RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 11/04/2026
TICKER RAA
NET ASSETS $608M
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 $29.84
30 DAY MEDIAN BID-ASK SPREAD 0.000666

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 10.34% NA NA 13.35%
RAA - Market Price 10.25% NA NA 13.33%
S&P 500 Index Total Return 12.11% NA NA 16.84%
1 MO 3 MO YTD Since Inception
RAA - NAV 0.07% -1.49% 2.09% 1.87% 9.88% 9.81% 13.35% 14.06%
RAA - Market Price -0.03% -1.49% 1.99% 1.86% 9.80% 9.83% 13.33% 14.11%
S&P 500 Index Total Return -0.87% -0.35% 1.48% 2.30% 11.77% 12.75% 16.84% 18.46%
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 11/04/2026

NET ASSET VALUE

$29.84

CLOSING PRICE

$29.84

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 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 6
Discount 16 8 14 21 14

Asset Allocation

As of 11/4/2026

Equities

56.53%
Nasdaq
27.06%
US Large Cap
20.29%
Dividend Payers
3.13%
US Small Cap
2.05%
Emerging Ex. China
2.00%
Europe
1.00%
Japan
1.00%

Fixed Income

20.25%
Corporate Bonds
5.01%
High Yield
5.01%
Emerging Mkt Bonds
3.02%
TIPS
3.00%
T-Bills
2.20%
Long Term Treasuries
2.01%

Alternatives

23.18%
Managed Futures
7.74%
Commodities
5.54%
Energy
3.65%
Miners
2.10%
Bitcoin
2.08%
Gold
1.05%
Real Estate
1.02%

