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 05/26/2026
TICKER RAA
NET ASSETS $598M
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 $30.29
30 DAY MEDIAN BID-ASK SPREAD 0.00067

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 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 05/26/2026

NET ASSET VALUE

$30.29

CLOSING PRICE

$30.30

PREMIUM/DISCOUNT

0.02%
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 23
Discount 5 13 16 8 8

Asset Allocation

As of 5/26/2026

Equities

47.19%
Nasdaq
18.85%
US Large Cap
14.26%
US Small Cap
4.00%
Dividend Payers
3.91%
Emerging Ex. China
2.15%
Japan
2.03%
Europe
1.99%

Fixed Income

26.20%
Long Term Treasuries
6.74%
High Yield
5.83%
Corporate Bonds
5.82%
Emerging Mkt Bonds
3.89%
TIPS
2.87%
T-Bills
1.05%

Alternatives

26.61%
Miners
7.12%
Managed Futures
5.96%
Gold
4.73%
Commodities
3.75%
Bitcoin
2.11%
Energy
1.97%
Real Estate
0.97%

Holdings

As of 05/26/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.26 85182700 BBG00RYR67P4 592287
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.74 40275800 BBG00PZFJPC3 1303420
SCHWAB HIGH YIELD BOND ETF SCYB 5.83 34839500 BBG01F80WX71 1327720
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.82 34765400 BBG000PWYVH7 421194
iM DBi Managed Futures Strategy ETF DBMF 5.17 30904600 N/A 991485
SPROTT PHYSICAL GOLD TRUS PHYS 4.73 28254300 BBG000Q83F79 828085
VANGUARD SMALL-CAP ETF VB 4.00 23918200 BBG000HT3Z79 81660
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.89 23224800 BBG000NXKWH0 242836
INVESCO OPTIMUM YIELD DIVERS PDBC 3.75 22405600 N/A 1251010
SCHWAB U.S. TIPS ETF SCHP 2.87 17163400 BBG000BGN6P5 642344
ISHARES MSCI EMR MRK EX CHNA EMXC 2.15 12821200 BBG00H5VLMJ6 128225
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.11 12588500 N/A 375105
Franklin FTSE Japan ETF FLJP 2.03 12125700 BBG00J3MDY16 304896
Franklin FTSE Europe ETF FLEE 1.99 11896300 BBG00J3PR1S7 302588
NVIDIA CORP NVDA 1.69 10115800 BBG000BBJQV0 47081
BHP GROUP LTD BHP 1.42 8477400 BBG000BD5NZ4 98016
APPLE INC AAPL 1.39 8280820 BBG000B9XRY4 26857
MICROSOFT CORP MSFT 1.01 6050320 BBG000BPH459 14543
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.97 5782990 BBG01922X0X9 115706
AMAZON.COM INC AMZN 0.89 5340020 BBG000BVPV84 20129
NEWMONT GOLDCORP CORPORATION COM NEM 0.89 5298810 BBG000BPWXK1 47587
MICRON TECHNOLOGY INC MU 0.87 5204170 BBG000C5Z1S3 5809
RIO TINTO PLC-SPON ADR RIO 0.83 4955280 BBG000FD28T3 46337
Simplify DBi CTA Managed Futures Index ETF SDMF 0.79 4734330 BBG020BR8WR7 182620
AGNICO EAGLE MINES LTD AEM 0.73 4335120 BBG000DLVDK3 24008
FREEPORT-MCMORAN INC FCX 0.69 4139060 BBG000BJDB15 64311
ADVANCED MICRO DEVICES INC AMD 0.68 4049760 BBG000BBQCY0 8037
Tesla Inc. TSLA 0.66 3956080 BBG000N9MNX3 9124
ALPHABET INC-CL A GOOGL 0.65 3881800 BBG009S39JX6 9982
META PLATFORMS INC META 0.61 3666690 BBG000MM2P62 5988
