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 02/26/2026
TICKER RAA
NET ASSETS $588M
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 $28.80
30 DAY MEDIAN BID-ASK SPREAD 0.000702

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 2.61% 0.22% 3.25% 2.57% 2.61% - 15.24% 12.32%
RAA - Market Price 2.76% 0.23% 3.18% 2.59% 2.76% - 15.47% 12.36%
S&P 500 Index Total Return 1.45% 0.06% 1.76% 2.65% 1.45% - 17.87% 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 02/26/2026

NET ASSET VALUE

$28.80

CLOSING PRICE

$28.82

PREMIUM/DISCOUNT

0.08%
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 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Premium 23 54 47 39 23
Discount 0 5 13 16 5

Asset Allocation

As of 2/26/2026

Equities

49.10%
Nasdaq
19.96%
US Large Cap
13.68%
US Small Cap
4.06%
Dividend Payers
4.05%
Japan
3.18%
Emerging Ex. China
2.15%
Europe
2.02%

Fixed Income

28.05%
High Yield
7.80%
Long Term Treasuries
6.07%
Corporate Bonds
5.94%
Emerging Mkt Bonds
3.97%
TIPS
2.97%
T-Bills
1.30%

Alternatives

22.85%
Miners
5.56%
Managed Futures
5.23%
Gold
4.27%
Commodities
2.98%
Energy
2.14%
Bitcoin
1.59%
Real Estate
1.08%

