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 06/10/2026
TICKER RAA
NET ASSETS $586M
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 $29.38
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 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 6.72% -3.97% 4.53% 0.68% 7.44% 0.68% 17.36% 11.92%
RAA - Market Price 6.81% -3.98% 4.39% 0.63% 7.28% 0.63% 17.22% 11.89%
S&P 500 Index Total Return 10.49% -4.98% 4.19% -4.33% 5.70% -4.33% 19.15% 10.18%
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 06/10/2026

NET ASSET VALUE

$29.38

CLOSING PRICE

$29.40

PREMIUM/DISCOUNT

0.07%
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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 33
Discount 5 13 16 8 9

Asset Allocation

As of 6/10/2026

Equities

41.51%
Nasdaq
16.55%
US Large Cap
14.87%
Dividend Payers
3.15%
US Small Cap
2.02%
Japan
1.99%
Emerging Ex. China
1.93%
Europe
1.00%

Fixed Income

19.62%
High Yield
6.14%
Corporate Bonds
4.09%
Emerging Mkt Bonds
4.09%
TIPS
3.06%
T-Bills
1.22%
Long Term Treasuries
1.02%

Alternatives

38.87%
Managed Futures
10.29%
Commodities
10.25%
Energy
5.27%
Gold
4.61%
Miners
3.75%
Bitcoin
2.61%
Real Estate
2.09%

