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 08/17/2026
TICKER RAA
NET ASSETS $614M
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 $30.34
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 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 08/17/2026

NET ASSET VALUE

$30.34

CLOSING PRICE

$30.34

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 17
Discount 13 16 8 14 10

Asset Allocation

As of 8/17/2026

Equities

40.41%
Nasdaq
16.29%
US Large Cap
10.07%
Dividend Payers
4.87%
Emerging Ex. China
3.10%
US Small Cap
3.04%
Japan
2.05%
Europe
0.99%

Fixed Income

24.63%
High Yield
5.87%
Long Term Treasuries
5.81%
Corporate Bonds
3.89%
Emerging Mkt Bonds
3.89%
TIPS
2.91%
T-Bills
2.26%

Alternatives

34.96%
Managed Futures
10.88%
Commodities
9.07%
Energy
5.06%
Real Estate
3.72%
Miners
3.19%
Bitcoin
1.98%
Gold
1.06%

Holdings

As of 08/17/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.07 61862200 BBG00RYR67P4 1252020
iM DBi Managed Futures Strategy ETF DBMF 9.47 58188800 N/A 1844920
INVESCO OPTIMUM YIELD DIVERS PDBC 9.07 55708700 N/A 3059240
SCHWAB HIGH YIELD BOND ETF SCYB 5.87 36053100 BBG01F80WX71 1385590
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.81 35699900 BBG00PZFJPC3 1201610
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.89 23922100 BBG000NXKWH0 252609
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 3.89 23914700 BBG000PWYVH7 295170
ISHARES MSCI EMR MRK EX CHNA EMXC 3.10 19047300 BBG00H5VLMJ6 193767
VANGUARD SMALL-CAP ETF VB 3.04 18667000 BBG000HT3Z79 60613
SCHWAB U.S. TIPS ETF SCHP 2.91 17854100 BBG000BGN6P5 689881
Franklin FTSE Japan ETF FLJP 2.05 12588600 BBG00J3MDY16 301740
GRAYSCALE BITCN MINI TRU ETF BTC.UP 1.98 12177200 N/A 428322
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.94 11918500 BBG01922X0X9 238608
Simplify DBi CTA Managed Futures Index ETF SDMF 1.41 8657380 BBG020BR8WR7 330307
NVIDIA CORP NVDA 1.38 8458130 BBG000BBJQV0 37590
APPLE INC AAPL 1.29 7908980 BBG000B9XRY4 25881
SPROTT PHYSICAL GOLD TRUS PHYS 1.06 6522830 BBG000Q83F79 194074
Franklin FTSE Europe ETF FLEE 0.99 6056160 BBG00J3PR1S7 151215
MICROSOFT CORP MSFT 0.90 5512980 BBG000BPH459 11477
MICRON TECHNOLOGY INC MU 0.86 5295500 BBG000C5Z1S3 5234
BHP GROUP LTD BHP 0.68 4152150 BBG000BD5NZ4 46986
CHEVRON CORP CVX 0.64 3947990 BBG000K4ND22 19477
AMAZON.COM INC AMZN 0.63 3899530 BBG000BVPV84 14923
ADVANCED MICRO DEVICES INC AMD 0.60 3666480 BBG000BBQCY0 7246
MARATHON PETROLEUM CORP MPC 0.55 3404500 BBG001DCCGR8 9505
WELLTOWER INC WELL 0.54 3315610 BBG000BKY1G5 14091
SCHLUMBERGER LTD SLB 0.53 3237520 BBG000BT41Q8 60110
OCCIDENTAL PETROLEUM CORP OXY 0.51 3107220 BBG000BQQ2S6 52629
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.51 3113590 BBG023CY9MM1 19284
CANADIAN NATURAL RESOURCES CNQ 0.50 3078190 BBG000HW5GX3 62476
WILLIAMS COMPANIES INC. WMB 0.50 3062280 BBG000BWVCP8 41692