Broadcom Inc. AVGO 0.61 3635190 BBG00KHY5S69 8614
ALPHABET INC-CL C GOOG 0.60 3594410 BBG009S3NB30 9340
GLENCORE PLC -UNSP ADR GLNCY 0.55 3302420 BBG001VKX1Z1 210345
Barrick Mining Corp. B 0.54 3256270 N/A 77346
INTEL CORP INTC 0.53 3188300 BBG000C0G1D1 25812
WAL-MART STORES INC WMT 0.48 2875200 BBG000BWXBC2 24249
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.45 2679110 BBG000PVRDL2 20592
CISCO SYSTEMS INC CSCO 0.39 2346600 BBG000C3J3C9 19831
COSTCO WHOLESALE CORP COST 0.38 2242550 BBG000F6H8W8 2236
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.38 2283620 N/A 85178
FRANCO-NEVADA CORP FNV 0.35 2072110 BBG000RD3CL8 9041
LAM RESH CORP LRCX 0.33 1992230 BBG000BNFLM9 6174
CHEVRON CORP CVX 0.31 1832140 BBG000K4ND22 9919
NETFLIX INC NFLX 0.31 1872230 BBG000CL9VN6 21353
APPLIED MATERIALS INC AMAT 0.30 1802730 BBG000BBPFB9 3963
VALE SA-SP ADR VALE 0.29 1761440 BBG000BN5LG7 106754
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.27 1595210 BBG000N7QR55 11678
AUTOMATIC DATA PROCESSING ADP 0.27 1642430 BBG000JG0547 7522
TEXAS INSTRUMENTS INC TXN 0.24 1455510 BBG000BVV7G1 4480
REALTY INCOME CORP O 0.23 1395510 BBG000DHPN63 22346
KLA CORPORATION KLAC 0.23 1399930 BBG000BMTFR4 696
Kimberly-Clark Corp KMB 0.20 1171120 BBG000BMW2Z0 11857
SCHLUMBERGER LTD SLB 0.20 1182680 BBG000BT41Q8 20398
QUALCOMM INC QCOM 0.20 1172690 BBG000CGC1X8 4713
FRANKLIN RESOURCES INC BEN 0.20 1218880 BBG000BD0TF8 38487
LINDE PLC LIN 0.20 1220480 BBG01FND0CC1 2370
T ROWE PRICE GROUP INC TROW 0.20 1184070 BBG000BVMPN3 11405
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1190740 N/A 30571
CANADIAN NATURAL RESOURCES CNQ 0.19 1135530 BBG000HW5GX3 24248
KENVUE INC KVUE 0.19 1160460 BBG01C79X561 66350
HORMEL FOODS CORP HRL 0.19 1134290 BBG000BLF8D2 54298
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.19 1115310 BBG000BRK7L6 17012
MEDTRONIC PLC MDT 0.19 1115500 BBG000BNWG87 14375
PPG INDUSTRIES INC PPG 0.19 1149070 BBG000BRJ809 10490
WILLIAMS COMPANIES INC. WMB 0.19 1158840 BBG000BWVCP8 15180
CLOROX COMPANY CLX 0.19 1154280 BBG000BFS7D3 11995
EVERSOURCE ENERGY ES 0.19 1152280 BBG000BQ87N0 16532
STANLEY BLACK & DECKER INC SWK 0.19 1164610 BBG000BTQR96 14755
ILLINOIS TOOL WORKS ITW 0.19 1125840 BBG000BMBL90 4496
MARATHON PETROLEUM CORP MPC 0.19 1157650 BBG001DCCGR8 4667
SANDISK CORP/DE SNDKV SNDK 0.19 1149240 BBG01R388JG1 723
EXXON MOBIL CORP XOM 0.19 1113840 BBG000GZQ728 7435
OCCIDENTAL PETROLEUM CORP OXY 0.18 1098520 BBG000BQQ2S6 19118
EQT CORP EQT 0.18 1076140 BBG000BHZ5J9 19145
PALO ALTO NETWORKS INC PANW 0.18 1095040 BBG0014GJCT9 4265
ABBVIE INC ABBV 0.18 1088190 BBG0025Y4RY4 5106
T-MOBILE US INC TMUS 0.18 1081680 BBG000NDV1D4 5660
PEPSICO INC PEP 0.17 996451 BBG000DH7JK6 6840
ANALOG DEVICES INC ADI 0.17 1016670 BBG000BB6G37 2421
AO Smith Corp AOS 0.16 939521 BBG000BC1L02 16107
Cheniere Energy Inc LNG 0.16 985116 BBG000C3HSR0 4209
