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 03/17/2026
TICKER RAA
NET ASSETS $544M
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 $28.18
30 DAY MEDIAN BID-ASK SPREAD 0.000706

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 03/17/2026

NET ASSET VALUE

$28.18

CLOSING PRICE

$28.18

PREMIUM/DISCOUNT

0.03%
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 30
Discount 0 5 13 16 6

Asset Allocation

As of 3/17/2026

Equities

44.71%
Nasdaq
18.33%
US Large Cap
15.04%
Dividend Payers
4.64%
US Small Cap
1.97%
Emerging Ex. China
1.90%
Japan
1.88%
Europe
0.95%

Fixed Income

31.39%
Corporate Bonds
9.02%
High Yield
8.07%
Emerging Mkt Bonds
4.97%
Long Term Treasuries
4.94%
TIPS
3.05%
T-Bills
1.34%

Alternatives

23.90%
Managed Futures
7.08%
Miners
4.43%
Energy
4.11%
Gold
3.88%
Commodities
2.36%
Real Estate
2.04%
Bitcoin
0.00%

Holdings

As of 03/17/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.04 81872600 BBG00RYR67P4 637637
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.02 49070100 BBG000PWYVH7 589927
SCHWAB HIGH YIELD BOND ETF SCYB 8.07 43924900 BBG01F80WX71 1680370
iM DBi Managed Futures Strategy ETF DBMF 7.08 38551000 N/A 1240780
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.97 27070700 BBG000NXKWH0 284655
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 4.94 26865600 BBG00PZFJPC3 846693
SPROTT PHYSICAL GOLD TRUS PHYS 3.88 21130200 BBG000Q83F79 556790
SCHWAB U.S. TIPS ETF SCHP 3.05 16611600 BBG000BGN6P5 618221
INVESCO OPTIMUM YIELD DIVERS PDBC 2.36 12848500 N/A 748311
VANGUARD SMALL-CAP ETF VB 1.97 10710500 BBG000HT3Z79 40353
ISHARES MSCI EMR MRK EX CHNA EMXC 1.90 10325600 BBG00H5VLMJ6 127022
Franklin FTSE Japan ETF FLJP 1.88 10231100 BBG00J3MDY16 280997
NVIDIA CORP NVDA 1.62 8843980 BBG000BBJQV0 48612
APPLE INC AAPL 1.37 7457840 BBG000B9XRY4 29335
MICROSOFT CORP MSFT 1.08 5892500 BBG000BPH459 14753
ISHARES MSCI GLOBAL METALS & PICK 1.07 5849240 BBG002GKR8T5 103380
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.02 5562470 BBG01922X0X9 111383
Franklin FTSE Europe ETF FLEE 0.95 5164010 BBG00J3PR1S7 140479
AMAZON.COM INC AMZN 0.82 4474440 BBG000BVPV84 20792
Tesla Inc. TSLA 0.73 3959160 BBG000N9MNX3 9916
META PLATFORMS INC META 0.67 3637580 BBG000MM2P62 5842
ALPHABET INC-CL A GOOGL 0.65 3519930 BBG009S39JX6 11321
CHEVRON CORP CVX 0.61 3299960 BBG000K4ND22 16669
ALPHABET INC-CL C GOOG 0.60 3255300 BBG009S3NB30 10521
WAL-MART STORES INC WMT 0.59 3198920 BBG000BWXBC2 25575
Broadcom Inc. AVGO 0.55 2977900 BBG00KHY5S69 9268
MICRON TECHNOLOGY INC MU 0.52 2818620 BBG000C5Z1S3 6105
BHP GROUP LTD BHP 0.50 2699520 BBG000BD5NZ4 38302
MARATHON PETROLEUM CORP MPC 0.49 2659400 BBG001DCCGR8 11401
ISHARES MSCI GLOBAL GOLD MIN RING 0.47 2532160 BBG002GKR6T9 31001
CANADIAN NATURAL RESOURCES CNQ 0.46 2504400 BBG000HW5GX3 51131
OCCIDENTAL PETROLEUM CORP OXY 0.45 2443940 BBG000BQQ2S6 42334