Holdings

As of 11/04/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 20.29 123379000 BBG00RYR67P4 2523600
iM DBi Managed Futures Strategy ETF DBMF 6.00 36454000 N/A 1157640
INVESCO OPTIMUM YIELD DIVERS PDBC 5.54 33702400 N/A 1809040
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.01 30479100 BBG000PWYVH7 382471
SCHWAB HIGH YIELD BOND ETF SCYB 5.01 30479300 BBG01F80WX71 1206620
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.02 18361400 BBG000NXKWH0 198631
SCHWAB U.S. TIPS ETF SCHP 2.98 18138000 BBG000BGN6P5 709903
APPLE INC AAPL 2.18 13258300 BBG000B9XRY4 37934
NVIDIA CORP NVDA 2.15 13086900 BBG000BBJQV0 65392
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.08 12661300 N/A 357764
Vanguard Morningstar Small-Cap ETF VB 2.05 12459800 BBG000HT3Z79 42108
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 2.01 12193200 BBG00PZFJPC3 409718
ISHARES MSCI EMR MRK EX CHNA EMXC 2.01 12231300 BBG00H5VLMJ6 136327
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 12177500 BBG01922X0X9 244185
MICROSOFT CORP MSFT 1.79 10872000 BBG000BPH459 19561
Simplify DBi CTA Managed Futures Index ETF SDMF 1.74 10592100 BBG020BR8WR7 403585
AMAZON.COM INC AMZN 1.24 7540890 BBG000BVPV84 28346
MICRON TECHNOLOGY INC MU 1.12 6831030 BBG000C5Z1S3 8590
ADVANCED MICRO DEVICES INC AMD 1.06 6449940 BBG000BBQCY0 13196
SPROTT PHYSICAL GOLD TRUS PHYS 1.05 6362250 BBG000Q83F79 207442
Franklin FTSE Europe ETF FLEE 1.03 6267740 BBG00J3PR1S7 159647
Franklin FTSE Japan ETF FLJP 1.02 6183920 BBG00J3MDY16 154598
Tesla Inc. TSLA 0.87 5299060 BBG000N9MNX3 13757
META PLATFORMS INC META 0.81 4905810 BBG000MM2P62 7787
ALPHABET INC-CL A GOOGL 0.74 4480440 BBG009S39JX6 15507
WAL-MART STORES INC WMT 0.72 4378730 BBG000BWXBC2 33899
SPACE EXPLORATION TECH CORP A SPCX 0.72 4369560 BBG000NQF3Z5 32148
Broadcom Inc. AVGO 0.71 4291130 BBG00KHY5S69 13184
ALPHABET INC-CL C GOOG 0.69 4166140 BBG009S3NB30 14501
COSTCO WHOLESALE CORP COST 0.53 3243010 BBG000F6H8W8 3099
INTEL CORP INTC 0.52 3147800 BBG000C0G1D1 54021
CISCO SYSTEMS INC CSCO 0.50 3017540 BBG000C3J3C9 29124
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.49 2996850 BBG000N7QR55 17454
CHEVRON CORP CVX 0.46 2801600 BBG000K4ND22 12913
BHP GROUP LTD BHP 0.43 2589880 BBG000BD5NZ4 32317
SCHLUMBERGER LTD SLB 0.39 2359020 BBG000BT41Q8 45753
EQT CORP EQT 0.38 2304950 BBG000BHZ5J9 43887
WILLIAMS COMPANIES INC. WMB 0.37 2235440 BBG000BWVCP8 32942
APPLIED MATERIALS INC AMAT 0.37 2267010 BBG000BBPFB9 6137
Cheniere Energy Inc LNG 0.36 2162410 BBG000C3HSR0 7405
Suncor Energy Inc. SU 0.36 2218040 BBG000BC1LY5 30789
MARATHON PETROLEUM CORP MPC 0.36 2166020 BBG001DCCGR8 5516
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.36 2201860 BBG023CY9MM1 13008
OCCIDENTAL PETROLEUM CORP OXY 0.36 2183300 BBG000BQQ2S6 38083
LAM RESH CORP LRCX 0.35 2115760 BBG000BNFLM9 9555
PALO ALTO NETWORKS INC PANW 0.35 2106690 BBG0014GJCT9 6053
CANADIAN NATURAL RESOURCES CNQ 0.35 2156110 BBG000HW5GX3 43435
TEXAS INSTRUMENTS INC TXN 0.35 2100070 BBG000BVV7G1 6742
NETFLIX INC NFLX 0.32 1951400 BBG000CL9VN6 29393
PEPSICO INC PEP 0.30 1813860 BBG000DH7JK6 12736
Crowdstrike Holdings Inc. Class A CRWD 0.30 1830400 BBG00BLYKS03 7595
AMGEN INC AMGN 0.29 1791910 BBG000BBS2Y0 3745
AUTOMATIC DATA PROCESSING ADP 0.29 1740500 BBG000JG0547 5734
LINDE PLC LIN 0.27 1665520 BBG01FND0CC1 3174
Kimberly-Clark Corp KMB 0.27 1646520 BBG000BMW2Z0 15134.8
NEWMONT GOLDCORP CORPORATION COM NEM 0.27 1637480 BBG000BPWXK1 13864
KLA CORPORATION KLAC 0.25 1499550 BBG000BMTFR4 10011
ANALOG DEVICES INC ADI 0.25 1510400 BBG000BB6G37 3718
