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 08/24/2026
TICKER RAA
NET ASSETS $618M
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 $30.43
30 DAY MEDIAN BID-ASK SPREAD 0.000683

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 16.01% NA NA 14.22%
RAA - Market Price 16.17% NA NA 14.27%
S&P 500 Index Total Return 19.56% NA NA 18.87%
1 MO 3 MO YTD Since Inception
RAA - NAV -0.15% -2.77% 0.18% 7.07% 7.63% 7.79% 14.22% 15.31%
RAA - Market Price -0.16% -2.70% 0.16% 7.15% 7.66% 7.83% 14.27% 15.38%
S&P 500 Index Total Return -0.06% -0.95% 4.19% 15.20% 10.14% 10.21% 18.87% 20.23%
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 08/24/2026

NET ASSET VALUE

$30.43

CLOSING PRICE

$30.44

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 21
Discount 13 16 8 14 10

Asset Allocation

As of 8/24/2026

Equities

39.83%
Nasdaq
16.00%
US Large Cap
9.92%
Dividend Payers
4.93%
Emerging Ex. China
3.03%
US Small Cap
2.98%
Japan
1.98%
Europe
0.99%

Fixed Income

24.63%
Long Term Treasuries
5.87%
High Yield
5.85%
Corporate Bonds
3.89%
Emerging Mkt Bonds
3.89%
TIPS
2.91%
T-Bills
2.22%

Alternatives

35.54%
Managed Futures
10.74%
Commodities
9.17%
Energy
5.11%
Real Estate
3.74%
Miners
3.25%
Bitcoin
2.42%
Gold
1.11%

