RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

How to Buy
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 08/06/2026
TICKER RAA
NET ASSETS $604M
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 $29.82
30 DAY MEDIAN BID-ASK SPREAD 0.000679

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 08/06/2026

NET ASSET VALUE

$29.82

CLOSING PRICE

$29.83

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 14
Discount 13 16 8 14 6

Asset Allocation

As of 8/6/2026

Equities

40.51%
Nasdaq
16.29%
US Large Cap
10.15%
Dividend Payers
5.01%
US Small Cap
3.02%
Emerging Ex. China
3.01%
Japan
2.03%
Europe
1.00%

Fixed Income

25.13%
Long Term Treasuries
5.95%
High Yield
5.94%
Emerging Mkt Bonds
3.97%
Corporate Bonds
3.95%
TIPS
2.96%
T-Bills
2.36%

Alternatives

34.36%
Managed Futures
10.83%
Commodities
8.71%
Energy
4.84%
Real Estate
3.79%
Miners
3.14%
Bitcoin
2.02%
Gold
1.03%

Holdings

As of 08/06/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.15 61279700 BBG00RYR67P4 1249080
iM DBi Managed Futures Strategy ETF DBMF 9.45 57081900 N/A 1844920
INVESCO OPTIMUM YIELD DIVERS PDBC 8.71 52577800 N/A 3051520
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.95 35947100 BBG00PZFJPC3 1196640
SCHWAB HIGH YIELD BOND ETF SCYB 5.94 35898600 BBG01F80WX71 1381780
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.97 23985200 BBG000NXKWH0 252609
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.95 23846700 BBG000PWYVH7 293390
VANGUARD SMALL-CAP ETF VB 3.02 18209100 BBG000HT3Z79 60303
ISHARES MSCI EMR MRK EX CHNA EMXC 3.01 18202500 BBG00H5VLMJ6 193767
SCHWAB U.S. TIPS ETF SCHP 2.96 17874800 BBG000BGN6P5 689881
Franklin FTSE Japan ETF FLJP 2.03 12244600 BBG00J3MDY16 301740
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.02 12194300 N/A 428322
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.97 11904200 BBG01922X0X9 238608
Simplify DBi CTA Managed Futures Index ETF SDMF 1.38 8340700 BBG020BR8WR7 324267
NVIDIA CORP NVDA 1.36 8231830 BBG000BBJQV0 37590
APPLE INC AAPL 1.34 8085480 BBG000B9XRY4 25881
SPROTT PHYSICAL GOLD TRUS PHYS 1.03 6249180 BBG000Q83F79 194074
Franklin FTSE Europe ETF FLEE 1.00 6042490 BBG00J3PR1S7 151215
MICROSOFT CORP MSFT 0.95 5736890 BBG000BPH459 11477
MICRON TECHNOLOGY INC MU 0.76 4613610 BBG000C5Z1S3 5234
BHP GROUP LTD BHP 0.68 4130070 BBG000BD5NZ4 46986
AMAZON.COM INC AMZN 0.67 4062940 BBG000BVPV84 14923
CHEVRON CORP CVX 0.61 3685630 BBG000K4ND22 19477
ADVANCED MICRO DEVICES INC AMD 0.59 3545320 BBG000BBQCY0 7246
WELLTOWER INC WELL 0.55 3325480 BBG000BKY1G5 14091
Broadcom Inc. AVGO 0.52 3150870 BBG00KHY5S69 7492
ALPHABET INC-CL A GOOGL 0.52 3127810 BBG009S39JX6 8743
SCHLUMBERGER LTD SLB 0.51 3098070 BBG000BT41Q8 60110
Cheniere Energy Inc LNG 0.50 3009050 BBG000C3HSR0 11322
WILLIAMS COMPANIES INC. WMB 0.50 2991820 BBG000BWVCP8 41692
OCCIDENTAL PETROLEUM CORP OXY 0.49 2949330 BBG000BQQ2S6 52629
