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 10/05/2026
TICKER RAA
NET ASSETS $613M
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 $30.22
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 10/05/2026

NET ASSET VALUE

$30.22

CLOSING PRICE

$30.22

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 1
Discount 16 8 14 21 2

Asset Allocation

As of 10/5/2026

Equities

42.39%
Nasdaq
18.25%
US Large Cap
15.02%
US Small Cap
3.02%
Dividend Payers
2.07%
Emerging Ex. China
2.05%
Japan
1.00%
Europe
0.98%

Fixed Income

28.79%
Long Term Treasuries
7.87%
Corporate Bonds
5.92%
High Yield
5.91%
Emerging Mkt Bonds
3.93%
TIPS
2.97%
T-Bills
2.19%

Alternatives

28.82%
Commodities
9.82%
Energy
5.05%
Managed Futures
5.02%
Miners
3.97%
Real Estate
1.98%
Gold
1.97%
Bitcoin
1.01%

Holdings

As of 10/05/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.02 92038300 BBG00RYR67P4 1856360
INVESCO OPTIMUM YIELD DIVERS PDBC 9.82 60163500 N/A 3125380
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 7.87 48225900 BBG00PZFJPC3 1709530
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.92 36265300 BBG000PWYVH7 464999
SCHWAB HIGH YIELD BOND ETF SCYB 5.91 36180700 BBG01F80WX71 1442040
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.93 24100700 BBG000NXKWH0 266778
iM DBi Managed Futures Strategy ETF DBMF 3.55 21744800 N/A 656347
Vanguard Morningstar Small-Cap ETF VB 3.02 18521000 BBG000HT3Z79 63657
SCHWAB U.S. TIPS ETF SCHP 2.97 18175000 BBG000BGN6P5 724681
ISHARES MSCI EMR MRK EX CHNA EMXC 2.05 12584500 BBG00H5VLMJ6 122477
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.98 12146500 BBG01922X0X9 243514
SPROTT PHYSICAL GOLD TRUS PHYS 1.97 12098000 BBG000Q83F79 387757
NVIDIA CORP NVDA 1.54 9439660 BBG000BBJQV0 39513
Simplify DBi CTA Managed Futures Index ETF SDMF 1.47 9013650 BBG020BR8WR7 326937
APPLE INC AAPL 1.29 7878170 BBG000B9XRY4 23666
MICROSOFT CORP MSFT 1.04 6363610 BBG000BPH459 12117
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.01 6181720 N/A 163106
Franklin FTSE Japan ETF FLJP 1.00 6141930 BBG00J3MDY16 145716
Franklin FTSE Europe ETF FLEE 0.98 6028690 BBG00J3PR1S7 160233
MICRON TECHNOLOGY INC MU 0.89 5483650 BBG000C5Z1S3 5154
BHP GROUP LTD BHP 0.86 5274840 BBG000BD5NZ4 60749
ADVANCED MICRO DEVICES INC AMD 0.77 4689480 BBG000BBQCY0 7423
AMAZON.COM INC AMZN 0.72 4430670 BBG000BVPV84 17624
META PLATFORMS INC META 0.60 3688730 BBG000MM2P62 4972
CHEVRON CORP CVX 0.56 3432560 BBG000K4ND22 16625
SPACE EXPLORATION TECH CORP A SPCX 0.55 3340020 BBG000NQF3Z5 19522
Tesla Inc. TSLA 0.54 3282830 BBG000N9MNX3 8668
MARATHON PETROLEUM CORP MPC 0.54 3300440 BBG001DCCGR8 7614
ALPHABET INC-CL A GOOGL 0.54 3280030 BBG009S39JX6 9467
OCCIDENTAL PETROLEUM CORP OXY 0.52 3209910 BBG000BQQ2S6 55049
EQT CORP EQT 0.52 3166630 BBG000BHZ5J9 61945
WILLIAMS COMPANIES INC. WMB 0.52 3174770 BBG000BWVCP8 44835
