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 11/10/2025
TICKER RAA
NET ASSETS $499M
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 $27.71
30 DAY MEDIAN BID-ASK SPREAD 0.001081

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 3.44% 3.44% 6.54% 6.54% - - 9.50% 9.50%
RAA - Market Price 3.45% 3.45% 6.40% 6.40% - - 9.52% 9.52%
S&P 500 Index Total Return 3.65% 3.65% 8.12% 8.12% - - 13.18% 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 11/10/2025

NET ASSET VALUE

$27.71

CLOSING PRICE

$27.71

PREMIUM/DISCOUNT

0.00%
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 21
Discount 0 0 5 13 5

Asset Allocation

As of 11/10/2025

Equities

47.73%
Nasdaq
21.70%
US Large Cap
14.96%
Dividend Payers
3.07%
US Small Cap
3.01%
Japan
2.00%
Emerging Ex. China
1.99%
Europe
1.00%

Fixed Income

30.07%
Corporate Bonds
7.99%
Long Term Treasuries
6.96%
High Yield
6.01%
Emerging Mkt Bonds
3.99%
TIPS
3.98%
T-Bills
1.14%

Alternatives

22.20%
Gold
6.16%
Managed Futures
5.00%
Miners
4.06%
Bitcoin
2.97%
Real Estate
1.98%
Energy
1.02%
Commodities
1.01%

