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 12/01/2025
TICKER RAA
NET ASSETS $501M
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 $27.64
30 DAY MEDIAN BID-ASK SPREAD 0.000371

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 2.14% 3.44% 7.33% 6.54% - - 11.85% 9.50%
RAA - Market Price 2.17% 3.45% 7.45% 6.40% - - 11.90% 9.52%
S&P 500 Index Total Return 2.34% 3.65% 8.23% 8.12% - - 15.83% 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 12/01/2025

NET ASSET VALUE

$27.64

CLOSING PRICE

$27.64

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 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Premium 0 23 54 47 27
Discount 0 0 5 13 10

Asset Allocation

As of 12/1/2025

Equities

43.98%
Nasdaq
19.02%
US Large Cap
14.99%
Emerging Ex. China
2.99%
Japan
2.98%
Europe
2.01%
Dividend Payers
1.00%
US Small Cap
0.99%

Fixed Income

26.98%
High Yield
6.95%
Corporate Bonds
5.95%
Emerging Mkt Bonds
4.96%
TIPS
3.96%
Long Term Treasuries
2.94%
T-Bills
2.22%

Alternatives

29.04%
Commodities
7.11%
Managed Futures
6.93%
Energy
4.08%
Gold
4.06%
Miners
3.03%
Bitcoin
2.85%
Real Estate
0.98%

