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 06/30/2026
TICKER RAA
NET ASSETS $589M
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 $29.46
30 DAY MEDIAN BID-ASK SPREAD 0.000678

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 3.18% -3.97% 5.74% 0.68% 10.86% 0.68% 19.02% 11.92%
RAA - Market Price 3.12% -3.98% 5.76% 0.63% 10.84% 0.63% 19.02% 11.89%
S&P 500 Index Total Return 5.26% -4.98% 10.52% -4.33% 11.27% -4.33% 22.66% 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 06/30/2026

NET ASSET VALUE

$29.46

CLOSING PRICE

$29.49

PREMIUM/DISCOUNT

0.08%
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 0
Discount 13 16 8 14 0

Asset Allocation

As of 6/30/2026

Equities

40.72%
Nasdaq
15.94%
US Large Cap
9.94%
Emerging Ex. China
4.00%
Dividend Payers
3.83%
US Small Cap
3.00%
Europe
2.01%
Japan
2.00%

Fixed Income

0.00%
High Yield
5.94%
Corporate Bonds
5.92%
Long Term Treasuries
5.92%
Emerging Mkt Bonds
3.96%
TIPS
2.96%
T-Bills
0.00%

Alternatives

31.96%
Managed Futures
7.00%
Commodities
6.97%
Miners
6.00%
Energy
3.98%
Gold
3.97%
Real Estate
2.04%
Bitcoin
2.00%