GILEAD SCIENCES INC GILD 0.24 1476450 BBG000CKGBP2 8462
SHOPIFY INC - CLASS A SHOP 0.24 1446130 BBG004DW5NB8 9450
QUALCOMM INC QCOM 0.24 1485100 BBG000CGC1X8 8575
SANDISK CORP/DE SNDKV SNDK 0.21 1291560 BBG01R388JG1 1245
INTUITIVE SURGICAL INC ISRG 0.21 1275640 BBG000BJPDZ1 2646
AGNICO EAGLE MINES LTD AEM 0.20 1230950 BBG000DLVDK3 6710
FREEPORT-MCMORAN INC FCX 0.19 1162420 BBG000BJDB15 18569
RIO TINTO PLC-SPON ADR RIO 0.19 1133360 BBG000FD28T3 13403
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.18 1110450 BBG00ZXBJ153 6949
T-MOBILE US INC TMUS 0.18 1104640 BBG000NDV1D4 6940
REALTY INCOME CORP O 0.18 1069100 BBG000DHPN63 18053
CLOROX COMPANY CLX 0.17 1014110 BBG000BFS7D3 10227
STANLEY BLACK & DECKER INC SWK 0.17 1045800 BBG000BTQR96 8838
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.17 1020530 BBG0113JGQF0 1832
ASML HOLDING NV-NY REG SHS ASML 0.17 1048910 BBG000K6MRN4 701
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.16 992115 BBG000B9ZXB4 8589
ILLINOIS TOOL WORKS ITW 0.16 951365 BBG000BMBL90 3242
T ROWE PRICE GROUP INC TROW 0.16 987914 BBG000BVMPN3 8776
VERTEX PHARMACEUTICALS INC VRTX 0.16 956977 BBG000C1S2X2 1743
AO Smith Corp AOS 0.16 963595 BBG000BC1L02 14367
HORMEL FOODS CORP HRL 0.16 969986 BBG000BLF8D2 42618
MEDTRONIC PLC MDT 0.16 986519 BBG000BNWG87 9399
FRANKLIN RESOURCES INC BEN 0.16 984398 BBG000BD0TF8 29064
WELLTOWER INC WELL 0.15 890780 BBG000BKY1G5 3592
BOOKING HOLDINGS INC BKNG 0.15 912638 BBG000BLBVN4 5338
STARBUCKS CORP SBUX 0.15 896249 BBG000CTQBF3 8170
AMCOR PLC COMMON STOCK USD.01 AMCR 0.15 938232 N/A 19345
GENUINE PARTS CO GPC 0.15 890614 BBG000BKL348 7046
WESTERN DIGITAL CORP WDC 0.15 925182 BBG000BWNFZ9 2857
Barrick Mining Corp. B 0.14 866447 N/A 21591
GLENCORE PLC -UNSP ADR GLNCY 0.14 838046 BBG001VKX1Z1 61621
Marriott International, Inc Class A MAR 0.13 774113 BBG000BGD7W6 1822
EVERSOURCE ENERGY ES 0.13 813108 BBG000BQ87N0 11540
International Business Machines Corporation IBM 0.13 783306 BBG000BLNNH6 3080
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.13 765856 BBG000PVRDL2 5824
PPG INDUSTRIES INC PPG 0.13 778765 BBG000BRJ809 6119
MODERNA INC MRNA 0.12 710545 BBG003PHHZT1 2750
ADOBE SYSTEMS INC ADBE 0.12 724319 BBG000BB5006 2915
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.12 701648 N/A 26914
NUCOR CORP NUE 0.12 722553 BBG000BQ8KV2 2697
MERCADOLIBRE INC MELI 0.11 647235 BBG000GQPB11 372
MONSTER BEVERAGE CORP MNST 0.11 690349 BBG008NVB1C0 14161
INTUIT INC INTU 0.11 697944 BBG000BH5DV1 1957
APPLOVIN CORP APP 0.11 647852 BBG006HFPX77 2384
CSX CORP CSX 0.11 669103 BBG000BGJRC8 12855
SYNOPSYS INC SNPS 0.11 664796 BBG000BSFRF3 1436
FORTINET INC FTNT 0.11 697283 BBG000BCMBG4 5389
CADENCE DESIGN SYS INC CDNS 0.11 674198 BBG000C13CD9 2046
ARM HOLDINGS PLC ARM 0.11 692206 BBG01J1GXZF0 3609
FRANCO-NEVADA CORP FNV 0.10 594212 BBG000TRN6Z1 2454
ROSS STORES INC ROST 0.10 583878 BBG000BSBZH7 2376
CONSTELLATION ENERGY CORPORATION CEG 0.10 628552 BBG014KFRNP7 2558
REGENERON PHARMACEUTICALS REGN 0.10 618896 BBG000C734W3 665
DOORDASH INC CLASS A DASH 0.10 603714 BBG005D7QCJ3 3040
PROLOGIS INC PLD 0.10 620151 BBG000B9Z0J8 4721
CINTAS CORP CTAS 0.10 627084 BBG000H3YXF8 2738
Cash & Other Cash&Other 0.10 601969 N/A 601969
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 632430 BBG000BBTJZ1 2259
COMCAST CORP-CLASS A CMCSA 0.10 592026 BBG000BFT2L4 23824
AIRBNB INC ABNB 0.09 520115 BBG001Y2XS07 2949
MONDELEZ INTERNATIONAL INC-A MDLZ 0.09 567542 BBG000D4LWF6 8423
EQUINIX INC EQIX 0.09 568154 BBG000MBDGM6 539
