S39JX6 12179
Tesla Inc. TSLA 0.71 3609430 BBG000N9MNX3 7436
ALPHABET INC-CL C GOOG 0.71 3595170 BBG009S3NB30 11389
META PLATFORMS INC META 0.59 2997300 BBG000MM2P62 4490
CHEVRON CORP CVX 0.43 2177280 BBG000K4ND22 14467
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.43 2196840 BBG000N7QR55 11314
SCHLUMBERGER LTD SLB 0.42 2142460 BBG000BT41Q8 56425
EXXON MOBIL CORP XOM 0.41 2093030 BBG000GZQ728 17556
BHP GROUP LTD BHP 0.41 2081450 BBG000BD5NZ4 34195
CANADIAN NATURAL RESOURCES CNQ 0.39 1998380 BBG000HW5GX3 60612
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.39 1965300 BBG000BRK7L6 45451
NETFLIX INC NFLX 0.39 1982640 BBG000CL9VN6 21173
WILLIAMS COMPANIES INC. WMB 0.39 1994700 BBG000BWVCP8 33547
OCCIDENTAL PETROLEUM CORP OXY 0.38 1945200 BBG000BQQ2S6 48630
COSTCO WHOLESALE CORP COST 0.38 1938140 BBG000F6H8W8 2223
Cheniere Energy Inc LNG 0.37 1869610 BBG000C3HSR0 9823
EQT CORP EQT 0.36 1850960 BBG000BHZ5J9 34347
ISHARES MSCI GLOBAL GOLD MIN RING 0.36 1855670 BBG002GKR6T9 24084
ADVANCED MICRO DEVICES INC AMD 0.34 1705700 BBG000BBQCY0 7932
MARATHON PETROLEUM CORP MPC 0.34 1739170 BBG001DCCGR8 10494
NEWMONT GOLDCORP CORPORATION COM NEM 0.32 1643210 BBG000BPWXK1 15690
CISCO SYSTEMS INC CSCO 0.31 1574440 BBG000C3J3C9 20180
MICRON TECHNOLOGY INC MU 0.31 1590210 BBG000C5Z1S3 5547
AGNICO EAGLE MINES LTD AEM 0.25 1273370 BBG000DLVDK3 7022
RIO TINTO PLC-SPON ADR RIO 0.24 1246030 BBG000FD28T3 15404
LAM RESH CORP LRCX 0.22 1121610 BBG000BNFLM9 6325
T-MOBILE US INC TMUS 0.22 1141380 BBG000NDV1D4 5735
INTUITIVE SURGICAL INC ISRG 0.21 1061960 BBG000BJPDZ1 1840
Barrick Mining Corp. B 0.21 1077850 N/A 23715
APPLOVIN CORP APP 0.21 1079610 BBG006HFPX77 1484
SHOPIFY INC - CLASS A SHOP 0.20 1041780 BBG008HBD923 6148
APPLIED MATERIALS INC AMAT 0.20 1026950 BBG000BBPFB9 3938
LINDE PLC LIN 0.20 1012110 BBG01FND0CC1 2382
FREEPORT-MCMORAN INC FCX 0.20 994112 BBG000BJDB15 19147
PEPSICO INC PEP 0.19 991231 BBG000DH7JK6 6896
QUALCOMM INC QCOM 0.19 948477 BBG000CGC1X8 5427
INTUIT INC INTU 0.19 983902 BBG000BH5DV1 1458
AMGEN INC AMGN 0.18 913047 BBG000BBS2Y0 2734
BOOKING HOLDINGS INC BKNG 0.18 893228 BBG000BLBVN4 164
KLA CORPORATION KLAC 0.17 844090 BBG000BMTFR4 661
TEXAS INSTRUMENTS INC TXN 0.16 799742 BBG000BVV7G1 4515
AUTOMATIC DATA PROCESSING ADP 0.16 790302 BBG000JG0547 3062
INTEL CORP INTC 0.15 783262 BBG000C0G1D1 21661
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.15 750298 BBG000PVRDL2 6152
GILEAD SCIENCES INC GILD 0.15 787323 BBG000CKGBP2 6265
ADOBE SYSTEMS INC ADBE 0.15 769143 BBG000BB5006 2179
GLENCORE PLC -UNSP ADR GLNCY 0.14 699943 BBG001VKX1Z1 65908
WELLTOWER INC WELL 0.14 691487 BBG000BKY1G5 3684
HONEYWELL INTERNATIONAL INC HON 0.13 642189 BBG000H556T9 3261
PALO ALTO NETWORKS INC PANW 0.13 636922 BBG0014GJCT9 3402
ANALOG DEVICES INC ADI 0.13 680300 BBG000BB6G37 2451
PROLOGIS INC PLD 0.13 658923 BBG000B9Z0J8 5102
VERTEX PHARMACEUTICALS INC VRTX 0.12 596331 BBG000C1S2X2 1288
Anglo American PLC NGLOD 0.12 595726 N/A 29506
Crowdstrike Holdings Inc. Class A CRWD 0.12 617857 BBG00BLYKS03 1295
