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 10/16/2026
TICKER RAA
NET ASSETS $611M
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 $30.08
30 DAY MEDIAN BID-ASK SPREAD 0.000667

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
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 10/16/2026

NET ASSET VALUE

$30.08

CLOSING PRICE

$30.08

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 2
Discount 16 8 14 21 7

Asset Allocation

As of 10/16/2026

Equities

41.01%
Nasdaq
17.13%
US Large Cap
14.91%
US Small Cap
2.97%
Dividend Payers
2.18%
Emerging Ex. China
1.85%
Europe
1.00%
Japan
0.97%

Fixed Income

29.28%
Long Term Treasuries
8.18%
Corporate Bonds
6.02%
High Yield
5.96%
Emerging Mkt Bonds
4.00%
TIPS
3.02%
T-Bills
2.10%

Alternatives

29.71%
Commodities
10.36%
Energy
5.43%
Managed Futures
4.98%
Miners
3.96%
Real Estate
2.02%
Gold
2.00%
Bitcoin
0.96%

Holdings

As of 10/16/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.91 91066700 BBG00RYR67P4 1868420
INVESCO OPTIMUM YIELD DIVERS PDBC 10.36 63256800 N/A 3145540
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.18 49928500 BBG00PZFJPC3 1711640
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.02 36780200 BBG000PWYVH7 465572
SCHWAB HIGH YIELD BOND ETF SCYB 5.96 36408700 BBG01F80WX71 1451700
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.00 24445500 BBG000NXKWH0 267106
iM DBi Managed Futures Strategy ETF DBMF 3.52 21495600 N/A 657156
SCHWAB U.S. TIPS ETF SCHP 3.02 18465900 BBG000BGN6P5 725574
Vanguard Morningstar Small-Cap ETF VB 2.97 18121100 BBG000HT3Z79 63735
SPROTT PHYSICAL GOLD TRUS PHYS 2.00 12229400 BBG000Q83F79 388235
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 12178500 BBG01922X0X9 243814
ISHARES MSCI EMR MRK EX CHNA EMXC 1.85 11314900 BBG00H5VLMJ6 122628
Simplify DBi CTA Managed Futures Index ETF SDMF 1.46 8916970 BBG020BR8WR7 327340
NVIDIA CORP NVDA 1.39 8471200 BBG000BBJQV0 39561
APPLE INC AAPL 1.33 8138280 BBG000B9XRY4 23695
MICROSOFT CORP MSFT 1.05 6417910 BBG000BPH459 12131
Franklin FTSE Europe ETF FLEE 1.00 6103480 BBG00J3PR1S7 160430
Franklin FTSE Japan ETF FLJP 0.97 5902910 BBG00J3MDY16 145895
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.96 5883950 N/A 163307
BHP GROUP LTD BHP 0.83 5065950 BBG000BD5NZ4 60823
MICRON TECHNOLOGY INC MU 0.74 4534810 BBG000C5Z1S3 5160
AMAZON.COM INC AMZN 0.72 4411250 BBG000BVPV84 17645
ADVANCED MICRO DEVICES INC AMD 0.64 3929670 BBG000BBQCY0 7432
CHEVRON CORP CVX 0.61 3744960 BBG000K4ND22 16645
MARATHON PETROLEUM CORP MPC 0.60 3644330 BBG001DCCGR8 7623
META PLATFORMS INC META 0.58 3531020 BBG000MM2P62 4978
Suncor Energy Inc. SU 0.57 3456130 BBG000BC1LY5 44281
CANADIAN NATURAL RESOURCES CNQ 0.56 3423670 BBG000HW5GX3 63637
OCCIDENTAL PETROLEUM CORP OXY 0.56 3438140 BBG000BQQ2S6 55116
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.55 3328670 BBG023CY9MM1 18598