Holdings

As of 08/24/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 9.92 61261800 BBG00RYR67P4 1255110
iM DBi Managed Futures Strategy ETF DBMF 9.35 57796100 N/A 1849480
INVESCO OPTIMUM YIELD DIVERS PDBC 9.17 56643600 N/A 3066790
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.87 36245800 BBG00PZFJPC3 1204580
SCHWAB HIGH YIELD BOND ETF SCYB 5.85 36169800 BBG01F80WX71 1389010
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.89 24019000 BBG000NXKWH0 253231
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.89 24018000 BBG000PWYVH7 295898
ISHARES MSCI EMR MRK EX CHNA EMXC 3.03 18717400 BBG00H5VLMJ6 194245
VANGUARD SMALL-CAP ETF VB 2.98 18404500 BBG000HT3Z79 60761
SCHWAB U.S. TIPS ETF SCHP 2.91 17974200 BBG000BGN6P5 691583
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.42 14959500 N/A 429378
Franklin FTSE Japan ETF FLJP 1.98 12244600 BBG00J3MDY16 302484
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.94 11955000 BBG01922X0X9 239196
Simplify DBi CTA Managed Futures Index ETF SDMF 1.39 8605470 BBG020BR8WR7 331121
APPLE INC AAPL 1.30 8051150 BBG000B9XRY4 25943
NVIDIA CORP NVDA 1.27 7855940 BBG000BBJQV0 37682
SPROTT PHYSICAL GOLD TRUS PHYS 1.11 6873520 BBG000Q83F79 194552
Franklin FTSE Europe ETF FLEE 0.99 6111200 BBG00J3PR1S7 151587
MICROSOFT CORP MSFT 0.91 5606500 BBG000BPH459 11505
MICRON TECHNOLOGY INC MU 0.77 4776120 BBG000C5Z1S3 5246
BHP GROUP LTD BHP 0.74 4575020 BBG000BD5NZ4 47102
CHEVRON CORP CVX 0.64 3965330 BBG000K4ND22 19525
AMAZON.COM INC AMZN 0.63 3920310 BBG000BVPV84 14959
MARATHON PETROLEUM CORP MPC 0.56 3453730 BBG001DCCGR8 9527
WELLTOWER INC WELL 0.55 3390140 BBG000BKY1G5 14125
ADVANCED MICRO DEVICES INC AMD 0.54 3316880 BBG000BBQCY0 7262
SCHLUMBERGER LTD SLB 0.53 3253930 BBG000BT41Q8 60258
Cheniere Energy Inc LNG 0.52 3186400 BBG000C3HSR0 11348
CANADIAN NATURAL RESOURCES CNQ 0.51 3174090 BBG000HW5GX3 62630
OCCIDENTAL PETROLEUM CORP OXY 0.51 3171220 BBG000BQQ2S6 52757
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.51 3171090 BBG023CY9MM1 19330
EQT CORP EQT 0.49 3028590 BBG000BHZ5J9 56304
Suncor Energy Inc. SU 0.49 3000260 BBG000BC1LY5 44534
ALPHABET INC-CL A GOOGL 0.49 3050050 BBG009S39JX6 8763
WILLIAMS COMPANIES INC. WMB 0.48 2966120 BBG000BWVCP8 41794
REALTY INCOME CORP O 0.47 2899120 BBG000DHPN63 45894
ALPHABET INC-CL C GOOG 0.46 2844940 BBG009S3NB30 8256
Tesla Inc. TSLA 0.44 2746590 BBG000N9MNX3 7871
PROLOGIS INC PLD 0.44 2717960 BBG000B9Z0J8 18959
Broadcom Inc. AVGO 0.44 2694290 BBG00KHY5S69 7510
NEWMONT GOLDCORP CORPORATION COM NEM 0.43 2686240 BBG000BPWXK1 20375
META PLATFORMS INC META 0.42 2610620 BBG000MM2P62 4670
WAL-MART STORES INC WMT 0.37 2285060 BBG000BWXBC2 21458
EQUINIX INC EQIX 0.36 2207480 BBG000MBDGM6 2092
FREEPORT-MCMORAN INC FCX 0.35 2144630 BBG000BJDB15 27566
AUTOMATIC DATA PROCESSING ADP 0.34 2101070 BBG000JG0547 7424
AGNICO EAGLE MINES LTD AEM 0.33 2053610 BBG000DLVDK3 9425
PEPSICO INC PEP 0.32 1980100 BBG000DH7JK6 13687
RIO TINTO PLC-SPON ADR RIO 0.32 1993920 BBG000FD28T3 19026
INTEL CORP INTC 0.31 1905760 BBG000C0G1D1 21840
COSTCO WHOLESALE CORP COST 0.31 1887430 BBG000F6H8W8 1943
CISCO SYSTEMS INC CSCO 0.30 1871600 BBG000C3J3C9 16979
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1798480 BBG000N7QR55 10225
CLOROX COMPANY CLX 0.27 1673250 BBG000BFS7D3 15613
LAM RESH CORP LRCX 0.27 1644210 BBG000BNFLM9 5301
SIMON PROPERTY GROUP INC SPG 0.27 1653270 BBG000BJ2D31 7490
APPLIED MATERIALS INC AMAT 0.26 1614770 BBG000BBPFB9 3335
MEDTRONIC PLC MDT 0.26 1622680 BBG000BNWG87 17467
