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 11/02/2026
TICKER RAA
NET ASSETS $602M
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 $29.64
30 DAY MEDIAN BID-ASK SPREAD 0.000664

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 12.63% NA NA 14.06%
RAA - Market Price 12.67% NA NA 14.11%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.49% -1.49% 1.87% 1.87% 9.81% 9.81% 14.06% 14.06%
RAA - Market Price -1.49% -1.49% 1.86% 1.86% 9.83% 9.83% 14.11% 14.11%
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 11/02/2026

NET ASSET VALUE

$29.64

CLOSING PRICE

$29.64

PREMIUM/DISCOUNT

0.01%
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 5
Discount 16 8 14 21 14

Asset Allocation

As of 11/2/2026

Equities

55.96%
Nasdaq
26.83%
US Large Cap
20.05%
Dividend Payers
3.05%
US Small Cap
2.03%
Emerging Ex. China
2.00%
Europe
1.00%
Japan
1.00%

Fixed Income

20.30%
Corporate Bonds
5.02%
High Yield
5.01%
Emerging Mkt Bonds
3.02%
TIPS
3.00%
T-Bills
2.23%
Long Term Treasuries
2.02%

Alternatives

23.67%
Managed Futures
7.91%
Commodities
5.80%
Energy
3.89%
Miners
2.02%
Bitcoin
2.01%
Gold
1.03%
Real Estate
1.01%