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.16 930336 BBG0113JGQF0 1100
GENUINE PARTS CO GPC 0.15 879273 BBG000BKL348 9060
AMGEN INC AMGN 0.15 889905 BBG000BBS2Y0 2649
International Business Machines Corporation IBM 0.15 901481 BBG000BLNNH6 3596
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 883439 BBG00ZXBJ153 4242
Crowdstrike Holdings Inc. Class A CRWD 0.15 879730 BBG00BLYKS03 1310
WESTERN DIGITAL CORP WDC 0.14 857278 BBG000BWNFZ9 1634
J M Smucker Co COM STK NPV SJM 0.14 861125 BBG000BT1715 8416
GILEAD SCIENCES INC GILD 0.14 832202 BBG000CKGBP2 6223
APPLOVIN CORP APP 0.14 825355 BBG006HFPX77 1605
INTUITIVE SURGICAL INC ISRG 0.13 786825 BBG000BJPDZ1 1802
WELLTOWER INC WELL 0.13 758220 BBG000BKY1G5 3476
HONEYWELL INTERNATIONAL INC HON 0.12 744748 BBG000H556T9 3214
PROLOGIS INC PLD 0.12 720594 BBG000B9Z0J8 4904
ASML HOLDING NV-NY REG SHS ASML 0.12 703405 BBG000K6MRN4 431
SHOPIFY INC - CLASS A SHOP 0.11 665276 BBG008HBD923 6342
BOOKING HOLDINGS INC BKNG 0.11 686023 BBG000BLBVN4 4201
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 614112 BBG000BBTJZ1 2753
STARBUCKS CORP SBUX 0.10 592698 BBG000CTQBF3 5844
CADENCE DESIGN SYS INC CDNS 0.09 546284 BBG000C13CD9 1431
EQUINIX INC EQIX 0.09 519418 BBG000MBDGM6 482
CONSTELLATION ENERGY CORPORATION CEG 0.09 530763 BBG014KFRNP7 1760
VERTEX PHARMACEUTICALS INC VRTX 0.09 554503 BBG000C1S2X2 1272
FORTINET INC FTNT 0.09 512531 BBG000BCMBG4 3826
SYNOPSYS INC SNPS 0.09 520127 BBG000BSFRF3 973
FASTENAL CO FAST 0.08 491528 BBG000BJ8YN7 11058
COMCAST CORP-CLASS A CMCSA 0.08 459314 BBG000BFT2L4 18263
ADOBE SYSTEMS INC ADBE 0.08 504788 BBG000BB5006 2099
Marriott International, Inc Class A MAR 0.08 494551 BBG000BGD7W6 1323
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 392120 BBG000D4LWF6 6403
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 402441 BBG000C30L48 242
NXP Semiconductors NV NXPI 0.07 434800 BBG000BND699 1307
DIGITAL REALTY TRUST INC DLR 0.07 392569 BBG000Q5ZRM7 2027
MONSTER BEVERAGE CORP MNST 0.07 438761 BBG008NVB1C0 5019
MERCADOLIBRE INC MELI 0.07 416954 BBG000GQPB11 253
INTUIT INC INTU 0.07 440699 BBG000BH5DV1 1448
CSX CORP CSX 0.07 442515 BBG000BGJRC8 9494
SIMON PROPERTY GROUP INC SPG 0.07 412845 BBG000BJ2D31 1995
Datadog Inc. Class A DDOG 0.07 389151 BBG003NJHZT9 1740
PUBLIC STORAGE PSA 0.06 351358 BBG000BPPN67 1154
Warner Bros Discovery Inc WBD 0.06 339525 BBG011386VF4 12575
ROSS STORES INC ROST 0.06 387457 BBG000BSBZH7 1651
CINTAS CORP CTAS 0.06 345944 BBG000H3YXF8 2022
OREILLY AUTOMOTIVE INC ORLY 0.06 360199 BBG000BGYWY6 4008
AMERICAN ELECTRIC POWER AEP 0.06 360760 BBG000BB9KF2 2756
PACCAR INC PCAR 0.05 292906 BBG000BQVTF5 2615
Ventas Inc. VTR 0.05 291444 BBG000FRVHB9 3298
Baker Hughes Company BKR 0.05 327644 BBG00GBVBK51 4910
REGENERON PHARMACEUTICALS REGN 0.05 324291 BBG000C734W3 511
AIRBNB INC ABNB 0.05 282608 BBG001Y2XS07 2130
