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 03/27/2026
TICKER RAA
NET ASSETS $538M
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 $27.15
30 DAY MEDIAN BID-ASK SPREAD 0.000726

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 1.99% 0.22% 5.06% 2.57% 4.84% - 17.62% 12.32%
RAA - Market Price 1.98% 0.23% 5.04% 2.59% 4.80% - 17.60% 12.36%
S&P 500 Index Total Return -0.76% 0.06% 0.74% 2.65% 0.68% - 16.88% 16.19%
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 03/27/2026

NET ASSET VALUE

$27.15

CLOSING PRICE

$27.16

PREMIUM/DISCOUNT

0.02%
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 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Premium 23 54 47 39 35
Discount 0 5 13 16 7

Asset Allocation

As of 3/27/2026

Equities

43.74%
Nasdaq
17.60%
US Large Cap
14.77%
Dividend Payers
4.74%
US Small Cap
1.97%
Japan
1.87%
Emerging Ex. China
1.85%
Europe
0.94%

Fixed Income

32.32%
Corporate Bonds
9.20%
High Yield
8.24%
Emerging Mkt Bonds
5.04%
Long Term Treasuries
5.00%
TIPS
3.11%
T-Bills
1.73%

Alternatives

23.94%
Managed Futures
6.86%
Energy
4.61%
Miners
4.36%
Gold
3.62%
Commodities
2.48%
Real Estate
2.01%
Bitcoin
0.00%

