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 03/23/2026
TICKER RAA
NET ASSETS $531M
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 $27.45
30 DAY MEDIAN BID-ASK SPREAD 0.000711

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 1.99% 0.22% 5.06% 2.57% 4.84% - 17.62% 12.32%
RAA - Market Price 1.98% 0.23% 5.04% 2.59% 4.80% - 17.60% 12.36%
S&P 500 Index Total Return -0.76% 0.06% 0.74% 2.65% 0.68% - 16.88% 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 03/23/2026

NET ASSET VALUE

$27.45

CLOSING PRICE

$27.46

PREMIUM/DISCOUNT

0.03%
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 34
Discount 0 5 13 16 6

Asset Allocation

As of 3/23/2026

Equities

44.78%
Nasdaq
18.29%
US Large Cap
15.10%
Dividend Payers
4.65%
US Small Cap
1.99%
Emerging Ex. China
1.92%
Japan
1.89%
Europe
0.94%

Fixed Income

31.96%
Corporate Bonds
9.17%
High Yield
8.22%
Emerging Mkt Bonds
5.04%
Long Term Treasuries
4.99%
TIPS
3.09%
T-Bills
1.45%

Alternatives

23.26%
Managed Futures
6.90%
Energy
4.33%
Miners
4.21%
Gold
3.48%
Commodities
2.34%
Real Estate
2.00%
Bitcoin
0.00%