Holdings

As of 02/26/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 13.68 80499000 BBG00RYR67P4 610766
SCHWAB HIGH YIELD BOND ETF SCYB 7.80 45892000 BBG01F80WX71 1730470
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.07 35726900 BBG00PZFJPC3 1093230
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.94 34928600 BBG000PWYVH7 412478
iM DBi Managed Futures Strategy ETF DBMF 5.23 30746100 N/A 984189
SPROTT PHYSICAL GOLD TRUS PHYS 4.27 25111700 BBG000Q83F79 633016
VANGUARD SMALL-CAP ETF VB 4.06 23871300 BBG000HT3Z79 85276
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.97 23341600 BBG000NXKWH0 238960
Franklin FTSE Japan ETF FLJP 3.18 18681700 BBG00J3MDY16 471880
INVESCO OPTIMUM YIELD DIVERS PDBC 2.98 17500900 N/A 1188920
SCHWAB U.S. TIPS ETF SCHP 2.97 17457000 BBG000BGN6P5 648238
ISHARES MSCI EMR MRK EX CHNA EMXC 2.15 12656800 BBG00H5VLMJ6 143975
Franklin FTSE Europe ETF FLEE 2.02 11910500 BBG00J3PR1S7 300391
NVIDIA CORP NVDA 1.72 10147100 BBG000BBJQV0 54882
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.59 9325900 N/A 312635
APPLE INC AAPL 1.54 9081050 BBG000B9XRY4 33270
ISHARES MSCI GLOBAL METALS & PICK 1.31 7721120 BBG002GKR8T5 120398
MICROSOFT CORP MSFT 1.29 7561580 BBG000BPH459 18823
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.98 5742220 BBG01922X0X9 115213
AMAZON.COM INC AMZN 0.87 5107350 BBG000BVPV84 24564
META PLATFORMS INC META 0.69 4044550 BBG000MM2P62 6156
ALPHABET INC-CL A GOOGL 0.69 4038670 BBG009S39JX6 13139
Tesla Inc. TSLA 0.69 4040450 BBG000N9MNX3 9889
BHP GROUP LTD BHP 0.65 3802430 BBG000BD5NZ4 46903
WAL-MART STORES INC WMT 0.64 3761710 BBG000BWXBC2 30234
ALPHABET INC-CL C GOOG 0.63 3728190 BBG009S3NB30 12138
Broadcom Inc. AVGO 0.59 3469530 BBG00KHY5S69 10785
ISHARES MSCI GLOBAL GOLD MIN RING 0.58 3413020 BBG002GKR6T9 34991
MICRON TECHNOLOGY INC MU 0.50 2929280 BBG000C5Z1S3 7049
COSTCO WHOLESALE CORP COST 0.47 2788530 BBG000F6H8W8 2826
FREEPORT-MCMORAN INC FCX 0.45 2675090 BBG000BJDB15 39121
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2540730 BBG000BPWXK1 19932
AGNICO EAGLE MINES LTD AEM 0.42 2461780 BBG000DLVDK3 9991
NETFLIX INC NFLX 0.39 2272850 BBG000CL9VN6 26869
ADVANCED MICRO DEVICES INC AMD 0.36 2144550 BBG000BBQCY0 10529
RIO TINTO PLC-SPON ADR RIO 0.35 2052550 BBG000FD28T3 20714
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.35 2065740 BBG000N7QR55 15196
CHEVRON CORP CVX 0.34 1983400 BBG000K4ND22 10770
CISCO SYSTEMS INC CSCO 0.33 1940080 BBG000C3J3C9 24841
LAM RESH CORP LRCX 0.32 1854230 BBG000BNFLM9 7756
APPLIED MATERIALS INC AMAT 0.30 1792940 BBG000BBPFB9 4772
Barrick Mining Corp. B 0.28 1663870 N/A 33282
AUTOMATIC DATA PROCESSING ADP 0.27 1586600 BBG000JG0547 7266
FASTENAL CO FAST 0.26 1553850 BBG000BJ8YN7 34016
LINDE PLC LIN 0.24 1430720 BBG01FND0CC1 2870
T-MOBILE US INC TMUS 0.24 1414480 BBG000NDV1D4 6668
PEPSICO INC PEP 0.24 1412870 BBG000DH7JK6 8431
INTEL CORP INTC 0.24 1389390 BBG000C0G1D1 30563
Kimberly-Clark Corp KMB 0.24 1385930 BBG000BMW2Z0 12556
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.24 1382520 BBG000PVRDL2 8586
MARATHON PETROLEUM CORP MPC 0.23 1330480 BBG001DCCGR8 6617
CANADIAN NATURAL RESOURCES CNQ 0.23 1346780 BBG000HW5GX3 31255
REALTY INCOME CORP O 0.23 1380990 BBG000DHPN63 20820
FRANCO-NEVADA CORP FNV 0.23 1376580 BBG000RD3CL8 4902
AMGEN INC AMGN 0.22 1285930 BBG000BBS2Y0 3390
CLOROX COMPANY CLX 0.22 1298080 BBG000BFS7D3 10230
WILLIAMS COMPANIES INC. WMB 0.22 1293600 BBG000BWVCP8 17301
VALE SA-SP ADR VALE 0.22 1272940 BBG000BN5LG7 73538
ILLINOIS TOOL WORKS ITW 0.22 1279550 BBG000BMBL90 4408