Cheniere Energy Inc LNG 0.49 3022180 BBG000C3HSR0 11322
ALPHABET INC-CL A GOOGL 0.49 3007590 BBG009S39JX6 8743
EQT CORP EQT 0.48 2977360 BBG000BHZ5J9 56166
Suncor Energy Inc. SU 0.48 2961440 BBG000BC1LY5 44426
Broadcom Inc. AVGO 0.48 2940090 BBG00KHY5S69 7492
REALTY INCOME CORP O 0.47 2856800 BBG000DHPN63 45782
ALPHABET INC-CL C GOOG 0.46 2812180 BBG009S3NB30 8236
Tesla Inc. TSLA 0.43 2664520 BBG000N9MNX3 7853
META PLATFORMS INC META 0.43 2651400 BBG000MM2P62 4660
PROLOGIS INC PLD 0.43 2659550 BBG000B9Z0J8 18913
NEWMONT GOLDCORP CORPORATION COM NEM 0.40 2445710 BBG000BPWXK1 20325
WAL-MART STORES INC WMT 0.40 2447350 BBG000BWXBC2 21406
INTEL CORP INTC 0.37 2254840 BBG000C0G1D1 21788
EQUINIX INC EQIX 0.37 2291810 BBG000MBDGM6 2088
AUTOMATIC DATA PROCESSING ADP 0.32 1970440 BBG000JG0547 7406
PEPSICO INC PEP 0.31 1887670 BBG000DH7JK6 13655
CISCO SYSTEMS INC CSCO 0.31 1912410 BBG000C3J3C9 16939
FREEPORT-MCMORAN INC FCX 0.31 1880450 BBG000BJDB15 27500
COSTCO WHOLESALE CORP COST 0.30 1848840 BBG000F6H8W8 1939
LAM RESH CORP LRCX 0.30 1818570 BBG000BNFLM9 5289
RIO TINTO PLC-SPON ADR RIO 0.30 1845050 BBG000FD28T3 18980
APPLIED MATERIALS INC AMAT 0.29 1780980 BBG000BBPFB9 3327
AGNICO EAGLE MINES LTD AEM 0.29 1775100 BBG000DLVDK3 9403
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.29 1760180 BBG000N7QR55 10201
CLOROX COMPANY CLX 0.27 1650020 BBG000BFS7D3 15575
DIGITAL REALTY TRUST INC DLR 0.27 1670160 BBG000Q5ZRM7 8439
SIMON PROPERTY GROUP INC SPG 0.27 1656320 BBG000BJ2D31 7472
MEDTRONIC PLC MDT 0.26 1578700 BBG000BNWG87 17425
PUBLIC STORAGE PSA 0.25 1548580 BBG000BPPN67 4775
AO Smith Corp AOS 0.25 1523270 BBG000BC1L02 24809
STANLEY BLACK & DECKER INC SWK 0.25 1552010 BBG000BTQR96 15584
AMCOR PLC COMMON STOCK USD.01 AMCR 0.25 1514510 N/A 33264
KENVUE INC KVUE 0.24 1451260 BBG01C79X561 77236
Kimberly-Clark Corp KMB 0.24 1462610 BBG000BMW2Z0 13554
NETFLIX INC NFLX 0.24 1453730 BBG000CL9VN6 19123
FRANKLIN RESOURCES INC BEN 0.24 1491710 BBG000BD0TF8 43630
T ROWE PRICE GROUP INC TROW 0.24 1463710 BBG000BVMPN3 13251
ABBVIE INC ABBV 0.24 1480200 BBG0025Y4RY4 5913
GENUINE PARTS CO GPC 0.23 1392260 BBG000BKL348 10506
HORMEL FOODS CORP HRL 0.23 1423280 BBG000BLF8D2 59254
EQUITY RESIDENTIAL EQR 0.23 1420630 BBG000BG8M31 22315.9
PPG INDUSTRIES INC PPG 0.22 1336780 BBG000BRJ809 11784
EVERSOURCE ENERGY ES 0.22 1362120 BBG000BQ87N0 18942
PALO ALTO NETWORKS INC PANW 0.22 1344470 BBG0014GJCT9 3578
International Business Machines Corporation IBM 0.22 1357770 BBG000BLNNH6 5933
Barrick Mining Corp ABX 0.22 1373180 N/A 32295
Ventas Inc. VTR 0.22 1336730 BBG000FRVHB9 14662
SPACE EXPLORATION TECH CORP A SPCX 0.21 1276730 BBG000NQF3Z5 8731
GLENCORE PLC -UNSP ADR GLNCY 0.20 1219090 BBG001VKX1Z1 81381
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.19 1185770 BBG000PVRDL2 8680
TEXAS INSTRUMENTS INC TXN 0.19 1154270 BBG000BVV7G1 4080