Holdings

As of 03/23/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.10 80221100 BBG00RYR67P4 637637
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.17 48698500 BBG000PWYVH7 589927
SCHWAB HIGH YIELD BOND ETF SCYB 8.22 43656000 BBG01F80WX71 1680370
iM DBi Managed Futures Strategy ETF DBMF 6.90 36665000 N/A 1240780
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.04 26774600 BBG000NXKWH0 284655
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 4.99 26493000 BBG00PZFJPC3 846693
SPROTT PHYSICAL GOLD TRUS PHYS 3.48 18491000 BBG000Q83F79 556790
SCHWAB U.S. TIPS ETF SCHP 3.09 16420000 BBG000BGN6P5 618221
INVESCO OPTIMUM YIELD DIVERS PDBC 2.34 12414500 N/A 748311
VANGUARD SMALL-CAP ETF VB 1.99 10581400 BBG000HT3Z79 40353
ISHARES MSCI EMR MRK EX CHNA EMXC 1.92 10180800 BBG00H5VLMJ6 127022
Franklin FTSE Japan ETF FLJP 1.89 10042800 BBG00J3MDY16 280997
NVIDIA CORP NVDA 1.61 8538210 BBG000BBJQV0 48612
APPLE INC AAPL 1.39 7377460 BBG000B9XRY4 29335
MICROSOFT CORP MSFT 1.06 5650400 BBG000BPH459 14753
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.05 5564690 BBG01922X0X9 111383
ISHARES MSCI GLOBAL METALS & PICK 1.05 5578380 BBG002GKR8T5 103380
Franklin FTSE Europe ETF FLEE 0.94 5006670 BBG00J3PR1S7 140479
AMAZON.COM INC AMZN 0.82 4369230 BBG000BVPV84 20792
Tesla Inc. TSLA 0.71 3776510 BBG000N9MNX3 9916
META PLATFORMS INC META 0.66 3528920 BBG000MM2P62 5842
ALPHABET INC-CL A GOOGL 0.64 3419620 BBG009S39JX6 11321
CHEVRON CORP CVX 0.64 3420650 BBG000K4ND22 16669
ALPHABET INC-CL C GOOG 0.59 3145990 BBG009S3NB30 10521
WAL-MART STORES INC WMT 0.58 3087410 BBG000BWXBC2 25575
Broadcom Inc. AVGO 0.56 2989020 BBG00KHY5S69 9268
Cheniere Energy Inc LNG 0.51 2722370 BBG000C3HSR0 9479
MARATHON PETROLEUM CORP MPC 0.50 2651070 BBG001DCCGR8 11401
BHP GROUP LTD BHP 0.49 2612580 BBG000BD5NZ4 38302
OCCIDENTAL PETROLEUM CORP OXY 0.48 2553160 BBG000BQQ2S6 42334
CANADIAN NATURAL RESOURCES CNQ 0.47 2473720 BBG000HW5GX3 51131
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.47 2492400 BBG000BRK7L6 39443
MICRON TECHNOLOGY INC MU 0.46 2468560 BBG000C5Z1S3 6105
EXXON MOBIL CORP XOM 0.45 2371350 BBG000GZQ728 14717
EQT CORP EQT 0.44 2357740 BBG000BHZ5J9 36145
COSTCO WHOLESALE CORP COST 0.43 2271400 BBG000F6H8W8 2352
ISHARES MSCI GLOBAL GOLD MIN RING 0.42 2239200 BBG002GKR6T9 31001
WILLIAMS COMPANIES INC. WMB 0.41 2185920 BBG000BWVCP8 29700
SCHLUMBERGER LTD SLB 0.40 2144250 BBG000BT41Q8 43538
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.37 1979620 BBG000N7QR55 12308
NETFLIX INC NFLX 0.36 1891040 BBG000CL9VN6 20251
FREEPORT-MCMORAN INC FCX 0.34 1779230 BBG000BJDB15 32385
AUTOMATIC DATA PROCESSING ADP 0.34 1814410 BBG000JG0547 8652
ADVANCED MICRO DEVICES INC AMD 0.34 1811760 BBG000BBQCY0 8939
REALTY INCOME CORP O 0.33 1750290 BBG000DHPN63 28764
CISCO SYSTEMS INC CSCO 0.31 1665550 BBG000C3J3C9 21131
NEWMONT GOLDCORP CORPORATION COM NEM 0.31 1670050 BBG000BPWXK1 17017
LAM RESH CORP LRCX 0.30 1591170 BBG000BNFLM9 6820
APPLIED MATERIALS INC AMAT 0.29 1560400 BBG000BBPFB9 4313
AGNICO EAGLE MINES LTD AEM 0.29 1553850 BBG000DLVDK3 8443
RIO TINTO PLC-SPON ADR RIO 0.28 1503830 BBG000FD28T3 17519
TARGET CORP TGT 0.27 1413870 BBG000H8TVT2 12302
WELLTOWER INC WELL 0.26 1390160 BBG000BKY1G5 7129
FASTENAL CO FAST 0.26 1373100 BBG000BJ8YN7 30891
T ROWE PRICE GROUP INC TROW 0.25 1306060 BBG000BVMPN3 14845
KENVUE INC KVUE 0.24 1284500 BBG01C79X561 72983
FRANKLIN RESOURCES INC BEN 0.24 1263620 BBG000BD0TF8 52871
ILLINOIS TOOL WORKS ITW 0.24 1259890 BBG000BMBL90 4795
PROLOGIS INC PLD 0.24 1262050 BBG000B9Z0J8 9685