SCHLUMBERGER LTD SLB 0.51 3106700 BBG000BT41Q8 61788
Cheniere Energy Inc LNG 0.51 3119630 BBG000C3HSR0 11347
CANADIAN NATURAL RESOURCES CNQ 0.50 3070540 BBG000HW5GX3 63559
Suncor Energy Inc. SU 0.50 3041490 BBG000BC1LY5 44227
ALPHABET INC-CL C GOOG 0.50 3065590 BBG009S3NB30 8916
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.50 3046460 BBG023CY9MM1 18576
Broadcom Inc. AVGO 0.48 2946480 BBG00KHY5S69 8128
NEWMONT GOLDCORP CORPORATION COM NEM 0.47 2907310 BBG000BPWXK1 25102
INTEL CORP INTC 0.44 2694210 BBG000C0G1D1 23188
WAL-MART STORES INC WMT 0.39 2415980 BBG000BWXBC2 22994
FREEPORT-MCMORAN INC FCX 0.39 2411990 BBG000BJDB15 33223
RIO TINTO PLC-SPON ADR RIO 0.39 2377860 BBG000FD28T3 24860
AGNICO EAGLE MINES LTD AEM 0.35 2172090 BBG000DLVDK3 11848
CISCO SYSTEMS INC CSCO 0.33 2011470 BBG000C3J3C9 17829
APPLIED MATERIALS INC AMAT 0.32 1988540 BBG000BBPFB9 3667
COSTCO WHOLESALE CORP COST 0.32 1951400 BBG000F6H8W8 2113
LAM RESH CORP LRCX 0.32 1972790 BBG000BNFLM9 5705
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.32 1964080 BBG000N7QR55 10370
WELLTOWER INC WELL 0.27 1634570 BBG000BKY1G5 7292
GLENCORE PLC -UNSP ADR GLNCY 0.26 1620750 BBG001VKX1Z1 107548
Barrick Mining Corp. B 0.25 1550920 N/A 38773
PALO ALTO NETWORKS INC PANW 0.24 1464340 BBG0014GJCT9 3600
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1414890 BBG000PVRDL2 10383
PROLOGIS INC PLD 0.22 1326650 BBG000B9Z0J8 10358
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.22 1376310 N/A 49740
NUCOR CORP NUE 0.21 1283950 BBG000BQ8KV2 5107
TEXAS INSTRUMENTS INC TXN 0.21 1272790 BBG000BVV7G1 4316
NETFLIX INC NFLX 0.21 1292490 BBG000CL9VN6 19148
KLA CORPORATION KLAC 0.21 1296540 BBG000BMTFR4 6268
REALTY INCOME CORP O 0.20 1197780 BBG000DHPN63 22276
Crowdstrike Holdings Inc. Class A CRWD 0.20 1254010 BBG00BLYKS03 4599
EQUINIX INC EQIX 0.19 1166720 BBG000MBDGM6 1140
PEPSICO INC PEP 0.19 1142160 BBG000DH7JK6 9090
Cash & Other Cash&Other 0.18 1081860 N/A 1081860
SANDISK CORP/DE SNDKV SNDK 0.18 1100890 BBG01R388JG1 646
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1082020 BBG00ZXBJ153 3989
AUTOMATIC DATA PROCESSING ADP 0.18 1075650 BBG000JG0547 4133
FRANCO-NEVADA CORP FNV 0.17 1050040 BBG000TRN6Z1 4361
AMGEN INC AMGN 0.17 1037270 BBG000BBS2Y0 2574
LINDE PLC LIN 0.17 1059790 BBG01FND0CC1 2197
VALE SA-SP ADR VALE 0.17 1027810 BBG000BN5LG7 72637
ANALOG DEVICES INC ADI 0.16 964349 BBG000BB6G37 2301
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 945638 BBG0113JGQF0 1066
QUALCOMM INC QCOM 0.14 876108 BBG000CGC1X8 4846
GILEAD SCIENCES INC GILD 0.14 853896 BBG000CKGBP2 5904
SHOPIFY INC - CLASS A SHOP 0.14 870678 BBG004DW5NB8 5438
T-MOBILE US INC TMUS 0.14 857116 BBG000NDV1D4 5206
DIGITAL REALTY TRUST INC DLR 0.13 822006 BBG000Q5ZRM7 4570
SIMON PROPERTY GROUP INC SPG 0.13 827150 BBG000BJ2D31 4107
ASML HOLDING NV-NY REG SHS ASML 0.13 771842 BBG000K6MRN4 415