STANLEY BLACK & DECKER INC SWK 0.22 1293540 BBG000BTQR96 14758
KLA CORPORATION KLAC 0.22 1278900 BBG000BMTFR4 839
AMCOR PLC COMMON STOCK USD.01 AMCR 0.22 1267060 N/A 26265.8
OCCIDENTAL PETROLEUM CORP OXY 0.22 1319490 BBG000BQQ2S6 25656
EXXON MOBIL CORP XOM 0.21 1231690 BBG000GZQ728 8292
KENVUE INC KVUE 0.21 1263840 BBG01C79X561 66518
Cheniere Energy Inc LNG 0.21 1258810 BBG000C3HSR0 5414
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.21 1211840 BBG000BRK7L6 21835
SCHLUMBERGER LTD SLB 0.21 1235970 BBG000BT41Q8 24004
GLENCORE PLC -UNSP ADR GLNCY 0.21 1210530 BBG001VKX1Z1 84712
FRANKLIN RESOURCES INC BEN 0.20 1196220 BBG000BD0TF8 43610
ANALOG DEVICES INC ADI 0.20 1171130 BBG000BB6G37 3305
EQT CORP EQT 0.20 1196830 BBG000BHZ5J9 20034
TEXAS INSTRUMENTS INC TXN 0.20 1193280 BBG000BVV7G1 5612
HORMEL FOODS CORP HRL 0.20 1167680 BBG000BLF8D2 47046
AIR PRODUCTS & CHEMICALS INC APD 0.20 1173420 BBG000BC4JJ4 4248
GILEAD SCIENCES INC GILD 0.19 1101710 BBG000CKGBP2 7663
EVERSOURCE ENERGY ES 0.19 1124550 BBG000BQ87N0 14984
ABBVIE INC ABBV 0.19 1118060 BBG0025Y4RY4 4976
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.19 1115510 N/A 44196
INTUITIVE SURGICAL INC ISRG 0.19 1142000 BBG000BJPDZ1 2253
MEDTRONIC PLC MDT 0.18 1081010 BBG000BNWG87 11141
T ROWE PRICE GROUP INC TROW 0.18 1053730 BBG000BVMPN3 10924
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.18 1039480 BBG00CMNZNK7 1039480
QUALCOMM INC QCOM 0.17 978510 BBG000CGC1X8 6721
SHOPIFY INC - CLASS A SHOP 0.17 983969 BBG008HBD923 7813
APPLOVIN CORP APP 0.16 925010 BBG006HFPX77 2079
GENUINE PARTS CO GPC 0.16 942943 BBG000BKL348 8069
Cash & Other Cash&Other 0.15 908483 N/A 908483
HONEYWELL INTERNATIONAL INC HON 0.15 895961 BBG000H556T9 3738
WELLTOWER INC WELL 0.14 821710 BBG000BKY1G5 3942
BOOKING HOLDINGS INC BKNG 0.14 811800 BBG000BLBVN4 191
PROLOGIS INC PLD 0.14 843406 BBG000B9Z0J8 5912
VERTEX PHARMACEUTICALS INC VRTX 0.13 744682 BBG000C1S2X2 1551
STARBUCKS CORP SBUX 0.13 765612 BBG000CTQBF3 7806
COMCAST CORP-CLASS A CMCSA 0.12 684993 BBG000BFT2L4 22204
CONSTELLATION ENERGY CORPORATION CEG 0.12 727686 BBG014KFRNP7 2249
ADOBE SYSTEMS INC ADBE 0.12 690083 BBG000BB5006 2664
INTUIT INC INTU 0.12 734410 BBG000BH5DV1 1862
ASML HOLDING NV-NY REG SHS ASML 0.12 701160 BBG000K6MRN4 479
PALO ALTO NETWORKS INC PANW 0.11 668117 BBG0014GJCT9 4472
MONSTER BEVERAGE CORP MNST 0.11 617712 BBG008NVB1C0 7128
Crowdstrike Holdings Inc. Class A CRWD 0.11 631102 BBG00BLYKS03 1656
International Business Machines Corporation IBM 0.11 649555 BBG000BLNNH6 2684
WESTERN DIGITAL CORP WDC 0.11 660183 BBG000BWNFZ9 2339
EQUINIX INC EQIX 0.10 565968 BBG000MBDGM6 597
Marriott International, Inc Class A MAR 0.10 574935 BBG000BGD7W6 1640
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.10 564116 BBG0113JGQF0 1377
TARGET CORP TGT 0.10 595530 BBG000H8TVT2 5188
CSX CORP CSX 0.10 595608 BBG000BGJRC8 14011
CADENCE DESIGN SYS INC CDNS 0.10 600259 BBG000C13CD9 2017
MERCADOLIBRE INC MELI 0.09 534450 BBG000GQPB11 307
DIGITAL REALTY TRUST INC DLR 0.09 500185 BBG000Q5ZRM7 2836
ROSS STORES INC ROST 0.09 508546 BBG000BSBZH7 2499
SYNOPSYS INC SNPS 0.09 533351 BBG000BSFRF3 1252
OREILLY AUTOMOTIVE INC ORLY 0.09 529075 BBG000BGYWY6 5793
CINCINNATI FINANCIAL CORP CINF 0.09 557880 BBG000BFPK65 3377
REGENERON PHARMACEUTICALS REGN 0.08 457849 BBG000C734W3 594
DOORDASH INC CLASS A DASH 0.08 465097 BBG005D7QCJ3 2578
CINTAS CORP CTAS 0.08 492329 BBG000H3YXF8 2483
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 448751 BBG00LBLDDR2 4258