AIR PRODUCTS & CHEMICALS INC APD 0.24 1266230 BBG000BC4JJ4 4544
EVERSOURCE ENERGY ES 0.23 1242320 BBG000BQ87N0 18364
ABBVIE INC ABBV 0.23 1237980 BBG0025Y4RY4 6041
T-MOBILE US INC TMUS 0.23 1234820 BBG000NDV1D4 5915
Kimberly-Clark Corp KMB 0.23 1244820 BBG000BMW2Z0 12517
HORMEL FOODS CORP HRL 0.23 1209450 BBG000BLF8D2 53945
LINDE PLC LIN 0.22 1185560 BBG01FND0CC1 2480
PEPSICO INC PEP 0.21 1094330 BBG000DH7JK6 7253
INTEL CORP INTC 0.21 1129820 BBG000C0G1D1 25672
GENUINE PARTS CO GPC 0.21 1112060 BBG000BKL348 11004
STANLEY BLACK & DECKER INC SWK 0.21 1134570 BBG000BTQR96 16229
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1127810 N/A 28653.8
KLA CORPORATION KLAC 0.20 1071600 BBG000BMTFR4 709
Barrick Mining Corp. B 0.20 1077410 N/A 28586
CLOROX COMPANY CLX 0.19 1018990 BBG000BFS7D3 9624
AMGEN INC AMGN 0.19 989499 BBG000BBS2Y0 2829
International Business Machines Corporation IBM 0.19 1008910 BBG000BLNNH6 4061
GLENCORE PLC -UNSP ADR GLNCY 0.19 1031950 BBG001VKX1Z1 74081
EQUINIX INC EQIX 0.19 997903 BBG000MBDGM6 1032
MEDTRONIC PLC MDT 0.19 1031400 BBG000BNWG87 11832
TEXAS INSTRUMENTS INC TXN 0.18 939755 BBG000BVV7G1 4982
FRANCO-NEVADA CORP FNV 0.18 943923 BBG000RD3CL8 4161
GILEAD SCIENCES INC GILD 0.17 886392 BBG000CKGBP2 6454
INTUITIVE SURGICAL INC ISRG 0.17 914969 BBG000BJPDZ1 1914
SHOPIFY INC - CLASS A SHOP 0.16 839586 BBG008HBD923 6933
VALE SA-SP ADR VALE 0.16 861000 BBG000BN5LG7 58215
ANALOG DEVICES INC ADI 0.16 826367 BBG000BB6G37 2647
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.16 861458 BBG000PVRDL2 7186
APPLOVIN CORP APP 0.15 770577 BBG006HFPX77 1679
HONEYWELL INTERNATIONAL INC HON 0.14 757119 BBG000H556T9 3395
PALO ALTO NETWORKS INC PANW 0.14 723625 BBG0014GJCT9 4411
BOOKING HOLDINGS INC BKNG 0.14 765041 BBG000BLBVN4 174
DIGITAL REALTY TRUST INC DLR 0.14 719292 BBG000Q5ZRM7 4076
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 734504 N/A 35812
QUALCOMM INC QCOM 0.14 754570 BBG000CGC1X8 5879
SIMON PROPERTY GROUP INC SPG 0.13 689118 BBG000BJ2D31 3797
INTUIT INC INTU 0.13 668163 BBG000BH5DV1 1462
ASML HOLDING NV-NY REG SHS ASML 0.12 646461 BBG000K6MRN4 472
PUBLIC STORAGE PSA 0.11 584695 BBG000BPPN67 2155
VERTEX PHARMACEUTICALS INC VRTX 0.11 590215 BBG000C1S2X2 1308
STARBUCKS CORP SBUX 0.11 573770 BBG000CTQBF3 6115
Crowdstrike Holdings Inc. Class A CRWD 0.11 580701 BBG00BLYKS03 1405
COMCAST CORP-CLASS A CMCSA 0.11 561837 BBG000BFT2L4 19367
Ventas Inc. VTR 0.10 523349 BBG000FRVHB9 6394
WESTERN DIGITAL CORP WDC 0.10 541529 BBG000BWNFZ9 1837
CONSTELLATION ENERGY CORPORATION CEG 0.10 556919 BBG014KFRNP7 1922
ADOBE SYSTEMS INC ADBE 0.10 550008 BBG000BB5006 2221
CINCINNATI FINANCIAL CORP CINF 0.10 535876 BBG000BFPK65 3365
Marriott International, Inc Class A MAR 0.09 488474 BBG000BGD7W6 1496
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.09 469875 BBG0113JGQF0 1163
REGENERON PHARMACEUTICALS REGN 0.08 399936 BBG000C734W3 543
VICI PROPERTIES INC REIT VICI 0.08 447434 BBG00HVVB499 16541
MERCADOLIBRE INC MELI 0.08 446509 BBG000GQPB11 268
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 420506 BBG00ZXBJ153 4664
SYNOPSYS INC SNPS 0.08 441129 BBG000BSFRF3 1020
CADENCE DESIGN SYS INC CDNS 0.08 420059 BBG000C13CD9 1436
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 390969 BBG000D4LWF6 6876
Warner Bros Discovery Inc WBD 0.07 367708 BBG011386VF4 13420
EXTRA SPACE STORAGE INC EXR 0.07 387053 BBG000PV27K3 2936
DOORDASH INC CLASS A DASH 0.07 349716 BBG005D7QCJ3 2186
ROSS STORES INC ROST 0.07 377809 BBG000BSBZH7 1773
CINTAS CORP CTAS 0.07 385071 BBG000H3YXF8 2125
