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 08/25/2026
TICKER RAA
NET ASSETS $618M
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 $30.46
30 DAY MEDIAN BID-ASK SPREAD 0.000684

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 16.01% NA NA 14.22%
RAA - Market Price 16.17% NA NA 14.27%
S&P 500 Index Total Return 19.56% NA NA 18.87%
1 MO 3 MO YTD Since Inception
RAA - NAV -0.15% -2.77% 0.18% 7.07% 7.63% 7.79% 14.22% 15.31%
RAA - Market Price -0.16% -2.70% 0.16% 7.15% 7.66% 7.83% 14.27% 15.38%
S&P 500 Index Total Return -0.06% -0.95% 4.19% 15.20% 10.14% 10.21% 18.87% 20.23%
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 08/25/2026

NET ASSET VALUE

$30.46

CLOSING PRICE

$30.46

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 22
Discount 13 16 8 14 10

Asset Allocation

As of 8/25/2026

Equities

40.02%
Nasdaq
16.10%
US Large Cap
9.94%
Dividend Payers
4.92%
Emerging Ex. China
3.09%
US Small Cap
2.98%
Japan
2.00%
Europe
0.99%

Fixed Income

24.69%
Long Term Treasuries
5.92%
High Yield
5.86%
Emerging Mkt Bonds
3.91%
Corporate Bonds
3.90%
TIPS
2.92%
T-Bills
2.18%

Alternatives

35.29%
Managed Futures
10.66%
Commodities
9.01%
Energy
5.02%
Real Estate
3.73%
Miners
3.33%
Bitcoin
2.42%
Gold
1.12%

