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 04/21/2026
TICKER RAA
NET ASSETS $563M
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 $28.97
30 DAY MEDIAN BID-ASK SPREAD 0.00072

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 -3.97% -3.97% 0.68% 0.68% 0.68% 0.68% 11.92% 11.92%
RAA - Market Price -3.98% -3.98% 0.63% 0.63% 0.63% 0.63% 11.89% 11.89%
S&P 500 Index Total Return -4.98% -4.98% -4.33% -4.33% -4.33% -4.33% 10.18% 10.18%
RAA 2025*
NAV 12.32%
MARKET PRICE 12.36%

*RAA Inception was 2/26/2025

Scroll for more →

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 04/21/2026

NET ASSET VALUE

$28.97

CLOSING PRICE

$28.97

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 7
Discount 5 13 16 8 4

Asset Allocation

As of 4/21/2026

Equities

48.85%
Nasdaq
21.91%
US Large Cap
17.49%
Dividend Payers
2.26%
Emerging Ex. China
2.14%
US Small Cap
2.07%
Japan
1.97%
Europe
1.01%

Fixed Income

27.33%
High Yield
6.72%
Corporate Bonds
5.73%
Emerging Mkt Bonds
3.88%
TIPS
3.82%
Long Term Treasuries
3.78%
T-Bills
3.40%

Alternatives

23.82%
Managed Futures
7.48%
Commodities
4.78%
Miners
3.00%
Gold
2.87%
Energy
2.69%
Bitcoin
2.09%
Real Estate
0.91%