Holdings

As of 06/10/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.87 87147500 BBG00RYR67P4 626870
INVESCO OPTIMUM YIELD DIVERS PDBC 10.25 60091900 N/A 3447610
iM DBi Managed Futures Strategy ETF DBMF 9.26 54293700 N/A 1762780
SCHWAB HIGH YIELD BOND ETF SCYB 6.14 36003100 BBG01F80WX71 1383670
SPROTT PHYSICAL GOLD TRUS PHYS 4.61 27022500 BBG000Q83F79 877925
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 4.09 23981600 BBG000PWYVH7 292565
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.09 23981500 BBG000NXKWH0 251510
SCHWAB U.S. TIPS ETF SCHP 3.06 17937300 BBG000BGN6P5 678415
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.61 15273200 N/A 557824
VANGUARD SMALL-CAP ETF VB 2.02 11849300 BBG000HT3Z79 41268
Franklin FTSE Japan ETF FLJP 1.99 11637700 BBG00J3MDY16 304175
ISHARES MSCI EMR MRK EX CHNA EMXC 1.93 11287300 BBG00H5VLMJ6 119848
NVIDIA CORP NVDA 1.35 7940840 BBG000BBJQV0 39621
APPLE INC AAPL 1.21 7076940 BBG000B9XRY4 24271
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.04 6071150 BBG01922X0X9 121642
Simplify DBi CTA Managed Futures Index ETF SDMF 1.03 6037100 BBG020BR8WR7 235640
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 1.02 5993240 BBG00PZFJPC3 194712
Franklin FTSE Europe ETF FLEE 1.00 5881840 BBG00J3PR1S7 154291
MICROSOFT CORP MSFT 0.80 4695210 BBG000BPH459 11816
BHP GROUP LTD BHP 0.76 4432100 BBG000BD5NZ4 53431
MICRON TECHNOLOGY INC MU 0.74 4343460 BBG000C5Z1S3 4870
AMAZON.COM INC AMZN 0.72 4222120 BBG000BVPV84 17740
CHEVRON CORP CVX 0.63 3714770 BBG000K4ND22 19572
ALPHABET INC-CL A GOOGL 0.59 3469000 BBG009S39JX6 9734
ADVANCED MICRO DEVICES INC AMD 0.58 3384860 BBG000BBQCY0 7482
Cheniere Energy Inc LNG 0.55 3240740 BBG000C3HSR0 13402
MARATHON PETROLEUM CORP MPC 0.55 3197270 BBG001DCCGR8 12144
ALPHABET INC-CL C GOOG 0.55 3209910 BBG009S3NB30 9085
Tesla Inc. TSLA 0.54 3156890 BBG000N9MNX3 8273
EXXON MOBIL CORP XOM 0.54 3141030 BBG000GZQ728 20854
CANADIAN NATURAL RESOURCES CNQ 0.52 3069190 BBG000HW5GX3 67425
OCCIDENTAL PETROLEUM CORP OXY 0.52 3064500 BBG000BQQ2S6 53669
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.52 3032600 BBG000BRK7L6 48842
SCHLUMBERGER LTD SLB 0.52 3063150 BBG000BT41Q8 55182
WILLIAMS COMPANIES INC. WMB 0.52 3058480 BBG000BWVCP8 42326
EQT CORP EQT 0.49 2895440 BBG000BHZ5J9 55036
META PLATFORMS INC META 0.48 2801230 BBG000MM2P62 4906
Broadcom Inc. AVGO 0.48 2817910 BBG00KHY5S69 7573
WAL-MART STORES INC WMT 0.47 2767780 BBG000BWXBC2 22952
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2503770 BBG000BPWXK1 26989
RIO TINTO PLC-SPON ADR RIO 0.43 2528410 BBG000FD28T3 25524
INTEL CORP INTC 0.42 2480870 BBG000C0G1D1 23177
CISCO SYSTEMS INC CSCO 0.36 2103000 BBG000C3J3C9 17702
COSTCO WHOLESALE CORP COST 0.35 2079830 BBG000F6H8W8 2115
FREEPORT-MCMORAN INC FCX 0.32 1893070 BBG000BJDB15 30494
AGNICO EAGLE MINES LTD AEM 0.32 1866200 BBG000DLVDK3 12239
APPLIED MATERIALS INC AMAT 0.31 1789730 BBG000BBPFB9 3601
LAM RESH CORP LRCX 0.31 1818810 BBG000BNFLM9 5652
GLENCORE PLC -UNSP ADR GLNCY 0.30 1785050 BBG001VKX1Z1 119481
REALTY INCOME CORP O 0.27 1593120 BBG000DHPN63 25650
NETFLIX INC NFLX 0.27 1582440 BBG000CL9VN6 19298
WELLTOWER INC WELL 0.26 1546100 BBG000BKY1G5 7315
PROLOGIS INC PLD 0.25 1479710 BBG000B9Z0J8 10151
Barrick Mining Corp. B 0.24 1434530 N/A 38573
AUTOMATIC DATA PROCESSING ADP 0.23 1365110 BBG000JG0547 5907
NUCOR CORP NUE 0.21 1220640 BBG000BQ8KV2 4873
KLA CORPORATION KLAC 0.21 1260030 BBG000BMTFR4 590
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1248840 BBG000N7QR55 9591
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.21 1222520 N/A 49355
