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 12/22/2025
TICKER RAA
NET ASSETS $511M
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 $27.91
30 DAY MEDIAN BID-ASK SPREAD 0.000364

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 N/A N/A N/A N/A
RAA - Market Price N/A N/A N/A N/A
S&P 500 Index Total Return N/A N/A N/A N/A
1 MO 3 MO YTD Since Inception
RAA - NAV 0.21% 3.44% 5.88% 6.54% - - 12.08% 9.50%
RAA - Market Price 0.18% 3.45% 5.89% 6.40% - - 12.11% 9.52%
S&P 500 Index Total Return 0.25% 3.65% 6.34% 8.12% - - 16.12% 13.18%
RAA 2025
NAV N/A
MARKET PRICE N/A
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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 12/22/2025

NET ASSET VALUE

$27.91

CLOSING PRICE

$27.92

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 35
Discount 0 0 5 13 14

Asset Allocation

As of 12/22/2025

Equities

43.78%
Nasdaq
18.95%
US Large Cap
14.98%
Emerging Ex. China
2.96%
Japan
2.86%
Europe
2.03%
US Small Cap
1.01%
Dividend Payers
0.99%

Fixed Income

27.24%
High Yield
6.87%
Corporate Bonds
5.87%
Emerging Mkt Bonds
4.92%
TIPS
3.89%
Long Term Treasuries
2.87%
T-Bills
2.82%

Alternatives

28.98%
Managed Futures
7.04%
Commodities
6.79%
Gold
4.20%
Energy
3.81%
Miners
3.27%
Bitcoin
2.91%
Real Estate
0.96%