Holdings

As of 04/21/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 17.49 98433500 BBG00RYR67P4 730165
iM DBi Managed Futures Strategy ETF DBMF 7.48 42078300 N/A 1387350
SCHWAB HIGH YIELD BOND ETF SCYB 6.72 37815800 BBG01F80WX71 1437320
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.73 32227900 BBG000PWYVH7 387261
INVESCO OPTIMUM YIELD DIVERS PDBC 4.78 26903300 N/A 1546170
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.88 21835400 BBG000NXKWH0 227144
SCHWAB U.S. TIPS ETF SCHP 3.82 21487200 BBG000BGN6P5 802359
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 3.78 21286100 BBG00PZFJPC3 677901
SPROTT PHYSICAL GOLD TRUS PHYS 2.87 16148100 BBG000Q83F79 455646
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.86 16066000 BBG01922X0X9 321577
ISHARES MSCI EMR MRK EX CHNA EMXC 2.14 12049200 BBG00H5VLMJ6 137391
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.09 11750200 N/A 354135
VANGUARD SMALL-CAP ETF VB 2.07 11644200 BBG000HT3Z79 40976
Franklin FTSE Japan ETF FLJP 1.97 11099100 BBG00J3MDY16 297962
NVIDIA CORP NVDA 1.96 11044400 BBG000BBJQV0 55255
APPLE INC AAPL 1.61 9041000 BBG000B9XRY4 33967
MICROSOFT CORP MSFT 1.27 7163640 BBG000BPH459 16889
AMAZON.COM INC AMZN 1.07 6008090 BBG000BVPV84 24041
Franklin FTSE Europe ETF FLEE 1.01 5658640 BBG00J3PR1S7 148061
Tesla Inc. TSLA 0.78 4415620 BBG000N9MNX3 11427
Broadcom Inc. AVGO 0.78 4392100 BBG00KHY5S69 10921
ALPHABET INC-CL A GOOGL 0.77 4355660 BBG009S39JX6 13108
META PLATFORMS INC META 0.76 4280580 BBG000MM2P62 6400
WAL-MART STORES INC WMT 0.73 4092900 BBG000BWXBC2 31581
ALPHABET INC-CL C GOOG 0.72 4049250 BBG009S3NB30 12253
MICRON TECHNOLOGY INC MU 0.63 3555940 BBG000C5Z1S3 7913
BHP GROUP LTD BHP 0.62 3508170 BBG000BD5NZ4 45156
ADVANCED MICRO DEVICES INC AMD 0.53 3002510 BBG000BBQCY0 10554
COSTCO WHOLESALE CORP COST 0.51 2872590 BBG000F6H8W8 2856
NETFLIX INC NFLX 0.44 2480030 BBG000CL9VN6 26788
CISCO SYSTEMS INC CSCO 0.42 2381000 BBG000C3J3C9 26544
INTEL CORP INTC 0.38 2131780 BBG000C0G1D1 32173
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.38 2112190 BBG000N7QR55 14470
LAM RESH CORP LRCX 0.37 2102620 BBG000BNFLM9 8138
APPLIED MATERIALS INC AMAT 0.36 2041450 BBG000BBPFB9 5177
NEWMONT GOLDCORP CORPORATION COM NEM 0.36 2053640 BBG000BPWXK1 18789
RIO TINTO PLC-SPON ADR RIO 0.36 2027890 BBG000FD28T3 20752
CHEVRON CORP CVX 0.33 1835250 BBG000K4ND22 9868
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.32 1822350 BBG00CMNZNK7 1822350
SCHLUMBERGER LTD SLB 0.29 1649010 BBG000BT41Q8 31249
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.28 1560060 BBG000BRK7L6 24941
WILLIAMS COMPANIES INC. WMB 0.28 1573480 BBG000BWVCP8 22341
FREEPORT-MCMORAN INC FCX 0.28 1548430 BBG000BJDB15 22916
AGNICO EAGLE MINES LTD AEM 0.28 1555670 BBG000DLVDK3 7660
KLA CORPORATION KLAC 0.27 1521140 BBG000BMTFR4 852
CANADIAN NATURAL RESOURCES CNQ 0.26 1488560 BBG000HW5GX3 33617
EQT CORP EQT 0.26 1453500 BBG000BHZ5J9 25509
Cheniere Energy Inc LNG 0.26 1480170 BBG000C3HSR0 5742
LINDE PLC LIN 0.26 1485510 BBG01FND0CC1 3002
MARATHON PETROLEUM CORP MPC 0.26 1465990 BBG001DCCGR8 6653
OCCIDENTAL PETROLEUM CORP OXY 0.25 1431120 BBG000BQQ2S6 25406
T-MOBILE US INC TMUS 0.25 1406420 BBG000NDV1D4 7198
EXXON MOBIL CORP XOM 0.25 1429450 BBG000GZQ728 9635
PEPSICO INC PEP 0.24 1369180 BBG000DH7JK6 8838
TEXAS INSTRUMENTS INC TXN 0.24 1361130 BBG000BVV7G1 5838
GLENCORE PLC -UNSP ADR GLNCY 0.23 1299480 BBG001VKX1Z1 88702
AMGEN INC AMGN 0.21 1201150 BBG000BBS2Y0 3483
ANALOG DEVICES INC ADI 0.21 1164090 BBG000BB6G37 3102