ILLINOIS TOOL WORKS ITW 0.19 1192210 BBG000BMBL90 4150
SANDISK CORP/DE SNDKV SNDK 0.19 1170390 BBG01R388JG1 655
NUCOR CORP NUE 0.18 1132170 BBG000BQ8KV2 4152
KLA CORPORATION KLAC 0.18 1108430 BBG000BMTFR4 5387
IRON MOUNTAIN INC IRM 0.17 1062190 BBG000KCZPC3 8177
ERIE INDEMNITY COMPANY-CL A ERIE 0.17 1045750 BBG000BBTJZ1 4221
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.17 1075000 N/A 40157
AMGEN INC AMGN 0.16 972123 BBG000BBS2Y0 2318
LINDE PLC LIN 0.16 1005110 BBG01FND0CC1 2119
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 933113 BBG0113JGQF0 938
EXTRA SPACE STORAGE INC EXR 0.15 942740 BBG000PV27K3 6418
Crowdstrike Holdings Inc. Class A CRWD 0.15 934957 BBG00BLYKS03 4371
FRANCO-NEVADA CORP FNV 0.14 863349 BBG000TRN6Z1 3619
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.14 862569 BBG00ZXBJ153 3681
T-MOBILE US INC TMUS 0.14 880607 BBG000NDV1D4 4889
WESTERN DIGITAL CORP WDC 0.13 799727 BBG000BWNFZ9 1492
QUALCOMM INC QCOM 0.13 779275 BBG000CGC1X8 4805
SHOPIFY INC - CLASS A SHOP 0.13 821589 BBG004DW5NB8 5527
VICI PROPERTIES INC REIT VICI 0.13 827449 BBG00HVVB499 31874
ANALOG DEVICES INC ADI 0.13 818027 BBG000BB6G37 2096
GILEAD SCIENCES INC GILD 0.12 761143 BBG000CKGBP2 5479
ASML HOLDING NV-NY REG SHS ASML 0.12 741949 BBG000K6MRN4 394
VALE SA-SP ADR VALE 0.11 705086 BBG000BN5LG7 51279
BOOKING HOLDINGS INC BKNG 0.11 690451 BBG000BLBVN4 3372
INTUITIVE SURGICAL INC ISRG 0.10 590569 BBG000BJPDZ1 1513
FASTENAL CO FAST 0.09 579462 BBG000BJ8YN7 11311
ARM HOLDINGS PLC ARM 0.09 523860 BBG01J1GXZF0 1930
ESSEX PROPERTY TRUST INC ESS 0.09 532153 BBG000CGJMB9 1880
VERTEX PHARMACEUTICALS INC VRTX 0.09 579994 BBG000C1S2X2 1125
STARBUCKS CORP SBUX 0.09 549421 BBG000CTQBF3 5091
INVITATION HOMES INC REIT USD.01 INVH 0.09 534895 BBG00FQH6BS9 18016
Sun Communities Inc SUI 0.08 467721 BBG000BLJWF3 3854
MID-AMERICA APARTMENT COMM MAA 0.08 468492 BBG000BLMY92 3573
FORTINET INC FTNT 0.08 461628 BBG000BCMBG4 2962
W. P. CAREY REIT INC WPC 0.08 463664 BBG000BCQM58 6483
HOST HOTELS & RESORTS INC HST 0.07 431976 BBG000BL8804 18938
CONSTELLATION ENERGY CORPORATION CEG 0.07 438049 BBG014KFRNP7 1577
ADOBE SYSTEMS INC ADBE 0.07 425263 BBG000BB5006 1674
KIMCO REALTY CORP KIM 0.07 455897 BBG000CN3S73 18715
CSX CORP CSX 0.07 417487 BBG000BGJRC8 8254
APPLOVIN CORP APP 0.07 426789 BBG006HFPX77 1368
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 357597 BBG000D4LWF6 5751
CADENCE DESIGN SYS INC CDNS 0.06 398192 BBG000C13CD9 1231
COMCAST CORP-CLASS A CMCSA 0.06 380865 BBG000BFT2L4 14895
Marriott International, Inc Class A MAR 0.06 396862 BBG000BGD7W6 1113
DOORDASH INC CLASS A DASH 0.06 386512 BBG005D7QCJ3 1817
AIRBNB INC ABNB 0.06 351946 BBG001Y2XS07 1963
REGENERON PHARMACEUTICALS REGN 0.06 378345 BBG000C734W3 470
MONSTER BEVERAGE CORP MNST 0.06 393293 BBG008NVB1C0 8640
MERCADOLIBRE INC MELI 0.06 396841 BBG000GQPB11 222