Holdings

As of 11/02/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 20.05 120636000 BBG00RYR67P4 2514310
iM DBi Managed Futures Strategy ETF DBMF 6.13 36896500 N/A 1153380
INVESCO OPTIMUM YIELD DIVERS PDBC 5.80 34894100 N/A 1802380
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.02 30195500 BBG000PWYVH7 381064
SCHWAB HIGH YIELD BOND ETF SCYB 5.01 30150700 BBG01F80WX71 1202180
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.02 18163400 BBG000NXKWH0 197902
SCHWAB U.S. TIPS ETF SCHP 3.01 18120800 BBG000BGN6P5 707290
NVIDIA CORP NVDA 2.19 13164600 BBG000BBJQV0 65152
APPLE INC AAPL 2.13 12787100 BBG000B9XRY4 37796
Vanguard Morningstar Small-Cap ETF VB 2.03 12242500 BBG000HT3Z79 41955
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.02 12132100 BBG00PZFJPC3 408212
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.02 12132800 BBG01922X0X9 243288
ISHARES MSCI EMR MRK EX CHNA EMXC 2.02 12183600 BBG00H5VLMJ6 135826
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.01 12065800 N/A 356450
Simplify DBi CTA Managed Futures Index ETF SDMF 1.78 10714000 BBG020BR8WR7 402100
MICROSOFT CORP MSFT 1.64 9883260 BBG000BPH459 19489
MICRON TECHNOLOGY INC MU 1.19 7135530 BBG000C5Z1S3 8560
AMAZON.COM INC AMZN 1.15 6937570 BBG000BVPV84 28244
SPROTT PHYSICAL GOLD TRUS PHYS 1.03 6173530 BBG000Q83F79 206680
ADVANCED MICRO DEVICES INC AMD 1.02 6138010 BBG000BBQCY0 13148
Franklin FTSE Japan ETF FLJP 1.01 6101170 BBG00J3MDY16 154031
Franklin FTSE Europe ETF FLEE 1.01 6104740 BBG00J3PR1S7 159062
Tesla Inc. TSLA 0.92 5535970 BBG000N9MNX3 13709
META PLATFORMS INC META 0.78 4708220 BBG000MM2P62 7760
SPACE EXPLORATION TECH CORP A SPCX 0.73 4368070 BBG000NQF3Z5 32031
WAL-MART STORES INC WMT 0.72 4312860 BBG000BWXBC2 33776
ALPHABET INC-CL A GOOGL 0.72 4310400 BBG009S39JX6 15450
Broadcom Inc. AVGO 0.70 4232810 BBG00KHY5S69 13136
ALPHABET INC-CL C GOOG 0.67 4017680 BBG009S3NB30 14450
INTEL CORP INTC 0.54 3227770 BBG000C0G1D1 53823
COSTCO WHOLESALE CORP COST 0.53 3215300 BBG000F6H8W8 3090
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.52 3101510 BBG000N7QR55 17391
CHEVRON CORP CVX 0.49 2930940 BBG000K4ND22 12868
CISCO SYSTEMS INC CSCO 0.49 2948620 BBG000C3J3C9 29019
BHP GROUP LTD BHP 0.43 2578250 BBG000BD5NZ4 32200
EQT CORP EQT 0.40 2398040 BBG000BHZ5J9 43728
SCHLUMBERGER LTD SLB 0.40 2384550 BBG000BT41Q8 45585
WILLIAMS COMPANIES INC. WMB 0.39 2336600 BBG000BWVCP8 32822
MARATHON PETROLEUM CORP MPC 0.39 2366280 BBG001DCCGR8 5498
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.39 2329060 BBG023CY9MM1 12963
CANADIAN NATURAL RESOURCES CNQ 0.39 2321320 BBG000HW5GX3 43276
Suncor Energy Inc. SU 0.38 2313730 BBG000BC1LY5 30678
OCCIDENTAL PETROLEUM CORP OXY 0.38 2304020 BBG000BQQ2S6 37945
APPLIED MATERIALS INC AMAT 0.38 2290630 BBG000BBPFB9 6116
Cheniere Energy Inc LNG 0.38 2299500 BBG000C3HSR0 7378
LAM RESH CORP LRCX 0.36 2166830 BBG000BNFLM9 9522
PALO ALTO NETWORKS INC PANW 0.35 2121580 BBG0014GJCT9 6032
TEXAS INSTRUMENTS INC TXN 0.34 2028970 BBG000BVV7G1 6718
Crowdstrike Holdings Inc. Class A CRWD 0.30 1830020 BBG00BLYKS03 7568
NETFLIX INC NFLX 0.30 1825630 BBG000CL9VN6 29285
PEPSICO INC PEP 0.30 1782070 BBG000DH7JK6 12691
AMGEN INC AMGN 0.29 1737520 BBG000BBS2Y0 3733
AUTOMATIC DATA PROCESSING ADP 0.28 1706930 BBG000JG0547 5713
LINDE PLC LIN 0.27 1644910 BBG01FND0CC1 3165
Kimberly-Clark Corp KMB 0.27 1632750 BBG000BMW2Z0 15083.2
KLA CORPORATION KLAC 0.25 1527270 BBG000BMTFR4 9975
ANALOG DEVICES INC ADI 0.25 1530020 BBG000BB6G37 3706
NEWMONT GOLDCORP CORPORATION COM NEM 0.25 1506860 BBG000BPWXK1 13813