CONSTELLATION ENERGY CORPORATION CEG 0.11 566306 BBG014KFRNP7 1556
COMCAST CORP-CLASS A CMCSA 0.11 561949 BBG000BFT2L4 18870
REALTY INCOME CORP O 0.10 512240 BBG000DHPN63 9039
FRANCO-NEVADA CORP FNV 0.10 527464 BBG000RD3CL8 2444
STARBUCKS CORP SBUX 0.10 487546 BBG000CTQBF3 5765
FASTENAL CO FAST 0.10 488993 BBG000BJ8YN7 11690
MERCADOLIBRE INC MELI 0.10 513540 BBG000GQPB11 257
Marriott International, Inc Class A MAR 0.09 437757 BBG000BGD7W6 1389
CADENCE DESIGN SYS INC CDNS 0.09 437238 BBG000C13CD9 1376
ASML HOLDING NV-NY REG SHS ASML 0.09 434732 BBG000K6MRN4 408
SYNOPSYS INC SNPS 0.09 433408 BBG000BSFRF3 910.999
DOORDASH INC CLASS A DASH 0.09 478276 BBG005D7QCJ3 2061
REGENERON PHARMACEUTICALS REGN 0.08 408313 BBG000C734W3 521
MONSTER BEVERAGE CORP MNST 0.08 386635 BBG008NVB1C0 4994
CINTAS CORP CTAS 0.08 386566 BBG000H3YXF8 2022
EQUINIX INC EQIX 0.08 402880 BBG000MBDGM6 531
OREILLY AUTOMOTIVE INC ORLY 0.08 392608 BBG000BGYWY6 4249
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 358853 BBG000D4LWF6 6570
Warner Bros Discovery Inc WBD 0.07 358126 BBG011386VF4 12252
SIMON PROPERTY GROUP INC SPG 0.07 357751 BBG000BJ2D31 1900
CSX CORP CSX 0.07 341613 BBG000BGJRC8 9288
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 375373 BBG00LBLDDR2 3309
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 354696 BBG00ZXBJ153 4101
PAYPAL HOLDINGS INC PYPL 0.06 289093 BBG0077VNXV6 4815
PACCAR INC PCAR 0.06 294275 BBG000BQVTF5 2639
PUBLIC STORAGE PSA 0.06 288812 BBG000BPPN67 1102
AMERICAN ELECTRIC POWER AEP 0.06 315027 BBG000BB9KF2 2732
AIRBNB INC ABNB 0.06 301600 BBG001Y2XS07 2205
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 307762 N/A 2314
ROSS STORES INC ROST 0.06 305586 BBG000BSBZH7 1682
AUTODESK INC ADSK 0.06 311928 BBG000BM7HL0 1046
DIGITAL REALTY TRUST INC DLR 0.06 295171 BBG000Q5ZRM7 1902
FORTINET INC FTNT 0.06 322122 BBG000BCMBG4 3968
Ventas Inc. VTR 0.05 251997 BBG000FRVHB9 3165
ROPER TECHNOLOGIES INC ROP 0.05 238223 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 252178 BBG01C79X561 14653
Kimberly-Clark Corp KMB 0.05 236527 BBG000BMW2Z0 2340
GENUINE PARTS CO GPC 0.05 229647 BBG000BKL348 1830
PPG INDUSTRIES INC PPG 0.05 235473 BBG000BRJ809 2274
HORMEL FOODS CORP HRL 0.05 266024 BBG000BLF8D2 10925
ILLINOIS TOOL WORKS ITW 0.05 254721 BBG000BMBL90 1011
AMCOR PLC AMCR 0.05 243050 BBG00LNJRQ09 29425
TARGET CORP TGT 0.05 272215 BBG000H8TVT2 2820
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 239272 BBG000BS1YV5 951
FRANKLIN RESOURCES INC BEN 0.05 271590 BBG000BD0TF8 11232
AXON ENTERPRISE INC AXON 0.05 233504 BBG000BHJWG1 395
NXP Semiconductors NV NXPI 0.05 274817 BBG000BND699 1220
IDEXX LABS IDXX 0.05 278713 BBG000BLRT07 405
STANLEY BLACK & DECKER INC SWK 0.05 262943 BBG000BTQR96 3512
ASTRAZENECA PLC-SPONS ADR AZN 0.05 275131 BBG000BZ0DK8 2976
ELECTRONIC ARTS INC EA 0.05 261094 BBG000BP0KQ8 1275
T ROWE PRICE GROUP INC TROW 0.05 259292 BBG000BVMPN3 2477
ABBVIE INC ABBV 0.05 255408 BBG0025Y4RY4 1111
EVERSOURCE ENERGY ES 0.05 234859 BBG000BQ87N0 3497
