RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

How to Buy
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 07/22/2026
TICKER RAA
NET ASSETS $601M
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 $29.66
30 DAY MEDIAN BID-ASK SPREAD 0.000682

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/22/2026

NET ASSET VALUE

$29.66

CLOSING PRICE

$29.67

PREMIUM/DISCOUNT

0.04%
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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 8
Discount 13 16 8 14 4

Asset Allocation

As of 7/22/2026

Equities

39.88%
Nasdaq
15.46%
US Large Cap
9.95%
Dividend Payers
3.93%
Emerging Ex. China
3.68%
US Small Cap
2.91%
Europe
1.99%
Japan
1.96%

Fixed Income

26.42%
High Yield
5.95%
Corporate Bonds
5.89%
Long Term Treasuries
5.79%
Emerging Mkt Bonds
3.92%
TIPS
2.95%
T-Bills
1.92%

Alternatives

33.70%
Commodities
7.79%
Managed Futures
7.12%
Miners
6.01%
Energy
4.42%
Gold
4.10%
Bitcoin
2.23%
Real Estate
2.03%

Holdings

As of 07/22/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.95 59774400 BBG00RYR67P4 1252610
INVESCO OPTIMUM YIELD DIVERS PDBC 7.79 46780400 N/A 2626640
SCHWAB HIGH YIELD BOND ETF SCYB 5.95 35742100 BBG01F80WX71 1374220
iM DBi Managed Futures Strategy ETF DBMF 5.90 35423000 N/A 1128480
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.89 35367100 BBG000PWYVH7 434646
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.79 34778000 BBG00PZFJPC3 1147030
SPROTT PHYSICAL GOLD TRUS PHYS 4.10 24604800 BBG000Q83F79 788109
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.92 23532700 BBG000NXKWH0 247478
ISHARES MSCI EMR MRK EX CHNA EMXC 3.68 22092400 BBG00H5VLMJ6 233510
SCHWAB U.S. TIPS ETF SCHP 2.95 17689700 BBG000BGN6P5 676730
VANGUARD SMALL-CAP ETF VB 2.91 17485900 BBG000HT3Z79 59036
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.23 13407500 N/A 460108
Franklin FTSE Europe ETF FLEE 1.99 11971000 BBG00J3PR1S7 307930
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 11925000 BBG01922X0X9 238643
Franklin FTSE Japan ETF FLJP 1.96 11795400 BBG00J3MDY16 299756
NVIDIA CORP NVDA 1.27 7639890 BBG000BBJQV0 36027
BHP GROUP LTD BHP 1.26 7549250 BBG000BD5NZ4 89298
Simplify DBi CTA Managed Futures Index ETF SDMF 1.22 7339630 BBG020BR8WR7 281324
APPLE INC AAPL 1.18 7076050 BBG000B9XRY4 21713
MICRON TECHNOLOGY INC MU 0.75 4497080 BBG000C5Z1S3 4687
MICROSOFT CORP MSFT 0.73 4356980 BBG000BPH459 11162
NEWMONT GOLDCORP CORPORATION COM NEM 0.69 4149130 BBG000BPWXK1 43333
AMAZON.COM INC AMZN 0.67 4005750 BBG000BVPV84 16360
RIO TINTO PLC-SPON ADR RIO 0.66 3947180 BBG000FD28T3 42774
CHEVRON CORP CVX 0.59 3520530 BBG000K4ND22 18243
ADVANCED MICRO DEVICES INC AMD 0.59 3526070 BBG000BBQCY0 6384
FREEPORT-MCMORAN INC FCX 0.55 3313380 BBG000BJDB15 50975
ALPHABET INC-CL A GOOGL 0.50 2986100 BBG009S39JX6 8729
GLENCORE PLC -UNSP ADR GLNCY 0.49 2954340 BBG001VKX1Z1 206021
AGNICO EAGLE MINES LTD AEM 0.49 2915560 BBG000DLVDK3 19827
MARATHON PETROLEUM CORP MPC 0.48 2888810 BBG001DCCGR8 9147