Holdings

As of 12/22/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.98 76629400 BBG00RYR67P4 581495
iM DBi Managed Futures Strategy ETF DBMF 7.04 36005800 N/A 1224270
Schwab High Yield Bond ETF SCYB 6.87 35147400 BBG01F80WX71 1332350
INVESCO OPTIMUM YIELD DIVERS PDBC 6.79 34719600 N/A 2616400
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.87 29998000 BBG000PWYVH7 358742
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.92 25184500 BBG000NXKWH0 261494
SPROTT PHYSICAL GOLD TRUS PHYS 4.20 21497500 BBG000Q83F79 634331
SCHWAB U.S. TIPS ETF SCHP 3.89 19868900 BBG000BGN6P5 750904
ISHARES MSCI EMR MRK EX CHNA EMXC 2.96 15158200 BBG00H5VLMJ6 213466
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.91 14904300 N/A 381378
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.87 14700700 BBG00PZFJPC3 463745
Franklin FTSE Japan ETF FLJP 2.86 14604500 BBG00J3MDY16 425166
Franklin FTSE Europe ETF FLEE 2.03 10406300 BBG00J3PR1S7 285417
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 10116900 BBG01922X0X9 202378
NVIDIA CORP NVDA 1.78 9089530 BBG000BBJQV0 49483
APPLE INC AAPL 1.62 8266210 BBG000B9XRY4 30506
MICROSOFT CORP MSFT 1.43 7305320 BBG000BPH459 15065
Broadcom Inc. AVGO 1.04 5324230 BBG00KHY5S69 15593
VANGUARD SMALL-CAP ETF VB 1.01 5167460 BBG000HT3Z79 19570
AMAZON.COM INC AMZN 0.98 5031400 BBG000BVPV84 22026
ISHARES MSCI GLOBAL METALS & PICK 0.80 4111860 BBG002GKR8T5 80530
ALPHABET INC-CL A GOOGL 0.74 3767850 BBG009S39JX6 12163
Tesla Inc. TSLA 0.71 3629310 BBG000N9MNX3 7426
ALPHABET INC-CL C GOOG 0.69 3541070 BBG009S3NB30 11374
META PLATFORMS INC META 0.58 2966170 BBG000MM2P62 4484
Cash & Other Cash&Other 0.52 2682560 N/A 2682560
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.43 2191780 BBG000N7QR55 11299
CHEVRON CORP CVX 0.42 2164310 BBG000K4ND22 14448
SCHLUMBERGER LTD SLB 0.42 2159860 BBG000BT41Q8 56349
EXXON MOBIL CORP XOM 0.41 2071520 BBG000GZQ728 17533
BHP GROUP LTD BHP 0.41 2075230 BBG000BD5NZ4 34149
NETFLIX INC NFLX 0.39 1971350 BBG000CL9VN6 21145
WILLIAMS COMPANIES INC. WMB 0.39 1973940 BBG000BWVCP8 33502
CANADIAN NATURAL RESOURCES CNQ 0.38 1956930 BBG000HW5GX3 60530
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.38 1949500 BBG000BRK7L6 45390
OCCIDENTAL PETROLEUM CORP OXY 0.38 1955670 BBG000BQQ2S6 48564
COSTCO WHOLESALE CORP COST 0.37 1887000 BBG000F6H8W8 2220
EQT CORP EQT 0.36 1835100 BBG000BHZ5J9 34301
Cheniere Energy Inc LNG 0.36 1857720 BBG000C3HSR0 9810
ISHARES MSCI GLOBAL GOLD MIN RING 0.36 1863310 BBG002GKR6T9 24052
MARATHON PETROLEUM CORP MPC 0.34 1726790 BBG001DCCGR8 10480
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.34 1726830 BBG00CMNZNK7 1726830
ADVANCED MICRO DEVICES INC AMD 0.33 1702830 BBG000BBQCY0 7922
NEWMONT GOLDCORP CORPORATION COM NEM 0.32 1643360 BBG000BPWXK1 15669
CISCO SYSTEMS INC CSCO 0.31 1574150 BBG000C3J3C9 20153
MICRON TECHNOLOGY INC MU 0.30 1532310 BBG000C5Z1S3 5540
AGNICO EAGLE MINES LTD AEM 0.25 1263250 BBG000DLVDK3 7013
RIO TINTO PLC-SPON ADR RIO 0.24 1232260 BBG000FD28T3 15384
LAM RESH CORP LRCX 0.22 1107120 BBG000BNFLM9 6317
T-MOBILE US INC TMUS 0.22 1121310 BBG000NDV1D4 5728
INTUITIVE SURGICAL INC ISRG 0.21 1065730 BBG000BJPDZ1 1838
APPLOVIN CORP APP 0.21 1087200 BBG006HFPX77 1482
Barrick Mining Corp. B 0.21 1079710 N/A 23683
PEPSICO INC PEP 0.20 1012730 BBG000DH7JK6 6887
SHOPIFY INC - CLASS A SHOP 0.20 1041770 BBG008HBD923 6140
APPLIED MATERIALS INC AMAT 0.20 1018690 BBG000BBPFB9 3933
LINDE PLC LIN 0.20 1007530 BBG01FND0CC1 2379
INTUIT INC INTU 0.19 983774 BBG000BH5DV1 1457