Holdings

As of 03/27/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.77 79496900 BBG00RYR67P4 653274
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.20 49512900 BBG000PWYVH7 604405
SCHWAB HIGH YIELD BOND ETF SCYB 8.24 44331700 BBG01F80WX71 1721620
iM DBi Managed Futures Strategy ETF DBMF 6.86 36944700 N/A 1271240
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.04 27106800 BBG000NXKWH0 291628
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.00 26926000 BBG00PZFJPC3 867460
SPROTT PHYSICAL GOLD TRUS PHYS 3.62 19458100 BBG000Q83F79 570451
SCHWAB U.S. TIPS ETF SCHP 3.11 16740300 BBG000BGN6P5 633383
INVESCO OPTIMUM YIELD DIVERS PDBC 2.48 13340000 N/A 766665
VANGUARD SMALL-CAP ETF VB 1.97 10594500 BBG000HT3Z79 41341
Franklin FTSE Japan ETF FLJP 1.87 10053300 BBG00J3MDY16 287894
ISHARES MSCI EMR MRK EX CHNA EMXC 1.85 9958160 BBG00H5VLMJ6 130138
NVIDIA CORP NVDA 1.55 8340820 BBG000BBJQV0 49790
APPLE INC AAPL 1.39 7473450 BBG000B9XRY4 30038
ISHARES MSCI GLOBAL METALS & PICK 1.06 5707330 BBG002GKR8T5 105907
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.06 5687870 BBG01922X0X9 114100
MICROSOFT CORP MSFT 1.00 5392220 BBG000BPH459 15114
Franklin FTSE Europe ETF FLEE 0.94 5038570 BBG00J3PR1S7 143918
AMAZON.COM INC AMZN 0.79 4243150 BBG000BVPV84 21286
Tesla Inc. TSLA 0.68 3670400 BBG000N9MNX3 10144
CHEVRON CORP CVX 0.67 3603910 BBG000K4ND22 17068
WAL-MART STORES INC WMT 0.60 3219960 BBG000BWXBC2 26202
ALPHABET INC-CL A GOOGL 0.59 3178780 BBG009S39JX6 11587
META PLATFORMS INC META 0.58 3141180 BBG000MM2P62 5975
ALPHABET INC-CL C GOOG 0.55 2947850 BBG009S3NB30 10768
MARATHON PETROLEUM CORP MPC 0.55 2939030 BBG001DCCGR8 11667
Cheniere Energy Inc LNG 0.54 2882110 BBG000C3HSR0 9707
OCCIDENTAL PETROLEUM CORP OXY 0.53 2832280 BBG000BQQ2S6 43360
Broadcom Inc. AVGO 0.53 2849540 BBG00KHY5S69 9477
BHP GROUP LTD BHP 0.51 2726690 BBG000BD5NZ4 39233
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.50 2692600 BBG000BRK7L6 40393
CANADIAN NATURAL RESOURCES CNQ 0.49 2623960 BBG000HW5GX3 52385
EXXON MOBIL CORP XOM 0.48 2578190 BBG000GZQ728 15078
EQT CORP EQT 0.46 2500630 BBG000BHZ5J9 37019
ISHARES MSCI GLOBAL GOLD MIN RING 0.44 2353170 BBG002GKR6T9 31761
SCHLUMBERGER LTD SLB 0.44 2386210 BBG000BT41Q8 44602
COSTCO WHOLESALE CORP COST 0.44 2370120 BBG000F6H8W8 2409
WILLIAMS COMPANIES INC. WMB 0.42 2238450 BBG000BWVCP8 30422
MICRON TECHNOLOGY INC MU 0.41 2227400 BBG000C5Z1S3 6238
NETFLIX INC NFLX 0.36 1938210 BBG000CL9VN6 20745
FREEPORT-MCMORAN INC FCX 0.35 1865140 BBG000BJDB15 33164
Cash & Other Cash&Other 0.35 1859070 N/A 1859070
ADVANCED MICRO DEVICES INC AMD 0.34 1847800 BBG000BBQCY0 9148
REALTY INCOME CORP O 0.33 1788350 BBG000DHPN63 29467
NEWMONT GOLDCORP CORPORATION COM NEM 0.33 1778170 BBG000BPWXK1 17416
AUTOMATIC DATA PROCESSING ADP 0.33 1783280 BBG000JG0547 8861
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 1801550 BBG000N7QR55 12593
CISCO SYSTEMS INC CSCO 0.32 1729790 BBG000C3J3C9 21644
AGNICO EAGLE MINES LTD AEM 0.31 1669620 BBG000DLVDK3 8633
RIO TINTO PLC-SPON ADR RIO 0.29 1554060 BBG000FD28T3 17937
APPLIED MATERIALS INC AMAT 0.28 1486250 BBG000BBPFB9 4408
TARGET CORP TGT 0.28 1508430 BBG000H8TVT2 12587
WELLTOWER INC WELL 0.27 1429120 BBG000BKY1G5 7300
LAM RESH CORP LRCX 0.27 1473950 BBG000BNFLM9 6972
FASTENAL CO FAST 0.26 1421860 BBG000BJ8YN7 31632
T ROWE PRICE GROUP INC TROW 0.25 1344970 BBG000BVMPN3 15206
AIR PRODUCTS & CHEMICALS INC APD 0.25 1355470 BBG000BC4JJ4 4639
T-MOBILE US INC TMUS 0.24 1275040 BBG000NDV1D4 6048
HORMEL FOODS CORP HRL 0.24 1274760 BBG000BLF8D2 55256