EQT CORP EQT 0.55 3367740 BBG000BHZ5J9 62021
Cheniere Energy Inc LNG 0.54 3287920 BBG000C3HSR0 11360
ALPHABET INC-CL A GOOGL 0.53 3228110 BBG009S39JX6 9478
WILLIAMS COMPANIES INC. WMB 0.52 3199760 BBG000BWVCP8 44890
SCHLUMBERGER LTD SLB 0.50 3062270 BBG000BT41Q8 61864
Tesla Inc. TSLA 0.50 3078260 BBG000N9MNX3 8678
NEWMONT GOLDCORP CORPORATION COM NEM 0.49 2980660 BBG000BPWXK1 25132
ALPHABET INC-CL C GOOG 0.49 3007260 BBG009S3NB30 8926
SPACE EXPLORATION TECH CORP A SPCX 0.47 2854300 BBG000NQF3Z5 19546
WAL-MART STORES INC WMT 0.45 2735240 BBG000BWXBC2 23022
Broadcom Inc. AVGO 0.44 2675370 BBG00KHY5S69 8138
FREEPORT-MCMORAN INC FCX 0.38 2313110 BBG000BJDB15 33263
AGNICO EAGLE MINES LTD AEM 0.37 2248200 BBG000DLVDK3 11862
RIO TINTO PLC-SPON ADR RIO 0.37 2248060 BBG000FD28T3 24890
COSTCO WHOLESALE CORP COST 0.34 2091970 BBG000F6H8W8 2115
INTEL CORP INTC 0.34 2085960 BBG000C0G1D1 23216
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.32 1931360 BBG000N7QR55 10382
CISCO SYSTEMS INC CSCO 0.31 1916910 BBG000C3J3C9 17850
WELLTOWER INC WELL 0.28 1714400 BBG000BKY1G5 7300
GLENCORE PLC -UNSP ADR GLNCY 0.27 1662580 BBG001VKX1Z1 107680
Barrick Mining Corp. B 0.26 1584630 N/A 38820
LAM RESH CORP LRCX 0.25 1507630 BBG000BNFLM9 5712
APPLIED MATERIALS INC AMAT 0.25 1502500 BBG000BBPFB9 3671
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1394800 BBG000PVRDL2 10395
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1325700 N/A 49801
NETFLIX INC NFLX 0.22 1352130 BBG000CL9VN6 19171
NUCOR CORP NUE 0.21 1310410 BBG000BQ8KV2 5113
PROLOGIS INC PLD 0.21 1304030 BBG000B9Z0J8 10370
AUTOMATIC DATA PROCESSING ADP 0.20 1195470 BBG000JG0547 4138
PALO ALTO NETWORKS INC PANW 0.20 1232570 BBG0014GJCT9 3604
REALTY INCOME CORP O 0.20 1250750 BBG000DHPN63 22303
PEPSICO INC PEP 0.20 1196690 BBG000DH7JK6 9101
TEXAS INSTRUMENTS INC TXN 0.20 1194670 BBG000BVV7G1 4321
LINDE PLC LIN 0.18 1096050 BBG01FND0CC1 2199
AMGEN INC AMGN 0.18 1114530 BBG000BBS2Y0 2577
EQUINIX INC EQIX 0.18 1125000 BBG000MBDGM6 1141
Crowdstrike Holdings Inc. Class A CRWD 0.17 1046900 BBG00BLYKS03 4604
FRANCO-NEVADA CORP FNV 0.17 1064080 BBG000TRN6Z1 4366
KLA CORPORATION KLAC 0.17 1040020 BBG000BMTFR4 6275
VALE SA-SP ADR VALE 0.16 949802 BBG000BN5LG7 72726
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 909725 BBG00ZXBJ153 3993
GILEAD SCIENCES INC GILD 0.15 923239 BBG000CKGBP2 5911
SHOPIFY INC - CLASS A SHOP 0.15 922867 BBG004DW5NB8 5444
ANALOG DEVICES INC ADI 0.15 910698 BBG000BB6G37 2303
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.14 839373 BBG00CMNZNK7 839373
SANDISK CORP/DE SNDKV SNDK 0.14 839348 BBG01R388JG1 646
T-MOBILE US INC TMUS 0.14 829229 BBG000NDV1D4 5212
QUALCOMM INC QCOM 0.14 834906 BBG000CGC1X8 4851
SIMON PROPERTY GROUP INC SPG 0.14 844769 BBG000BJ2D31 4112
PUBLIC STORAGE PSA 0.13 778589 BBG000BPPN67 2610
DIGITAL REALTY TRUST INC DLR 0.13 805063 BBG000Q5ZRM7 4575