WESTERN DIGITAL CORP WDC 0.12 743722 BBG000BWNFZ9 1684
PUBLIC STORAGE PSA 0.12 734288 BBG000BPPN67 2607
Vivmark Residential VMRK 0.12 711946 BBG000BG8M31 11848
INTUITIVE SURGICAL INC ISRG 0.11 686545 BBG000BJPDZ1 1689
Ventas Inc. VTR 0.11 692048 BBG000FRVHB9 8506
KENVUE INC KVUE 0.10 591921 BBG01C79X561 34038
AO Smith Corp AOS 0.10 601204 BBG000BC1L02 10553
Kimberly-Clark Corp KMB 0.10 588012 BBG000BMW2Z0 6163
HORMEL FOODS CORP HRL 0.10 616617 BBG000BLF8D2 30708
MEDTRONIC PLC MDT 0.10 613415 BBG000BNWG87 6973
ARM HOLDINGS PLC ARM 0.10 610041 BBG01J1GXZF0 2014
FRANKLIN RESOURCES INC BEN 0.10 621333 BBG000BD0TF8 18897
VERTEX PHARMACEUTICALS INC VRTX 0.10 605207 BBG000C1S2X2 1202
STANLEY BLACK & DECKER INC SWK 0.10 606416 BBG000BTQR96 6762
CLOROX COMPANY CLX 0.10 614091 BBG000BFS7D3 7488
T ROWE PRICE GROUP INC TROW 0.10 605184 BBG000BVMPN3 5823
ABBVIE INC ABBV 0.10 621878 BBG0025Y4RY4 2340
FORTINET INC FTNT 0.10 630093 BBG000BCMBG4 3422
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 602631 N/A 14417
GENUINE PARTS CO GPC 0.09 579063 BBG000BKL348 4587
IRON MOUNTAIN INC IRM 0.09 555135 BBG000KCZPC3 4942
ILLINOIS TOOL WORKS ITW 0.09 520983 BBG000BMBL90 1972
International Business Machines Corporation IBM 0.09 578545 BBG000BLNNH6 2611
BOOKING HOLDINGS INC BKNG 0.09 543230 BBG000BLBVN4 3431
PPG INDUSTRIES INC PPG 0.08 504664 BBG000BRJ809 4794
CONSTELLATION ENERGY CORPORATION CEG 0.08 460574 BBG014KFRNP7 1721
EVERSOURCE ENERGY ES 0.08 512215 BBG000BQ87N0 7918
STARBUCKS CORP SBUX 0.08 519837 BBG000CTQBF3 5505
LUMENTUM HOLDINGS INC LITE 0.08 460685 BBG0073F9RT7 422
CADENCE DESIGN SYS INC CDNS 0.07 440083 BBG000C13CD9 1245
Marriott International, Inc Class A MAR 0.07 455895 BBG000BGD7W6 1281
ADOBE SYSTEMS INC ADBE 0.07 453214 BBG000BB5006 1898
MONSTER BEVERAGE CORP MNST 0.07 414781 BBG008NVB1C0 9533
MERCADOLIBRE INC MELI 0.07 440965 BBG000GQPB11 237
EXTRA SPACE STORAGE INC EXR 0.07 459071 BBG000PV27K3 3454
APPLOVIN CORP APP 0.07 415906 BBG006HFPX77 1475
CSX CORP CSX 0.07 427249 BBG000BGJRC8 9008
VICI PROPERTIES INC REIT VICI 0.07 403219 BBG00HVVB499 17897
SYNOPSYS INC SNPS 0.07 445973 BBG000BSFRF3 913
Datadog Inc. Class A DDOG 0.07 435354 BBG003NJHZT9 1575
Warner Bros Discovery Inc WBD 0.06 373721 BBG011386VF4 12075
ERIE INDEMNITY COMPANY-CL A ERIE 0.06 353229 BBG000BBTJZ1 1595
COMCAST CORP-CLASS A CMCSA 0.06 371716 BBG000BFT2L4 17233
ROSS STORES INC ROST 0.06 344988 BBG000BSBZH7 1524
REGENERON PHARMACEUTICALS REGN 0.06 344347 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 376061 BBG005D7QCJ3 1961
AIRBNB INC ABNB 0.06 337164 BBG001Y2XS07 2055
INTUIT INC INTU 0.06 368945 BBG000BH5DV1 1296
CINTAS CORP CTAS 0.06 376927 BBG000H3YXF8 1929
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.06 338033 BBG00CMNZNK7 338033
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 359889 BBG000D4LWF6 6153
PACCAR INC PCAR 0.05 278977 BBG000BQVTF5 2551