NXP Semiconductors NV NXPI 0.08 502989 BBG000BND699 1898
OREILLY AUTOMOTIVE INC ORLY 0.08 503161 BBG000BGYWY6 5449
Datadog Inc. Class A DDOG 0.08 493503 BBG003NJHZT9 2615
AMERICAN ELECTRIC POWER AEP 0.08 478576 BBG000BB9KF2 3703
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.08 503091 BBG022XF4SZ9 2202
LUMENTUM HOLDINGS INC LITE 0.08 466302 BBG0073F9RT7 744
ROPER TECHNOLOGIES INC ROP 0.08 510432 BBG000F1ZSN5 1037
VALE SA-SP ADR VALE 0.07 429311 BBG000BN5LG7 37560
DIGITAL REALTY TRUST INC DLR 0.07 441678 BBG000Q5ZRM7 2389
AUTODESK INC ADSK 0.07 398383 BBG000BM7HL0 1475
SIMON PROPERTY GROUP INC SPG 0.07 446260 BBG000BJ2D31 1953
MICROSTRATEGY INC-CL A MSTR 0.07 402533 BBG000GQJPZ0 2824
PUBLIC STORAGE PSA 0.07 447987 BBG000BPPN67 1307
FASTENAL CO FAST 0.07 432704 BBG000BJ8YN7 8132
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 450206 BBG000C30L48 357
KEURIG DR PEPPER INC KDP 0.06 374890 BBG000TJM7F0 10190
PACCAR INC PCAR 0.06 379310 BBG000BQVTF5 3573
DIAMONDBACK ENERGY INC FANG 0.06 367772 BBG002PHSYX9 2011
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 379204 BBG00LBLDDR2 4616
HONEYWELL AEROSPACE INC HONAV HONAV 0.06 370801 BBG020QYV152 2371
Ventas Inc. VTR 0.06 381508 BBG000FRVHB9 4277
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.06 369182 BBG00B6BFWH9 3187
Vivmark Residential VMRK 0.06 373399 BBG000BG8M31 5860
XCEL ENERGY INC XEL 0.06 365953 BBG000BCTQ65 4546
PAYPAL HOLDINGS INC PYPL 0.06 384437 BBG0077VNXV6 6386
EXELON CORP EXC 0.06 362753 BBG000J6XT05 7845
IDEXX LABS IDXX 0.06 376518 BBG000BLRT07 539
FERROVIAL SA FER 0.05 320150 BBG01H0DF657 5430.88
Nebius Group NV NBIS 0.05 284455 BBG001NVJ6W4 2010
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 321138 BBG00CMNZNK7 321138
THOMSON REUTERS CORP TRI 0.05 299992 N/A 2559
PAYCHEX INC PAYX 0.05 320280 BBG000BQSQ38 2698
MICROCHIP TECHNOLOGY INC MCHP 0.05 299552 BBG000BHCP19 3976
IRON MOUNTAIN INC IRM 0.05 312076 BBG000KCZPC3 2630
ASTERA LABS INC ALAB 0.05 323518 BBG00TDKHW99 1449
Baker Hughes Company BKR 0.05 331286 BBG00GBVBK51 6643
TERADYNE INC TER 0.05 284623 BBG000BV4DR6 1134
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 265512 BBG000BS1YV5 1271
EXTRA SPACE STORAGE INC EXR 0.04 257342 BBG000PV27K3 1598
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 272790 BBG01BFR8YV1 3179
WORKDAY INC-CLASS A WDAY 0.04 248061 BBG000VC0T95 1229
VICI PROPERTIES INC REIT VICI 0.04 251313 BBG00HVVB499 9953
DEXCOM INC DXCM 0.04 260220 BBG000QTF8K1 2941
ROCKET LAB CORP RKLB 0.04 235822 BBG01V7JN3F3 4503
AXON ENTERPRISE INC AXON 0.04 240934 BBG000BHJWG1 568
Old Dominion Freight Line Inc. ODFL 0.04 251325 BBG000CHSS88 1401
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 172356 BBG000BFGNJ5 1070
ABBVIE INC ABBV 0.03 181320 BBG0025Y4RY4 615
COREWEAVE INC CRWV 0.03 163999 BBG011ZTRJ21 3387
COPART INC CPRT 0.03 196275 BBG000BM9RH1 6017
CONSOLIDATED EDISON INC ED 0.03 187066 BBG000BHLYS1 1555
MCDONALDS CORP MCD 0.03 196154 BBG000BNSZP1 700
AIR PRODUCTS & CHEMICALS INC APD 0.03 184307 BBG000BC4JJ4 578
MID-AMERICA APARTMENT COMM MAA 0.02 125570 BBG000BLMY92 1028
KIMCO REALTY CORP KIM 0.02 128391 BBG000CN3S73 4961
INVITATION HOMES INC REIT USD.01 INVH 0.02 125444 BBG00FQH6BS9 4550
W. P. CAREY REIT INC WPC 0.02 123073 BBG000BCQM58 1883
REGENCY CENTERS CORP REG 0.02 124327 BBG000BL46Q4 1618
HOST HOTELS & RESORTS INC HST 0.02 125563 BBG000BL8804 4809
Omega Healthcare Investors Inc OHI 0.02 124910 BBG000BGBTC2 2576
ESSEX PROPERTY TRUST INC ESS 0.02 123813 BBG000CGJMB9 456

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.