RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 10/07/2026
TICKER RAA
NET ASSETS $613M
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 $30.21
30 DAY MEDIAN BID-ASK SPREAD 0.000667

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
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 10/07/2026

NET ASSET VALUE

$30.21

CLOSING PRICE

$30.21

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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 2
Discount 16 8 14 21 2

Asset Allocation

As of 10/7/2026

Equities

42.39%
Nasdaq
18.24%
US Large Cap
15.15%
US Small Cap
2.98%
Dividend Payers
2.04%
Emerging Ex. China
2.01%
Japan
0.99%
Europe
0.98%

Fixed Income

28.79%
Long Term Treasuries
7.87%
High Yield
5.96%
Corporate Bonds
5.94%
Emerging Mkt Bonds
3.95%
TIPS
2.97%
T-Bills
2.10%

Alternatives

28.82%
Commodities
9.96%
Energy
5.01%
Managed Futures
5.01%
Miners
3.94%
Gold
1.96%
Real Estate
1.96%
Bitcoin
0.98%

Holdings

As of 10/07/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.15 92916400 BBG00RYR67P4 1868420
INVESCO OPTIMUM YIELD DIVERS PDBC 9.96 61054900 N/A 3145540
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 7.87 48285300 BBG00PZFJPC3 1711640
SCHWAB HIGH YIELD BOND ETF SCYB 5.96 36539400 BBG01F80WX71 1451700
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.94 36440300 BBG000PWYVH7 465572
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.95 24247900 BBG000NXKWH0 267106
iM DBi Managed Futures Strategy ETF DBMF 3.54 21732100 N/A 657156
Vanguard Morningstar Small-Cap ETF VB 2.98 18290700 BBG000HT3Z79 63735
SCHWAB U.S. TIPS ETF SCHP 2.97 18233700 BBG000BGN6P5 725574
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 12321700 BBG00H5VLMJ6 122628
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 12163900 BBG01922X0X9 243814
SPROTT PHYSICAL GOLD TRUS PHYS 1.96 12019800 BBG000Q83F79 388235
NVIDIA CORP NVDA 1.53 9394550 BBG000BBJQV0 39561
Simplify DBi CTA Managed Futures Index ETF SDMF 1.47 9010880 BBG020BR8WR7 327340
APPLE INC AAPL 1.30 7977400 BBG000B9XRY4 23695
MICROSOFT CORP MSFT 1.05 6426520 BBG000BPH459 12131
Franklin FTSE Japan ETF FLJP 0.99 6095490 BBG00J3MDY16 145895
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.98 6022760 N/A 163307
Franklin FTSE Europe ETF FLEE 0.98 5987300 BBG00J3PR1S7 160430
MICRON TECHNOLOGY INC MU 0.92 5614080 BBG000C5Z1S3 5160
BHP GROUP LTD BHP 0.85 5183340 BBG000BD5NZ4 60823
ADVANCED MICRO DEVICES INC AMD 0.78 4800030 BBG000BBQCY0 7432
AMAZON.COM INC AMZN 0.75 4586290 BBG000BVPV84 17645
META PLATFORMS INC META 0.59 3590680 BBG000MM2P62 4978
CHEVRON CORP CVX 0.56 3414720 BBG000K4ND22 16645
MARATHON PETROLEUM CORP MPC 0.55 3371350 BBG001DCCGR8 7623
ALPHABET INC-CL A GOOGL 0.54 3322040 BBG009S39JX6 9478
EQT CORP EQT 0.53 3244320 BBG000BHZ5J9 62021
Tesla Inc. TSLA 0.53 3278640 BBG000N9MNX3 8678
SPACE EXPLORATION TECH CORP A SPCX 0.53 3275910 BBG000NQF3Z5 19546