INTUIT INC INTU 0.06 381242 BBG000BH5DV1 1136
CINTAS CORP CTAS 0.06 344800 BBG000H3YXF8 1743
Datadog Inc. Class A DDOG 0.06 379884 BBG003NJHZT9 1536
PACCAR INC PCAR 0.05 292558 BBG000BQVTF5 2236
Warner Bros Discovery Inc WBD 0.05 317480 BBG011386VF4 11367
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 294526 BBG000C30L48 208
TERADYNE INC TER 0.05 276962 BBG000BV4DR6 625
NXP Semiconductors NV NXPI 0.05 292762 BBG000BND699 1258
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.05 311023 BBG000B9ZXB4 2818
ROSS STORES INC ROST 0.05 334568 BBG000BSBZH7 1422
SYNOPSYS INC SNPS 0.05 319832 BBG000BSFRF3 774
MCDONALDS CORP MCD 0.05 292083 BBG000BNSZP1 1100
CONSOLIDATED EDISON INC ED 0.05 296780 BBG000BHLYS1 2723
OREILLY AUTOMOTIVE INC ORLY 0.05 300646 BBG000BGYWY6 3332
LUMENTUM HOLDINGS INC LITE 0.05 316830 BBG0073F9RT7 327
AMERICAN ELECTRIC POWER AEP 0.05 292790 BBG000BB9KF2 2314
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 334309 BBG022XF4SZ9 1457
XCEL ENERGY INC XEL 0.04 240798 BBG000BCTQ65 3040
PAYPAL HOLDINGS INC PYPL 0.04 251737 BBG0077VNXV6 4163
ASTERA LABS INC ALAB 0.04 239807 BBG00TDKHW99 749
Baker Hughes Company BKR 0.04 255511 BBG00GBVBK51 3937
Nebius Group NV NBIS 0.04 251912 BBG001NVJ6W4 937
AUTODESK INC ADSK 0.04 245990 BBG000BM7HL0 1018
DIAMONDBACK ENERGY INC FANG 0.04 243010 BBG002PHSYX9 1178
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 234912 BBG00LBLDDR2 2702
ROCKET LAB CORP RKLB 0.04 224899 BBG01V7JN3F3 2740
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 229615 BBG00B6BFWH9 2175
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 231192 BBG020QYV152 1431
PAYCHEX INC PAYX 0.03 181840 BBG000BQSQ38 1534
MICROCHIP TECHNOLOGY INC MCHP 0.03 190056 BBG000BHCP19 2368
ROPER TECHNOLOGIES INC ROP 0.03 178097 BBG000F1ZSN5 457
AXON ENTERPRISE INC AXON 0.03 206073 BBG000BHJWG1 341
Old Dominion Freight Line Inc. ODFL 0.03 178258 BBG000CHSS88 841
IDEXX LABS IDXX 0.03 175841 BBG000BLRT07 322
EXELON CORP EXC 0.03 177131 BBG000J6XT05 3887
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 178791 BBG000BS1YV5 740
KEURIG DR PEPPER INC KDP 0.03 173111 BBG000TJM7F0 5717
FERROVIAL SA FER 0.03 174366 BBG01H0DF657 2727.88
COREWEAVE INC CRWV 0.03 174794 BBG011ZTRJ21 1649
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.03 173606 BBG00CMNZNK7 173606
THOMSON REUTERS CORP TRI 0.03 181478 N/A 1832
KRAFT HEINZ CO/THE KHC 0.02 113578 BBG005CPNTQ2 4589
WORKDAY INC-CLASS A WDAY 0.02 142811 BBG000VC0T95 747
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 131616 BBG000BFGNJ5 586
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 126792 BBG01BFR8YV1 1752
COPART INC CPRT 0.02 129875 BBG000BM9RH1 4097
DEXCOM INC DXCM 0.02 126927 BBG000QTF8K1 1430
MICROSTRATEGY INC-CL A MSTR 0.02 124151 BBG000GQJPZ0 1271
Cash & Other Cash&Other -0.01 -55313.6 N/A -55313.6

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.