DIGITAL REALTY TRUST INC DLR 0.26 1594940 BBG000Q5ZRM7 8459
AMCOR PLC COMMON STOCK USD.01 AMCR 0.26 1597610 N/A 33346
PUBLIC STORAGE PSA 0.25 1554980 BBG000BPPN67 4785
AO Smith Corp AOS 0.25 1559780 BBG000BC1L02 24869
EQUITY RESIDENTIAL EQR 0.25 1524290 BBG000BG8M31 22369.9
NETFLIX INC NFLX 0.25 1533710 BBG000CL9VN6 19169
FRANKLIN RESOURCES INC BEN 0.25 1514140 BBG000BD0TF8 43736
STANLEY BLACK & DECKER INC SWK 0.25 1538920 BBG000BTQR96 15622
ABBVIE INC ABBV 0.25 1567810 BBG0025Y4RY4 5927
Barrick Mining Corp ABX 0.25 1559080 N/A 32373
KENVUE INC KVUE 0.24 1504390 BBG01C79X561 77426
Kimberly-Clark Corp KMB 0.24 1513070 BBG000BMW2Z0 13586
T ROWE PRICE GROUP INC TROW 0.24 1491680 BBG000BVMPN3 13283
GENUINE PARTS CO GPC 0.23 1428820 BBG000BKL348 10530
HORMEL FOODS CORP HRL 0.23 1430950 BBG000BLF8D2 59400
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.23 1393650 BBG000PVRDL2 8700
PPG INDUSTRIES INC PPG 0.22 1337470 BBG000BRJ809 11812
EVERSOURCE ENERGY ES 0.22 1352900 BBG000BQ87N0 18988
International Business Machines Corporation IBM 0.22 1373990 BBG000BLNNH6 5947
Ventas Inc. VTR 0.22 1373820 BBG000FRVHB9 14698
GLENCORE PLC -UNSP ADR GLNCY 0.21 1319160 BBG001VKX1Z1 81581
PALO ALTO NETWORKS INC PANW 0.20 1258330 BBG0014GJCT9 3586
ILLINOIS TOOL WORKS ITW 0.19 1181230 BBG000BMBL90 4160
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.19 1146060 N/A 40255
SPACE EXPLORATION TECH CORP A SPCX 0.19 1181380 BBG000NQF3Z5 8751
ERIE INDEMNITY COMPANY-CL A ERIE 0.18 1136620 BBG000BBTJZ1 4231
TEXAS INSTRUMENTS INC TXN 0.17 1059060 BBG000BVV7G1 4090
AMGEN INC AMGN 0.17 1030600 BBG000BBS2Y0 2322
LINDE PLC LIN 0.17 1040330 BBG01FND0CC1 2123
NUCOR CORP NUE 0.16 1018190 BBG000BQ8KV2 4162
IRON MOUNTAIN INC IRM 0.16 993394 BBG000KCZPC3 8197
FRANCO-NEVADA CORP FNV 0.16 979762 BBG000TRN6Z1 3627
KLA CORPORATION KLAC 0.16 980296 BBG000BMTFR4 5399
SANDISK CORP/DE SNDKV SNDK 0.16 977994 BBG01R388JG1 655
EXTRA SPACE STORAGE INC EXR 0.15 940680 BBG000PV27K3 6432
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 845851 BBG00ZXBJ153 3689
Crowdstrike Holdings Inc. Class A CRWD 0.14 835369 BBG00BLYKS03 4381
VICI PROPERTIES INC REIT VICI 0.14 855675 BBG00HVVB499 31952
T-MOBILE US INC TMUS 0.14 895021 BBG000NDV1D4 4901
VALE SA-SP ADR VALE 0.13 773131 BBG000BN5LG7 51405
GILEAD SCIENCES INC GILD 0.13 805749 BBG000CKGBP2 5491
SHOPIFY INC - CLASS A SHOP 0.13 829742 BBG004DW5NB8 5539
ANALOG DEVICES INC ADI 0.13 779457 BBG000BB6G37 2100
QUALCOMM INC QCOM 0.12 763322 BBG000CGC1X8 4815
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.12 746971 BBG0113JGQF0 940
BOOKING HOLDINGS INC BKNG 0.12 721157 BBG000BLBVN4 3380
WESTERN DIGITAL CORP WDC 0.11 650458 BBG000BWNFZ9 1494
ASML HOLDING NV-NY REG SHS ASML 0.11 685611 BBG000K6MRN4 394
VERTEX PHARMACEUTICALS INC VRTX 0.10 617134 BBG000C1S2X2 1127
FASTENAL CO FAST 0.09 581361 BBG000BJ8YN7 11337
INTUITIVE SURGICAL INC ISRG 0.09 565959 BBG000BJPDZ1 1515
ESSEX PROPERTY TRUST INC ESS 0.09 553161 BBG000CGJMB9 1884
STARBUCKS CORP SBUX 0.09 548522 BBG000CTQBF3 5103
INVITATION HOMES INC REIT USD.01 INVH 0.09 550108 BBG00FQH6BS9 18060
Sun Communities Inc SUI 0.08 476687 BBG000BLJWF3 3862
MID-AMERICA APARTMENT COMM MAA 0.08 476846 BBG000BLMY92 3581
ADOBE SYSTEMS INC ADBE 0.08 463581 BBG000BB5006 1678
W. P. CAREY REIT INC WPC 0.08 465198 BBG000BCQM58 6499
HOST HOTELS & RESORTS INC HST 0.07 440239 BBG000BL8804 18984
ARM HOLDINGS PLC ARM 0.07 461801 BBG01J1GXZF0 1934
COMCAST CORP-CLASS A CMCSA 0.07 403436 BBG000BFT2L4 14931
CONSTELLATION ENERGY CORPORATION CEG 0.07 431746 BBG014KFRNP7 1579