FREEPORT-MCMORAN INC FCX 0.19 968287 BBG000BJDB15 19121
QUALCOMM INC QCOM 0.18 944272 BBG000CGC1X8 5420
AMGEN INC AMGN 0.18 905026 BBG000BBS2Y0 2731
BOOKING HOLDINGS INC BKNG 0.17 886746 BBG000BLBVN4 164
TEXAS INSTRUMENTS INC TXN 0.16 806299 BBG000BVV7G1 4509
KLA CORPORATION KLAC 0.16 836601 BBG000BMTFR4 661
AUTOMATIC DATA PROCESSING ADP 0.16 794285 BBG000JG0547 3058
INTEL CORP INTC 0.15 786756 BBG000C0G1D1 21632
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.15 750858 BBG000PVRDL2 6144
GILEAD SCIENCES INC GILD 0.15 776869 BBG000CKGBP2 6257
ADOBE SYSTEMS INC ADBE 0.15 778343 BBG000BB5006 2177
PALO ALTO NETWORKS INC PANW 0.13 643887 BBG0014GJCT9 3398
GLENCORE PLC -UNSP ADR GLNCY 0.13 688467 BBG001VKX1Z1 65819
WELLTOWER INC WELL 0.13 685876 BBG000BKY1G5 3679
PROLOGIS INC PLD 0.13 650199 BBG000B9Z0J8 5096
ANALOG DEVICES INC ADI 0.13 675207 BBG000BB6G37 2448
HONEYWELL INTERNATIONAL INC HON 0.12 638242 BBG000H556T9 3257
VERTEX PHARMACEUTICALS INC VRTX 0.12 592419 BBG000C1S2X2 1287
Crowdstrike Holdings Inc. Class A CRWD 0.12 625183 BBG00BLYKS03 1294
CONSTELLATION ENERGY CORPORATION CEG 0.11 556037 BBG014KFRNP7 1554
COMCAST CORP-CLASS A CMCSA 0.11 551405 BBG000BFT2L4 18845
Anglo American PLC NGLOD 0.11 573703 N/A 29466
REALTY INCOME CORP O 0.10 511560 BBG000DHPN63 9027
FRANCO-NEVADA CORP FNV 0.10 524302 BBG000RD3CL8 2441
STARBUCKS CORP SBUX 0.10 496167 BBG000CTQBF3 5758
FASTENAL CO FAST 0.10 487431 BBG000BJ8YN7 11675
MERCADOLIBRE INC MELI 0.10 512368 BBG000GQPB11 257
Marriott International, Inc Class A MAR 0.09 435485 BBG000BGD7W6 1388
CADENCE DESIGN SYS INC CDNS 0.09 436659 BBG000C13CD9 1375
DOORDASH INC CLASS A DASH 0.09 483638 BBG005D7QCJ3 2059
SYNOPSYS INC SNPS 0.09 437928 BBG000BSFRF3 909.999
REGENERON PHARMACEUTICALS REGN 0.08 406047 BBG000C734W3 521
MONSTER BEVERAGE CORP MNST 0.08 387368 BBG008NVB1C0 4988
CINTAS CORP CTAS 0.08 387820 BBG000H3YXF8 2020
EQUINIX INC EQIX 0.08 402456 BBG000MBDGM6 531
ASML HOLDING NV-NY REG SHS ASML 0.08 431248 BBG000K6MRN4 408
OREILLY AUTOMOTIVE INC ORLY 0.08 389387 BBG000BGYWY6 4244
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 356382 BBG000D4LWF6 6562
Warner Bros Discovery Inc WBD 0.07 351785 BBG011386VF4 12236
SIMON PROPERTY GROUP INC SPG 0.07 354281 BBG000BJ2D31 1898
CSX CORP CSX 0.07 338945 BBG000BGJRC8 9276
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 369863 BBG00LBLDDR2 3305
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 347341 BBG00ZXBJ153 4096
PAYPAL HOLDINGS INC PYPL 0.06 287867 BBG0077VNXV6 4809
PACCAR INC PCAR 0.06 297367 BBG000BQVTF5 2636
PUBLIC STORAGE PSA 0.06 287812 BBG000BPPN67 1101
AMERICAN ELECTRIC POWER AEP 0.06 312798 BBG000BB9KF2 2729
AIRBNB INC ABNB 0.06 301564 BBG001Y2XS07 2202
IDEXX LABS IDXX 0.06 284359 BBG000BLRT07 405
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 307363 N/A 2311
AUTODESK INC ADSK 0.06 313991 BBG000BM7HL0 1045
DIGITAL REALTY TRUST INC DLR 0.06 291669 BBG000Q5ZRM7 1900
FORTINET INC FTNT 0.06 323936 BBG000BCMBG4 3963
ROSS STORES INC ROST 0.06 303542 BBG000BSBZH7 1680
Ventas Inc. VTR 0.05 250288 BBG000FRVHB9 3161
ROPER TECHNOLOGIES INC ROP 0.05 237204 BBG000F1ZSN5 528
KENVUE INC KVUE 0.05 248924 BBG01C79X561 14634
Kimberly-Clark Corp KMB 0.05 233186 BBG000BMW2Z0 2337
PPG INDUSTRIES INC PPG 0.05 234753 BBG000BRJ809 2271
HORMEL FOODS CORP HRL 0.05 263173 BBG000BLF8D2 10911
ILLINOIS TOOL WORKS ITW 0.05 254086 BBG000BMBL90 1010
AXON ENTERPRISE INC AXON 0.05 237075 BBG000BHJWG1 395
AMCOR PLC AMCR 0.05 244483 BBG00LNJRQ09 29385
TARGET CORP TGT 0.05 268178 BBG000H8TVT2 2817