GILEAD SCIENCES INC GILD 0.24 1436220 BBG000CKGBP2 8432
SHOPIFY INC - CLASS A SHOP 0.24 1471120 BBG004DW5NB8 9417
QUALCOMM INC QCOM 0.23 1384970 BBG000CGC1X8 8545
SANDISK CORP/DE SNDKV SNDK 0.22 1335250 BBG01R388JG1 1242
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.20 1187010 BBG00ZXBJ153 6925
FREEPORT-MCMORAN INC FCX 0.19 1165130 BBG000BJDB15 18503
AGNICO EAGLE MINES LTD AEM 0.19 1139360 BBG000DLVDK3 6686
INTUITIVE SURGICAL INC ISRG 0.19 1152030 BBG000BJPDZ1 2637
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.18 1084210 BBG0113JGQF0 1826
RIO TINTO PLC-SPON ADR RIO 0.18 1104860 BBG000FD28T3 13355
T-MOBILE US INC TMUS 0.18 1107600 BBG000NDV1D4 6916
ASML HOLDING NV-NY REG SHS ASML 0.18 1069820 BBG000K6MRN4 701
REALTY INCOME CORP O 0.17 1035690 BBG000DHPN63 17987
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.16 942859 BBG000B9ZXB4 8559
STANLEY BLACK & DECKER INC SWK 0.16 939902 BBG000BTQR96 8808
ILLINOIS TOOL WORKS ITW 0.16 937732 BBG000BMBL90 3233
VERTEX PHARMACEUTICALS INC VRTX 0.16 960822 BBG000C1S2X2 1737
AMCOR PLC COMMON STOCK USD.01 AMCR 0.16 944910 N/A 19276
AO Smith Corp AOS 0.16 936553 BBG000BC1L02 14316
WESTERN DIGITAL CORP WDC 0.16 964304 BBG000BWNFZ9 2848
CLOROX COMPANY CLX 0.15 916171 BBG000BFS7D3 10191
T ROWE PRICE GROUP INC TROW 0.15 925764 BBG000BVMPN3 8746
GENUINE PARTS CO GPC 0.15 875011 BBG000BKL348 7022
HORMEL FOODS CORP HRL 0.15 911659 BBG000BLF8D2 42462
MEDTRONIC PLC MDT 0.15 929950 BBG000BNWG87 9366
FRANKLIN RESOURCES INC BEN 0.15 925819 BBG000BD0TF8 28959
WELLTOWER INC WELL 0.14 855620 BBG000BKY1G5 3580
BOOKING HOLDINGS INC BKNG 0.14 817950 BBG000BLBVN4 5320
STARBUCKS CORP SBUX 0.14 849816 BBG000CTQBF3 8140
Barrick Mining Corp. B 0.14 816849 N/A 21513
GLENCORE PLC -UNSP ADR GLNCY 0.14 841125 BBG001VKX1Z1 61396
Marriott International, Inc Class A MAR 0.13 756001 BBG000BGD7W6 1816
EVERSOURCE ENERGY ES 0.13 799686 BBG000BQ87N0 11498
International Business Machines Corporation IBM 0.13 775458 BBG000BLNNH6 3071
PPG INDUSTRIES INC PPG 0.13 761579 BBG000BRJ809 6098
ADOBE SYSTEMS INC ADBE 0.12 730772 BBG000BB5006 2906
NUCOR CORP NUE 0.12 746323 BBG000BQ8KV2 2688
ARM HOLDINGS PLC ARM 0.12 707854 BBG01J1GXZF0 3597
CONSTELLATION ENERGY CORPORATION CEG 0.11 655730 BBG014KFRNP7 2549
REGENERON PHARMACEUTICALS REGN 0.11 639238 BBG000C734W3 665
MONSTER BEVERAGE CORP MNST 0.11 677562 BBG008NVB1C0 14110
INTUIT INC INTU 0.11 686947 BBG000BH5DV1 1951
CSX CORP CSX 0.11 661252 BBG000BGJRC8 12810
SYNOPSYS INC SNPS 0.11 667893 BBG000BSFRF3 1433
FORTINET INC FTNT 0.11 677874 BBG000BCMBG4 5371
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.11 683514 N/A 26815
CADENCE DESIGN SYS INC CDNS 0.11 672200 BBG000C13CD9 2040
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.11 691427 BBG000PVRDL2 5803
MERCADOLIBRE INC MELI 0.10 623766 BBG000GQPB11 372
DOORDASH INC CLASS A DASH 0.10 576102 BBG005D7QCJ3 3031
MODERNA INC MRNA 0.10 605295 BBG003PHHZT1 2741
PROLOGIS INC PLD 0.10 610133 BBG000B9Z0J8 4706
CINTAS CORP CTAS 0.10 613397 BBG000H3YXF8 2729
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 617164 BBG000BBTJZ1 2253
ROSS STORES INC ROST 0.09 546498 BBG000BSBZH7 2370
APPLOVIN CORP APP 0.09 544205 BBG006HFPX77 2378
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.09 559183 BBG00CMNZNK7 559183
Datadog Inc. Class A DDOG 0.09 563157 BBG003NJHZT9 2606
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 557127 BBG000D4LWF6 8393
EQUINIX INC EQIX 0.09 535599 BBG000MBDGM6 539
COMCAST CORP-CLASS A CMCSA 0.09 566602 BBG000BFT2L4 23737