Marriott International, Inc Class A MAR 0.07 401623 BBG000BGD7W6 1115
DOORDASH INC CLASS A DASH 0.07 417118 BBG005D7QCJ3 1821
KIMCO REALTY CORP KIM 0.07 454391 BBG000CN3S73 18761
MONSTER BEVERAGE CORP MNST 0.07 423647 BBG008NVB1C0 8660
MERCADOLIBRE INC MELI 0.07 432434 BBG000GQPB11 222
INTUIT INC INTU 0.07 420969 BBG000BH5DV1 1138
CSX CORP CSX 0.07 425615 BBG000BGJRC8 8274
FORTINET INC FTNT 0.07 451106 BBG000BCMBG4 2968
APPLOVIN CORP APP 0.07 409068 BBG006HFPX77 1370
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 372996 BBG000D4LWF6 5765
CADENCE DESIGN SYS INC CDNS 0.06 389529 BBG000C13CD9 1233
ROSS STORES INC ROST 0.06 343924 BBG000BSBZH7 1424
AIRBNB INC ABNB 0.06 374143 BBG001Y2XS07 1967
REGENERON PHARMACEUTICALS REGN 0.06 389395 BBG000C734W3 470
CINTAS CORP CTAS 0.06 362328 BBG000H3YXF8 1747
Datadog Inc. Class A DDOG 0.06 347234 BBG003NJHZT9 1538
PACCAR INC PCAR 0.05 291066 BBG000BQVTF5 2240
Warner Bros Discovery Inc WBD 0.05 327036 BBG011386VF4 11395
NXP Semiconductors NV NXPI 0.05 280274 BBG000BND699 1260
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 329476 BBG000B9ZXB4 2824
SYNOPSYS INC SNPS 0.05 305351 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 300339 BBG000BNSZP1 1102
CONSOLIDATED EDISON INC ED 0.05 293941 BBG000BHLYS1 2729
OREILLY AUTOMOTIVE INC ORLY 0.05 302871 BBG000BGYWY6 3340
AMERICAN ELECTRIC POWER AEP 0.05 282750 BBG000BB9KF2 2318
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 313349 BBG022XF4SZ9 1459
XCEL ENERGY INC XEL 0.04 235547 BBG000BCTQ65 3046
PAYPAL HOLDINGS INC PYPL 0.04 257391 BBG0077VNXV6 4173
Baker Hughes Company BKR 0.04 244531 BBG00GBVBK51 3945
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 267286 BBG000C30L48 208
TERADYNE INC TER 0.04 228062 BBG000BV4DR6 625
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.04 235171 BBG00CMNZNK7 235171
AUTODESK INC ADSK 0.04 259508 BBG000BM7HL0 1020
DIAMONDBACK ENERGY INC FANG 0.04 242608 BBG002PHSYX9 1180
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 235786 BBG00LBLDDR2 2708
LUMENTUM HOLDINGS INC LITE 0.04 271466 BBG0073F9RT7 327
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 239951 BBG00B6BFWH9 2179
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 231000 BBG020QYV152 1433
PAYCHEX INC PAYX 0.03 193551 BBG000BQSQ38 1536
MICROCHIP TECHNOLOGY INC MCHP 0.03 176026 BBG000BHCP19 2372
ROPER TECHNOLOGIES INC ROP 0.03 189888 BBG000F1ZSN5 457
ASTERA LABS INC ALAB 0.03 207870 BBG00TDKHW99 749
AXON ENTERPRISE INC AXON 0.03 203778 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 169848 BBG000CHSS88 843
IDEXX LABS IDXX 0.03 180162 BBG000BLRT07 322
EXELON CORP EXC 0.03 172704 BBG000J6XT05 3895
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 172790 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 186315 BBG000TJM7F0 5731
FERROVIAL SA FER 0.03 171524 BBG01H0DF657 2733.88
Nebius Group NV NBIS 0.03 198044 BBG001NVJ6W4 939
MICROSTRATEGY INC-CL A MSTR 0.03 156108 BBG000GQJPZ0 1273
ROCKET LAB CORP RKLB 0.03 187497 BBG01V7JN3F3 2746
THOMSON REUTERS CORP TRI 0.03 199426 N/A 1836
KRAFT HEINZ CO/THE KHC 0.02 118056 BBG005CPNTQ2 4599
WORKDAY INC-CLASS A WDAY 0.02 148765 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 138302 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 130278 BBG01BFR8YV1 1756
COREWEAVE INC CRWV 0.02 142571 BBG011ZTRJ21 1653
COPART INC CPRT 0.02 136599 BBG000BM9RH1 4107
DEXCOM INC DXCM 0.02 130398 BBG000QTF8K1 1432
Cash & Other Cash&Other -0.01 -59332.2 N/A -59332.2

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.