Tesla Inc. TSLA 0.47 2797970 BBG000N9MNX3 7481
Suncor Energy Inc. SU 0.47 2842760 BBG000BC1LY5 43924
META PLATFORMS INC META 0.47 2832930 BBG000MM2P62 4517
Broadcom Inc. AVGO 0.47 2818140 BBG00KHY5S69 7102
ALPHABET INC-CL C GOOG 0.47 2800240 BBG009S3NB30 8190
CANADIAN NATURAL RESOURCES CNQ 0.46 2742190 BBG000HW5GX3 59860
OCCIDENTAL PETROLEUM CORP OXY 0.46 2770640 BBG000BQQ2S6 48185
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.45 2695150 BBG023CY9MM1 17450
Cheniere Energy Inc LNG 0.44 2613300 BBG000C3HSR0 9773
SCHLUMBERGER LTD SLB 0.41 2441320 BBG000BT41Q8 51213
EQT CORP EQT 0.40 2399070 BBG000BHZ5J9 44419
WILLIAMS COMPANIES INC. WMB 0.39 2348670 BBG000BWVCP8 31530
Barrick Mining Corp ABX 0.39 2321340 N/A 61886
WAL-MART STORES INC WMT 0.37 2248150 BBG000BWXBC2 20563
INTEL CORP INTC 0.34 2023150 BBG000C0G1D1 19715
NUCOR CORP NUE 0.32 1948060 BBG000BQ8KV2 8258
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.32 1900510 N/A 79820
CISCO SYSTEMS INC CSCO 0.31 1844510 BBG000C3J3C9 16438
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1844340 BBG000PVRDL2 16562
REALTY INCOME CORP O 0.31 1878650 BBG000DHPN63 28889
APPLIED MATERIALS INC AMAT 0.29 1740420 BBG000BBPFB9 3142
COSTCO WHOLESALE CORP COST 0.29 1736850 BBG000F6H8W8 1873
AUTOMATIC DATA PROCESSING ADP 0.28 1706950 BBG000JG0547 7021
FRANCO-NEVADA CORP FNV 0.27 1600900 BBG000TRN6Z1 7477
WELLTOWER INC WELL 0.27 1626820 BBG000BKY1G5 6639
LAM RESH CORP LRCX 0.27 1603470 BBG000BNFLM9 5022
VALE SA-SP ADR VALE 0.26 1584210 BBG000BN5LG7 106681
PROLOGIS INC PLD 0.25 1505310 BBG000B9Z0J8 10403
MEDTRONIC PLC MDT 0.21 1234160 BBG000BNWG87 15071
KENVUE INC KVUE 0.20 1194320 BBG01C79X561 62432
Kimberly-Clark Corp KMB 0.20 1181460 BBG000BMW2Z0 10851
HORMEL FOODS CORP HRL 0.20 1187340 BBG000BLF8D2 47098
NETFLIX INC NFLX 0.20 1229770 BBG000CL9VN6 17945
EVERSOURCE ENERGY ES 0.20 1171480 BBG000BQ87N0 15733
CLOROX COMPANY CLX 0.20 1204850 BBG000BFS7D3 12582
ILLINOIS TOOL WORKS ITW 0.20 1216800 BBG000BMBL90 4442
T ROWE PRICE GROUP INC TROW 0.20 1204650 BBG000BVMPN3 10384
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1188880 N/A 27514
EQUINIX INC EQIX 0.19 1135730 BBG000MBDGM6 1104
FRANKLIN RESOURCES INC BEN 0.19 1144370 BBG000BD0TF8 35342
PALO ALTO NETWORKS INC PANW 0.19 1166770 BBG0014GJCT9 3480
STANLEY BLACK & DECKER INC SWK 0.19 1124910 BBG000BTQR96 12604
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.19 1166600 BBG000N7QR55 9365
TEXAS INSTRUMENTS INC TXN 0.18 1080850 BBG000BVV7G1 3674
KLA CORPORATION KLAC 0.18 1104370 BBG000BMTFR4 5144
GENUINE PARTS CO GPC 0.17 1040480 BBG000BKL348 8644
ABBVIE INC ABBV 0.17 994202 BBG0025Y4RY4 3925
AO Smith Corp AOS 0.16 960402 BBG000BC1L02 16182
PPG INDUSTRIES INC PPG 0.16 969876 BBG000BRJ809 8262
LINDE PLC LIN 0.16 967490 BBG01FND0CC1 1902
J M Smucker Co COM STK NPV SJM 0.15 900249 BBG000BT1715 7626
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 910824 BBG0113JGQF0 1003