ALPHABET INC-CL C GOOG 0.49 2937120 BBG009S3NB30 8236
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.49 2985930 BBG023CY9MM1 19284
EQT CORP EQT 0.48 2898170 BBG000BHZ5J9 56166
CANADIAN NATURAL RESOURCES CNQ 0.47 2839530 BBG000HW5GX3 62476
REALTY INCOME CORP O 0.47 2854970 BBG000DHPN63 45782
MARATHON PETROLEUM CORP MPC 0.47 2844370 BBG001DCCGR8 9505
META PLATFORMS INC META 0.46 2748930 BBG000MM2P62 4660
Suncor Energy Inc. SU 0.45 2725540 BBG000BC1LY5 44426
PROLOGIS INC PLD 0.44 2631550 BBG000B9Z0J8 18913
Tesla Inc. TSLA 0.42 2509270 BBG000N9MNX3 7853
WAL-MART STORES INC WMT 0.40 2398970 BBG000BWXBC2 21406
INTEL CORP INTC 0.36 2174660 BBG000C0G1D1 21788
EQUINIX INC EQIX 0.36 2198370 BBG000MBDGM6 2088
NEWMONT GOLDCORP CORPORATION COM NEM 0.35 2142860 BBG000BPWXK1 20325
CISCO SYSTEMS INC CSCO 0.34 2047590 BBG000C3J3C9 16939
AUTOMATIC DATA PROCESSING ADP 0.34 2025620 BBG000JG0547 7406
PEPSICO INC PEP 0.31 1890400 BBG000DH7JK6 13655
RIO TINTO PLC-SPON ADR RIO 0.31 1891360 BBG000FD28T3 18980
FREEPORT-MCMORAN INC FCX 0.31 1874950 BBG000BJDB15 27500
COSTCO WHOLESALE CORP COST 0.30 1840400 BBG000F6H8W8 1939
APPLIED MATERIALS INC AMAT 0.29 1754930 BBG000BBPFB9 3327
CLOROX COMPANY CLX 0.27 1644720 BBG000BFS7D3 15575
DIGITAL REALTY TRUST INC DLR 0.27 1625010 BBG000Q5ZRM7 8439
LAM RESH CORP LRCX 0.27 1617220 BBG000BNFLM9 5289
SIMON PROPERTY GROUP INC SPG 0.27 1657510 BBG000BJ2D31 7472
PUBLIC STORAGE PSA 0.26 1561420 BBG000BPPN67 4775
AO Smith Corp AOS 0.26 1562720 BBG000BC1L02 24809
STANLEY BLACK & DECKER INC SWK 0.26 1574610 BBG000BTQR96 15584
AGNICO EAGLE MINES LTD AEM 0.26 1578950 BBG000DLVDK3 9403
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.26 1590540 BBG000N7QR55 10201
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1565400 N/A 33264
KENVUE INC KVUE 0.25 1481390 BBG01C79X561 77236
HORMEL FOODS CORP HRL 0.25 1486680 BBG000BLF8D2 59254
MEDTRONIC PLC MDT 0.25 1497160 BBG000BNWG87 17425
FRANKLIN RESOURCES INC BEN 0.25 1483420 BBG000BD0TF8 43630
T ROWE PRICE GROUP INC TROW 0.25 1505580 BBG000BVMPN3 13251
Kimberly-Clark Corp KMB 0.24 1472780 BBG000BMW2Z0 13554
ABBVIE INC ABBV 0.24 1442000 BBG0025Y4RY4 5913
GENUINE PARTS CO GPC 0.23 1395090 BBG000BKL348 10506
PPG INDUSTRIES INC PPG 0.23 1380610 BBG000BRJ809 11784
NETFLIX INC NFLX 0.23 1409170 BBG000CL9VN6 19123
EVERSOURCE ENERGY ES 0.23 1364960 BBG000BQ87N0 18942
International Business Machines Corporation IBM 0.23 1384940 BBG000BLNNH6 5933
Barrick Mining Corp ABX 0.22 1336040 N/A 32295
Ventas Inc. VTR 0.22 1352720 BBG000FRVHB9 14662
PALO ALTO NETWORKS INC PANW 0.21 1286260 BBG0014GJCT9 3578
GLENCORE PLC -UNSP ADR GLNCY 0.20 1227630 BBG001VKX1Z1 81381
ILLINOIS TOOL WORKS ITW 0.20 1223000 BBG000BMBL90 4150
NUCOR CORP NUE 0.19 1129340 BBG000BQ8KV2 4152
TEXAS INSTRUMENTS INC TXN 0.19 1135870 BBG000BVV7G1 4080
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.18 1087600 BBG000PVRDL2 8680