Cheniere Energy Inc LNG 0.44 2383970 BBG000C3HSR0 9479
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.44 2418640 BBG000BRK7L6 39443
EQT CORP EQT 0.43 2328820 BBG000BHZ5J9 36145
COSTCO WHOLESALE CORP COST 0.43 2342970 BBG000F6H8W8 2352
EXXON MOBIL CORP XOM 0.43 2337210 BBG000GZQ728 14717
WILLIAMS COMPANIES INC. WMB 0.40 2188590 BBG000BWVCP8 29700
SCHLUMBERGER LTD SLB 0.37 2008410 BBG000BT41Q8 43538
NEWMONT GOLDCORP CORPORATION COM NEM 0.35 1889570 BBG000BPWXK1 17017
NETFLIX INC NFLX 0.35 1910880 BBG000CL9VN6 20251
FREEPORT-MCMORAN INC FCX 0.35 1881240 BBG000BJDB15 32385
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.35 1908720 BBG000N7QR55 12308
REALTY INCOME CORP O 0.34 1843480 BBG000DHPN63 28764
AUTOMATIC DATA PROCESSING ADP 0.33 1814580 BBG000JG0547 8652
ADVANCED MICRO DEVICES INC AMD 0.32 1754820 BBG000BBQCY0 8939
AGNICO EAGLE MINES LTD AEM 0.32 1768390 BBG000DLVDK3 8443
CISCO SYSTEMS INC CSCO 0.31 1675050 BBG000C3J3C9 21131
RIO TINTO PLC-SPON ADR RIO 0.29 1573210 BBG000FD28T3 17519
APPLIED MATERIALS INC AMAT 0.28 1520160 BBG000BBPFB9 4313
WELLTOWER INC WELL 0.28 1519620 BBG000BKY1G5 7129
LAM RESH CORP LRCX 0.28 1544530 BBG000BNFLM9 6820
FASTENAL CO FAST 0.26 1418820 BBG000BJ8YN7 30891
TARGET CORP TGT 0.26 1436380 BBG000H8TVT2 12302
KENVUE INC KVUE 0.24 1296910 BBG01C79X561 72983
AIR PRODUCTS & CHEMICALS INC APD 0.24 1300270 BBG000BC4JJ4 4544
FRANKLIN RESOURCES INC BEN 0.24 1301680 BBG000BD0TF8 52871
EVERSOURCE ENERGY ES 0.24 1330290 BBG000BQ87N0 18364
ILLINOIS TOOL WORKS ITW 0.24 1283810 BBG000BMBL90 4795
T ROWE PRICE GROUP INC TROW 0.24 1312150 BBG000BVMPN3 14845
ABBVIE INC ABBV 0.24 1327570 BBG0025Y4RY4 6041
PROLOGIS INC PLD 0.24 1290140 BBG000B9Z0J8 9685
Kimberly-Clark Corp KMB 0.23 1257710 BBG000BMW2Z0 12517
HORMEL FOODS CORP HRL 0.23 1236420 BBG000BLF8D2 53945
LINDE PLC LIN 0.23 1225240 BBG01FND0CC1 2480
T-MOBILE US INC TMUS 0.23 1261970 BBG000NDV1D4 5915
Barrick Mining Corp. B 0.22 1223480 N/A 28586
PEPSICO INC PEP 0.21 1135090 BBG000DH7JK6 7253
INTEL CORP INTC 0.21 1131110 BBG000C0G1D1 25672
GENUINE PARTS CO GPC 0.21 1131430 BBG000BKL348 11004
STANLEY BLACK & DECKER INC SWK 0.21 1152750 BBG000BTQR96 16229
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.21 1157650 BBG00CMNZNK7 1157650
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1166500 N/A 28653.8
CLOROX COMPANY CLX 0.20 1072110 BBG000BFS7D3 9624
FRANCO-NEVADA CORP FNV 0.19 1060510 BBG000RD3CL8 4161
GLENCORE PLC -UNSP ADR GLNCY 0.19 1029390 BBG001VKX1Z1 74081
EQUINIX INC EQIX 0.19 1008140 BBG000MBDGM6 1032
MEDTRONIC PLC MDT 0.19 1046420 BBG000BNWG87 11832
AMGEN INC AMGN 0.19 1021640 BBG000BBS2Y0 2829
KLA CORPORATION KLAC 0.19 1050280 BBG000BMTFR4 709
International Business Machines Corporation IBM 0.19 1040060 BBG000BLNNH6 4061
TEXAS INSTRUMENTS INC TXN 0.18 968750 BBG000BVV7G1 4982
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.18 985847 BBG000PVRDL2 7186