WORKDAY INC-CLASS A WDAY 0.05 263906 BBG000VC0T95 1217
XCEL ENERGY INC XEL 0.04 216787 BBG000BCTQ65 2926
PAYCHEX INC PAYX 0.04 217702 BBG000BQSQ38 1900
EXELON CORP EXC 0.04 223606 BBG000J6XT05 5138
Baker Hughes Company BKR 0.04 223873 BBG00GBVBK51 4942
AVALONBAY COMMUNITIES INC AVB 0.04 202475 BBG000BLPBL5 1106
MEDTRONIC PLC MDT 0.04 227495 BBG000BNWG87 2356
Zscaler Inc. ZS 0.04 209854 BBG003338H34 914
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 213037 BBG000BBDV81 2494
DIAMONDBACK ENERGY INC FANG 0.04 207731 BBG002PHSYX9 1414
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 189879 BBG01BFR8YV1 2277
International Business Machines Corporation IBM 0.04 205883 BBG000BLNNH6 676
Datadog Inc. Class A DDOG 0.04 223901 BBG003NJHZT9 1622
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 213265 BBG00B6BFWH9 2330
MICROSTRATEGY INC-CL A MSTR 0.04 205847 BBG000GQJPZ0 1297
EXTRA SPACE STORAGE INC EXR 0.04 197604 BBG000PV27K3 1517
KEURIG DR PEPPER INC KDP 0.04 185500 BBG000TJM7F0 6625
COPART INC CPRT 0.04 193897 BBG000BM9RH1 4959
VICI PROPERTIES INC REIT VICI 0.04 195916 BBG00HVVB499 7007
MICROCHIP TECHNOLOGY INC MCHP 0.03 174903 BBG000BHCP19 2676
KRAFT HEINZ CO/THE KHC 0.03 142439 BBG005CPNTQ2 5930
Old Dominion Freight Line Inc. ODFL 0.03 166531 BBG000CHSS88 1045
VERISK ANALYTICS INC VRSK 0.03 146630 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 137758 BBG01BGWHFR5 855
COSTAR GROUP INC CSGP 0.03 138663 BBG000D7JKW9 2073
CHARTER COMMUNICATIONS INC-A CHTR 0.03 141336 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 154002 BBG000BG8M31 2455
IRON MOUNTAIN INC IRM 0.03 143125 BBG000KCZPC3 1757
BIOGEN INC BIIB 0.03 131895 BBG000C17X76 748
DEXCOM INC DXCM 0.03 135514 BBG000QTF8K1 2010
AFLAC INC AFL 0.03 145355 BBG000BBBNC6 1314
Sun Communities Inc SUI 0.02 97195.5 BBG000BLJWF3 781
GLOBALFOUNDRIES INC GFS 0.02 97383 BBG000C2L5G9 2724
ESSEX PROPERTY TRUST INC ESS 0.02 99486.7 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 106359 BBG000DV7MX4 1931
MID-AMERICA APARTMENT COMM MAA 0.02 102530 BBG000BLMY92 746
LULULEMON ATHLETICA INC LULU 0.02 122032 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 91132.5 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 115200 BBG000BFS7D3 1173
KIMCO REALTY CORP KIM 0.02 99731.3 BBG000CN3S73 4884
Omega Healthcare Investors Inc OHI 0.02 96995.6 BBG000BGBTC2 2191
INVITATION HOMES INC REIT USD.01 INVH 0.02 98106.1 BBG00FQH6BS9 3591
W. P. CAREY REIT INC WPC 0.02 96701.4 BBG000BCQM58 1496
TRADE DESK INC/THE -CLASS A TTD 0.02 83978.4 BBG00629NGT2 2203
AO Smith Corp AOS 0.01 51921.4 BBG000BC1L02 764
AIR PRODUCTS & CHEMICALS INC APD 0.01 47447.1 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 50063.6 BBG000BHLYS1 503
ARM HOLDINGS PLC ARM 0.01 71168.9 BBG01J1GXZF0 638
JOHNSON & JOHNSON JNJ 0.01 50282.8 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 50446.1 BBG000BNSZP1 161
Solstice Advanced Materials Inc. SOLSV 0.00 7205.85 BBG01X5744P5 145.25
Cash & Other Cash&Other -0.78 -3955250 N/A -3955250

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.