Holdings

As of 11/10/2025
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.96 74705200 BBG00RYR67P4 571053
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 7.99 39902000 BBG000PWYVH7 476555
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.96 34774300 BBG00PZFJPC3 1075270
SPROTT PHYSICAL GOLD TRUS PHYS 6.16 30783400 BBG000Q83F79 984439
Schwab High Yield Bond ETF SCYB 6.01 30001300 BBG01F80WX71 1134690
iM DBi Managed Futures Strategy ETF DBMF 5.00 24979300 N/A 877389
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.99 19906300 BBG000NXKWH0 206840
SCHWAB U.S. TIPS ETF SCHP 3.98 19882000 BBG000BGN6P5 741035
VANGUARD SMALL-CAP ETF VB 3.01 15032400 BBG000HT3Z79 58893
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.97 14835800 N/A 316126
NVIDIA CORP NVDA 2.09 10427200 BBG000BBJQV0 52385
Franklin FTSE Japan ETF FLJP 2.00 9998110 BBG00J3MDY16 278965
ISHARES MSCI EMR MRK EX CHNA EMXC 1.99 9951060 BBG00H5VLMJ6 137769
APPLE INC AAPL 1.81 9063620 BBG000B9XRY4 33640
MICROSOFT CORP MSFT 1.76 8791240 BBG000BPH459 17374
Broadcom Inc. AVGO 1.25 6218420 BBG00KHY5S69 17351
AMAZON.COM INC AMZN 1.14 5680910 BBG000BVPV84 22870
ISHARES MSCI GLOBAL METALS & PICK 1.04 5181210 BBG002GKR8T5 112196
INVESCO OPTIMUM YIELD DIVERS PDBC 1.01 5050070 N/A 366478
Franklin FTSE Europe ETF FLEE 1.00 4990900 BBG00J3PR1S7 140865
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.99 4951480 BBG01922X0X9 99228
Tesla Inc. TSLA 0.74 3682500 BBG000N9MNX3 8271
ALPHABET INC-CL C GOOG 0.74 3673930 BBG009S3NB30 12643
ALPHABET INC-CL A GOOGL 0.74 3673250 BBG009S39JX6 12662
META PLATFORMS INC META 0.72 3609880 BBG000MM2P62 5714
NETFLIX INC NFLX 0.54 2674730 BBG000CL9VN6 2388
BHP GROUP LTD BHP 0.52 2615920 BBG000BD5NZ4 46830
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.48 2393790 BBG000N7QR55 12364
COSTCO WHOLESALE CORP COST 0.46 2294390 BBG000F6H8W8 2506
ADVANCED MICRO DEVICES INC AMD 0.45 2260470 BBG000BBQCY0 9265
ISHARES MSCI GLOBAL GOLD MIN RING 0.44 2179460 BBG002GKR6T9 33525
NEWMONT GOLDCORP CORPORATION COM NEM 0.37 1862990 BBG000BPWXK1 21108
AGNICO EAGLE MINES LTD AEM 0.32 1589030 BBG000DLVDK3 9463
CISCO SYSTEMS INC CSCO 0.31 1567600 BBG000C3J3C9 21745
MICRON TECHNOLOGY INC MU 0.31 1557540 BBG000C5Z1S3 6149
RIO TINTO PLC-SPON ADR RIO 0.29 1449800 BBG000FD28T3 20626
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.29 1450390 BBG00CMNZNK7 1450390
WELLTOWER INC WELL 0.27 1363980 BBG000BKY1G5 7139
T-MOBILE US INC TMUS 0.27 1356890 BBG000NDV1D4 6591
AUTOMATIC DATA PROCESSING ADP 0.27 1338900 BBG000JG0547 5270
REALTY INCOME CORP O 0.25 1259190 BBG000DHPN63 22334
PROLOGIS INC PLD 0.25 1248380 BBG000B9Z0J8 9995
INTUITIVE SURGICAL INC ISRG 0.24 1199070 BBG000BJPDZ1 2081
PEPSICO INC PEP 0.23 1130410 BBG000DH7JK6 7926
LINDE PLC LIN 0.23 1143800 BBG01FND0CC1 2719
LAM RESH CORP LRCX 0.23 1152110 BBG000BNFLM9 6925
APPLOVIN CORP APP 0.23 1158050 BBG006HFPX77 1778
Barrick Mining Corp. B 0.23 1149550 N/A 33033
SHOPIFY INC - CLASS A SHOP 0.22 1090550 BBG008HBD923 6864
QUALCOMM INC QCOM 0.22 1100110 BBG000CGC1X8 6412
APPLIED MATERIALS INC AMAT 0.21 1038820 BBG000BBPFB9 4419
INTUIT INC INTU 0.21 1066140 BBG000BH5DV1 1632
FREEPORT-MCMORAN INC FCX 0.21 1071700 BBG000BJDB15 26171
FASTENAL CO FAST 0.20 986280 BBG000BJ8YN7 23852
INTEL CORP INTC 0.19 931682 BBG000C0G1D1 24231
CHEVRON CORP CVX 0.19 954913 BBG000K4ND22 6135
AMGEN INC AMGN 0.19 969362 BBG000BBS2Y0 2995
KENVUE INC KVUE 0.18 876668 BBG01C79X561 52276
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.18 880173 BBG000PVRDL2 8603