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1072390 BBG000BBTJZ1 4221
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.18 1090260 N/A 40157
IRON MOUNTAIN INC IRM 0.17 997267 BBG000KCZPC3 8177
LINDE PLC LIN 0.17 1038540 BBG01FND0CC1 2119
KLA CORPORATION KLAC 0.17 1040880 BBG000BMTFR4 5387
SPACE EXPLORATION TECH CORP A SPCX 0.17 1003370 BBG000NQF3Z5 8731
AMGEN INC AMGN 0.16 938442 BBG000BBS2Y0 2318
EXTRA SPACE STORAGE INC EXR 0.16 959748 BBG000PV27K3 6418
Crowdstrike Holdings Inc. Class A CRWD 0.15 906502 BBG00BLYKS03 4371
T-MOBILE US INC TMUS 0.15 879873 BBG000NDV1D4 4889
FRANCO-NEVADA CORP FNV 0.14 836278 BBG000TRN6Z1 3619
SANDISK CORP/DE SNDKV SNDK 0.14 824370 BBG01R388JG1 655
VICI PROPERTIES INC REIT VICI 0.14 845936 BBG00HVVB499 31874
QUALCOMM INC QCOM 0.13 770674 BBG000CGC1X8 4805
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.13 800067 BBG0113JGQF0 938
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 774998 BBG00ZXBJ153 3681
SHOPIFY INC - CLASS A SHOP 0.13 814901 BBG004DW5NB8 5527
AVALONBAY COMMUNITIES INC AVB 0.13 775115 BBG000BLPBL5 4155
ANALOG DEVICES INC ADI 0.13 790842 BBG000BB6G37 2096
EQUITY RESIDENTIAL EQR 0.12 714424 BBG000BG8M31 10711
GILEAD SCIENCES INC GILD 0.12 716982 BBG000CKGBP2 5479
VALE SA-SP ADR VALE 0.12 754827 BBG000BN5LG7 51279
BOOKING HOLDINGS INC BKNG 0.12 699319 BBG000BLBVN4 3372
WESTERN DIGITAL CORP WDC 0.11 673668 BBG000BWNFZ9 1492
ASML HOLDING NV-NY REG SHS ASML 0.11 671522 BBG000K6MRN4 394
FASTENAL CO FAST 0.10 574599 BBG000BJ8YN7 11311
Cash & Other Cash&Other 0.09 564067 N/A 564067
INTUITIVE SURGICAL INC ISRG 0.09 565423 BBG000BJPDZ1 1513
ARM HOLDINGS PLC ARM 0.09 553292 BBG01J1GXZF0 1930
ESSEX PROPERTY TRUST INC ESS 0.09 536026 BBG000CGJMB9 1880
VERTEX PHARMACEUTICALS INC VRTX 0.09 544534 BBG000C1S2X2 1125
STARBUCKS CORP SBUX 0.09 535370 BBG000CTQBF3 5091
INVITATION HOMES INC REIT USD.01 INVH 0.09 547146 BBG00FQH6BS9 18016
Sun Communities Inc SUI 0.08 463713 BBG000BLJWF3 3854
MID-AMERICA APARTMENT COMM MAA 0.08 477460 BBG000BLMY92 3573
KIMCO REALTY CORP KIM 0.08 457207 BBG000CN3S73 18715
FORTINET INC FTNT 0.08 474246 BBG000BCMBG4 2962
APPLOVIN CORP APP 0.08 459197 BBG006HFPX77 1368
W. P. CAREY REIT INC WPC 0.08 465804 BBG000BCQM58 6483
CADENCE DESIGN SYS INC CDNS 0.07 416595 BBG000C13CD9 1231
HOST HOTELS & RESORTS INC HST 0.07 442770 BBG000BL8804 18938
CONSTELLATION ENERGY CORPORATION CEG 0.07 411755 BBG014KFRNP7 1577
ADOBE SYSTEMS INC ADBE 0.07 435642 BBG000BB5006 1674
Marriott International, Inc Class A MAR 0.07 400313 BBG000BGD7W6 1113
MONSTER BEVERAGE CORP MNST 0.07 406771 BBG008NVB1C0 4320
MERCADOLIBRE INC MELI 0.07 406260 BBG000GQPB11 222
CSX CORP CSX 0.07 418478 BBG000BGJRC8 8254
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.07 427901 BBG00CMNZNK7 427901
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 360875 BBG000D4LWF6 5751
COMCAST CORP-CLASS A CMCSA 0.06 374907 BBG000BFT2L4 14895