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.20 1100300 BBG000PVRDL2 7759
Barrick Mining Corp. B 0.20 1118520 N/A 27652
GILEAD SCIENCES INC GILD 0.19 1051120 BBG000CKGBP2 7886
Simplify DBi CTA Managed Futures Index ETF SDMF 0.19 1069060 BBG020BR8WR7 42454
AUTOMATIC DATA PROCESSING ADP 0.19 1054110 BBG000JG0547 5196
SHOPIFY INC - CLASS A SHOP 0.18 994490 BBG008HBD923 7584
INTUITIVE SURGICAL INC ISRG 0.18 1021270 BBG000BJPDZ1 2263
QUALCOMM INC QCOM 0.17 939973 BBG000CGC1X8 6934
BOOKING HOLDINGS INC BKNG 0.17 954300 BBG000BLBVN4 5000
HONEYWELL INTERNATIONAL INC HON 0.16 908435 BBG000H556T9 4088
FRANCO-NEVADA CORP FNV 0.16 910058 BBG000RD3CL8 3677
VALE SA-SP ADR VALE 0.16 880195 BBG000BN5LG7 50441
APPLOVIN CORP APP 0.16 912291 BBG006HFPX77 1928
WESTERN DIGITAL CORP WDC 0.15 866643 BBG000BWNFZ9 2258
REALTY INCOME CORP O 0.15 828544 BBG000DHPN63 12946
PALO ALTO NETWORKS INC PANW 0.15 856079 BBG0014GJCT9 4893
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 827514 BBG00ZXBJ153 5469
ASML HOLDING NV-NY REG SHS ASML 0.15 825777 BBG000K6MRN4 566
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.15 832552 N/A 34864
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 784420 BBG0113JGQF0 1401
CONSTELLATION ENERGY CORPORATION CEG 0.13 709246 BBG014KFRNP7 2554
WELLTOWER INC WELL 0.13 723603 BBG000BKY1G5 3506
INTUIT INC INTU 0.13 703629 BBG000BH5DV1 1738
COMCAST CORP-CLASS A CMCSA 0.12 669138 BBG000BFT2L4 23034
VERTEX PHARMACEUTICALS INC VRTX 0.12 703346 BBG000C1S2X2 1611
STARBUCKS CORP SBUX 0.12 699563 BBG000CTQBF3 7153
Crowdstrike Holdings Inc. Class A CRWD 0.12 694647 BBG00BLYKS03 1545
PROLOGIS INC PLD 0.12 686325 BBG000B9Z0J8 4836
ADOBE SYSTEMS INC ADBE 0.11 638713 BBG000BB5006 2584
FRANKLIN RESOURCES INC BEN 0.11 618893 BBG000BD0TF8 22720
Marriott International, Inc Class A MAR 0.11 628128 BBG000BGD7W6 1673
KENVUE INC KVUE 0.10 539933 BBG01C79X561 31210
Kimberly-Clark Corp KMB 0.10 539801 BBG000BMW2Z0 5588
CADENCE DESIGN SYS INC CDNS 0.10 580647 BBG000C13CD9 1782
EQUINIX INC EQIX 0.10 535132 BBG000MBDGM6 489
T ROWE PRICE GROUP INC TROW 0.10 584629 BBG000BVMPN3 5897
MERCADOLIBRE INC MELI 0.10 569233 BBG000GQPB11 307
SYNOPSYS INC SNPS 0.10 555953 BBG000BSFRF3 1189
AMCOR PLC COMMON STOCK USD.01 AMCR 0.10 564508 N/A 13735
STANLEY BLACK & DECKER INC SWK 0.10 578280 BBG000BTQR96 7584
ILLINOIS TOOL WORKS ITW 0.10 559989 BBG000BMBL90 2066
AO Smith Corp AOS 0.09 510756 BBG000BC1L02 7859
GENUINE PARTS CO GPC 0.09 517155 BBG000BKL348 4497
HORMEL FOODS CORP HRL 0.09 501606 BBG000BLF8D2 23605
MEDTRONIC PLC MDT 0.09 506842 BBG000BNWG87 6181
PPG INDUSTRIES INC PPG 0.09 492485 BBG000BRJ809 4440
REGENERON PHARMACEUTICALS REGN 0.09 478310 BBG000C734W3 640
CLOROX COMPANY CLX 0.09 512213 BBG000BFS7D3 5207
EVERSOURCE ENERGY ES 0.09 519993 BBG000BQ87N0 7782
CSX CORP CSX 0.09 515322 BBG000BGJRC8 11882
OREILLY AUTOMOTIVE INC ORLY 0.09 503572 BBG000BGYWY6 5368
MONSTER BEVERAGE CORP MNST 0.09 484513 BBG008NVB1C0 6437
MONDELEZ INTERNATIONAL INC-A MDLZ 0.08 474186 BBG000D4LWF6 8448
Warner Bros Discovery Inc WBD 0.08 437970 BBG011386VF4 16037
MONOLITHIC POWER SYSTEMS INC MPWR 0.08 473664 BBG000C30L48 310
DOORDASH INC CLASS A DASH 0.08 469626 BBG005D7QCJ3 2574
ROSS STORES INC ROST 0.08 468325 BBG000BSBZH7 2076
CINTAS CORP CTAS 0.08 446643 BBG000H3YXF8 2534
International Business Machines Corporation IBM 0.08 423406 BBG000BLNNH6 1656
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.08 423875 BBG00LBLDDR2 4282
AMERICAN ELECTRIC POWER AEP 0.08 465572 BBG000BB9KF2 3530
PACCAR INC PCAR 0.07 419548 BBG000BQVTF5 3325