FRANCO-NEVADA CORP FNV 0.09 560565 BBG000TRN6Z1 2445
NXP Semiconductors NV NXPI 0.08 486698 BBG000BND699 1892
AIRBNB INC ABNB 0.08 503063 BBG001Y2XS07 2940
OREILLY AUTOMOTIVE INC ORLY 0.08 492592 BBG000BGYWY6 5431
AMERICAN ELECTRIC POWER AEP 0.08 481048 BBG000BB9KF2 3691
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.08 491399 BBG022XF4SZ9 2196
LUMENTUM HOLDINGS INC LITE 0.08 509194 BBG0073F9RT7 744
ROPER TECHNOLOGIES INC ROP 0.08 495844 BBG000F1ZSN5 1034
VALE SA-SP ADR VALE 0.07 424365 BBG000BN5LG7 37422
DIGITAL REALTY TRUST INC DLR 0.07 419289 BBG000Q5ZRM7 2383
DIAMONDBACK ENERGY INC FANG 0.07 400479 BBG002PHSYX9 2005
SIMON PROPERTY GROUP INC SPG 0.07 431708 BBG000BJ2D31 1947
PUBLIC STORAGE PSA 0.07 434545 BBG000BPPN67 1304
FASTENAL CO FAST 0.07 425918 BBG000BJ8YN7 8105
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 444090 BBG000C30L48 357
KEURIG DR PEPPER INC KDP 0.06 373870 BBG000TJM7F0 10154
PACCAR INC PCAR 0.06 365857 BBG000BQVTF5 3561
AUTODESK INC ADSK 0.06 379644 BBG000BM7HL0 1472
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 375810 BBG00LBLDDR2 4601
MICROSTRATEGY INC-CL A MSTR 0.06 368089 BBG000GQJPZ0 2815
Ventas Inc. VTR 0.06 369601 BBG000FRVHB9 4262
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 367313 BBG00B6BFWH9 3178
Vivmark Residential VMRK 0.06 363303 BBG000BG8M31 5839
HONEYWELL AEROSPACE INC HONAV HONAV 0.06 373552 BBG020QYV152 2365
XCEL ENERGY INC XEL 0.06 359444 BBG000BCTQ65 4531
PAYPAL HOLDINGS INC PYPL 0.06 374135 BBG0077VNXV6 6365
ASTERA LABS INC ALAB 0.06 332103 BBG00TDKHW99 1446
Baker Hughes Company BKR 0.06 351138 BBG00GBVBK51 6619
EXELON CORP EXC 0.06 363146 BBG000J6XT05 7818
IDEXX LABS IDXX 0.06 362014 BBG000BLRT07 539
FERROVIAL SA FER 0.05 309346 BBG01H0DF657 5412.88
Nebius Group NV NBIS 0.05 283346 BBG001NVJ6W4 2004
THOMSON REUTERS CORP TRI 0.05 311712 N/A 2550
PAYCHEX INC PAYX 0.05 310553 BBG000BQSQ38 2689
Cash & Other Cash&Other 0.05 312404 N/A 312404
MICROCHIP TECHNOLOGY INC MCHP 0.05 301700 BBG000BHCP19 3964
IRON MOUNTAIN INC IRM 0.05 301887 BBG000KCZPC3 2621
TERADYNE INC TER 0.05 295202 BBG000BV4DR6 1131
EXTRA SPACE STORAGE INC EXR 0.04 248788 BBG000PV27K3 1595
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 252174 BBG01BFR8YV1 3170
WORKDAY INC-CLASS A WDAY 0.04 242907 BBG000VC0T95 1226
VICI PROPERTIES INC REIT VICI 0.04 247925 BBG00HVVB499 9917
DEXCOM INC DXCM 0.04 248516 BBG000QTF8K1 2932
ROCKET LAB CORP RKLB 0.04 233690 BBG01V7JN3F3 4488
AXON ENTERPRISE INC AXON 0.04 241644 BBG000BHJWG1 568
Old Dominion Freight Line Inc. ODFL 0.04 246370 BBG000CHSS88 1398
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 243583 BBG000BS1YV5 1268
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 168586 BBG000BFGNJ5 1067
ABBVIE INC ABBV 0.03 177637 BBG0025Y4RY4 615
COREWEAVE INC CRWV 0.03 169256 BBG011ZTRJ21 3375
COPART INC CPRT 0.03 191452 BBG000BM9RH1 5996
CONSOLIDATED EDISON INC ED 0.03 183881 BBG000BHLYS1 1552
MCDONALDS CORP MCD 0.03 185948 BBG000BNSZP1 700
AIR PRODUCTS & CHEMICALS INC APD 0.03 182665 BBG000BC4JJ4 578
MID-AMERICA APARTMENT COMM MAA 0.02 121298 BBG000BLMY92 1025
KIMCO REALTY CORP KIM 0.02 123921 BBG000CN3S73 4943
INVITATION HOMES INC REIT USD.01 INVH 0.02 121810 BBG00FQH6BS9 4535
W. P. CAREY REIT INC WPC 0.02 121536 BBG000BCQM58 1877
REGENCY CENTERS CORP REG 0.02 122062 BBG000BL46Q4 1615
HOST HOTELS & RESORTS INC HST 0.02 122583 BBG000BL8804 4794
Omega Healthcare Investors Inc OHI 0.02 120649 BBG000BGBTC2 2567
ESSEX PROPERTY TRUST INC ESS 0.02 121095 BBG000CGJMB9 456

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.