Holdings

As of 12/01/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.99 75097500 BBG00RYR67P4 575151
INVESCO OPTIMUM YIELD DIVERS PDBC 7.11 35608700 N/A 2587840
Schwab High Yield Bond ETF SCYB 6.95 34829900 BBG01F80WX71 1317820
iM DBi Managed Futures Strategy ETF DBMF 6.93 34716800 N/A 1210910
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.95 29784400 BBG000PWYVH7 354830
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.96 24835200 BBG000NXKWH0 258646
SPROTT PHYSICAL GOLD TRUS PHYS 4.06 20353200 BBG000Q83F79 627411
SCHWAB U.S. TIPS ETF SCHP 3.96 19852700 BBG000BGN6P5 742712
ISHARES MSCI EMR MRK EX CHNA EMXC 2.99 14969700 BBG00H5VLMJ6 211138
Franklin FTSE Japan ETF FLJP 2.98 14924500 BBG00J3MDY16 420526
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.94 14746900 BBG00PZFJPC3 458689
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.85 14277700 N/A 377218
Franklin FTSE Europe ETF FLEE 2.01 10047200 BBG00J3PR1S7 282305
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 9980080 BBG01922X0X9 200170
NVIDIA CORP NVDA 1.76 8806540 BBG000BBJQV0 48947
APPLE INC AAPL 1.71 8543390 BBG000B9XRY4 30178
MICROSOFT CORP MSFT 1.45 7254860 BBG000BPH459 14905
Broadcom Inc. AVGO 1.19 5955280 BBG00KHY5S69 15425
AMAZON.COM INC AMZN 1.02 5095310 BBG000BVPV84 21786
VANGUARD SMALL-CAP ETF VB 0.99 4973900 BBG000HT3Z79 19362
ISHARES MSCI GLOBAL METALS & PICK 0.76 3804470 BBG002GKR8T5 79658
ALPHABET INC-CL A GOOGL 0.76 3789700 BBG009S39JX6 12035
ALPHABET INC-CL C GOOG 0.71 3546360 BBG009S3NB30 11254
Tesla Inc. TSLA 0.63 3159810 BBG000N9MNX3 7346
META PLATFORMS INC META 0.57 2842900 BBG000MM2P62 4436
NETFLIX INC NFLX 0.46 2283110 BBG000CL9VN6 20921
CHEVRON CORP CVX 0.44 2180710 BBG000K4ND22 14296
CANADIAN NATURAL RESOURCES CNQ 0.41 2038710 BBG000HW5GX3 59874
WILLIAMS COMPANIES INC. WMB 0.41 2036240 BBG000BWVCP8 33142
OCCIDENTAL PETROLEUM CORP OXY 0.41 2033840 BBG000BQQ2S6 48036
EQT CORP EQT 0.41 2053630 BBG000BHZ5J9 33933
SCHLUMBERGER LTD SLB 0.41 2040120 BBG000BT41Q8 55741
MARATHON PETROLEUM CORP MPC 0.41 2033580 BBG001DCCGR8 10368
Cheniere Energy Inc LNG 0.41 2044960 BBG000C3HSR0 9706
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.40 2011610 BBG000BRK7L6 44902
COSTCO WHOLESALE CORP COST 0.40 2002660 BBG000F6H8W8 2196
EXXON MOBIL CORP XOM 0.40 2023410 BBG000GZQ728 17349
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.37 1872370 BBG000N7QR55 11179
BHP GROUP LTD BHP 0.37 1863700 BBG000BD5NZ4 33781
ADVANCED MICRO DEVICES INC AMD 0.34 1723360 BBG000BBQCY0 7842
ISHARES MSCI GLOBAL GOLD MIN RING 0.34 1682380 BBG002GKR6T9 23796
CISCO SYSTEMS INC CSCO 0.30 1516010 BBG000C3J3C9 19937
NEWMONT GOLDCORP CORPORATION COM NEM 0.28 1423460 BBG000BPWXK1 15501
MICRON TECHNOLOGY INC MU 0.26 1318680 BBG000C5Z1S3 5484
AGNICO EAGLE MINES LTD AEM 0.24 1193920 BBG000DLVDK3 6941
T-MOBILE US INC TMUS 0.23 1172010 BBG000NDV1D4 5672
RIO TINTO PLC-SPON ADR RIO 0.22 1095670 BBG000FD28T3 15224
INTUITIVE SURGICAL INC ISRG 0.21 1033750 BBG000BJPDZ1 1822
PEPSICO INC PEP 0.20 1018910 BBG000DH7JK6 6815
APPLIED MATERIALS INC AMAT 0.20 991742 BBG000BBPFB9 3893
Barrick Mining Corp. B 0.20 991665 N/A 23427
LINDE PLC LIN 0.19 958815 BBG01FND0CC1 2355
LAM RESH CORP LRCX 0.19 967902 BBG000BNFLM9 6253
SHOPIFY INC - CLASS A SHOP 0.18 907025 BBG008HBD923 6076
QUALCOMM INC QCOM 0.18 901367 BBG000CGC1X8 5364
INTUIT INC INTU 0.18 915217 BBG000BH5DV1 1449
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.18 882512 BBG00CMNZNK7 882512
APPLOVIN CORP APP 0.18 914183 BBG006HFPX77 1466