WILLIAMS COMPANIES INC. WMB 0.52 3207840 BBG000BWVCP8 44890
OCCIDENTAL PETROLEUM CORP OXY 0.52 3208300 BBG000BQQ2S6 55116
ALPHABET INC-CL C GOOG 0.51 3100620 BBG009S3NB30 8926
Cheniere Energy Inc LNG 0.50 3092190 BBG000C3HSR0 11360
Broadcom Inc. AVGO 0.50 3064040 BBG00KHY5S69 8138
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.50 3051000 BBG023CY9MM1 18598
Suncor Energy Inc. SU 0.49 3017310 BBG000BC1LY5 44281
CANADIAN NATURAL RESOURCES CNQ 0.49 3022760 BBG000HW5GX3 63637
SCHLUMBERGER LTD SLB 0.48 2967000 BBG000BT41Q8 61864
NEWMONT GOLDCORP CORPORATION COM NEM 0.47 2853490 BBG000BPWXK1 25132
INTEL CORP INTC 0.43 2626190 BBG000C0G1D1 23216
WAL-MART STORES INC WMT 0.41 2490060 BBG000BWXBC2 23022
FREEPORT-MCMORAN INC FCX 0.39 2390280 BBG000BJDB15 33263
RIO TINTO PLC-SPON ADR RIO 0.38 2318750 BBG000FD28T3 24890
AGNICO EAGLE MINES LTD AEM 0.35 2139790 BBG000DLVDK3 11862
CISCO SYSTEMS INC CSCO 0.34 2095410 BBG000C3J3C9 17850
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 2015350 BBG000N7QR55 10382
COSTCO WHOLESALE CORP COST 0.32 1992860 BBG000F6H8W8 2115
APPLIED MATERIALS INC AMAT 0.31 1911310 BBG000BBPFB9 3671
LAM RESH CORP LRCX 0.31 1882160 BBG000BNFLM9 5712
GLENCORE PLC -UNSP ADR GLNCY 0.26 1613050 BBG001VKX1Z1 107680
WELLTOWER INC WELL 0.26 1614180 BBG000BKY1G5 7300
Barrick Mining Corp. B 0.25 1520970 N/A 38820
PALO ALTO NETWORKS INC PANW 0.24 1461670 BBG0014GJCT9 3604
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1389710 BBG000PVRDL2 10395
NETFLIX INC NFLX 0.22 1336220 BBG000CL9VN6 19171
PROLOGIS INC PLD 0.22 1320100 BBG000B9Z0J8 10370
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1331180 N/A 49801
NUCOR CORP NUE 0.21 1260050 BBG000BQ8KV2 5113
TEXAS INSTRUMENTS INC TXN 0.20 1248680 BBG000BVV7G1 4321
KLA CORPORATION KLAC 0.20 1235110 BBG000BMTFR4 6275
Crowdstrike Holdings Inc. Class A CRWD 0.20 1222090 BBG00BLYKS03 4604
EQUINIX INC EQIX 0.19 1177250 BBG000MBDGM6 1141
REALTY INCOME CORP O 0.19 1189860 BBG000DHPN63 22303
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.19 1136730 BBG00ZXBJ153 3993
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.19 1157310 BBG00CMNZNK7 1157310
PEPSICO INC PEP 0.18 1126070 BBG000DH7JK6 9101
SANDISK CORP/DE SNDKV SNDK 0.18 1093300 BBG01R388JG1 646
AUTOMATIC DATA PROCESSING ADP 0.18 1092430 BBG000JG0547 4138
FRANCO-NEVADA CORP FNV 0.17 1038670 BBG000TRN6Z1 4366
AMGEN INC AMGN 0.17 1064510 BBG000BBS2Y0 2577
LINDE PLC LIN 0.17 1064270 BBG01FND0CC1 2199
VALE SA-SP ADR VALE 0.16 989801 BBG000BN5LG7 72726
SHOPIFY INC - CLASS A SHOP 0.15 903867 BBG004DW5NB8 5444
ANALOG DEVICES INC ADI 0.15 944414 BBG000BB6G37 2303
QUALCOMM INC QCOM 0.14 859209 BBG000CGC1X8 4851
GILEAD SCIENCES INC GILD 0.14 868030 BBG000CKGBP2 5911
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 861677 BBG0113JGQF0 1067
T-MOBILE US INC TMUS 0.14 873792 BBG000NDV1D4 5212
DIGITAL REALTY TRUST INC DLR 0.13 825650 BBG000Q5ZRM7 4575