INTUITIVE SURGICAL INC ISRG 0.17 924003 BBG000BJPDZ1 1914
GILEAD SCIENCES INC GILD 0.17 931958 BBG000CKGBP2 6454
SHOPIFY INC - CLASS A SHOP 0.16 886037 BBG008HBD923 6933
VALE SA-SP ADR VALE 0.16 879046 BBG000BN5LG7 58215
ANALOG DEVICES INC ADI 0.15 830258 BBG000BB6G37 2647
HONEYWELL INTERNATIONAL INC HON 0.14 785671 BBG000H556T9 3395
QUALCOMM INC QCOM 0.14 773618 BBG000CGC1X8 5879
PALO ALTO NETWORKS INC PANW 0.14 746297 BBG0014GJCT9 4411
BOOKING HOLDINGS INC BKNG 0.14 772965 BBG000BLBVN4 174
DIGITAL REALTY TRUST INC DLR 0.14 735270 BBG000Q5ZRM7 4076
APPLOVIN CORP APP 0.14 770812 BBG006HFPX77 1679
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.14 752052 N/A 35812
SIMON PROPERTY GROUP INC SPG 0.13 723442 BBG000BJ2D31 3797
INTUIT INC INTU 0.12 671467 BBG000BH5DV1 1462
ASML HOLDING NV-NY REG SHS ASML 0.12 655684 BBG000K6MRN4 472
WESTERN DIGITAL CORP WDC 0.11 576469 BBG000BWNFZ9 1837
PUBLIC STORAGE PSA 0.11 616610 BBG000BPPN67 2155
COMCAST CORP-CLASS A CMCSA 0.11 582559 BBG000BFT2L4 19367
CONSTELLATION ENERGY CORPORATION CEG 0.11 591380 BBG014KFRNP7 1922
VERTEX PHARMACEUTICALS INC VRTX 0.11 604937 BBG000C1S2X2 1308
STARBUCKS CORP SBUX 0.11 596641 BBG000CTQBF3 6115
Crowdstrike Holdings Inc. Class A CRWD 0.11 608646 BBG00BLYKS03 1405
Ventas Inc. VTR 0.10 562672 BBG000FRVHB9 6394
CINCINNATI FINANCIAL CORP CINF 0.10 554451 BBG000BFPK65 3365
ADOBE SYSTEMS INC ADBE 0.10 564578 BBG000BB5006 2221
Marriott International, Inc Class A MAR 0.09 489611 BBG000BGD7W6 1496
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.09 489728 BBG0113JGQF0 1163
VICI PROPERTIES INC REIT VICI 0.09 473403 BBG00HVVB499 16541
MERCADOLIBRE INC MELI 0.09 463142 BBG000GQPB11 268
CADENCE DESIGN SYS INC CDNS 0.08 421825 BBG000C13CD9 1436
REGENERON PHARMACEUTICALS REGN 0.08 412164 BBG000C734W3 543
CINTAS CORP CTAS 0.08 409785 BBG000H3YXF8 2125
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 423445 BBG00ZXBJ153 4664
SYNOPSYS INC SNPS 0.08 437875 BBG000BSFRF3 1020
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 398395 BBG000D4LWF6 6876
Warner Bros Discovery Inc WBD 0.07 370929 BBG011386VF4 13420
IRON MOUNTAIN INC IRM 0.07 382934 BBG000KCZPC3 3547
EQUITY RESIDENTIAL EQR 0.07 373931 BBG000BG8M31 6128
EXTRA SPACE STORAGE INC EXR 0.07 406225 BBG000PV27K3 2936
DOORDASH INC CLASS A DASH 0.07 371205 BBG005D7QCJ3 2186
ROSS STORES INC ROST 0.07 370894 BBG000BSBZH7 1773
CSX CORP CSX 0.07 407121 BBG000BGJRC8 10101
MONSTER BEVERAGE CORP MNST 0.07 403158 BBG008NVB1C0 5196
AVALONBAY COMMUNITIES INC AVB 0.07 373037 BBG000BLPBL5 2187
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 378759 BBG00LBLDDR2 3629
OREILLY AUTOMOTIVE INC ORLY 0.07 395014 BBG000BGYWY6 4419
AMERICAN ELECTRIC POWER AEP 0.07 376675 BBG000BB9KF2 2819
PACCAR INC PCAR 0.06 326551 BBG000BQVTF5 2829
AIRBNB INC ABNB 0.06 303749 BBG001Y2XS07 2302
FORTINET INC FTNT 0.06 344033 BBG000BCMBG4 4137
