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 05/13/2026
TICKER RAA
NET ASSETS $596M
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 $30.27
30 DAY MEDIAN BID-ASK SPREAD 0.000684

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

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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 05/13/2026

NET ASSET VALUE

$30.27

CLOSING PRICE

$30.28

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 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2
Premium 54 47 39 35 17
Discount 5 13 16 8 7

Asset Allocation

As of 5/13/2026

Equities

46.46%
Nasdaq
18.56%
US Large Cap
14.09%
US Small Cap
3.91%
Dividend Payers
3.85%
Emerging Ex. China
2.06%
Japan
2.04%
Europe
1.95%

Fixed Income

26.07%
Long Term Treasuries
6.73%
Corporate Bonds
5.82%
High Yield
5.81%
Emerging Mkt Bonds
3.89%
TIPS
2.88%
T-Bills
0.94%

Alternatives

27.47%
Miners
7.51%
Managed Futures
5.96%
Gold
4.93%
Commodities
3.92%
Bitcoin
2.21%
Energy
1.97%
Real Estate
0.97%

Holdings

As of 05/13/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.09 83933100 BBG00RYR67P4 590787
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 6.73 40056800 BBG00PZFJPC3 1300120
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.82 34685800 BBG000PWYVH7 420128
SCHWAB HIGH YIELD BOND ETF SCYB 5.81 34618800 BBG01F80WX71 1324360
iM DBi Managed Futures Strategy ETF DBMF 5.17 30776800 N/A 988973
SPROTT PHYSICAL GOLD TRUS PHYS 4.93 29339100 BBG000Q83F79 825987
INVESCO OPTIMUM YIELD DIVERS PDBC 3.92 23334600 N/A 1247840
VANGUARD SMALL-CAP ETF VB 3.91 23269000 BBG000HT3Z79 81454
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.89 23141900 BBG000NXKWH0 242222
SCHWAB U.S. TIPS ETF SCHP 2.88 17164800 BBG000BGN6P5 640716
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.21 13170300 N/A 374155
ISHARES MSCI EMR MRK EX CHNA EMXC 2.06 12296400 BBG00H5VLMJ6 127901
Franklin FTSE Japan ETF FLJP 2.04 12122400 BBG00J3MDY16 304124
Franklin FTSE Europe ETF FLEE 1.95 11617600 BBG00J3PR1S7 301822
NVIDIA CORP NVDA 1.78 10605700 BBG000BBJQV0 46963
BHP GROUP LTD BHP 1.49 8878310 BBG000BD5NZ4 97768
APPLE INC AAPL 1.34 8006430 BBG000B9XRY4 26789
MICROSOFT CORP MSFT 0.99 5878380 BBG000BPH459 14507
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 0.97 5760310 BBG01922X0X9 115414
NEWMONT GOLDCORP CORPORATION COM NEM 0.95 5646670 BBG000BPWXK1 47467
AMAZON.COM INC AMZN 0.91 5423940 BBG000BVPV84 20079
RIO TINTO PLC-SPON ADR RIO 0.87 5178600 BBG000FD28T3 46221
AGNICO EAGLE MINES LTD AEM 0.79 4693090 BBG000DLVDK3 23948
Simplify DBi CTA Managed Futures Index ETF SDMF 0.79 4705140 BBG020BR8WR7 182158
MICRON TECHNOLOGY INC MU 0.78 4657040 BBG000C5Z1S3 5795
FREEPORT-MCMORAN INC FCX 0.72 4308250 BBG000BJDB15 64149
Tesla Inc. TSLA 0.68 4052850 BBG000N9MNX3 9102
ALPHABET INC-CL A GOOGL 0.67 4009290 BBG009S39JX6 9958