ABBVIE INC ABBV 0.24 1292840 BBG0025Y4RY4 6174
EVERSOURCE ENERGY ES 0.24 1270760 BBG000BQ87N0 18801
PROLOGIS INC PLD 0.24 1277790 BBG000B9Z0J8 9913
ILLINOIS TOOL WORKS ITW 0.24 1271630 BBG000BMBL90 4909
Kimberly-Clark Corp KMB 0.24 1264920 BBG000BMW2Z0 12821
KENVUE INC KVUE 0.24 1309950 BBG01C79X561 74769
FRANKLIN RESOURCES INC BEN 0.23 1232210 BBG000BD0TF8 54163
LINDE PLC LIN 0.23 1245970 BBG01FND0CC1 2537
GENUINE PARTS CO GPC 0.22 1183580 BBG000BKL348 11270
PEPSICO INC PEP 0.21 1136170 BBG000DH7JK6 7424
INTEL CORP INTC 0.21 1134280 BBG000C0G1D1 26299
STANLEY BLACK & DECKER INC SWK 0.21 1143030 BBG000BTQR96 16609
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1133760 N/A 29356.8
Barrick Mining Corp. B 0.21 1129530 N/A 29270
GLENCORE PLC -UNSP ADR GLNCY 0.20 1076060 BBG001VKX1Z1 75886
MEDTRONIC PLC MDT 0.20 1055880 BBG000BNWG87 12117
CLOROX COMPANY CLX 0.19 1005300 BBG000BFS7D3 9852
KLA CORPORATION KLAC 0.19 1023240 BBG000BMTFR4 709
EQUINIX INC EQIX 0.19 1012110 BBG000MBDGM6 1051
AMGEN INC AMGN 0.19 1006550 BBG000BBS2Y0 2886
TEXAS INSTRUMENTS INC TXN 0.18 969922 BBG000BVV7G1 5096
FRANCO-NEVADA CORP FNV 0.18 995691 BBG000RD3CL8 4256
International Business Machines Corporation IBM 0.18 982229 BBG000BLNNH6 4156
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.17 917418 BBG000PVRDL2 7357
VALE SA-SP ADR VALE 0.17 896389 BBG000BN5LG7 59640
INTUITIVE SURGICAL INC ISRG 0.16 883592 BBG000BJPDZ1 1952
GILEAD SCIENCES INC GILD 0.16 886856 BBG000CKGBP2 6606
SHOPIFY INC - CLASS A SHOP 0.15 792457 BBG008HBD923 7085
ANALOG DEVICES INC ADI 0.15 831318 BBG000BB6G37 2704
HONEYWELL INTERNATIONAL INC HON 0.14 774450 BBG000H556T9 3471
DIGITAL REALTY TRUST INC DLR 0.14 731677 BBG000Q5ZRM7 4171
QUALCOMM INC QCOM 0.14 764185 BBG000CGC1X8 6012
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 748394 N/A 36686
BOOKING HOLDINGS INC BKNG 0.13 706812 BBG000BLBVN4 174
SIMON PROPERTY GROUP INC SPG 0.13 697876 BBG000BJ2D31 3873
PALO ALTO NETWORKS INC PANW 0.12 662472 BBG0014GJCT9 4506
APPLOVIN CORP APP 0.12 654520 BBG006HFPX77 1717
ASML HOLDING NV-NY REG SHS ASML 0.11 614766 BBG000K6MRN4 472
PUBLIC STORAGE PSA 0.11 583360 BBG000BPPN67 2193
VERTEX PHARMACEUTICALS INC VRTX 0.11 574684 BBG000C1S2X2 1327
INTUIT INC INTU 0.11 616748 BBG000BH5DV1 1481
CONSTELLATION ENERGY CORPORATION CEG 0.11 590920 BBG014KFRNP7 1960
COMCAST CORP-CLASS A CMCSA 0.10 562124 BBG000BFT2L4 19842
CINCINNATI FINANCIAL CORP CINF 0.10 528813 BBG000BFPK65 3441
STARBUCKS CORP SBUX 0.10 542389 BBG000CTQBF3 6248
Ventas Inc. VTR 0.10 536183 BBG000FRVHB9 6546
WESTERN DIGITAL CORP WDC 0.10 516262 BBG000BWNFZ9 1875
ADOBE SYSTEMS INC ADBE 0.10 530504 BBG000BB5006 2259
Crowdstrike Holdings Inc. Class A CRWD 0.10 526282 BBG00BLYKS03 1424
Marriott International, Inc Class A MAR 0.09 481073 BBG000BGD7W6 1515
VICI PROPERTIES INC REIT VICI 0.08 450773 BBG00HVVB499 16940
CSX CORP CSX 0.08 410505 BBG000BGJRC8 10348
MONDELEZ INTERNATIONAL INC-A MDLZ 0.08 409522 BBG000D4LWF6 7028
MERCADOLIBRE INC MELI 0.08 428671 BBG000GQPB11 268
OREILLY AUTOMOTIVE INC ORLY 0.08 406757 BBG000BGYWY6 4514
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.08 449243 BBG0113JGQF0 1182
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 453337 BBG00ZXBJ153 4778
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 369796 BBG00LBLDDR2 3705
SYNOPSYS INC SNPS 0.07 395308 BBG000BSFRF3 1039
AMERICAN ELECTRIC POWER AEP 0.07 374168 BBG000BB9KF2 2876
MONSTER BEVERAGE CORP MNST 0.07 381417 BBG008NVB1C0 5310
ROSS STORES INC ROST 0.07 383371 BBG000BSBZH7 1811