PUBLIC STORAGE PSA 0.07 366604 BBG000BPPN67 1189
Baker Hughes Company BKR 0.07 402410 BBG00GBVBK51 6679
AIRBNB INC ABNB 0.07 379592 BBG001Y2XS07 2661
J M Smucker Co COM STK NPV SJM 0.07 412639 BBG000BT1715 4310
FORTINET INC FTNT 0.07 398676 BBG000BCMBG4 4676
SIMON PROPERTY GROUP INC SPG 0.07 410544 BBG000BJ2D31 2005
DIGITAL REALTY TRUST INC DLR 0.07 414817 BBG000Q5ZRM7 2061
ABBVIE INC ABBV 0.07 420701 BBG0025Y4RY4 2051
XCEL ENERGY INC XEL 0.06 315529 BBG000BCTQ65 3990
FASTENAL CO FAST 0.06 332696 BBG000BJ8YN7 7280
EXELON CORP EXC 0.06 309824 BBG000J6XT05 6696
NXP Semiconductors NV NXPI 0.06 360996 BBG000BND699 1608
FERROVIAL SE FER 0.06 317249 BBG01H7CZ9S9 4516
AUTODESK INC ADSK 0.06 321824 BBG000BM7HL0 1311
DIAMONDBACK ENERGY INC FANG 0.06 361759 BBG002PHSYX9 1906
MICROSTRATEGY INC-CL A MSTR 0.06 341550 BBG000GQJPZ0 2083
ELECTRONIC ARTS INC EA 0.06 326291 BBG000BP0KQ8 1603
Ventas Inc. VTR 0.05 267843 BBG000FRVHB9 3262
MICROCHIP TECHNOLOGY INC MCHP 0.05 270792 BBG000BHCP19 3346
PAYPAL HOLDINGS INC PYPL 0.05 289405 BBG0077VNXV6 5688
Old Dominion Freight Line Inc. ODFL 0.05 300498 BBG000CHSS88 1339
IDEXX LABS IDXX 0.05 294747 BBG000BLRT07 518
THOMSON REUTERS CORP COMMON STOCK TRI 0.05 277103 N/A 2865
Datadog Inc. Class A DDOG 0.05 267889 BBG003NJHZT9 2072
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 284955 BBG00B6BFWH9 2972
PAYCHEX INC PAYX 0.04 215277 BBG000BQSQ38 2298
ROPER TECHNOLOGIES INC ROP 0.04 241711 BBG000F1ZSN5 666
CINCINNATI FINANCIAL CORP CINF 0.04 233377 BBG000BFPK65 1402
AXON ENTERPRISE INC AXON 0.04 212178 BBG000BHJWG1 524
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 246162 BBG000BS1YV5 1131
CHARTER COMMUNICATIONS INC-A CHTR 0.04 198883 BBG000VPGNR2 822
KEURIG DR PEPPER INC KDP 0.04 238885 BBG000TJM7F0 9035
VICI PROPERTIES INC REIT VICI 0.04 221676 BBG00HVVB499 7800
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 250137 BBG000BFGNJ5 811
EXTRA SPACE STORAGE INC EXR 0.04 235713 BBG000PV27K3 1641
COPART INC CPRT 0.04 205274 BBG000BM9RH1 6084
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.04 206302 BBG01BFR8YV1 2855
AVALONBAY COMMUNITIES INC AVB 0.04 227225 BBG000BLPBL5 1320
INSMED INC INSM 0.03 173828 BBG000BWM5P3 1233
KRAFT HEINZ CO/THE KHC 0.03 165378 BBG005CPNTQ2 7524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 187879 BBG000BBDV81 3108
IRON MOUNTAIN INC IRM 0.03 185464 BBG000KCZPC3 1574
EQUITY RESIDENTIAL EQR 0.03 167366 BBG000BG8M31 2706
VERISK ANALYTICS INC VRSK 0.03 161332 BBG000BCZL41 886
WORKDAY INC-CLASS A WDAY 0.03 166100 BBG000VC0T95 1286
DEXCOM INC DXCM 0.03 154810 BBG000QTF8K1 2473
Sun Communities Inc SUI 0.02 109579 BBG000BLJWF3 848
ESSEX PROPERTY TRUST INC ESS 0.02 111137 BBG000CGJMB9 439
AIR PRODUCTS & CHEMICALS INC APD 0.02 108774 BBG000BC4JJ4 369
COSTAR GROUP INC CSGP 0.02 107158 BBG000D7JKW9 2754
Omega Healthcare Investors Inc OHI 0.02 110969 BBG000BGBTC2 2415
MID-AMERICA APARTMENT COMM MAA 0.02 109520 BBG000BLMY92 871
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 96985.1 BBG000B9ZXB4 1046
Zscaler Inc. ZS 0.02 133328 BBG003338H34 955
KIMCO REALTY CORP KIM 0.02 112338 BBG000CN3S73 4742
INVITATION HOMES INC REIT USD.01 INVH 0.02 115546 BBG00FQH6BS9 4289
MCDONALDS CORP MCD 0.02 103531 BBG000BNSZP1 343
CONSOLIDATED EDISON INC ED 0.02 138159 BBG000BHLYS1 1277
W. P. CAREY REIT INC WPC 0.02 115866 BBG000BCQM58 1570
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 69724.4 BBG01BGWHFR5 979
Cash & Other Cash&Other -0.03 -158170 N/A -158170

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.