AMERICAN ELECTRIC POWER AEP 0.08 443724 BBG000BB9KF2 3359
PACCAR INC PCAR 0.08 457855 BBG000BQVTF5 3690
MONDELEZ INTERNATIONAL INC-A MDLZ 0.08 489710 BBG000D4LWF6 8170
Warner Bros Discovery Inc WBD 0.08 454061 BBG011386VF4 15766
SIMON PROPERTY GROUP INC SPG 0.08 463144 BBG000BJ2D31 2286
Baker Hughes Company BKR 0.07 385766 BBG00GBVBK51 5944
NXP Semiconductors NV NXPI 0.07 425445 BBG000BND699 1832
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 437760 BBG00ZXBJ153 5521
ELECTRONIC ARTS INC EA 0.07 392489 BBG000BP0KQ8 1952
AO Smith Corp AOS 0.07 393851 BBG000BC1L02 5105
PUBLIC STORAGE PSA 0.07 414284 BBG000BPPN67 1363
PPG INDUSTRIES INC PPG 0.06 352288 BBG000BRJ809 2853
AIRBNB INC ABNB 0.06 366532 BBG001Y2XS07 2676
FORTINET INC FTNT 0.06 374616 BBG000BCMBG4 4730
AUTODESK INC ADSK 0.06 324029 BBG000BM7HL0 1388
FERROVIAL SE FER 0.06 340204 BBG01H7CZ9S9 4593
DIAMONDBACK ENERGY INC FANG 0.06 347151 BBG002PHSYX9 2079
Ventas Inc. VTR 0.06 340314 BBG000FRVHB9 3937
AXON ENTERPRISE INC AXON 0.06 353222 BBG000BHJWG1 642
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 265333 BBG000BS1YV5 1244
IDEXX LABS IDXX 0.05 317141 BBG000BLRT07 480
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 290110 N/A 2904
EXTRA SPACE STORAGE INC EXR 0.05 280959 BBG000PV27K3 1903
ALNYLAM PHARMACEUTICALS INC ALNY 0.05 279898 BBG000BFGNJ5 845
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 311398 BBG00B6BFWH9 2874
XCEL ENERGY INC XEL 0.05 305584 BBG000BCTQ65 3661
PAYPAL HOLDINGS INC PYPL 0.05 271996 BBG0077VNXV6 5974
EXELON CORP EXC 0.05 304805 BBG000J6XT05 6246
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 320995 BBG000C30L48 272
Old Dominion Freight Line Inc. ODFL 0.05 282677 BBG000CHSS88 1425
VERISK ANALYTICS INC VRSK 0.04 264040 BBG000BCZL41 1303
Zscaler Inc. ZS 0.04 247860 BBG003338H34 1481
KEURIG DR PEPPER INC KDP 0.04 256440 BBG000TJM7F0 8455
VICI PROPERTIES INC REIT VICI 0.04 262272 BBG00HVVB499 8807
COPART INC CPRT 0.04 222714 BBG000BM9RH1 5995
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 242361 BBG01BFR8YV1 2888
CONSOLIDATED EDISON INC ED 0.04 238245 BBG000BHLYS1 2151
DEXCOM INC DXCM 0.04 259884 BBG000QTF8K1 3494
MCDONALDS CORP MCD 0.04 220121 BBG000BNSZP1 658
Datadog Inc. Class A DDOG 0.04 257959 BBG003NJHZT9 2215
AVALONBAY COMMUNITIES INC AVB 0.04 233391 BBG000BLPBL5 1299
MICROSTRATEGY INC-CL A MSTR 0.04 236385 BBG000GQJPZ0 1772
ROPER TECHNOLOGIES INC ROP 0.04 215516 BBG000F1ZSN5 612
MICROCHIP TECHNOLOGY INC MCHP 0.04 249575 BBG000BHCP19 3329
PAYCHEX INC PAYX 0.04 209084 BBG000BQSQ38 2213
IRON MOUNTAIN INC IRM 0.04 234337 BBG000KCZPC3 2143
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 242663 BBG000BBDV81 3735
EQUITY RESIDENTIAL EQR 0.03 194540 BBG000BG8M31 3034
CHARTER COMMUNICATIONS INC-A CHTR 0.03 147305 BBG000VPGNR2 645
WORKDAY INC-CLASS A WDAY 0.03 194198 BBG000VC0T95 1396
INSMED INC INSM 0.03 190350 BBG000BWM5P3 1269
KRAFT HEINZ CO/THE KHC 0.03 174668 BBG005CPNTQ2 7109
COSTAR GROUP INC CSGP 0.03 192780 BBG000D7JKW9 4284
Omega Healthcare Investors Inc OHI 0.02 126958 BBG000BGBTC2 2640
MID-AMERICA APARTMENT COMM MAA 0.02 127582 BBG000BLMY92 939
KIMCO REALTY CORP KIM 0.02 144322 BBG000CN3S73 6105
INVITATION HOMES INC REIT USD.01 INVH 0.02 116404 BBG00FQH6BS9 4426
W. P. CAREY REIT INC WPC 0.02 139738 BBG000BCQM58 1882
Sun Communities Inc SUI 0.02 132250 BBG000BLJWF3 974
ATLASSIAN CORP PLC-CLASS A TEAM 0.02 122481 BBG01BGWHFR5 1542
ESSEX PROPERTY TRUST INC ESS 0.02 100104 BBG000CGJMB9 381
ASTRAZENECA PLC AZNCF 0.00 611.94 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.