INTUITIVE SURGICAL INC ISRG 0.12 721550 BBG000BJPDZ1 1691
Vivmark Residential VMRK 0.12 726666 BBG000BG8M31 11862
Ventas Inc. VTR 0.12 731184 BBG000FRVHB9 8516
KENVUE INC KVUE 0.11 644434 BBG01C79X561 34079
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 681824 BBG0113JGQF0 1067
MEDTRONIC PLC MDT 0.11 661450 BBG000BNWG87 6981
Kimberly-Clark Corp KMB 0.11 651367 BBG000BMW2Z0 6170
CLOROX COMPANY CLX 0.11 652914 BBG000BFS7D3 7497
ABBVIE INC ABBV 0.11 668454 BBG0025Y4RY4 2342
ASML HOLDING NV-NY REG SHS ASML 0.11 681231 BBG000K6MRN4 415
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 632931 N/A 14434
International Business Machines Corporation IBM 0.10 606814 BBG000BLNNH6 2614
FRANKLIN RESOURCES INC BEN 0.10 586142 BBG000BD0TF8 18920
T ROWE PRICE GROUP INC TROW 0.10 588655 BBG000BVMPN3 5830
STANLEY BLACK & DECKER INC SWK 0.10 626090 BBG000BTQR96 6770
AO Smith Corp AOS 0.10 625718 BBG000BC1L02 10566
VERTEX PHARMACEUTICALS INC VRTX 0.10 601187 BBG000C1S2X2 1203
HORMEL FOODS CORP HRL 0.10 627198 BBG000BLF8D2 30745
GENUINE PARTS CO GPC 0.10 615144 BBG000BKL348 4592
IRON MOUNTAIN INC IRM 0.09 556700 BBG000KCZPC3 4948
ILLINOIS TOOL WORKS ITW 0.09 537481 BBG000BMBL90 1974
WESTERN DIGITAL CORP WDC 0.09 559752 BBG000BWNFZ9 1686
BOOKING HOLDINGS INC BKNG 0.09 561451 BBG000BLBVN4 3435
FORTINET INC FTNT 0.09 579439 BBG000BCMBG4 3426
EVERSOURCE ENERGY ES 0.09 529920 BBG000BQ87N0 7927
STARBUCKS CORP SBUX 0.09 537433 BBG000CTQBF3 5511
ARM HOLDINGS PLC ARM 0.08 459245 BBG01J1GXZF0 2016
CONSTELLATION ENERGY CORPORATION CEG 0.08 467570 BBG014KFRNP7 1723
Marriott International, Inc Class A MAR 0.08 497480 BBG000BGD7W6 1282
ADOBE SYSTEMS INC ADBE 0.08 465880 BBG000BB5006 1900
PPG INDUSTRIES INC PPG 0.08 515365 BBG000BRJ809 4799
EXTRA SPACE STORAGE INC EXR 0.08 482771 BBG000PV27K3 3458
CSX CORP CSX 0.07 439045 BBG000BGJRC8 9019
CINTAS CORP CTAS 0.07 412635 BBG000H3YXF8 1931
MERCADOLIBRE INC MELI 0.07 434658 BBG000GQPB11 237
INTUIT INC INTU 0.07 421720 BBG000BH5DV1 1297
CADENCE DESIGN SYS INC CDNS 0.07 398109 BBG000C13CD9 1246
VICI PROPERTIES INC REIT VICI 0.07 422888 BBG00HVVB499 17919
SYNOPSYS INC SNPS 0.07 415532 BBG000BSFRF3 914
MONSTER BEVERAGE CORP MNST 0.07 436447 BBG008NVB1C0 9544
APPLOVIN CORP APP 0.06 392808 BBG006HFPX77 1476
DOORDASH INC CLASS A DASH 0.06 371301 BBG005D7QCJ3 1963
AIRBNB INC ABNB 0.06 357301 BBG001Y2XS07 2057
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 393686 BBG000D4LWF6 6160
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 388961 BBG000BBTJZ1 1596
REGENERON PHARMACEUTICALS REGN 0.06 374811 BBG000C734W3 474
OREILLY AUTOMOTIVE INC ORLY 0.06 350653 BBG000BGYWY6 3928
Datadog Inc. Class A DDOG 0.06 389445 BBG003NJHZT9 1576
LUMENTUM HOLDINGS INC LITE 0.06 347783 BBG0073F9RT7 422
COMCAST CORP-CLASS A CMCSA 0.06 377863 BBG000BFT2L4 17254
ROSS STORES INC ROST 0.06 361257 BBG000BSBZH7 1525