META PLATFORMS INC META 0.62 3683750 BBG000MM2P62 5974
ALPHABET INC-CL C GOOG 0.62 3718250 BBG009S3NB30 9318
ADVANCED MICRO DEVICES INC AMD 0.60 3571570 BBG000BBQCY0 8017
Broadcom Inc. AVGO 0.60 3581890 BBG00KHY5S69 8594
Barrick Mining Corp. B 0.58 3461720 N/A 77150
GLENCORE PLC -UNSP ADR GLNCY 0.56 3348620 BBG001VKX1Z1 209813
WAL-MART STORES INC WMT 0.53 3180130 BBG000BWXBC2 24189
INTEL CORP INTC 0.52 3097230 BBG000C0G1D1 25748
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.49 2921200 BBG000PVRDL2 20540
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.40 2366250 N/A 84964
COSTCO WHOLESALE CORP COST 0.39 2305830 BBG000F6H8W8 2232
FRANCO-NEVADA CORP FNV 0.36 2171680 BBG000RD3CL8 9019
CISCO SYSTEMS INC CSCO 0.34 2015090 BBG000C3J3C9 19781
CHEVRON CORP CVX 0.31 1840470 BBG000K4ND22 9895
NETFLIX INC NFLX 0.31 1864940 BBG000CL9VN6 21299
LAM RESH CORP LRCX 0.31 1819910 BBG000BNFLM9 6160
VALE SA-SP ADR VALE 0.30 1793190 BBG000BN5LG7 106484
APPLIED MATERIALS INC AMAT 0.29 1725920 BBG000BBPFB9 3953
AUTOMATIC DATA PROCESSING ADP 0.26 1565560 BBG000JG0547 7504
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.25 1515080 BBG000N7QR55 11650
TEXAS INSTRUMENTS INC TXN 0.23 1369340 BBG000BVV7G1 4470
REALTY INCOME CORP O 0.23 1371280 BBG000DHPN63 22290
KLA CORPORATION KLAC 0.22 1287400 BBG000BMTFR4 696
FRANKLIN RESOURCES INC BEN 0.21 1230050 BBG000BD0TF8 38391
LINDE PLC LIN 0.20 1213350 BBG01FND0CC1 2364
T ROWE PRICE GROUP INC TROW 0.20 1171940 BBG000BVMPN3 11377
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1192350 N/A 30495
CANADIAN NATURAL RESOURCES CNQ 0.19 1141670 BBG000HW5GX3 24188
KENVUE INC KVUE 0.19 1137670 BBG01C79X561 66182
Kimberly-Clark Corp KMB 0.19 1147690 BBG000BMW2Z0 11827
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.19 1121210 BBG000BRK7L6 16970
SCHLUMBERGER LTD SLB 0.19 1126870 BBG000BT41Q8 20348
PPG INDUSTRIES INC PPG 0.19 1103530 BBG000BRJ809 10464
WILLIAMS COMPANIES INC. WMB 0.19 1146400 BBG000BWVCP8 15142
EVERSOURCE ENERGY ES 0.19 1125580 BBG000BQ87N0 16492
STANLEY BLACK & DECKER INC SWK 0.19 1143080 BBG000BTQR96 14719
ILLINOIS TOOL WORKS ITW 0.19 1121950 BBG000BMBL90 4486
MARATHON PETROLEUM CORP MPC 0.19 1160010 BBG001DCCGR8 4657
EXXON MOBIL CORP XOM 0.19 1124190 BBG000GZQ728 7417
OCCIDENTAL PETROLEUM CORP OXY 0.18 1071350 BBG000BQQ2S6 19070
HORMEL FOODS CORP HRL 0.18 1078370 BBG000BLF8D2 54162
EQT CORP EQT 0.18 1068100 BBG000BHZ5J9 19097
MEDTRONIC PLC MDT 0.18 1092780 BBG000BNWG87 14339
CLOROX COMPANY CLX 0.18 1100780 BBG000BFS7D3 11965
ABBVIE INC ABBV 0.18 1062100 BBG0025Y4RY4 5094
SANDISK CORP/DE SNDKV SNDK 0.18 1046350 BBG01R388JG1 723
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.18 1044440 BBG00CMNZNK7 1044440
T-MOBILE US INC TMUS 0.18 1074320 BBG000NDV1D4 5646
ANALOG DEVICES INC ADI 0.18 1044220 BBG000BB6G37 2415
PEPSICO INC PEP 0.17 1018620 BBG000DH7JK6 6824
Cheniere Energy Inc LNG 0.17 1005160 BBG000C3HSR0 4199