AMGEN INC AMGN 0.18 913585 BBG000BBS2Y0 2707
INTEL CORP INTC 0.17 856214 BBG000C0G1D1 21400
BOOKING HOLDINGS INC BKNG 0.16 802257 BBG000BLBVN4 164
FREEPORT-MCMORAN INC FCX 0.16 814583 BBG000BJDB15 18913
TEXAS INSTRUMENTS INC TXN 0.15 750162 BBG000BVV7G1 4461
GILEAD SCIENCES INC GILD 0.15 769976 BBG000CKGBP2 6193
WELLTOWER INC WELL 0.15 741992 BBG000BKY1G5 3639
KLA CORPORATION KLAC 0.15 764896 BBG000BMTFR4 661
AUTOMATIC DATA PROCESSING ADP 0.15 774172 BBG000JG0547 3026
ADOBE SYSTEMS INC ADBE 0.14 697679 BBG000BB5006 2161
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 668678 BBG000PVRDL2 6080
PALO ALTO NETWORKS INC PANW 0.13 631899 BBG0014GJCT9 3366
PROLOGIS INC PLD 0.13 650839 BBG000B9Z0J8 5048
Crowdstrike Holdings Inc. Class A CRWD 0.13 648311 BBG00BLYKS03 1286
ANALOG DEVICES INC ADI 0.13 646020 BBG000BB6G37 2424
HONEYWELL INTERNATIONAL INC HON 0.12 613460 BBG000H556T9 3225
GLENCORE PLC -UNSP ADR GLNCY 0.12 621772 BBG001VKX1Z1 65107
VERTEX PHARMACEUTICALS INC VRTX 0.11 544342 BBG000C1S2X2 1279
CONSTELLATION ENERGY CORPORATION CEG 0.11 552219 BBG014KFRNP7 1538
MERCADOLIBRE INC MELI 0.11 530589 BBG000GQPB11 257
Anglo American PLC NGLOD 0.11 556397 N/A 29146
REALTY INCOME CORP O 0.10 512907 BBG000DHPN63 8931
FRANCO-NEVADA CORP FNV 0.10 500633 BBG000RD3CL8 2417
STARBUCKS CORP SBUX 0.10 484157 BBG000CTQBF3 5702
COMCAST CORP-CLASS A CMCSA 0.10 495584 BBG000BFT2L4 18645
ASML HOLDING NV-NY REG SHS ASML 0.09 443900 BBG000K6MRN4 408
FASTENAL CO FAST 0.09 463933 BBG000BJ8YN7 11555
Marriott International, Inc Class A MAR 0.08 418747 BBG000BGD7W6 1380
CADENCE DESIGN SYS INC CDNS 0.08 423251 BBG000C13CD9 1367
REGENERON PHARMACEUTICALS REGN 0.08 390807 BBG000C734W3 521
DOORDASH INC CLASS A DASH 0.08 420000 BBG005D7QCJ3 2043
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 387098 BBG00LBLDDR2 3273
SYNOPSYS INC SNPS 0.08 395338 BBG000BSFRF3 902
OREILLY AUTOMOTIVE INC ORLY 0.08 425613 BBG000BGYWY6 4204
EQUINIX INC EQIX 0.08 389372 BBG000MBDGM6 531
Cash & Other Cash&Other 0.07 346889 N/A 346889
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 366487 BBG000D4LWF6 6498
AMERICAN ELECTRIC POWER AEP 0.07 325980 BBG000BB9KF2 2705
SIMON PROPERTY GROUP INC SPG 0.07 348433 BBG000BJ2D31 1882
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.07 369502 BBG00ZXBJ153 4056
MONSTER BEVERAGE CORP MNST 0.07 375193 BBG008NVB1C0 4940
CINTAS CORP CTAS 0.07 371602 BBG000H3YXF8 2004
PAYPAL HOLDINGS INC PYPL 0.06 297943 BBG0077VNXV6 4761
PUBLIC STORAGE PSA 0.06 296367 BBG000BPPN67 1093
Warner Bros Discovery Inc WBD 0.06 289018 BBG011386VF4 12108
IDEXX LABS IDXX 0.06 295233 BBG000BLRT07 405
CSX CORP CSX 0.06 319923 BBG000BGJRC8 9180
THOMSON REUTERS CORP COMMON STOCK TRI 0.06 304651 N/A 2287
AUTODESK INC ADSK 0.06 316409 BBG000BM7HL0 1037
DIGITAL REALTY TRUST INC DLR 0.06 294639 BBG000Q5ZRM7 1884
FORTINET INC FTNT 0.06 320980 BBG000BCMBG4 3923
ROSS STORES INC ROST 0.06 295360 BBG000BSBZH7 1664
Ventas Inc. VTR 0.05 251540 BBG000FRVHB9 3129
XCEL ENERGY INC XEL 0.05 231137 BBG000BCTQ65 2899
ROPER TECHNOLOGIES INC ROP 0.05 234210 BBG000F1ZSN5 528
PACCAR INC PCAR 0.05 271570 BBG000BQVTF5 2612
KENVUE INC KVUE 0.05 249380 BBG01C79X561 14482
EXELON CORP EXC 0.05 231877 BBG000J6XT05 5075
Kimberly-Clark Corp KMB 0.05 251053 BBG000BMW2Z0 2313
GENUINE PARTS CO GPC 0.05 235469 BBG000BKL348 1812
Baker Hughes Company BKR 0.05 245182 BBG00GBVBK51 4888
HORMEL FOODS CORP HRL 0.05 251617 BBG000BLF8D2 10799
ILLINOIS TOOL WORKS ITW 0.05 247985 BBG000BMBL90 1002
AMCOR PLC AMCR 0.05 248215 BBG00LNJRQ09 29065