GLENCORE PLC -UNSP ADR GLNCY 0.18 898219 BBG001VKX1Z1 93662
EQUINIX INC EQIX 0.18 887755 BBG000MBDGM6 1072
KLA CORPORATION KLAC 0.18 898847 BBG000BMTFR4 738
BOOKING HOLDINGS INC BKNG 0.18 922262 BBG000BLBVN4 186
TEXAS INSTRUMENTS INC TXN 0.17 863920 BBG000BVV7G1 5380
GILEAD SCIENCES INC GILD 0.17 828704 BBG000CKGBP2 7014
ADOBE SYSTEMS INC ADBE 0.17 826071 BBG000BB5006 2512
PALO ALTO NETWORKS INC PANW 0.16 813324 BBG0014GJCT9 3756
HORMEL FOODS CORP HRL 0.16 774475 BBG000BLF8D2 34965
AMCOR PLC AMCR 0.16 799484 BBG00LNJRQ09 94838
HONEYWELL INTERNATIONAL INC HON 0.15 748791 BBG000H556T9 3819
SIMON PROPERTY GROUP INC SPG 0.15 733589 BBG000BJ2D31 4010
ILLINOIS TOOL WORKS ITW 0.15 746245 BBG000BMBL90 3055
TARGET CORP TGT 0.15 726929 BBG000H8TVT2 8012
MEDTRONIC PLC MDT 0.15 758237 BBG000BNWG87 8183
FRANKLIN RESOURCES INC BEN 0.15 736201 BBG000BD0TF8 32691
T ROWE PRICE GROUP INC TROW 0.15 750664 BBG000BVMPN3 7288
EVERSOURCE ENERGY ES 0.15 731046 BBG000BQ87N0 10082
Crowdstrike Holdings Inc. Class A CRWD 0.15 768276 BBG00BLYKS03 1378
STANLEY BLACK & DECKER INC SWK 0.15 737489 BBG000BTQR96 10855
Anglo American PLC NGLOD 0.15 773168 N/A 41368
GENUINE PARTS CO GPC 0.14 703399 BBG000BKL348 5620
CLOROX COMPANY CLX 0.14 692420 BBG000BFS7D3 6614
ABBVIE INC ABBV 0.14 693529 BBG0025Y4RY4 3171
FRANCO-NEVADA CORP FNV 0.13 665379 BBG000RD3CL8 3415
CONSTELLATION ENERGY CORPORATION CEG 0.13 649313 BBG014KFRNP7 1799
AIR PRODUCTS & CHEMICALS INC APD 0.13 672435 BBG000BC4JJ4 2602
DIGITAL REALTY TRUST INC DLR 0.13 639783 BBG000Q5ZRM7 3781
International Business Machines Corporation IBM 0.13 640826 BBG000BLNNH6 2073
ANALOG DEVICES INC ADI 0.13 663984 BBG000BB6G37 2862
PUBLIC STORAGE PSA 0.12 578294 BBG000BPPN67 2120
VERTEX PHARMACEUTICALS INC VRTX 0.12 602316 BBG000C1S2X2 1430
COMCAST CORP-CLASS A CMCSA 0.12 596857 BBG000BFT2L4 22008
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.11 539216 BBG000BRK7L6 12505
EQT CORP EQT 0.11 558162 BBG000BHZ5J9 9470
STARBUCKS CORP SBUX 0.11 567243 BBG000CTQBF3 6705
MERCADOLIBRE INC MELI 0.11 569035 BBG000GQPB11 272
CANADIAN NATURAL RESOURCES CNQ 0.10 497508 BBG000HW5GX3 15552
WILLIAMS COMPANIES INC. WMB 0.10 522251 BBG000BWVCP8 8618
OCCIDENTAL PETROLEUM CORP OXY 0.10 510044 BBG000BQQ2S6 12202
CADENCE DESIGN SYS INC CDNS 0.10 524001 BBG000C13CD9 1593
SCHLUMBERGER LTD SLB 0.10 504781 BBG000BT41Q8 13676
EXXON MOBIL CORP XOM 0.10 512129 BBG000GZQ728 4332
Cheniere Energy Inc LNG 0.10 496508 BBG000C3HSR0 2347
MARATHON PETROLEUM CORP MPC 0.10 498362 BBG001DCCGR8 2538
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.10 521717 BBG00LBLDDR2 3777
ASML HOLDING NV-NY REG SHS ASML 0.10 484076 BBG000K6MRN4 466
Ventas Inc. VTR 0.09 456656 BBG000FRVHB9 6011
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 436275 BBG000D4LWF6 7756
Marriott International, Inc Class A MAR 0.09 459814 BBG000BGD7W6 1583
CINTAS CORP CTAS 0.09 429224 BBG000H3YXF8 2317
DOORDASH INC CLASS A DASH 0.09 474078 BBG005D7QCJ3 2323
VICI PROPERTIES INC REIT VICI 0.09 460862 BBG00HVVB499 15145
SYNOPSYS INC SNPS 0.09 434835 BBG000BSFRF3 1085
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.09 448716 BBG00ZXBJ153 4813
OREILLY AUTOMOTIVE INC ORLY 0.09 473332 BBG000BGYWY6 4825
MICROSTRATEGY INC-CL A MSTR 0.08 410157 BBG000GQJPZ0 1717
MONSTER BEVERAGE CORP MNST 0.08 402392 BBG008NVB1C0 5746
IRON MOUNTAIN INC IRM 0.08 401338 BBG000KCZPC3 3922
EXTRA SPACE STORAGE INC EXR 0.08 384584 BBG000PV27K3 2947
PAYPAL HOLDINGS INC PYPL 0.07 362454 BBG0077VNXV6 5471
AMERICAN ELECTRIC POWER AEP 0.07 351502 BBG000BB9KF2 2868