EXTRA SPACE STORAGE INC EXR 0.07 385977 BBG000PV27K3 2993
EQUITY RESIDENTIAL EQR 0.07 363435 BBG000BG8M31 6261
AVALONBAY COMMUNITIES INC AVB 0.07 357802 BBG000BLPBL5 2225
IRON MOUNTAIN INC IRM 0.07 356141 BBG000KCZPC3 3623
CINTAS CORP CTAS 0.07 358431 BBG000H3YXF8 2163
REGENERON PHARMACEUTICALS REGN 0.07 400577 BBG000C734W3 543
CADENCE DESIGN SYS INC CDNS 0.07 395425 BBG000C13CD9 1455
Warner Bros Discovery Inc WBD 0.07 372023 BBG011386VF4 13743
Baker Hughes Company BKR 0.06 336141 BBG00GBVBK51 5317
FORTINET INC FTNT 0.06 330942 BBG000BCMBG4 4232
CONSOLIDATED EDISON INC ED 0.06 305110 BBG000BHLYS1 2732
DIAMONDBACK ENERGY INC FANG 0.06 310026 BBG002PHSYX9 1536
PACCAR INC PCAR 0.06 325396 BBG000BQVTF5 2886
DOORDASH INC CLASS A DASH 0.06 326038 BBG005D7QCJ3 2224
INVITATION HOMES INC REIT USD.01 INVH 0.05 263958 BBG00FQH6BS9 10787
AUTODESK INC ADSK 0.05 256731 BBG000BM7HL0 1117
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 274836 BBG000C30L48 261
MCDONALDS CORP MCD 0.05 256038 BBG000BNSZP1 837
MID-AMERICA APARTMENT COMM MAA 0.05 252835 BBG000BLMY92 2097
ESSEX PROPERTY TRUST INC ESS 0.05 261894 BBG000CGJMB9 1093
JOHNSON & JOHNSON JNJ 0.05 273873 BBG000BMHYD1 1139
EXELON CORP EXC 0.05 259478 BBG000J6XT05 5370
XCEL ENERGY INC XEL 0.05 249966 BBG000BCTQ65 3201
ELECTRONIC ARTS INC EA 0.05 276956 BBG000BP0KQ8 1371
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 271440 BBG00CMNZNK7 271440
FERROVIAL SE FER 0.05 249114 BBG01H7CZ9S9 3982
AIRBNB INC ABNB 0.05 287516 BBG001Y2XS07 2340
NXP Semiconductors NV NXPI 0.05 267366 BBG000BND699 1395
IDEXX LABS IDXX 0.04 233378 BBG000BLRT07 418
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 230475 BBG00B6BFWH9 2515
ROPER TECHNOLOGIES INC ROP 0.04 196319 BBG000F1ZSN5 570
PAYPAL HOLDINGS INC PYPL 0.04 220653 BBG0077VNXV6 5062
Old Dominion Freight Line Inc. ODFL 0.04 211694 BBG000CHSS88 1124
MICROCHIP TECHNOLOGY INC MCHP 0.04 191084 BBG000BHCP19 3082
Sun Communities Inc SUI 0.04 210079 BBG000BLJWF3 1673
KIMCO REALTY CORP KIM 0.04 213490 BBG000CN3S73 9608
Omega Healthcare Investors Inc OHI 0.04 206710 BBG000BGBTC2 4641
W. P. CAREY REIT INC WPC 0.04 202695 BBG000BCQM58 2998
AO Smith Corp AOS 0.04 237259 BBG000BC1L02 3683
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 216757 BBG000BFGNJ5 683
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 192725 BBG000BS1YV5 1016
PPG INDUSTRIES INC PPG 0.04 239617 BBG000BRJ809 2308
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 227152 N/A 2540
Datadog Inc. Class A DDOG 0.04 211101 BBG003NJHZT9 1844
KEURIG DR PEPPER INC KDP 0.04 196148 BBG000TJM7F0 7478
AXON ENTERPRISE INC AXON 0.03 181005 BBG000BHJWG1 421
WORKDAY INC-CLASS A WDAY 0.03 152369 BBG000VC0T95 1227
INSMED INC INSM 0.03 170728 BBG000BWM5P3 1175
PAYCHEX INC PAYX 0.03 177676 BBG000BQSQ38 1938
COPART INC CPRT 0.03 167436 BBG000BM9RH1 5163
KRAFT HEINZ CO/THE KHC 0.03 147139 BBG005CPNTQ2 6676
DEXCOM INC DXCM 0.03 138755 BBG000QTF8K1 2229
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 164019 BBG000BBDV81 2746
MICROSTRATEGY INC-CL A MSTR 0.03 186776 BBG000GQJPZ0 1482
CHARTER COMMUNICATIONS INC-A CHTR 0.03 149234 BBG000VPGNR2 681
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 177852 BBG01BFR8YV1 2569
Zscaler Inc. ZS 0.02 132627 BBG003338H34 996
VERISK ANALYTICS INC VRSK 0.02 131214 BBG000BCZL41 718
COSTAR GROUP INC CSGP 0.02 91311.9 BBG000D7JKW9 2296
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 63687.4 BBG01BGWHFR5 978
ASTRAZENECA PLC AZNCF 0.00 565.26 BBG000D3MHB4 3

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.