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1144550 BBG000PVRDL2 10645
TEXAS INSTRUMENTS INC TXN 0.20 1182470 BBG000BVV7G1 4193
EQUINIX INC EQIX 0.20 1180580 BBG000MBDGM6 1137
LINDE PLC LIN 0.18 1076360 BBG01FND0CC1 2114
SANDISK CORP/DE SNDKV SNDK 0.18 1074670 BBG01R388JG1 654
FRANCO-NEVADA CORP FNV 0.17 993403 BBG000RD3CL8 4774
MEDTRONIC PLC MDT 0.17 978007 BBG000BNWG87 12187
CLOROX COMPANY CLX 0.17 980785 BBG000BFS7D3 9875
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.17 1015660 BBG00ZXBJ153 4021
KENVUE INC KVUE 0.16 940369 BBG01C79X561 52098
PALO ALTO NETWORKS INC PANW 0.16 917585 BBG0014GJCT9 3486
VALE SA-SP ADR VALE 0.16 940665 BBG000BN5LG7 63005
ILLINOIS TOOL WORKS ITW 0.16 916123 BBG000BMBL90 3662
T ROWE PRICE GROUP INC TROW 0.16 921364 BBG000BVMPN3 8657
T-MOBILE US INC TMUS 0.16 939440 BBG000NDV1D4 5063
Kimberly-Clark Corp KMB 0.16 932504 BBG000BMW2Z0 9180
HORMEL FOODS CORP HRL 0.16 940825 BBG000BLF8D2 38733
PEPSICO INC PEP 0.15 908206 BBG000DH7JK6 6293
QUALCOMM INC QCOM 0.15 889845 BBG000CGC1X8 4654
FRANKLIN RESOURCES INC BEN 0.15 906548 BBG000BD0TF8 29112
EVERSOURCE ENERGY ES 0.15 880454 BBG000BQ87N0 12727
STANLEY BLACK & DECKER INC SWK 0.15 881764 BBG000BTQR96 11382
SIMON PROPERTY GROUP INC SPG 0.15 878947 BBG000BJ2D31 4130
AMCOR PLC COMMON STOCK USD.01 AMCR 0.15 890124 N/A 23320
ANALOG DEVICES INC ADI 0.15 884686 BBG000BB6G37 2253
AMGEN INC AMGN 0.14 831829 BBG000BBS2Y0 2463
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 801302 BBG0113JGQF0 982
ABBVIE INC ABBV 0.14 792949 BBG0025Y4RY4 3525
GENUINE PARTS CO GPC 0.13 772971 BBG000BKL348 7853
WESTERN DIGITAL CORP WDC 0.13 745917 BBG000BWNFZ9 1522
PUBLIC STORAGE PSA 0.13 765953 BBG000BPPN67 2365
AO Smith Corp AOS 0.13 777048 BBG000BC1L02 13580
PPG INDUSTRIES INC PPG 0.13 761192 BBG000BRJ809 6738
J M Smucker Co COM STK NPV SJM 0.13 748886 BBG000BT1715 6398
DIGITAL REALTY TRUST INC DLR 0.13 750418 BBG000Q5ZRM7 4151
International Business Machines Corporation IBM 0.13 741636 BBG000BLNNH6 2723
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.13 780440 BBG00CMNZNK7 780440
GILEAD SCIENCES INC GILD 0.12 690249 BBG000CKGBP2 5682
Crowdstrike Holdings Inc. Class A CRWD 0.12 685309 BBG00BLYKS03 1058
APPLOVIN CORP APP 0.12 676369 BBG006HFPX77 1372
ASML HOLDING NV-NY REG SHS ASML 0.12 679802 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 668389 BBG000FRVHB9 7924
INTUITIVE SURGICAL INC ISRG 0.11 663352 BBG000BJPDZ1 1610
HONEYWELL INTERNATIONAL INC HON 0.10 587170 BBG000H556T9 2852
SHOPIFY INC - CLASS A SHOP 0.10 577355 BBG008HBD923 5336
IRON MOUNTAIN INC IRM 0.10 591635 BBG000KCZPC3 4796
BOOKING HOLDINGS INC BKNG 0.10 576537 BBG000BLBVN4 3589
ERIE INDEMNITY COMPANY-CL A ERIE 0.09 544921 BBG000BBTJZ1 2349
VERTEX PHARMACEUTICALS INC VRTX 0.09 500195 BBG000C1S2X2 1148
EXTRA SPACE STORAGE INC EXR 0.09 500711 BBG000PV27K3 3347
STARBUCKS CORP SBUX 0.09 527477 BBG000CTQBF3 5341
EQUITY RESIDENTIAL EQR 0.08 439735 BBG000BG8M31 6504
Marriott International, Inc Class A MAR 0.08 469656 BBG000BGD7W6 1216
FORTINET INC FTNT 0.08 441083 BBG000BCMBG4 3176
VICI PROPERTIES INC REIT VICI 0.08 490669 BBG00HVVB499 17271
CADENCE DESIGN SYS INC CDNS 0.08 472169 BBG000C13CD9 1226
FASTENAL CO FAST 0.07 432084 BBG000BJ8YN7 9387
COMCAST CORP-CLASS A CMCSA 0.07 398094 BBG000BFT2L4 16608
ADOBE SYSTEMS INC ADBE 0.07 405148 BBG000BB5006 1736
CONSTELLATION ENERGY CORPORATION CEG 0.07 399068 BBG014KFRNP7 1647
MONSTER BEVERAGE CORP MNST 0.07 407344 BBG008NVB1C0 4466
CSX CORP CSX 0.07 405391 BBG000BGJRC8 8735
SYNOPSYS INC SNPS 0.07 408499 BBG000BSFRF3 887