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 236151 BBG000BS1YV5 950
FRANKLIN RESOURCES INC BEN 0.05 275826 BBG000BD0TF8 11217
NXP Semiconductors NV NXPI 0.05 279078 BBG000BND699 1219
T ROWE PRICE GROUP INC TROW 0.05 259275 BBG000BVMPN3 2474
ABBVIE INC ABBV 0.05 252980 BBG0025Y4RY4 1110
EVERSOURCE ENERGY ES 0.05 230678 BBG000BQ87N0 3493
WORKDAY INC-CLASS A WDAY 0.05 265076 BBG000VC0T95 1216
ASTRAZENECA PLC-SPONS ADR AZN 0.05 272087 BBG000BZ0DK8 2972
STANLEY BLACK & DECKER INC SWK 0.05 263942 BBG000BTQR96 3508
ELECTRONIC ARTS INC EA 0.05 259628 BBG000BP0KQ8 1274
XCEL ENERGY INC XEL 0.04 215864 BBG000BCTQ65 2923
PAYCHEX INC PAYX 0.04 218042 BBG000BQSQ38 1898
EXELON CORP EXC 0.04 223455 BBG000J6XT05 5131
GENUINE PARTS CO GPC 0.04 228847 BBG000BKL348 1828
Baker Hughes Company BKR 0.04 224884 BBG00GBVBK51 4936
AVALONBAY COMMUNITIES INC AVB 0.04 201685 BBG000BLPBL5 1105
MICROSTRATEGY INC-CL A MSTR 0.04 212959 BBG000GQJPZ0 1296
MEDTRONIC PLC MDT 0.04 229912 BBG000BNWG87 2353
Zscaler Inc. ZS 0.04 211862 BBG003338H34 913
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 212258 BBG000BBDV81 2491
EXTRA SPACE STORAGE INC EXR 0.04 198101 BBG000PV27K3 1515
KEURIG DR PEPPER INC KDP 0.04 186836 BBG000TJM7F0 6616
COPART INC CPRT 0.04 194950 BBG000BM9RH1 4953
VICI PROPERTIES INC REIT VICI 0.04 194964 BBG00HVVB499 6998
DIAMONDBACK ENERGY INC FANG 0.04 209774 BBG002PHSYX9 1413
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 190880 BBG01BFR8YV1 2274
Datadog Inc. Class A DDOG 0.04 229781 BBG003NJHZT9 1620
International Business Machines Corporation IBM 0.04 204686 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 212618 BBG00B6BFWH9 2327
MICROCHIP TECHNOLOGY INC MCHP 0.03 177060 BBG000BHCP19 2673
KRAFT HEINZ CO/THE KHC 0.03 143016 BBG005CPNTQ2 5922
Old Dominion Freight Line Inc. ODFL 0.03 166309 BBG000CHSS88 1044
VERISK ANALYTICS INC VRSK 0.03 147695 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 140440 BBG01BGWHFR5 854
COSTAR GROUP INC CSGP 0.03 137929 BBG000D7JKW9 2071
CHARTER COMMUNICATIONS INC-A CHTR 0.03 139682 BBG000VPGNR2 678
EQUITY RESIDENTIAL EQR 0.03 152735 BBG000BG8M31 2452
IRON MOUNTAIN INC IRM 0.03 142190 BBG000KCZPC3 1755
BIOGEN INC BIIB 0.03 130501 BBG000C17X76 747
DEXCOM INC DXCM 0.03 135399 BBG000QTF8K1 2008
AFLAC INC AFL 0.03 144496 BBG000BBBNC6 1313
Sun Communities Inc SUI 0.02 96088.2 BBG000BLJWF3 780
GLOBALFOUNDRIES INC GFS 0.02 99098.8 BBG000C2L5G9 2721
ESSEX PROPERTY TRUST INC ESS 0.02 99380 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 108738 BBG000DV7MX4 1929
MID-AMERICA APARTMENT COMM MAA 0.02 101827 BBG000BLMY92 745
LULULEMON ATHLETICA INC LULU 0.02 123175 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 91654.8 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 114926 BBG000BFS7D3 1172
KIMCO REALTY CORP KIM 0.02 97706.3 BBG000CN3S73 4878
Omega Healthcare Investors Inc OHI 0.02 95462.3 BBG000BGBTC2 2189
TRADE DESK INC/THE -CLASS A TTD 0.02 82038 BBG00629NGT2 2200
INVITATION HOMES INC REIT USD.01 INVH 0.02 96992.5 BBG00FQH6BS9 3587
W. P. CAREY REIT INC WPC 0.02 96243.5 BBG000BCQM58 1494
AO Smith Corp AOS 0.01 51967.9 BBG000BC1L02 763
AIR PRODUCTS & CHEMICALS INC APD 0.01 47242.5 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 49580.7 BBG000BHLYS1 503
ARM HOLDINGS PLC ARM 0.01 72279 BBG01J1GXZF0 638
JOHNSON & JOHNSON JNJ 0.01 50171.4 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 50911.4 BBG000BNSZP1 161
Solstice Advanced Materials Inc. SOLSV 0.00 7282.84 BBG01X5744P5 145.25

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.