DOORDASH INC CLASS A DASH 0.06 387493 BBG005D7QCJ3 1817
ROSS STORES INC ROST 0.06 361629 BBG000BSBZH7 1422
REGENERON PHARMACEUTICALS REGN 0.06 362892 BBG000C734W3 470
INTUIT INC INTU 0.06 365690 BBG000BH5DV1 1136
CINTAS CORP CTAS 0.06 352347 BBG000H3YXF8 1743
Datadog Inc. Class A DDOG 0.06 352189 BBG003NJHZT9 1536
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.06 350758 BBG022XF4SZ9 1457
PACCAR INC PCAR 0.05 295286 BBG000BQVTF5 2236
Warner Bros Discovery Inc WBD 0.05 300089 BBG011386VF4 11367
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 282689 BBG000C30L48 208
NXP Semiconductors NV NXPI 0.05 291579 BBG000BND699 1258
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 304231 BBG000B9ZXB4 2818
AIRBNB INC ABNB 0.05 297669 BBG001Y2XS07 1963
SYNOPSYS INC SNPS 0.05 314229 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 303886 BBG000BNSZP1 1100
CONSOLIDATED EDISON INC ED 0.05 296671 BBG000BHLYS1 2723
OREILLY AUTOMOTIVE INC ORLY 0.05 311109 BBG000BGYWY6 3332
LUMENTUM HOLDINGS INC LITE 0.05 274046 BBG0073F9RT7 327
AMERICAN ELECTRIC POWER AEP 0.05 289852 BBG000BB9KF2 2314
XCEL ENERGY INC XEL 0.04 233989 BBG000BCTQ65 3040
PAYPAL HOLDINGS INC PYPL 0.04 248864 BBG0077VNXV6 4163
ASTERA LABS INC ALAB 0.04 248294 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 246141 BBG00GBVBK51 3937
TERADYNE INC TER 0.04 240556 BBG000BV4DR6 625
AUTODESK INC ADSK 0.04 246834 BBG000BM7HL0 1018
DIAMONDBACK ENERGY INC FANG 0.04 223384 BBG002PHSYX9 1178
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 245477 BBG00LBLDDR2 2702
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 235444 BBG00B6BFWH9 2175
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 223909 BBG020QYV152 1431
PAYCHEX INC PAYX 0.03 184279 BBG000BQSQ38 1534
MICROCHIP TECHNOLOGY INC MCHP 0.03 176084 BBG000BHCP19 2368
ROPER TECHNOLOGIES INC ROP 0.03 181466 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 178159 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 177796 BBG000CHSS88 841
IDEXX LABS IDXX 0.03 189980 BBG000BLRT07 322
EXELON CORP EXC 0.03 176159 BBG000J6XT05 3887
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 172028 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 173625 BBG000TJM7F0 5717
FERROVIAL SA FER 0.03 178376 BBG01H0DF657 2727.88
Nebius Group NV NBIS 0.03 177918 BBG001NVJ6W4 937
ROCKET LAB CORP RKLB 0.03 207336 BBG01V7JN3F3 2740
THOMSON REUTERS CORP TRI 0.03 183475 N/A 1832
KRAFT HEINZ CO/THE KHC 0.02 114541 BBG005CPNTQ2 4589
WORKDAY INC-CLASS A WDAY 0.02 127169 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 126646 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 123183 BBG01BFR8YV1 1752
COREWEAVE INC CRWV 0.02 140709 BBG011ZTRJ21 1649
COPART INC CPRT 0.02 118854 BBG000BM9RH1 4097
DEXCOM INC DXCM 0.02 118719 BBG000QTF8K1 1430
MICROSTRATEGY INC-CL A MSTR 0.02 123096 BBG000GQJPZ0 1271

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.