SANDISK CORP/DE SNDKV SNDK 0.15 916382 BBG01R388JG1 573
T-MOBILE US INC TMUS 0.15 887871 BBG000NDV1D4 4650
WESTERN DIGITAL CORP WDC 0.14 858942 BBG000BWNFZ9 1543
AMGEN INC AMGN 0.14 828737 BBG000BBS2Y0 2264
Crowdstrike Holdings Inc. Class A CRWD 0.14 815105 BBG00BLYKS03 4326
SIMON PROPERTY GROUP INC SPG 0.14 841765 BBG000BJ2D31 3721
QUALCOMM INC QCOM 0.13 774001 BBG000CGC1X8 4407
International Business Machines Corporation IBM 0.13 753530 BBG000BLNNH6 3662
ANALOG DEVICES INC ADI 0.13 780421 BBG000BB6G37 2018
PEPSICO INC PEP 0.13 794773 BBG000DH7JK6 5859
Ventas Inc. VTR 0.12 722825 BBG000FRVHB9 7438
PUBLIC STORAGE PSA 0.12 691351 BBG000BPPN67 2218
DIGITAL REALTY TRUST INC DLR 0.12 723988 BBG000Q5ZRM7 4058
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 713779 BBG00ZXBJ153 3383
ASML HOLDING NV-NY REG SHS ASML 0.12 706329 BBG000K6MRN4 392
GILEAD SCIENCES INC GILD 0.11 678159 BBG000CKGBP2 5203
SHOPIFY INC - CLASS A SHOP 0.11 646810 BBG004DW5NB8 5462
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 590619 BBG000BBTJZ1 2801
BOOKING HOLDINGS INC BKNG 0.10 583203 BBG000BLBVN4 3279
INTUITIVE SURGICAL INC ISRG 0.09 562820 BBG000BJPDZ1 1652
IRON MOUNTAIN INC IRM 0.09 565649 BBG000KCZPC3 4543
VERTEX PHARMACEUTICALS INC VRTX 0.09 552434 BBG000C1S2X2 1169
APPLOVIN CORP APP 0.09 510650 BBG006HFPX77 1238
ARM HOLDINGS PLC ARM 0.08 479796 BBG01J1GXZF0 1693
CONSTELLATION ENERGY CORPORATION CEG 0.08 464306 BBG014KFRNP7 1689
Marriott International, Inc Class A MAR 0.08 457443 BBG000BGD7W6 1237
EXTRA SPACE STORAGE INC EXR 0.08 466191 BBG000PV27K3 3214
STARBUCKS CORP SBUX 0.08 497960 BBG000CTQBF3 4789
FORTINET INC FTNT 0.08 503757 BBG000BCMBG4 3249
VICI PROPERTIES INC REIT VICI 0.08 470785 BBG00HVVB499 17712
CADENCE DESIGN SYS INC CDNS 0.07 420251 BBG000C13CD9 1247
FASTENAL CO FAST 0.07 435984 BBG000BJ8YN7 9618
COMCAST CORP-CLASS A CMCSA 0.07 400734 BBG000BFT2L4 17038
EQUITY RESIDENTIAL EQR 0.07 424217 BBG000BG8M31 6212
MONSTER BEVERAGE CORP MNST 0.07 437308 BBG008NVB1C0 4571
MERCADOLIBRE INC MELI 0.07 415618 BBG000GQPB11 231
CSX CORP CSX 0.07 447123 BBG000BGJRC8 8955
AVALONBAY COMMUNITIES INC AVB 0.07 449037 BBG000BLPBL5 2360
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 362360 BBG000D4LWF6 5954
ADOBE SYSTEMS INC ADBE 0.06 388244 BBG000BB5006 1778
NXP Semiconductors NV NXPI 0.06 331772 BBG000BND699 1190
ROSS STORES INC ROST 0.06 340878 BBG000BSBZH7 1431
INTUIT INC INTU 0.06 346769 BBG000BH5DV1 1219
SYNOPSYS INC SNPS 0.06 342870 BBG000BSFRF3 908
CINTAS CORP CTAS 0.06 383188 BBG000H3YXF8 1903
OREILLY AUTOMOTIVE INC ORLY 0.06 342832 BBG000BGYWY6 3962
Datadog Inc. Class A DDOG 0.06 349731 BBG003NJHZT9 1423
AMERICAN ELECTRIC POWER AEP 0.06 345184 BBG000BB9KF2 2594
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 338301 BBG022XF4SZ9 1452
PACCAR INC PCAR 0.05 323448 BBG000BQVTF5 2467
Warner Bros Discovery Inc WBD 0.05 303350 BBG011386VF4 11735
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 313253 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 300104 BBG000CGJMB9 1024