Holdings

As of 06/30/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.94 58543800 BBG00RYR67P4 409475
INVESCO OPTIMUM YIELD DIVERS PDBC 6.97 41082100 N/A 2587030
SCHWAB HIGH YIELD BOND ETF SCYB 5.94 35017800 BBG01F80WX71 1345260
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.92 34892300 BBG000PWYVH7 425636
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.92 34860600 BBG00PZFJPC3 1119110
iM DBi Managed Futures Strategy ETF DBMF 5.79 34116400 N/A 1114550
ISHARES MSCI EMR MRK EX CHNA EMXC 4.00 23593400 BBG00H5VLMJ6 230630
SPROTT PHYSICAL GOLD TRUS PHYS 3.97 23374800 BBG000Q83F79 774770
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.96 23344700 BBG000NXKWH0 243090
VANGUARD SMALL-CAP ETF VB 3.00 17676700 BBG000HT3Z79 58316
SCHWAB U.S. TIPS ETF SCHP 2.96 17451300 BBG000BGN6P5 663627
Franklin FTSE Europe ETF FLEE 2.01 11815400 BBG00J3PR1S7 304130
Franklin FTSE Japan ETF FLJP 2.00 11768200 BBG00J3MDY16 296056
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.00 11792400 N/A 454428
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 11752200 BBG01922X0X9 235703
BHP GROUP LTD BHP 1.25 7347780 BBG000BD5NZ4 88198
NVIDIA CORP NVDA 1.21 7120600 BBG000BBJQV0 35587
Simplify DBi CTA Managed Futures Index ETF SDMF 1.21 7121400 BBG020BR8WR7 277854
APPLE INC AAPL 1.05 6207640 BBG000B9XRY4 21453
MICRON TECHNOLOGY INC MU 0.91 5352440 BBG000C5Z1S3 4637
MICROSOFT CORP MSFT 0.70 4115160 BBG000BPH459 11032
NEWMONT GOLDCORP CORPORATION COM NEM 0.68 3997800 BBG000BPWXK1 42803
RIO TINTO PLC-SPON ADR RIO 0.68 4011170 BBG000FD28T3 42254
AMAZON.COM INC AMZN 0.65 3851570 BBG000BVPV84 16160
ADVANCED MICRO DEVICES INC AMD 0.62 3667870 BBG000BBQCY0 6314
FREEPORT-MCMORAN INC FCX 0.54 3166830 BBG000BJDB15 50355
Tesla Inc. TSLA 0.53 3108650 BBG000N9MNX3 7391
AGNICO EAGLE MINES LTD AEM 0.52 3038530 BBG000DLVDK3 19587
ALPHABET INC-CL A GOOGL 0.52 3083750 BBG009S39JX6 8629
CHEVRON CORP CVX 0.51 2987490 BBG000K4ND22 18023
ALPHABET INC-CL C GOOG 0.49 2858440 BBG009S3NB30 8090
GLENCORE PLC -UNSP ADR GLNCY 0.47 2769380 BBG001VKX1Z1 203481
INTEL CORP INTC 0.46 2719290 BBG000C0G1D1 19475
Broadcom Inc. AVGO 0.45 2652560 BBG00KHY5S69 7022
META PLATFORMS INC META 0.43 2516220 BBG000MM2P62 4467
CANADIAN NATURAL RESOURCES CNQ 0.40 2335640 BBG000HW5GX3 59130
EQT CORP EQT 0.40 2333050 BBG000BHZ5J9 43879
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.40 2328850 BBG000BRK7L6 43384
SCHLUMBERGER LTD SLB 0.40 2351600 BBG000BT41Q8 50583
EXXON MOBIL CORP XOM 0.40 2357050 BBG000GZQ728 17240
OCCIDENTAL PETROLEUM CORP OXY 0.39 2311690 BBG000BQQ2S6 47595
Cheniere Energy Inc LNG 0.39 2307160 BBG000C3HSR0 9653
WILLIAMS COMPANIES INC. WMB 0.39 2315690 BBG000BWVCP8 31150
WAL-MART STORES INC WMT 0.39 2300650 BBG000BWXBC2 20313
MARATHON PETROLEUM CORP MPC 0.39 2310490 BBG001DCCGR8 9037
APPLIED MATERIALS INC AMAT 0.38 2249980 BBG000BBPFB9 3112
Barrick Mining Corp. B 0.38 2245160 N/A 61126
LAM RESH CORP LRCX 0.36 2150180 BBG000BNFLM9 4962
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.33 1948140 N/A 78840
CISCO SYSTEMS INC CSCO 0.32 1907320 BBG000C3J3C9 16238
NUCOR CORP NUE 0.31 1817190 BBG000BQ8KV2 8158
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.31 1837780 BBG000PVRDL2 16362
REALTY INCOME CORP O 0.30 1768280 BBG000DHPN63 28539
COSTCO WHOLESALE CORP COST 0.29 1733430 BBG000F6H8W8 1853
VALE SA-SP ADR VALE 0.27 1584780 BBG000BN5LG7 105371
FRANCO-NEVADA CORP FNV 0.26 1539750 BBG000RD3CL8 7387
KLA CORPORATION KLAC 0.26 1533890 BBG000BMTFR4 5084
AUTOMATIC DATA PROCESSING ADP 0.26 1554440 BBG000JG0547 6941
Cash & Other Cash&Other 0.25 1478260 N/A 1478260
WELLTOWER INC WELL 0.25 1488700 BBG000BKY1G5 6559