FASTENAL CO FAST 0.05 279758 BBG000BJ8YN7 5519
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 321136 BBG000C30L48 217
ESSEX PROPERTY TRUST INC ESS 0.05 286614 BBG000CGJMB9 1054
TERADYNE INC TER 0.05 326285 BBG000BV4DR6 734
NXP Semiconductors NV NXPI 0.05 288912 BBG000BND699 1194
OREILLY AUTOMOTIVE INC ORLY 0.05 329224 BBG000BGYWY6 3924
AMERICAN ELECTRIC POWER AEP 0.05 313812 BBG000BB9KF2 2621
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 326135 BBG022XF4SZ9 1523
XCEL ENERGY INC XEL 0.04 215113 BBG000BCTQ65 3009
PAYPAL HOLDINGS INC PYPL 0.04 231134 BBG0077VNXV6 4248
HOST HOTELS & RESORTS INC HST 0.04 257140 BBG000BL8804 11459
ASTERA LABS INC ALAB 0.04 272480 BBG00TDKHW99 752
Omega Healthcare Investors Inc OHI 0.04 225348 BBG000BGBTC2 4968
Baker Hughes Company BKR 0.04 263087 BBG00GBVBK51 4585
HEALTHPEAK PROPERTIES INC DOC 0.04 217282 BBG000BKYDP9 11533
MID-AMERICA APARTMENT COMM MAA 0.04 221759 BBG000BLMY92 1904
KIMCO REALTY CORP KIM 0.04 240656 BBG000CN3S73 10924
INVITATION HOMES INC REIT USD.01 INVH 0.04 257447 BBG00FQH6BS9 9879
Nebius Group NV NBIS 0.04 248385 BBG001NVJ6W4 1068
DIAMONDBACK ENERGY INC FANG 0.04 242617 BBG002PHSYX9 1318
AUTODESK INC ADSK 0.04 223332 BBG000BM7HL0 1008
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 250994 BBG00LBLDDR2 3222
W. P. CAREY REIT INC WPC 0.04 238842 BBG000BCQM58 3736
MICROSTRATEGY INC-CL A MSTR 0.04 249276 BBG000GQJPZ0 1516
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 217044 BBG00B6BFWH9 2139
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 235635 BBG020QYV152 1513
PAYCHEX INC PAYX 0.03 171023 BBG000BQSQ38 1714
MICROCHIP TECHNOLOGY INC MCHP 0.03 212444 BBG000BHCP19 2607
ROPER TECHNOLOGIES INC ROP 0.03 163158 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 160606 BBG000BHJWG1 390
Old Dominion Freight Line Inc. ODFL 0.03 176859 BBG000CHSS88 986
EXELON CORP EXC 0.03 200426 BBG000J6XT05 4910
IDEXX LABS IDXX 0.03 190799 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 192677 BBG000BS1YV5 947
KEURIG DR PEPPER INC KDP 0.03 203071 BBG000TJM7F0 6574
FERROVIAL SA FER 0.03 179308 BBG01H0DF657 3458.88
WORKDAY INC-CLASS A WDAY 0.03 186126 BBG000VC0T95 985
COREWEAVE INC CRWV 0.03 186315 BBG011ZTRJ21 2132
DEXCOM INC DXCM 0.03 160852 BBG000QTF8K1 1851
ROCKET LAB CORP RKLB 0.03 203434 BBG01V7JN3F3 2786
THOMSON REUTERS CORP TRI 0.03 177268 N/A 1826
AIR PRODUCTS & CHEMICALS INC APD 0.02 120443 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 133533 BBG000B9ZXB4 1334
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 134133 BBG000BFGNJ5 610
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 142919 BBG01BFR8YV1 2174
COPART INC CPRT 0.02 121328 BBG000BM9RH1 4388
MCDONALDS CORP MCD 0.02 121181 BBG000BNSZP1 520
CONSOLIDATED EDISON INC ED 0.02 121265 BBG000BHLYS1 1173

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.