DOORDASH INC CLASS A DASH 0.05 318318 BBG005D7QCJ3 2067
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 274801 BBG00CMNZNK7 274801
DIAMONDBACK ENERGY INC FANG 0.05 271816 BBG002PHSYX9 1393
CONSOLIDATED EDISON INC ED 0.05 293806 BBG000BHLYS1 2728
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.05 322681 BBG00LBLDDR2 3339
XCEL ENERGY INC XEL 0.04 244844 BBG000BCTQ65 3031
MICROCHIP TECHNOLOGY INC MCHP 0.04 264637 BBG000BHCP19 2699
Old Dominion Freight Line Inc. ODFL 0.04 224841 BBG000CHSS88 1038
IDEXX LABS IDXX 0.04 227899 BBG000BLRT07 409
AIR PRODUCTS & CHEMICALS INC APD 0.04 224440 BBG000BC4JJ4 775
EXELON CORP EXC 0.04 242532 BBG000J6XT05 5269
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 215595 BBG000BS1YV5 977
VICI PROPERTIES INC REIT VICI 0.04 230677 BBG00HVVB499 8060
FERROVIAL SE FER 0.04 250742 BBG01H7CZ9S9 3613
EXTRA SPACE STORAGE INC EXR 0.04 234992 BBG000PV27K3 1632
MCDONALDS CORP MCD 0.04 220336 BBG000BNSZP1 789
AUTODESK INC ADSK 0.04 262529 BBG000BM7HL0 1102
AVALONBAY COMMUNITIES INC AVB 0.04 232473 BBG000BLPBL5 1256
MICROSTRATEGY INC-CL A MSTR 0.04 241334 BBG000GQJPZ0 1509
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 215871 BBG00B6BFWH9 2311
ELECTRONIC ARTS INC EA 0.04 257404 BBG000BP0KQ8 1281
PAYCHEX INC PAYX 0.03 181732 BBG000BQSQ38 1917
PAYPAL HOLDINGS INC PYPL 0.03 208612 BBG0077VNXV6 4724
ROPER TECHNOLOGIES INC ROP 0.03 165275 BBG000F1ZSN5 516
AXON ENTERPRISE INC AXON 0.03 161826 BBG000BHJWG1 420
IRON MOUNTAIN INC IRM 0.03 178733 BBG000KCZPC3 1392
EQUITY RESIDENTIAL EQR 0.03 174782 BBG000BG8M31 2643
Zscaler Inc. ZS 0.03 163186 BBG003338H34 884
KEURIG DR PEPPER INC KDP 0.03 198044 BBG000TJM7F0 6702
COPART INC CPRT 0.03 167596 BBG000BM9RH1 5042
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 192370 BBG000BFGNJ5 651
THOMSON REUTERS CORP TRI 0.03 179468 N/A 2143.67
INSMED INC INSM 0.02 115293 BBG000BWM5P3 1059
Sun Communities Inc SUI 0.02 112508 BBG000BLJWF3 901
KRAFT HEINZ CO/THE KHC 0.02 140238 BBG005CPNTQ2 5880
Omega Healthcare Investors Inc OHI 0.02 119061 BBG000BGBTC2 2463
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 131235 BBG000BBDV81 2533
ESSEX PROPERTY TRUST INC ESS 0.02 121713 BBG000CGJMB9 439
MID-AMERICA APARTMENT COMM MAA 0.02 117878 BBG000BLMY92 903
CHARTER COMMUNICATIONS INC-A CHTR 0.02 92160 BBG000VPGNR2 640
VERISK ANALYTICS INC VRSK 0.02 122344 BBG000BCZL41 713
KIMCO REALTY CORP KIM 0.02 120442 BBG000CN3S73 4908
INVITATION HOMES INC REIT USD.01 INVH 0.02 116218 BBG00FQH6BS9 3953
WORKDAY INC-CLASS A WDAY 0.02 135926 BBG000VC0T95 1096
DEXCOM INC DXCM 0.02 141212 BBG000QTF8K1 1961
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 142159 BBG01BFR8YV1 2215
W. P. CAREY REIT INC WPC 0.02 118760 BBG000BCQM58 1586
Cash & Other Cash&Other -0.02 -99871.1 N/A -99871.1

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.