FRANKLIN RESOURCES INC BEN 0.05 250126 BBG000BD0TF8 11097
AIRBNB INC ABNB 0.05 258746 BBG001Y2XS07 2178
NXP Semiconductors NV NXPI 0.05 241582 BBG000BND699 1211
T ROWE PRICE GROUP INC TROW 0.05 248896 BBG000BVMPN3 2450
ABBVIE INC ABBV 0.05 248071 BBG0025Y4RY4 1102
EVERSOURCE ENERGY ES 0.05 230330 BBG000BQ87N0 3461
WORKDAY INC-CLASS A WDAY 0.05 257727 BBG000VC0T95 1208
ASTRAZENECA PLC-SPONS ADR AZN 0.05 266129 BBG000BZ0DK8 2940
Datadog Inc. Class A DDOG 0.05 253272 BBG003NJHZT9 1604
STANLEY BLACK & DECKER INC SWK 0.05 245267 BBG000BTQR96 3476
ELECTRONIC ARTS INC EA 0.05 256517 BBG000BP0KQ8 1266
TARGET CORP TGT 0.05 255168 BBG000H8TVT2 2793
MEDTRONIC PLC MDT 0.05 240679 BBG000BNWG87 2329
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 234878 BBG000BS1YV5 942
PAYCHEX INC PAYX 0.04 208036 BBG000BQSQ38 1882
AVALONBAY COMMUNITIES INC AVB 0.04 197076 BBG000BLPBL5 1097
PPG INDUSTRIES INC PPG 0.04 224385 BBG000BRJ809 2247
MICROSTRATEGY INC-CL A MSTR 0.04 220789 BBG000GQJPZ0 1288
AXON ENTERPRISE INC AXON 0.04 210618 BBG000BHJWG1 395
EXTRA SPACE STORAGE INC EXR 0.04 197778 BBG000PV27K3 1499
KEURIG DR PEPPER INC KDP 0.04 184344 BBG000TJM7F0 6544
COPART INC CPRT 0.04 192031 BBG000BM9RH1 4905
VICI PROPERTIES INC REIT VICI 0.04 198014 BBG00HVVB499 6926
DIAMONDBACK ENERGY INC FANG 0.04 219405 BBG002PHSYX9 1405
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 178290 BBG01BFR8YV1 2250
International Business Machines Corporation IBM 0.04 206633 BBG000BLNNH6 676
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 212636 BBG00B6BFWH9 2303
Zscaler Inc. ZS 0.04 220168 BBG003338H34 905
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 191020 BBG000BBDV81 2467
MICROCHIP TECHNOLOGY INC MCHP 0.03 141536 BBG000BHCP19 2649
KRAFT HEINZ CO/THE KHC 0.03 148617 BBG005CPNTQ2 5858
Old Dominion Freight Line Inc. ODFL 0.03 144698 BBG000CHSS88 1036
VERISK ANALYTICS INC VRSK 0.03 150087 BBG000BCZL41 670
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 128237 BBG01BGWHFR5 846
COSTAR GROUP INC CSGP 0.03 139781 BBG000D7JKW9 2055
CHARTER COMMUNICATIONS INC-A CHTR 0.03 133525 BBG000VPGNR2 678
DEXCOM INC DXCM 0.03 126532 BBG000QTF8K1 1992
AFLAC INC AFL 0.03 142963 BBG000BBBNC6 1305
EQUITY RESIDENTIAL EQR 0.03 149176 BBG000BG8M31 2428
IRON MOUNTAIN INC IRM 0.03 144041 BBG000KCZPC3 1739
BIOGEN INC BIIB 0.03 131379 BBG000C17X76 739
Sun Communities Inc SUI 0.02 98939.5 BBG000BLJWF3 772
GLOBALFOUNDRIES INC GFS 0.02 96768.4 BBG000C2L5G9 2697
ESSEX PROPERTY TRUST INC ESS 0.02 99151.4 BBG000CGJMB9 381
ON Semiconductor Corporation ON 0.02 96472.6 BBG000DV7MX4 1913
MID-AMERICA APARTMENT COMM MAA 0.02 99767.7 BBG000BLMY92 737
LULULEMON ATHLETICA INC LULU 0.02 105798 BBG000R8ZVD1 580
CDW CORP/DE CDW 0.02 93970.7 BBG001P63B80 657
CLOROX COMPANY CLX 0.02 123861 BBG000BFS7D3 1164
KIMCO REALTY CORP KIM 0.02 98966.7 BBG000CN3S73 4830
Omega Healthcare Investors Inc OHI 0.02 99566.9 BBG000BGBTC2 2173
ARM HOLDINGS PLC ARM 0.02 86136.4 BBG01J1GXZF0 638
TRADE DESK INC/THE -CLASS A TTD 0.02 86126.1 BBG00629NGT2 2176
INVITATION HOMES INC REIT USD.01 INVH 0.02 98793.5 BBG00FQH6BS9 3555
W. P. CAREY REIT INC WPC 0.02 99380.7 BBG000BCQM58 1478
AO Smith Corp AOS 0.01 49845.1 BBG000BC1L02 755
JOHNSON & JOHNSON JNJ 0.01 49692.3 BBG000BMHYD1 242
MCDONALDS CORP MCD 0.01 48874.8 BBG000BNSZP1 161
AIR PRODUCTS & CHEMICALS INC APD 0.01 50346 BBG000BC4JJ4 193
CONSOLIDATED EDISON INC ED 0.01 49233.6 BBG000BHLYS1 503
Solstice Advanced Materials Inc. SOLSV 0.00 6931.33 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.