SIMON PROPERTY GROUP INC SPG 0.13 812490 BBG000BJ2D31 4112
PUBLIC STORAGE PSA 0.12 735994 BBG000BPPN67 2610
ASML HOLDING NV-NY REG SHS ASML 0.12 749058 BBG000K6MRN4 415
WESTERN DIGITAL CORP WDC 0.11 683538 BBG000BWNFZ9 1686
INTUITIVE SURGICAL INC ISRG 0.11 700953 BBG000BJPDZ1 1691
FORTINET INC FTNT 0.11 648473 BBG000BCMBG4 3426
Vivmark Residential VMRK 0.11 703298 BBG000BG8M31 11862
Ventas Inc. VTR 0.11 681621 BBG000FRVHB9 8516
AO Smith Corp AOS 0.10 584722 BBG000BC1L02 10566
Kimberly-Clark Corp KMB 0.10 595282 BBG000BMW2Z0 6170
HORMEL FOODS CORP HRL 0.10 601065 BBG000BLF8D2 30745
MEDTRONIC PLC MDT 0.10 596945 BBG000BNWG87 6981
ARM HOLDINGS PLC ARM 0.10 593450 BBG01J1GXZF0 2016
FRANKLIN RESOURCES INC BEN 0.10 614522 BBG000BD0TF8 18920
STANLEY BLACK & DECKER INC SWK 0.10 597859 BBG000BTQR96 6770
CLOROX COMPANY CLX 0.10 616328 BBG000BFS7D3 7497
VERTEX PHARMACEUTICALS INC VRTX 0.10 608285 BBG000C1S2X2 1203
T ROWE PRICE GROUP INC TROW 0.10 606728 BBG000BVMPN3 5830
ABBVIE INC ABBV 0.10 635525 BBG0025Y4RY4 2342
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 595547 N/A 14434
KENVUE INC KVUE 0.10 597405 BBG01C79X561 34079
IRON MOUNTAIN INC IRM 0.09 572731 BBG000KCZPC3 4948
International Business Machines Corporation IBM 0.09 576413 BBG000BLNNH6 2614
BOOKING HOLDINGS INC BKNG 0.09 535413 BBG000BLBVN4 3435
GENUINE PARTS CO GPC 0.09 575883 BBG000BKL348 4592
PPG INDUSTRIES INC PPG 0.08 504279 BBG000BRJ809 4799
CONSTELLATION ENERGY CORPORATION CEG 0.08 516194 BBG014KFRNP7 1723
ILLINOIS TOOL WORKS ITW 0.08 515510 BBG000BMBL90 1974
EVERSOURCE ENERGY ES 0.08 517157 BBG000BQ87N0 7927
STARBUCKS CORP SBUX 0.08 515719 BBG000CTQBF3 5511
LUMENTUM HOLDINGS INC LITE 0.08 468872 BBG0073F9RT7 422
CADENCE DESIGN SYS INC CDNS 0.07 443726 BBG000C13CD9 1246
Marriott International, Inc Class A MAR 0.07 457033 BBG000BGD7W6 1282
MONSTER BEVERAGE CORP MNST 0.07 409247 BBG008NVB1C0 9544
MERCADOLIBRE INC MELI 0.07 443849 BBG000GQPB11 237
EXTRA SPACE STORAGE INC EXR 0.07 455419 BBG000PV27K3 3458
ADOBE SYSTEMS INC ADBE 0.07 442263 BBG000BB5006 1900
APPLOVIN CORP APP 0.07 415184 BBG006HFPX77 1476
CSX CORP CSX 0.07 422179 BBG000BGJRC8 9019
VICI PROPERTIES INC REIT VICI 0.07 405686 BBG00HVVB499 17919
SYNOPSYS INC SNPS 0.07 459440 BBG000BSFRF3 914
Datadog Inc. Class A DDOG 0.07 427632 BBG003NJHZT9 1576
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 347561 BBG000BBTJZ1 1596
COMCAST CORP-CLASS A CMCSA 0.06 361299 BBG000BFT2L4 17254
ROSS STORES INC ROST 0.06 343933 BBG000BSBZH7 1525
REGENERON PHARMACEUTICALS REGN 0.06 351765 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 375404 BBG005D7QCJ3 1963
INTUIT INC INTU 0.06 383730 BBG000BH5DV1 1297
CINTAS CORP CTAS 0.06 380774 BBG000H3YXF8 1931
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 365781 BBG000D4LWF6 6160
ASTERA LABS INC ALAB 0.05 287452 BBG00TDKHW99 752