PROLOGIS INC PLD 0.24 1393040 BBG000B9Z0J8 10283
SANDISK CORP/DE SNDKV SNDK 0.22 1302850 BBG01R388JG1 573
NETFLIX INC NFLX 0.21 1265560 BBG000CL9VN6 17725
KENVUE INC KVUE 0.20 1178360 BBG01C79X561 61662
Kimberly-Clark Corp KMB 0.20 1176840 BBG000BMW2Z0 10721
HORMEL FOODS CORP HRL 0.20 1154580 BBG000BLF8D2 46518
MEDTRONIC PLC MDT 0.20 1164920 BBG000BNWG87 14891
FRANKLIN RESOURCES INC BEN 0.20 1161520 BBG000BD0TF8 34912
CLOROX COMPANY CLX 0.20 1186510 BBG000BFS7D3 12432
PALO ALTO NETWORKS INC PANW 0.20 1173110 BBG0014GJCT9 3440
STANLEY BLACK & DECKER INC SWK 0.20 1172170 BBG000BTQR96 12454
ILLINOIS TOOL WORKS ITW 0.20 1187900 BBG000BMBL90 4392
T ROWE PRICE GROUP INC TROW 0.20 1166910 BBG000BVMPN3 10264
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1178430 N/A 27184
EQUINIX INC EQIX 0.19 1140370 BBG000MBDGM6 1094
EVERSOURCE ENERGY ES 0.19 1123290 BBG000BQ87N0 15543
TEXAS INSTRUMENTS INC TXN 0.18 1083190 BBG000BVV7G1 3634
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.18 1079780 BBG000N7QR55 9255
GENUINE PARTS CO GPC 0.17 1008020 BBG000BKL348 8544
WESTERN DIGITAL CORP WDC 0.17 979158 BBG000BWNFZ9 1533
AO Smith Corp AOS 0.17 1003020 BBG000BC1L02 15992
PPG INDUSTRIES INC PPG 0.17 989969 BBG000BRJ809 8162
LINDE PLC LIN 0.17 976645 BBG01FND0CC1 1882
International Business Machines Corporation IBM 0.17 1018540 BBG000BLNNH6 3622
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.17 995846 BBG00ZXBJ153 3343
ABBVIE INC ABBV 0.17 977621 BBG0025Y4RY4 3885
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.16 958245 BBG0113JGQF0 993
QUALCOMM INC QCOM 0.14 805130 BBG000CGC1X8 4357
AMGEN INC AMGN 0.14 812597 BBG000BBS2Y0 2244
J M Smucker Co COM STK NPV SJM 0.14 847800 BBG000BT1715 7536
Crowdstrike Holdings Inc. Class A CRWD 0.14 815797 BBG00BLYKS03 1069
SIMON PROPERTY GROUP INC SPG 0.14 823256 BBG000BJ2D31 3681
PEPSICO INC PEP 0.13 783831 BBG000DH7JK6 5789
T-MOBILE US INC TMUS 0.13 771558 BBG000NDV1D4 4600
ASML HOLDING NV-NY REG SHS ASML 0.13 779860 BBG000K6MRN4 392
ANALOG DEVICES INC ADI 0.13 793546 BBG000BB6G37 1998
PUBLIC STORAGE PSA 0.12 699645 BBG000BPPN67 2198
DIGITAL REALTY TRUST INC DLR 0.12 719757 BBG000Q5ZRM7 4008
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.12 712363 BBG00CMNZNK7 712363
Ventas Inc. VTR 0.11 652502 BBG000FRVHB9 7348
INTUITIVE SURGICAL INC ISRG 0.11 649014 BBG000BJPDZ1 1632
ERIE INDEMNITY COMPANY-CL A ERIE 0.11 664347 BBG000BBTJZ1 2771
GILEAD SCIENCES INC GILD 0.11 649767 BBG000CKGBP2 5143
APPLOVIN CORP APP 0.11 632702 BBG006HFPX77 1228
SHOPIFY INC - CLASS A SHOP 0.10 616800 BBG008HBD923 5402
IRON MOUNTAIN INC IRM 0.10 567511 BBG000KCZPC3 4493
ARM HOLDINGS PLC ARM 0.10 593196 BBG01J1GXZF0 1673
VERTEX PHARMACEUTICALS INC VRTX 0.10 575710 BBG000C1S2X2 1159
BOOKING HOLDINGS INC BKNG 0.10 577319 BBG000BLBVN4 3239
CADENCE DESIGN SYS INC CDNS 0.08 464271 BBG000C13CD9 1237
FASTENAL CO FAST 0.08 456669 BBG000BJ8YN7 9508
Marriott International, Inc Class A MAR 0.08 454714 BBG000BGD7W6 1227
EXTRA SPACE STORAGE INC EXR 0.08 462635 BBG000PV27K3 3184
STARBUCKS CORP SBUX 0.08 484278 BBG000CTQBF3 4739
FORTINET INC FTNT 0.08 492967 BBG000BCMBG4 3209
VICI PROPERTIES INC REIT VICI 0.08 464678 BBG00HVVB499 17502
COMCAST CORP-CLASS A CMCSA 0.07 407574 BBG000BFT2L4 16828
EQUITY RESIDENTIAL EQR 0.07 417226 BBG000BG8M31 6142
CONSTELLATION ENERGY CORPORATION CEG 0.07 414530 BBG014KFRNP7 1669
MONSTER BEVERAGE CORP MNST 0.07 434559 BBG008NVB1C0 4521
MERCADOLIBRE INC MELI 0.07 392097 BBG000GQPB11 231
CSX CORP CSX 0.07 420403 BBG000BGJRC8 8845
SYNOPSYS INC SNPS 0.07 400571 BBG000BSFRF3 898
AVALONBAY COMMUNITIES INC AVB 0.07 441535 BBG000BLPBL5 2340