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 322189 BBG022XF4SZ9 1524
ESSEX PROPERTY TRUST INC ESS 0.05 284249 BBG000CGJMB9 1055
PACCAR INC PCAR 0.05 283034 BBG000BQVTF5 2554
FASTENAL CO FAST 0.05 281886 BBG000BJ8YN7 5525
AMERICAN ELECTRIC POWER AEP 0.05 333615 BBG000BB9KF2 2624
HOST HOTELS & RESORTS INC HST 0.05 275008 BBG000BL8804 11473
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 254488 BBG020QYV152 1514
ASTERA LABS INC ALAB 0.04 214937 BBG00TDKHW99 752
MID-AMERICA APARTMENT COMM MAA 0.04 222297 BBG000BLMY92 1906
KIMCO REALTY CORP KIM 0.04 250567 BBG000CN3S73 10937
Omega Healthcare Investors Inc OHI 0.04 227013 BBG000BGBTC2 4974
W. P. CAREY REIT INC WPC 0.04 243624 BBG000BCQM58 3740
EXELON CORP EXC 0.04 213846 BBG000J6XT05 4916
XCEL ENERGY INC XEL 0.04 229846 BBG000BCTQ65 3012
DIAMONDBACK ENERGY INC FANG 0.04 269010 BBG002PHSYX9 1319
HEALTHPEAK PROPERTIES INC DOC 0.04 217988 BBG000BKYDP9 11547
NXP Semiconductors NV NXPI 0.04 274049 BBG000BND699 1195
KEURIG DR PEPPER INC KDP 0.04 227869 BBG000TJM7F0 6582
Baker Hughes Company BKR 0.04 255663 BBG00GBVBK51 4590
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 261128 BBG00LBLDDR2 3225
INVITATION HOMES INC REIT USD.01 INVH 0.04 267749 BBG00FQH6BS9 9891
AUTODESK INC ADSK 0.04 242059 BBG000BM7HL0 1009
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 240648 BBG00B6BFWH9 2141
PAYPAL HOLDINGS INC PYPL 0.04 241145 BBG0077VNXV6 4253
TERADYNE INC TER 0.04 238550 BBG000BV4DR6 734
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 262757 BBG000C30L48 217
THOMSON REUTERS CORP TRI 0.03 199270 N/A 1828
FERROVIAL SA FER 0.03 171101 BBG01H0DF657 3462.88
DEXCOM INC DXCM 0.03 159432 BBG000QTF8K1 1853
MICROSTRATEGY INC-CL A MSTR 0.03 207571 BBG000GQJPZ0 1517
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 194605 BBG000BS1YV5 948
Nebius Group NV NBIS 0.03 176887 BBG001NVJ6W4 1069
WORKDAY INC-CLASS A WDAY 0.03 188139 BBG000VC0T95 986
PAYCHEX INC PAYX 0.03 191557 BBG000BQSQ38 1716
IDEXX LABS IDXX 0.03 202850 BBG000BLRT07 362
ROPER TECHNOLOGIES INC ROP 0.03 171837 BBG000F1ZSN5 449
Old Dominion Freight Line Inc. ODFL 0.03 185280 BBG000CHSS88 987
MICROCHIP TECHNOLOGY INC MCHP 0.03 192748 BBG000BHCP19 2610
ROCKET LAB CORP RKLB 0.02 141793 BBG01V7JN3F3 2789
COREWEAVE INC CRWV 0.02 131006 BBG011ZTRJ21 2134
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 151384 BBG01BFR8YV1 2176
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 140028 BBG000B9ZXB4 1335
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 141416 BBG000BFGNJ5 610
AIR PRODUCTS & CHEMICALS INC APD 0.02 129123 BBG000BC4JJ4 431
AXON ENTERPRISE INC AXON 0.02 152213 BBG000BHJWG1 390
COPART INC CPRT 0.02 122433 BBG000BM9RH1 4393
CONSOLIDATED EDISON INC ED 0.02 131793 BBG000BHLYS1 1174
MCDONALDS CORP MCD 0.02 126344 BBG000BNSZP1 520
Cash & Other Cash&Other -0.03 -157984 N/A -157984

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.