QUALCOMM INC QCOM 0.17 1002540 BBG000CGC1X8 4703
PALO ALTO NETWORKS INC PANW 0.16 969246 BBG0014GJCT9 4255
GENUINE PARTS CO GPC 0.15 893587 BBG000BKL348 9038
AO Smith Corp AOS 0.15 915498 BBG000BC1L02 16067
AMGEN INC AMGN 0.15 889237 BBG000BBS2Y0 2643
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.15 897450 BBG0113JGQF0 1098
WESTERN DIGITAL CORP WDC 0.14 805367 BBG000BWNFZ9 1630
J M Smucker Co COM STK NPV SJM 0.14 846904 BBG000BT1715 8396
GILEAD SCIENCES INC GILD 0.14 826107 BBG000CKGBP2 6209
INTUITIVE SURGICAL INC ISRG 0.13 777221 BBG000BJPDZ1 1798
WELLTOWER INC WELL 0.13 763446 BBG000BKY1G5 3468
International Business Machines Corporation IBM 0.13 770128 BBG000BLNNH6 3588
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.13 753084 BBG00ZXBJ153 4232
HONEYWELL INTERNATIONAL INC HON 0.12 698780 BBG000H556T9 3206
PROLOGIS INC PLD 0.12 694664 BBG000B9Z0J8 4892
APPLOVIN CORP APP 0.12 726102 BBG006HFPX77 1601
Crowdstrike Holdings Inc. Class A CRWD 0.12 735842 BBG00BLYKS03 1308
BOOKING HOLDINGS INC BKNG 0.11 649731 BBG000BLBVN4 4191
ASML HOLDING NV-NY REG SHS ASML 0.11 681661 BBG000K6MRN4 431
SHOPIFY INC - CLASS A SHOP 0.10 603500 BBG008HBD923 6326
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 584177 BBG000BBTJZ1 2747
VERTEX PHARMACEUTICALS INC VRTX 0.10 575386 BBG000C1S2X2 1270
STARBUCKS CORP SBUX 0.10 617688 BBG000CTQBF3 5830
CADENCE DESIGN SYS INC CDNS 0.09 506652 BBG000C13CD9 1429
EQUINIX INC EQIX 0.09 519249 BBG000MBDGM6 482
INTUIT INC INTU 0.09 537493 BBG000BH5DV1 1446
FASTENAL CO FAST 0.08 482783 BBG000BJ8YN7 11030
COMCAST CORP-CLASS A CMCSA 0.08 454332 BBG000BFT2L4 18217
ADOBE SYSTEMS INC ADBE 0.08 494567 BBG000BB5006 2095
CONSTELLATION ENERGY CORPORATION CEG 0.08 482707 BBG014KFRNP7 1756
Marriott International, Inc Class A MAR 0.08 462601 BBG000BGD7W6 1321
FORTINET INC FTNT 0.08 449340 BBG000BCMBG4 3818
SYNOPSYS INC SNPS 0.08 494511 BBG000BSFRF3 971
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 392928 BBG000D4LWF6 6387
MONOLITHIC POWER SYSTEMS INC MPWR 0.07 399385 BBG000C30L48 242
NXP Semiconductors NV NXPI 0.07 389425 BBG000BND699 1305
DIGITAL REALTY TRUST INC DLR 0.07 391066 BBG000Q5ZRM7 2023
MONSTER BEVERAGE CORP MNST 0.07 430252 BBG008NVB1C0 5007
MERCADOLIBRE INC MELI 0.07 395186 BBG000GQPB11 253
CSX CORP CSX 0.07 420468 BBG000BGJRC8 9470
SIMON PROPERTY GROUP INC SPG 0.07 399315 BBG000BJ2D31 1991
PUBLIC STORAGE PSA 0.06 349862 BBG000BPPN67 1152
Warner Bros Discovery Inc WBD 0.06 341851 BBG011386VF4 12545
REGENERON PHARMACEUTICALS REGN 0.06 367859 BBG000C734W3 511
ROSS STORES INC ROST 0.06 348769 BBG000BSBZH7 1647
CINTAS CORP CTAS 0.06 330044 BBG000H3YXF8 2018
OREILLY AUTOMOTIVE INC ORLY 0.06 358621 BBG000BGYWY6 3998
Datadog Inc. Class A DDOG 0.06 356418 BBG003NJHZT9 1736
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.06 331768 BBG00LBLDDR2 3331