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 340331 BBG000D4LWF6 5884
ADOBE SYSTEMS INC ADBE 0.06 360425 BBG000BB5006 1758
NXP Semiconductors NV NXPI 0.06 331615 BBG000BND699 1180
DOORDASH INC CLASS A DASH 0.06 335106 BBG005D7QCJ3 1816
OREILLY AUTOMOTIVE INC ORLY 0.06 361177 BBG000BGYWY6 3922
Datadog Inc. Class A DDOG 0.06 367889 BBG003NJHZT9 1413
AMERICAN ELECTRIC POWER AEP 0.06 350781 BBG000BB9KF2 2564
PACCAR INC PCAR 0.05 292732 BBG000BQVTF5 2437
Warner Bros Discovery Inc WBD 0.05 309123 BBG011386VF4 11595
ASTERA LABS INC ALAB 0.05 309616 BBG00TDKHW99 641
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 309649 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 295672 BBG000CGJMB9 1014
TERADYNE INC TER 0.05 305787 BBG000BV4DR6 632
AIRBNB INC ABNB 0.05 273321 BBG001Y2XS07 1910
ROSS STORES INC ROST 0.05 302460 BBG000BSBZH7 1421
REGENERON PHARMACEUTICALS REGN 0.05 292440 BBG000C734W3 469
INTUIT INC INTU 0.05 315549 BBG000BH5DV1 1209
INVITATION HOMES INC REIT USD.01 INVH 0.05 314093 BBG00FQH6BS9 10397
CINTAS CORP CTAS 0.05 320261 BBG000H3YXF8 1883
LUMENTUM HOLDINGS INC LITE 0.05 284876 BBG0073F9RT7 332
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 322864 BBG022XF4SZ9 1442
XCEL ENERGY INC XEL 0.04 230220 BBG000BCTQ65 2867
MICROCHIP TECHNOLOGY INC MCHP 0.04 228638 BBG000BHCP19 2507
Sun Communities Inc SUI 0.04 239820 BBG000BLJWF3 2000
HOST HOTELS & RESORTS INC HST 0.04 251871 BBG000BL8804 10623
Baker Hughes Company BKR 0.04 252303 BBG00GBVBK51 4546
EXELON CORP EXC 0.04 227086 BBG000J6XT05 4871
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 211483 BBG000BS1YV5 846
MID-AMERICA APARTMENT COMM MAA 0.04 235642 BBG000BLMY92 1696
KEURIG DR PEPPER INC KDP 0.04 208065 BBG000TJM7F0 6357
KIMCO REALTY CORP KIM 0.04 232992 BBG000CN3S73 9191
FERROVIAL SE FER 0.04 227991 BBG01H7CZ9S9 3323
Nebius Group NV NBIS 0.04 228669 BBG001NVJ6W4 828
MCDONALDS CORP MCD 0.04 235440 BBG000BNSZP1 871
DIAMONDBACK ENERGY INC FANG 0.04 229217 BBG002PHSYX9 1304
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 224797 BBG00LBLDDR2 2947
ROCKET LAB CORP RKLB 0.04 237963 BBG01V7JN3F3 2341
W. P. CAREY REIT INC WPC 0.04 236379 BBG000BCQM58 3306
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 214750 BBG00B6BFWH9 2146
ELECTRONIC ARTS INC EA 0.04 230260 BBG000BP0KQ8 1123
PAYCHEX INC PAYX 0.03 154575 BBG000BQSQ38 1572
PAYPAL HOLDINGS INC PYPL 0.03 183558 BBG0077VNXV6 4251
ROPER TECHNOLOGIES INC ROP 0.03 157013 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 203501 BBG000BHJWG1 363
Old Dominion Freight Line Inc. ODFL 0.03 203387 BBG000CHSS88 939
AIR PRODUCTS & CHEMICALS INC APD 0.03 189099 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 191098 BBG000BLRT07 363
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 194274 BBG000B9ZXB4 2141
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 186940 BBG000BFGNJ5 621
AUTODESK INC ADSK 0.03 191698 BBG000BM7HL0 986
CONSOLIDATED EDISON INC ED 0.03 192386 BBG000BHLYS1 1739
THOMSON REUTERS CORP TRI 0.03 156561 N/A 1917
KRAFT HEINZ CO/THE KHC 0.02 131634 BBG005CPNTQ2 5573
WORKDAY INC-CLASS A WDAY 0.02 104792 BBG000VC0T95 856
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 137429 BBG01BFR8YV1 2147
COPART INC CPRT 0.02 125699 BBG000BM9RH1 4459
DEXCOM INC DXCM 0.02 112744 BBG000QTF8K1 1674
MICROSTRATEGY INC-CL A MSTR 0.02 118920 BBG000GQJPZ0 1368
EURO EUR 0.00 1957.3 N/A 1713.03
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 77.46 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 141.15 BBG003338H34 1
INSMED INC INSM 0.00 106.62 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 221.08 BBG020QYV152 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.