CONSOLIDATED EDISON INC ED 0.06 307358 BBG000BHLYS1 2675
XCEL ENERGY INC XEL 0.05 254406 BBG000BCTQ65 3125
EXELON CORP EXC 0.05 263010 BBG000J6XT05 5256
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 278398 BBG000C30L48 261
ESSEX PROPERTY TRUST INC ESS 0.05 269638 BBG000CGJMB9 1074
Baker Hughes Company BKR 0.05 296571 BBG00GBVBK51 5203
IDEXX LABS IDXX 0.05 245358 BBG000BLRT07 418
NXP Semiconductors NV NXPI 0.05 266972 BBG000BND699 1376
MID-AMERICA APARTMENT COMM MAA 0.05 263696 BBG000BLMY92 2059
JOHNSON & JOHNSON JNJ 0.05 266683 BBG000BMHYD1 1120
INVITATION HOMES INC REIT USD.01 INVH 0.05 267716 BBG00FQH6BS9 10540
AUTODESK INC ADSK 0.05 277706 BBG000BM7HL0 1098
FERROVIAL SE FER 0.05 253432 BBG01H7CZ9S9 3887
MCDONALDS CORP MCD 0.05 266913 BBG000BNSZP1 818
DIAMONDBACK ENERGY INC FANG 0.05 284013 BBG002PHSYX9 1517
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.05 247693 BBG00B6BFWH9 2458
ELECTRONIC ARTS INC EA 0.05 270576 BBG000BP0KQ8 1352
Sun Communities Inc SUI 0.04 221166 BBG000BLJWF3 1635
ROPER TECHNOLOGIES INC ROP 0.04 201147 BBG000F1ZSN5 570
AO Smith Corp AOS 0.04 237124 BBG000BC1L02 3607
MICROCHIP TECHNOLOGY INC MCHP 0.04 195385 BBG000BHCP19 3025
PAYPAL HOLDINGS INC PYPL 0.04 228251 BBG0077VNXV6 4948
AXON ENTERPRISE INC AXON 0.04 213266 BBG000BHJWG1 421
Old Dominion Freight Line Inc. ODFL 0.04 203795 BBG000CHSS88 1105
Omega Healthcare Investors Inc OHI 0.04 215026 BBG000BGBTC2 4546
PPG INDUSTRIES INC PPG 0.04 235853 BBG000BRJ809 2270
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 206100 BBG000BS1YV5 997
KIMCO REALTY CORP KIM 0.04 217897 BBG000CN3S73 9380
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 237176 N/A 2483
KEURIG DR PEPPER INC KDP 0.04 201454 BBG000TJM7F0 7307
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 218847 BBG000BFGNJ5 683
MICROSTRATEGY INC-CL A MSTR 0.04 219860 BBG000GQJPZ0 1463
Datadog Inc. Class A DDOG 0.04 232739 BBG003NJHZT9 1806
W. P. CAREY REIT INC WPC 0.04 210870 BBG000BCQM58 2941
INSMED INC INSM 0.03 166383 BBG000BWM5P3 1156
PAYCHEX INC PAYX 0.03 175617 BBG000BQSQ38 1900
KRAFT HEINZ CO/THE KHC 0.03 149334 BBG005CPNTQ2 6524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 164889 BBG000BBDV81 2689
VERISK ANALYTICS INC VRSK 0.03 146321 BBG000BCZL41 718
Zscaler Inc. ZS 0.03 152412 BBG003338H34 977
CHARTER COMMUNICATIONS INC-A CHTR 0.03 151536 BBG000VPGNR2 681
COPART INC CPRT 0.03 171918 BBG000BM9RH1 5049
WORKDAY INC-CLASS A WDAY 0.03 163285 BBG000VC0T95 1208
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 181718 BBG01BFR8YV1 2512
DEXCOM INC DXCM 0.03 147498 BBG000QTF8K1 2191
COSTAR GROUP INC CSGP 0.02 99916.5 BBG000D7JKW9 2258
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 71838.7 BBG01BGWHFR5 959
ASTRAZENECA PLC AZNCF 0.00 573.87 BBG000D3MHB4 3
Cash & Other Cash&Other -0.16 -870239 N/A -870239

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.