Holdings

As of 08/25/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.94 61462600 BBG00RYR67P4 1255110
iM DBi Managed Futures Strategy ETF DBMF 9.28 57352200 N/A 1849480
INVESCO OPTIMUM YIELD DIVERS PDBC 9.01 55723500 N/A 3066790
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.92 36607100 BBG00PZFJPC3 1204580
SCHWAB HIGH YIELD BOND ETF SCYB 5.86 36253200 BBG01F80WX71 1389010
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.91 24153200 BBG000NXKWH0 253231
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.90 24139400 BBG000PWYVH7 295898
ISHARES MSCI EMR MRK EX CHNA EMXC 3.09 19104000 BBG00H5VLMJ6 194245
VANGUARD SMALL-CAP ETF VB 2.98 18411200 BBG000HT3Z79 60761
SCHWAB U.S. TIPS ETF SCHP 2.92 18043400 BBG000BGN6P5 691583
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.42 14993900 N/A 429378
Franklin FTSE Japan ETF FLJP 2.00 12338300 BBG00J3MDY16 302484
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.93 11959800 BBG01922X0X9 239196
Simplify DBi CTA Managed Futures Index ETF SDMF 1.38 8544980 BBG020BR8WR7 331121
NVIDIA CORP NVDA 1.30 8028150 BBG000BBJQV0 37682
APPLE INC AAPL 1.30 8039740 BBG000B9XRY4 25943
SPROTT PHYSICAL GOLD TRUS PHYS 1.12 6896870 BBG000Q83F79 194552
Franklin FTSE Europe ETF FLEE 0.99 6138760 BBG00J3PR1S7 151587
MICROSOFT CORP MSFT 0.91 5657120 BBG000BPH459 11505
MICRON TECHNOLOGY INC MU 0.79 4894360 BBG000C5Z1S3 5246
BHP GROUP LTD BHP 0.75 4648500 BBG000BD5NZ4 47102
CHEVRON CORP CVX 0.63 3902850 BBG000K4ND22 19525
AMAZON.COM INC AMZN 0.63 3905200 BBG000BVPV84 14959
ADVANCED MICRO DEVICES INC AMD 0.56 3479810 BBG000BBQCY0 7262
WELLTOWER INC WELL 0.55 3406240 BBG000BKY1G5 14125
MARATHON PETROLEUM CORP MPC 0.55 3380940 BBG001DCCGR8 9527
SCHLUMBERGER LTD SLB 0.52 3211150 BBG000BT41Q8 60258
Cheniere Energy Inc LNG 0.51 3163820 BBG000C3HSR0 11348
CANADIAN NATURAL RESOURCES CNQ 0.50 3105820 BBG000HW5GX3 62630
OCCIDENTAL PETROLEUM CORP OXY 0.50 3081540 BBG000BQQ2S6 52757
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.50 3105170 BBG023CY9MM1 19330
EQT CORP EQT 0.49 3040420 BBG000BHZ5J9 56304
ALPHABET INC-CL A GOOGL 0.49 3040410 BBG009S39JX6 8763
WILLIAMS COMPANIES INC. WMB 0.48 2970720 BBG000BWVCP8 41794
REALTY INCOME CORP O 0.47 2883520 BBG000DHPN63 45894
Suncor Energy Inc. SU 0.47 2910740 BBG000BC1LY5 44534
ALPHABET INC-CL C GOOG 0.46 2834620 BBG009S3NB30 8256
Tesla Inc. TSLA 0.45 2756820 BBG000N9MNX3 7871
NEWMONT GOLDCORP CORPORATION COM NEM 0.45 2753480 BBG000BPWXK1 20375
PROLOGIS INC PLD 0.44 2717390 BBG000B9Z0J8 18959
META PLATFORMS INC META 0.43 2662130 BBG000MM2P62 4670
Broadcom Inc. AVGO 0.43 2679120 BBG00KHY5S69 7510
WAL-MART STORES INC WMT 0.37 2261240 BBG000BWXBC2 21458
EQUINIX INC EQIX 0.36 2245640 BBG000MBDGM6 2092
FREEPORT-MCMORAN INC FCX 0.36 2202800 BBG000BJDB15 27566
AGNICO EAGLE MINES LTD AEM 0.34 2112240 BBG000DLVDK3 9425
AUTOMATIC DATA PROCESSING ADP 0.34 2099360 BBG000JG0547 7424
RIO TINTO PLC-SPON ADR RIO 0.33 2032170 BBG000FD28T3 19026
PEPSICO INC PEP 0.31 1947250 BBG000DH7JK6 13687
INTEL CORP INTC 0.31 1910560 BBG000C0G1D1 21840
CISCO SYSTEMS INC CSCO 0.31 1886540 BBG000C3J3C9 16979
COSTCO WHOLESALE CORP COST 0.30 1865300 BBG000F6H8W8 1943
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1766160 BBG000N7QR55 10225
LAM RESH CORP LRCX 0.27 1668010 BBG000BNFLM9 5301
SIMON PROPERTY GROUP INC SPG 0.27 1640240 BBG000BJ2D31 7490
APPLIED MATERIALS INC AMAT 0.26 1600930 BBG000BBPFB9 3335
MEDTRONIC PLC MDT 0.26 1591940 BBG000BNWG87 17467
CLOROX COMPANY CLX 0.26 1638270 BBG000BFS7D3 15613