CINCINNATI FINANCIAL CORP CINF 0.07 359424 BBG000BFPK65 2160
REGENERON PHARMACEUTICALS REGN 0.07 337846 BBG000C734W3 516
AVALONBAY COMMUNITIES INC AVB 0.07 351379 BBG000BLPBL5 1988
IDEXX LABS IDXX 0.07 332088 BBG000BLRT07 468
CSX CORP CSX 0.07 366266 BBG000BGJRC8 10429
THOMSON REUTERS CORP COMMON STOCK TRI 0.07 354839 N/A 2617
AUTODESK INC ADSK 0.07 368620 BBG000BM7HL0 1234
FORTINET INC FTNT 0.07 352405 BBG000BCMBG4 4283
Datadog Inc. Class A DDOG 0.07 361094 BBG003NJHZT9 1808
ROPER TECHNOLOGIES INC ROP 0.06 286985 BBG000F1ZSN5 638
PACCAR INC PCAR 0.06 295653 BBG000BQVTF5 2987
Warner Bros Discovery Inc WBD 0.06 313746 BBG011386VF4 13653
EQUITY RESIDENTIAL EQR 0.06 293979 BBG000BG8M31 4940
Zscaler Inc. ZS 0.06 290090 BBG003338H34 882
AIRBNB INC ABNB 0.06 291124 BBG001Y2XS07 2422
NXP Semiconductors NV NXPI 0.06 315080 BBG000BND699 1536
J M Smucker Co COM STK NPV SJM 0.06 299223 BBG000BT1715 2791
WORKDAY INC-CLASS A WDAY 0.06 288382 BBG000VC0T95 1265
ROSS STORES INC ROST 0.06 302143 BBG000BSBZH7 1866
ASTRAZENECA PLC-SPONS ADR AZN 0.06 290259 BBG000BZ0DK8 3318
ELECTRONIC ARTS INC EA 0.06 285988 BBG000BP0KQ8 1420
XCEL ENERGY INC XEL 0.05 258486 BBG000BCTQ65 3215
PAYCHEX INC PAYX 0.05 238902 BBG000BQSQ38 2143
EXELON CORP EXC 0.05 263986 BBG000J6XT05 5807
Baker Hughes Company BKR 0.05 263569 BBG00GBVBK51 5401
AXON ENTERPRISE INC AXON 0.05 258433 BBG000BHJWG1 442
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.05 242720 BBG000BS1YV5 1037
COPART INC CPRT 0.05 234422 BBG000BM9RH1 5661
INVITATION HOMES INC REIT USD.01 INVH 0.05 245070 BBG00FQH6BS9 8740
DIAMONDBACK ENERGY INC FANG 0.05 233594 BBG002PHSYX9 1614
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 235334 BBG00B6BFWH9 2579
Sun Communities Inc SUI 0.04 203532 BBG000BLJWF3 1617
MICROCHIP TECHNOLOGY INC MCHP 0.04 175594 BBG000BHCP19 3169
REGENCY CENTERS CORP REG 0.04 200457 BBG000BL46Q4 2860
ESSEX PROPERTY TRUST INC ESS 0.04 206819 BBG000CGJMB9 795
VERISK ANALYTICS INC VRSK 0.04 181851 BBG000BCZL41 854
MID-AMERICA APARTMENT COMM MAA 0.04 199637 BBG000BLMY92 1541
COSTAR GROUP INC CSGP 0.04 179302 BBG000D7JKW9 2667
KIMCO REALTY CORP KIM 0.04 192444 BBG000CN3S73 9466
CONSOLIDATED EDISON INC ED 0.04 213279 BBG000BHLYS1 2171
COGNIZANT TECH SOLUTIONS-A CTSH 0.04 187593 BBG000BBDV81 2574
KEURIG DR PEPPER INC KDP 0.04 206296 BBG000TJM7F0 7898
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 192665 BBG01BFR8YV1 2622
W. P. CAREY REIT INC WPC 0.04 203522 BBG000BCQM58 3044
AO Smith Corp AOS 0.03 147559 BBG000BC1L02 2230
KRAFT HEINZ CO/THE KHC 0.03 162639 BBG005CPNTQ2 6671
Old Dominion Freight Line Inc. ODFL 0.03 164348 BBG000CHSS88 1193
ATLASSIAN CORP PLC-CLASS A TEAM 0.03 151492 BBG01BGWHFR5 952
PPG INDUSTRIES INC PPG 0.03 146677 BBG000BRJ809 1529
CHARTER COMMUNICATIONS INC-A CHTR 0.03 169412 BBG000VPGNR2 805
BIOGEN INC BIIB 0.03 125477 BBG000C17X76 803
JOHNSON & JOHNSON JNJ 0.03 148279 BBG000BMHYD1 787
MCDONALDS CORP MCD 0.03 147157 BBG000BNSZP1 492
GLOBALFOUNDRIES INC GFS 0.02 104933 BBG000C2L5G9 3031
ON Semiconductor Corporation ON 0.02 114749 BBG000DV7MX4 2364
LULULEMON ATHLETICA INC LULU 0.02 121460 BBG000R8ZVD1 713
CDW CORP/DE CDW 0.02 109919 BBG001P63B80 767
ARM HOLDINGS PLC ARM 0.02 122788 BBG01J1GXZF0 793
TRADE DESK INC/THE -CLASS A TTD 0.02 115807 BBG00629NGT2 2677
DEXCOM INC DXCM 0.02 123061 BBG000QTF8K1 2244
Solstice Advanced Materials Inc. SOLSV 0.00 6854.35 BBG01X5744P5 145.25
Cash & Other Cash&Other -0.17 -866644 N/A -866644

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.