AMERICAN ELECTRIC POWER AEP 0.06 351862 BBG000BB9KF2 2750
PACCAR INC PCAR 0.05 291634 BBG000BQVTF5 2609
Ventas Inc. VTR 0.05 297252 BBG000FRVHB9 3290
Baker Hughes Company BKR 0.05 320378 BBG00GBVBK51 4898
AIRBNB INC ABNB 0.05 282694 BBG001Y2XS07 2126
DOORDASH INC CLASS A DASH 0.05 307531 BBG005D7QCJ3 2063
DIAMONDBACK ENERGY INC FANG 0.05 278200 BBG002PHSYX9 1391
CONSOLIDATED EDISON INC ED 0.05 288968 BBG000BHLYS1 2722
MICROSTRATEGY INC-CL A MSTR 0.05 268291 BBG000GQJPZ0 1507
XCEL ENERGY INC XEL 0.04 241728 BBG000BCTQ65 3025
PAYPAL HOLDINGS INC PYPL 0.04 213214 BBG0077VNXV6 4714
MICROCHIP TECHNOLOGY INC MCHP 0.04 260440 BBG000BHCP19 2693
IDEXX LABS IDXX 0.04 216230 BBG000BLRT07 409
AIR PRODUCTS & CHEMICALS INC APD 0.04 237305 BBG000BC4JJ4 775
EXELON CORP EXC 0.04 232727 BBG000J6XT05 5257
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 221315 BBG000BS1YV5 975
VICI PROPERTIES INC REIT VICI 0.04 226808 BBG00HVVB499 8040
FERROVIAL SE FER 0.04 244780 BBG01H7CZ9S9 3605
EXTRA SPACE STORAGE INC EXR 0.04 231843 BBG000PV27K3 1628
MCDONALDS CORP MCD 0.04 216976 BBG000BNSZP1 787
AUTODESK INC ADSK 0.04 254133 BBG000BM7HL0 1100
AVALONBAY COMMUNITIES INC AVB 0.04 233821 BBG000BLPBL5 1254
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 210906 BBG00B6BFWH9 2307
ELECTRONIC ARTS INC EA 0.04 256030 BBG000BP0KQ8 1279
PAYCHEX INC PAYX 0.03 172017 BBG000BQSQ38 1913
ROPER TECHNOLOGIES INC ROP 0.03 163185 BBG000F1ZSN5 516
Old Dominion Freight Line Inc. ODFL 0.03 195990 BBG000CHSS88 1036
AXON ENTERPRISE INC AXON 0.03 158264 BBG000BHJWG1 420
IRON MOUNTAIN INC IRM 0.03 175307 BBG000KCZPC3 1390
EQUITY RESIDENTIAL EQR 0.03 173594 BBG000BG8M31 2637
KEURIG DR PEPPER INC KDP 0.03 195967 BBG000TJM7F0 6686
COPART INC CPRT 0.03 165688 BBG000BM9RH1 5030
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 189753 BBG000BFGNJ5 651
THOMSON REUTERS CORP TRI 0.03 175517 N/A 2139.67
INSMED INC INSM 0.02 124715 BBG000BWM5P3 1057
Sun Communities Inc SUI 0.02 111728 BBG000BLJWF3 899
KRAFT HEINZ CO/THE KHC 0.02 135974 BBG005CPNTQ2 5866
Omega Healthcare Investors Inc OHI 0.02 117936 BBG000BGBTC2 2457
COGNIZANT TECH SOLUTIONS-A CTSH 0.02 116166 BBG000BBDV81 2527
ESSEX PROPERTY TRUST INC ESS 0.02 119382 BBG000CGJMB9 439
MID-AMERICA APARTMENT COMM MAA 0.02 116535 BBG000BLMY92 901
CHARTER COMMUNICATIONS INC-A CHTR 0.02 91558.4 BBG000VPGNR2 640
VERISK ANALYTICS INC VRSK 0.02 115128 BBG000BCZL41 713
Zscaler Inc. ZS 0.02 134443 BBG003338H34 882
KIMCO REALTY CORP KIM 0.02 113000 BBG000CN3S73 4896
INVITATION HOMES INC REIT USD.01 INVH 0.02 112218 BBG00FQH6BS9 3943
WORKDAY INC-CLASS A WDAY 0.02 127451 BBG000VC0T95 1094
DEXCOM INC DXCM 0.02 114621 BBG000QTF8K1 1957
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 136839 BBG01BFR8YV1 2211
W. P. CAREY REIT INC WPC 0.02 116989 BBG000BCQM58 1582
Cash & Other Cash&Other -0.14 -861340 N/A -861340

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.