DIGITAL REALTY TRUST INC DLR 0.26 1626830 BBG000Q5ZRM7 8459
Barrick Mining Corp ABX 0.26 1582070 N/A 32373
PUBLIC STORAGE PSA 0.25 1543980 BBG000BPPN67 4785
AO Smith Corp AOS 0.25 1545610 BBG000BC1L02 24869
NETFLIX INC NFLX 0.25 1576270 BBG000CL9VN6 19169
FRANKLIN RESOURCES INC BEN 0.25 1532070 BBG000BD0TF8 43736
STANLEY BLACK & DECKER INC SWK 0.25 1538140 BBG000BTQR96 15622
ABBVIE INC ABBV 0.25 1575340 BBG0025Y4RY4 5927
AMCOR PLC COMMON STOCK USD.01 AMCR 0.25 1576270 N/A 33346
KENVUE INC KVUE 0.24 1496640 BBG01C79X561 77426
Kimberly-Clark Corp KMB 0.24 1508320 BBG000BMW2Z0 13586
EQUITY RESIDENTIAL EQR 0.24 1512650 BBG000BG8M31 22369.9
T ROWE PRICE GROUP INC TROW 0.24 1499250 BBG000BVMPN3 13283
GENUINE PARTS CO GPC 0.23 1452610 BBG000BKL348 10530
HORMEL FOODS CORP HRL 0.23 1412530 BBG000BLF8D2 59400
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1424360 BBG000PVRDL2 8700
International Business Machines Corporation IBM 0.23 1392730 BBG000BLNNH6 5947
GLENCORE PLC -UNSP ADR GLNCY 0.22 1342010 BBG001VKX1Z1 81581
PPG INDUSTRIES INC PPG 0.22 1342430 BBG000BRJ809 11812
EVERSOURCE ENERGY ES 0.22 1348720 BBG000BQ87N0 18988
Ventas Inc. VTR 0.22 1379110 BBG000FRVHB9 14698
PALO ALTO NETWORKS INC PANW 0.20 1218880 BBG0014GJCT9 3586
SPACE EXPLORATION TECH CORP A SPCX 0.20 1207200 BBG000NQF3Z5 8751
ILLINOIS TOOL WORKS ITW 0.19 1171660 BBG000BMBL90 4160
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.19 1166990 N/A 40255
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1091510 BBG000BBTJZ1 4231
NUCOR CORP NUE 0.17 1030300 BBG000BQ8KV2 4162
TEXAS INSTRUMENTS INC TXN 0.17 1063600 BBG000BVV7G1 4090
AMGEN INC AMGN 0.17 1026880 BBG000BBS2Y0 2322
LINDE PLC LIN 0.17 1034330 BBG01FND0CC1 2123
IRON MOUNTAIN INC IRM 0.16 991017 BBG000KCZPC3 8197
FRANCO-NEVADA CORP FNV 0.16 985710 BBG000TRN6Z1 3627
KLA CORPORATION KLAC 0.16 989853 BBG000BMTFR4 5399
SANDISK CORP/DE SNDKV SNDK 0.16 969904 BBG01R388JG1 655
EXTRA SPACE STORAGE INC EXR 0.15 931804 BBG000PV27K3 6432
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 886762 BBG00ZXBJ153 3689
SHOPIFY INC - CLASS A SHOP 0.14 852341 BBG004DW5NB8 5539
VICI PROPERTIES INC REIT VICI 0.14 840018 BBG00HVVB499 31952
T-MOBILE US INC TMUS 0.14 890071 BBG000NDV1D4 4901
QUALCOMM INC QCOM 0.13 773096 BBG000CGC1X8 4815
VALE SA-SP ADR VALE 0.13 788039 BBG000BN5LG7 51405
GILEAD SCIENCES INC GILD 0.13 816896 BBG000CKGBP2 5491
Crowdstrike Holdings Inc. Class A CRWD 0.13 812150 BBG00BLYKS03 4381
ANALOG DEVICES INC ADI 0.13 784686 BBG000BB6G37 2100
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 772370 BBG0113JGQF0 940
BOOKING HOLDINGS INC BKNG 0.12 722576 BBG000BLBVN4 3380
WESTERN DIGITAL CORP WDC 0.11 673420 BBG000BWNFZ9 1494
ASML HOLDING NV-NY REG SHS ASML 0.11 687199 BBG000K6MRN4 394
VERTEX PHARMACEUTICALS INC VRTX 0.10 623062 BBG000C1S2X2 1127
FASTENAL CO FAST 0.09 570364 BBG000BJ8YN7 11337
INTUITIVE SURGICAL INC ISRG 0.09 563338 BBG000BJPDZ1 1515
ESSEX PROPERTY TRUST INC ESS 0.09 550128 BBG000CGJMB9 1884
STARBUCKS CORP SBUX 0.09 539693 BBG000CTQBF3 5103
INVITATION HOMES INC REIT USD.01 INVH 0.09 545593 BBG00FQH6BS9 18060
Sun Communities Inc SUI 0.08 486380 BBG000BLJWF3 3862
ARM HOLDINGS PLC ARM 0.08 467177 BBG01J1GXZF0 1934
MID-AMERICA APARTMENT COMM MAA 0.08 472620 BBG000BLMY92 3581
W. P. CAREY REIT INC WPC 0.08 466498 BBG000BCQM58 6499
CADENCE DESIGN SYS INC CDNS 0.07 409233 BBG000C13CD9 1233
HOST HOTELS & RESORTS INC HST 0.07 436632 BBG000BL8804 18984
COMCAST CORP-CLASS A CMCSA 0.07 404630 BBG000BFT2L4 14931
CONSTELLATION ENERGY CORPORATION CEG 0.07 439625 BBG014KFRNP7 1579