DOORDASH INC CLASS A DASH 0.05 326312 BBG005D7QCJ3 1836
REGENERON PHARMACEUTICALS REGN 0.05 305403 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 310252 BBG00FQH6BS9 10517
LUMENTUM HOLDINGS INC LITE 0.05 275460 BBG0073F9RT7 332
XCEL ENERGY INC XEL 0.04 232310 BBG000BCTQ65 2897
PAYPAL HOLDINGS INC PYPL 0.04 238749 BBG0077VNXV6 4301
MICROCHIP TECHNOLOGY INC MCHP 0.04 215696 BBG000BHCP19 2537
Sun Communities Inc SUI 0.04 241713 BBG000BLJWF3 2020
HOST HOTELS & RESORTS INC HST 0.04 263448 BBG000BL8804 10753
ASTERA LABS INC ALAB 0.04 212104 BBG00TDKHW99 641
Baker Hughes Company BKR 0.04 260134 BBG00GBVBK51 4596
Old Dominion Freight Line Inc. ODFL 0.04 220927 BBG000CHSS88 949
TERADYNE INC TER 0.04 233499 BBG000BV4DR6 632
EXELON CORP EXC 0.04 230278 BBG000J6XT05 4931
MID-AMERICA APARTMENT COMM MAA 0.04 225774 BBG000BLMY92 1716
KIMCO REALTY CORP KIM 0.04 243128 BBG000CN3S73 9301
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.04 217332 BBG000B9ZXB4 2161
FERROVIAL SA FER 0.04 217872 BBG01H0DF657 3397.88
AIRBNB INC ABNB 0.04 270296 BBG001Y2XS07 1930
MCDONALDS CORP MCD 0.04 232205 BBG000BNSZP1 881
DIAMONDBACK ENERGY INC FANG 0.04 266768 BBG002PHSYX9 1314
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 248847 BBG00LBLDDR2 2977
W. P. CAREY REIT INC WPC 0.04 252389 BBG000BCQM58 3346
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 229336 BBG00B6BFWH9 2166
ELECTRONIC ARTS INC EA 0.04 236740 BBG000BP0KQ8 1133
PAYCHEX INC PAYX 0.03 175191 BBG000BQSQ38 1582
ROPER TECHNOLOGIES INC ROP 0.03 156233 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 178411 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 192753 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 197835 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 199944 BBG000BS1YV5 856
KEURIG DR PEPPER INC KDP 0.03 194095 BBG000TJM7F0 6427
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 165801 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 182818 BBG001NVJ6W4 838
AUTODESK INC ADSK 0.03 202686 BBG000BM7HL0 996
CONSOLIDATED EDISON INC ED 0.03 197166 BBG000BHLYS1 1759
ROCKET LAB CORP RKLB 0.03 164680 BBG01V7JN3F3 2361
THOMSON REUTERS CORP TRI 0.03 169158 N/A 1937
KRAFT HEINZ CO/THE KHC 0.02 146233 BBG005CPNTQ2 5633
WORKDAY INC-CLASS A WDAY 0.02 114676 BBG000VC0T95 866
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 133075 BBG01BFR8YV1 2167
COPART INC CPRT 0.02 122510 BBG000BM9RH1 4509
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 141234 BBG00CMNZNK7 141234
DEXCOM INC DXCM 0.02 121002 BBG000QTF8K1 1694
MICROSTRATEGY INC-CL A MSTR 0.02 137814 BBG000GQJPZ0 1378
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 86.36 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 142.26 BBG003338H34 1
INSMED INC INSM 0.00 106.64 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 207.78 BBG020QYV152 1
Cash & Other Cash&Other -0.03 -158542 N/A -158542

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.