CSX CORP CSX 0.07 393333 BBG000BGJRC8 10101
MONSTER BEVERAGE CORP MNST 0.07 384296 BBG008NVB1C0 5196
AVALONBAY COMMUNITIES INC AVB 0.07 357072 BBG000BLPBL5 2187
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 349291 BBG00LBLDDR2 3629
OREILLY AUTOMOTIVE INC ORLY 0.07 391965 BBG000BGYWY6 4419
AMERICAN ELECTRIC POWER AEP 0.07 360606 BBG000BB9KF2 2819
IRON MOUNTAIN INC IRM 0.07 361581 BBG000KCZPC3 3547
EQUITY RESIDENTIAL EQR 0.07 357936 BBG000BG8M31 6128
PACCAR INC PCAR 0.06 323411 BBG000BQVTF5 2829
AIRBNB INC ABNB 0.06 305222 BBG001Y2XS07 2302
FORTINET INC FTNT 0.06 342420 BBG000BCMBG4 4137
Baker Hughes Company BKR 0.06 325344 BBG00GBVBK51 5203
XCEL ENERGY INC XEL 0.05 240469 BBG000BCTQ65 3125
IDEXX LABS IDXX 0.05 241817 BBG000BLRT07 418
NXP Semiconductors NV NXPI 0.05 266105 BBG000BND699 1376
MID-AMERICA APARTMENT COMM MAA 0.05 252001 BBG000BLMY92 2059
JOHNSON & JOHNSON JNJ 0.05 263670 BBG000BMHYD1 1120
INVITATION HOMES INC REIT USD.01 INVH 0.05 260970 BBG00FQH6BS9 10540
AUTODESK INC ADSK 0.05 271689 BBG000BM7HL0 1098
FERROVIAL SE FER 0.05 245036 BBG01H7CZ9S9 3887
CONSOLIDATED EDISON INC ED 0.05 291869 BBG000BHLYS1 2675
MCDONALDS CORP MCD 0.05 252328 BBG000BNSZP1 818
DIAMONDBACK ENERGY INC FANG 0.05 290930 BBG002PHSYX9 1517
ELECTRONIC ARTS INC EA 0.05 271928 BBG000BP0KQ8 1352
EXELON CORP EXC 0.05 247926 BBG000J6XT05 5256
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 280927 BBG000C30L48 261
ESSEX PROPERTY TRUST INC ESS 0.05 260531 BBG000CGJMB9 1074
Sun Communities Inc SUI 0.04 210980 BBG000BLJWF3 1635
ROPER TECHNOLOGIES INC ROP 0.04 201484 BBG000F1ZSN5 570
AO Smith Corp AOS 0.04 234707 BBG000BC1L02 3607
MICROCHIP TECHNOLOGY INC MCHP 0.04 194628 BBG000BHCP19 3025
PAYPAL HOLDINGS INC PYPL 0.04 225085 BBG0077VNXV6 4948
PPG INDUSTRIES INC PPG 0.04 231722 BBG000BRJ809 2270
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 200237 BBG000BS1YV5 997
KIMCO REALTY CORP KIM 0.04 212926 BBG000CN3S73 9380
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 226077 N/A 2483
KEURIG DR PEPPER INC KDP 0.04 194001 BBG000TJM7F0 7307
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 209449 BBG000BFGNJ5 683
MICROSTRATEGY INC-CL A MSTR 0.04 202187 BBG000GQJPZ0 1463
Datadog Inc. Class A DDOG 0.04 233389 BBG003NJHZT9 1806
W. P. CAREY REIT INC WPC 0.04 198841 BBG000BCQM58 2941
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 227586 BBG00B6BFWH9 2458
AXON ENTERPRISE INC AXON 0.04 213565 BBG000BHJWG1 421
Old Dominion Freight Line Inc. ODFL 0.04 207408 BBG000CHSS88 1105
Omega Healthcare Investors Inc OHI 0.04 203843 BBG000BGBTC2 4546
Cash & Other Cash&Other 0.03 136428 N/A 136428
INSMED INC INSM 0.03 166441 BBG000BWM5P3 1156
PAYCHEX INC PAYX 0.03 177650 BBG000BQSQ38 1900
VERISK ANALYTICS INC VRSK 0.03 143492 BBG000BCZL41 718
Zscaler Inc. ZS 0.03 148309 BBG003338H34 977
CHARTER COMMUNICATIONS INC-A CHTR 0.03 147511 BBG000VPGNR2 681
COPART INC CPRT 0.03 168586 BBG000BM9RH1 5049
WORKDAY INC-CLASS A WDAY 0.03 165568 BBG000VC0T95 1208
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 179985 BBG01BFR8YV1 2512
DEXCOM INC DXCM 0.03 144475 BBG000QTF8K1 2191
KRAFT HEINZ CO/THE KHC 0.03 138374 BBG005CPNTQ2 6524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 166557 BBG000BBDV81 2689
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 126340 BBG00CMNZNK7 126340
COSTAR GROUP INC CSGP 0.02 96890.8 BBG000D7JKW9 2258
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 71359.2 BBG01BGWHFR5 959
ASTRAZENECA PLC AZNCF 0.00 552.21 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.