DOORDASH INC CLASS A DASH 0.07 425204 BBG005D7QCJ3 1821
ADOBE SYSTEMS INC ADBE 0.07 459638 BBG000BB5006 1678
KIMCO REALTY CORP KIM 0.07 451390 BBG000CN3S73 18761
MONSTER BEVERAGE CORP MNST 0.07 422002 BBG008NVB1C0 8660
MERCADOLIBRE INC MELI 0.07 443334 BBG000GQPB11 222
INTUIT INC INTU 0.07 406789 BBG000BH5DV1 1138
CSX CORP CSX 0.07 426194 BBG000BGJRC8 8274
FORTINET INC FTNT 0.07 456063 BBG000BCMBG4 2968
APPLOVIN CORP APP 0.07 425440 BBG006HFPX77 1370
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 363137 BBG000D4LWF6 5765
Marriott International, Inc Class A MAR 0.06 398914 BBG000BGD7W6 1115
ROSS STORES INC ROST 0.06 343455 BBG000BSBZH7 1424
AIRBNB INC ABNB 0.06 374714 BBG001Y2XS07 1967
REGENERON PHARMACEUTICALS REGN 0.06 391773 BBG000C734W3 470
CINTAS CORP CTAS 0.06 357716 BBG000H3YXF8 1747
Datadog Inc. Class A DDOG 0.06 342959 BBG003NJHZT9 1538
PACCAR INC PCAR 0.05 289453 BBG000BQVTF5 2240
Warner Bros Discovery Inc WBD 0.05 329316 BBG011386VF4 11395
NXP Semiconductors NV NXPI 0.05 283185 BBG000BND699 1260
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 327951 BBG000B9ZXB4 2824
SYNOPSYS INC SNPS 0.05 316403 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 295446 BBG000BNSZP1 1102
CONSOLIDATED EDISON INC ED 0.05 292249 BBG000BHLYS1 2729
OREILLY AUTOMOTIVE INC ORLY 0.05 301669 BBG000BGYWY6 3340
LUMENTUM HOLDINGS INC LITE 0.05 289580 BBG0073F9RT7 327
AMERICAN ELECTRIC POWER AEP 0.05 284581 BBG000BB9KF2 2318
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 314677 BBG022XF4SZ9 1459
XCEL ENERGY INC XEL 0.04 235121 BBG000BCTQ65 3046
PAYPAL HOLDINGS INC PYPL 0.04 259853 BBG0077VNXV6 4173
Baker Hughes Company BKR 0.04 243880 BBG00GBVBK51 3945
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 271263 BBG000C30L48 208
TERADYNE INC TER 0.04 229019 BBG000BV4DR6 625
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 237672 BBG00CMNZNK7 237672
AUTODESK INC ADSK 0.04 256234 BBG000BM7HL0 1020
DIAMONDBACK ENERGY INC FANG 0.04 235870 BBG002PHSYX9 1180
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 237627 BBG00LBLDDR2 2708
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 239363 BBG00B6BFWH9 2179
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 229796 BBG020QYV152 1433
PAYCHEX INC PAYX 0.03 191985 BBG000BQSQ38 1536
MICROCHIP TECHNOLOGY INC MCHP 0.03 174342 BBG000BHCP19 2372
ROPER TECHNOLOGIES INC ROP 0.03 188910 BBG000F1ZSN5 457
ASTERA LABS INC ALAB 0.03 211705 BBG00TDKHW99 749
AXON ENTERPRISE INC AXON 0.03 209122 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 167201 BBG000CHSS88 843
IDEXX LABS IDXX 0.03 177103 BBG000BLRT07 322
EXELON CORP EXC 0.03 172587 BBG000J6XT05 3895
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 172368 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 182475 BBG000TJM7F0 5731
FERROVIAL SA FER 0.03 172316 BBG01H0DF657 2733.88
Nebius Group NV NBIS 0.03 208430 BBG001NVJ6W4 939
MICROSTRATEGY INC-CL A MSTR 0.03 161455 BBG000GQJPZ0 1273
ROCKET LAB CORP RKLB 0.03 183735 BBG01V7JN3F3 2746
THOMSON REUTERS CORP TRI 0.03 191642 N/A 1836
KRAFT HEINZ CO/THE KHC 0.02 116447 BBG005CPNTQ2 4599
WORKDAY INC-CLASS A WDAY 0.02 145232 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 140687 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 129786 BBG01BFR8YV1 1756
COREWEAVE INC CRWV 0.02 145530 BBG011ZTRJ21 1653
COPART INC CPRT 0.02 136886 BBG000BM9RH1 4107
DEXCOM INC DXCM 0.02 127677 BBG000QTF8K1 1432
Cash & Other Cash&Other -0.01 -76400.6 N/A -76400.6

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.