AVALONBAY COMMUNITIES INC AVB 0.07 432516 BBG000BLPBL5 2318
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 372693 BBG000D4LWF6 5807
MONOLITHIC POWER SYSTEMS INC MPWR 0.06 329961 BBG000C30L48 224
NXP Semiconductors NV NXPI 0.06 333820 BBG000BND699 1169
ROSS STORES INC ROST 0.06 327007 BBG000BSBZH7 1410
MERCADOLIBRE INC MELI 0.06 366895 BBG000GQPB11 231
INTUIT INC INTU 0.06 340496 BBG000BH5DV1 1198
CINTAS CORP CTAS 0.06 335724 BBG000H3YXF8 1861
OREILLY AUTOMOTIVE INC ORLY 0.06 350804 BBG000BGYWY6 3878
AMERICAN ELECTRIC POWER AEP 0.06 325309 BBG000BB9KF2 2531
PACCAR INC PCAR 0.05 274032 BBG000BQVTF5 2404
ESSEX PROPERTY TRUST INC ESS 0.05 313673 BBG000CGJMB9 1102
Baker Hughes Company BKR 0.05 283023 BBG00GBVBK51 4491
REGENERON PHARMACEUTICALS REGN 0.05 282174 BBG000C734W3 469
DOORDASH INC CLASS A DASH 0.05 270894 BBG005D7QCJ3 1794
INVITATION HOMES INC REIT USD.01 INVH 0.05 304973 BBG00FQH6BS9 10265
Datadog Inc. Class A DDOG 0.05 319137 BBG003NJHZT9 1402
LUMENTUM HOLDINGS INC LITE 0.05 283282 BBG0073F9RT7 332
Warner Bros Discovery Inc WBD 0.05 300097 BBG011386VF4 11441
Cash & Other Cash&Other 0.04 208281 N/A 208281
XCEL ENERGY INC XEL 0.04 221335 BBG000BCTQ65 2834
Sun Communities Inc SUI 0.04 250494 BBG000BLJWF3 1978
HOST HOTELS & RESORTS INC HST 0.04 250996 BBG000BL8804 10480
Old Dominion Freight Line Inc. ODFL 0.04 218962 BBG000CHSS88 928
EXELON CORP EXC 0.04 219156 BBG000J6XT05 4805
AIRBNB INC ABNB 0.04 243741 BBG001Y2XS07 1888
MID-AMERICA APARTMENT COMM MAA 0.04 260410 BBG000BLMY92 1863
KIMCO REALTY CORP KIM 0.04 255044 BBG000CN3S73 10049
FERROVIAL SE FER 0.04 210840 BBG01H7CZ9S9 3279
AUTODESK INC ADSK 0.04 215748 BBG000BM7HL0 975
DIAMONDBACK ENERGY INC FANG 0.04 254139 BBG002PHSYX9 1293
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 238423 BBG00LBLDDR2 2914
W. P. CAREY REIT INC WPC 0.04 247390 BBG000BCQM58 3262
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 207111 BBG00B6BFWH9 2124
ELECTRONIC ARTS INC EA 0.04 225958 BBG000BP0KQ8 1112
MICROCHIP TECHNOLOGY INC MCHP 0.04 217489 BBG000BHCP19 2474
PAYCHEX INC PAYX 0.03 157817 BBG000BQSQ38 1561
PAYPAL HOLDINGS INC PYPL 0.03 170777 BBG0077VNXV6 4196
ROPER TECHNOLOGIES INC ROP 0.03 155022 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 162475 BBG000BHJWG1 363
ARM HOLDINGS PLC ARM 0.03 189992 BBG01J1GXZF0 618
IDEXX LABS IDXX 0.03 202169 BBG000BLRT07 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 179455 BBG000BC4JJ4 649
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 175734 BBG000BS1YV5 835
KEURIG DR PEPPER INC KDP 0.03 199076 BBG000TJM7F0 6280
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 188951 BBG000B9ZXB4 2119
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 180848 BBG000BFGNJ5 621
MCDONALDS CORP MCD 0.03 182508 BBG000BNSZP1 646
CONSOLIDATED EDISON INC ED 0.03 184749 BBG000BHLYS1 1717
MICROSTRATEGY INC-CL A MSTR 0.03 156530 BBG000GQJPZ0 1357
THOMSON REUTERS CORP TRI 0.03 155314 N/A 1895
KRAFT HEINZ CO/THE KHC 0.02 132443 BBG005CPNTQ2 5507
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 108076 BBG000BBDV81 2086
VERISK ANALYTICS INC VRSK 0.02 120133 BBG000BCZL41 656
Zscaler Inc. ZS 0.02 113380 BBG003338H34 909
WORKDAY INC-CLASS A WDAY 0.02 116162 BBG000VC0T95 845
COPART INC CPRT 0.02 138109 BBG000BM9RH1 4404
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 135490 BBG01BFR8YV1 2125
DEXCOM INC DXCM 0.02 123520 BBG000QTF8K1 1652
INSMED INC INSM 0.02 88204.8 BBG000BWM5P3 960
CHARTER COMMUNICATIONS INC-A CHTR 0.01 81985 BBG000VPGNR2 595

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.