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 309438 BBG000C30L48 217
ESSEX PROPERTY TRUST INC ESS 0.05 282793 BBG000CGJMB9 1055
TERADYNE INC TER 0.05 302247 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.05 281088 BBG000BND699 1195
AIRBNB INC ABNB 0.05 330416 BBG001Y2XS07 2057
OREILLY AUTOMOTIVE INC ORLY 0.05 332348 BBG000BGYWY6 3928
AMERICAN ELECTRIC POWER AEP 0.05 320338 BBG000BB9KF2 2624
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 317160 BBG022XF4SZ9 1524
FASTENAL CO FAST 0.04 275311 BBG000BJ8YN7 5525
HOST HOTELS & RESORTS INC HST 0.04 255160 BBG000BL8804 11473
Omega Healthcare Investors Inc OHI 0.04 217612 BBG000BGBTC2 4974
Baker Hughes Company BKR 0.04 254332 BBG00GBVBK51 4590
HEALTHPEAK PROPERTIES INC DOC 0.04 215467 BBG000BKYDP9 11547
MID-AMERICA APARTMENT COMM MAA 0.04 217684 BBG000BLMY92 1906
KIMCO REALTY CORP KIM 0.04 238973 BBG000CN3S73 10937
INVITATION HOMES INC REIT USD.01 INVH 0.04 255781 BBG00FQH6BS9 9891
Nebius Group NV NBIS 0.04 253513 BBG001NVJ6W4 1069
DIAMONDBACK ENERGY INC FANG 0.04 243197 BBG002PHSYX9 1319
AUTODESK INC ADSK 0.04 237165 BBG000BM7HL0 1009
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 253162 BBG00LBLDDR2 3225
MICROSTRATEGY INC-CL A MSTR 0.04 232662 BBG000GQJPZ0 1517
W. P. CAREY REIT INC WPC 0.04 234610 BBG000BCQM58 3740
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 215941 BBG00B6BFWH9 2141
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 231748 BBG020QYV152 1514
PACCAR INC PCAR 0.04 272920 BBG000BQVTF5 2554
XCEL ENERGY INC XEL 0.04 218129 BBG000BCTQ65 3012
PAYPAL HOLDINGS INC PYPL 0.04 233702 BBG0077VNXV6 4253
ROPER TECHNOLOGIES INC ROP 0.03 160998 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 158340 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 173327 BBG000CHSS88 987
EXELON CORP EXC 0.03 203965 BBG000J6XT05 4916
IDEXX LABS IDXX 0.03 183415 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 193401 BBG000BS1YV5 948
KEURIG DR PEPPER INC KDP 0.03 201014 BBG000TJM7F0 6582
FERROVIAL SA FER 0.03 175222 BBG01H0DF657 3462.88
WORKDAY INC-CLASS A WDAY 0.03 181680 BBG000VC0T95 986
COREWEAVE INC CRWV 0.03 188752 BBG011ZTRJ21 2134
DEXCOM INC DXCM 0.03 156208 BBG000QTF8K1 1853
ROCKET LAB CORP RKLB 0.03 200585 BBG01V7JN3F3 2789
THOMSON REUTERS CORP TRI 0.03 181484 N/A 1828
PAYCHEX INC PAYX 0.03 174260 BBG000BQSQ38 1716
MICROCHIP TECHNOLOGY INC MCHP 0.03 203632 BBG000BHCP19 2610
AIR PRODUCTS & CHEMICALS INC APD 0.02 119870 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 131805 BBG000B9ZXB4 1335
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 136890 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 140722 BBG01BFR8YV1 2176
COPART INC CPRT 0.02 116942 BBG000BM9RH1 4393
MCDONALDS CORP MCD 0.02 120058 BBG000BNSZP1 520
CONSOLIDATED EDISON INC ED 0.02 122847 BBG000BHLYS1 1174
Cash & Other Cash&Other -0.06 -358233 N/A -358233

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.