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 03/19/2026
TICKER RAA
NET ASSETS $536M
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 $27.69
30 DAY MEDIAN BID-ASK SPREAD 0.000707

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 03/19/2026

NET ASSET VALUE

$27.69

CLOSING PRICE

$27.72

PREMIUM/DISCOUNT

0.12%
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 32
Discount 0 5 13 16 6

Asset Allocation

As of 3/19/2026

Equities

44.64%
Nasdaq
18.28%
US Large Cap
15.03%
Dividend Payers
4.62%
US Small Cap
1.98%
Emerging Ex. China
1.90%
Japan
1.89%
Europe
0.94%

Fixed Income

31.81%
Corporate Bonds
9.13%
High Yield
8.17%
Emerging Mkt Bonds
5.03%
Long Term Treasuries
5.01%
TIPS
3.09%
T-Bills
1.38%

Alternatives

23.55%
Managed Futures
7.00%
Energy
4.29%
Miners
4.17%
Gold
3.64%
Commodities
2.41%
Real Estate
2.04%
Bitcoin
0.00%

Holdings

As of 03/19/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 15.03 80539900 BBG00RYR67P4 637637
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 9.13 48922600 BBG000PWYVH7 589927
SCHWAB HIGH YIELD BOND ETF SCYB 8.17 43773700 BBG01F80WX71 1680370
iM DBi Managed Futures Strategy ETF DBMF 7.00 37521200 N/A 1240780
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 5.03 26936900 BBG000NXKWH0 284655
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.01 26840200 BBG00PZFJPC3 846693
SPROTT PHYSICAL GOLD TRUS PHYS 3.64 19515500 BBG000Q83F79 556790
SCHWAB U.S. TIPS ETF SCHP 3.09 16556000 BBG000BGN6P5 618221
INVESCO OPTIMUM YIELD DIVERS PDBC 2.41 12885900 N/A 748311
VANGUARD SMALL-CAP ETF VB 1.98 10627000 BBG000HT3Z79 40353
ISHARES MSCI EMR MRK EX CHNA EMXC 1.90 10185900 BBG00H5VLMJ6 127022
Franklin FTSE Japan ETF FLJP 1.89 10104700 BBG00J3MDY16 280997
NVIDIA CORP NVDA 1.62 8680160 BBG000BBJQV0 48612
APPLE INC AAPL 1.36 7303240 BBG000B9XRY4 29335
MICROSOFT CORP MSFT 1.07 5739210 BBG000BPH459 14753
ISHARES MSCI GLOBAL METALS & PICK 1.04 5561840 BBG002GKR8T5 103380
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.04 5562470 BBG01922X0X9 111383
Franklin FTSE Europe ETF FLEE 0.94 5046010 BBG00J3PR1S7 140479
AMAZON.COM INC AMZN 0.81 4340540 BBG000BVPV84 20792
Tesla Inc. TSLA 0.70 3771050 BBG000N9MNX3 9916
META PLATFORMS INC META 0.66 3544340 BBG000MM2P62 5842
ALPHABET INC-CL A GOOGL 0.65 3477020 BBG009S39JX6 11321
CHEVRON CORP CVX 0.63 3357800 BBG000K4ND22 16669
ALPHABET INC-CL C GOOG 0.60 3216590 BBG009S3NB30 10521
WAL-MART STORES INC WMT 0.58 3090550 BBG000BWXBC2 25575
Broadcom Inc. AVGO 0.55 2964280 BBG00KHY5S69 9268
MICRON TECHNOLOGY INC MU 0.51 2712270 BBG000C5Z1S3 6105
Cheniere Energy Inc LNG 0.50 2671850 BBG000C3HSR0 9479
MARATHON PETROLEUM CORP MPC 0.50 2688130 BBG001DCCGR8 11401
BHP GROUP LTD BHP 0.48 2580410 BBG000BD5NZ4 38302
CANADIAN NATURAL RESOURCES CNQ 0.48 2564790 BBG000HW5GX3 51131
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.47 2497530 BBG000BRK7L6 39443
OCCIDENTAL PETROLEUM CORP OXY 0.47 2522260 BBG000BQQ2S6 42334
EQT CORP EQT 0.44 2337860 BBG000BHZ5J9 36145
COSTCO WHOLESALE CORP COST 0.43 2292680 BBG000F6H8W8 2352
EXXON MOBIL CORP XOM 0.43 2327640 BBG000GZQ728 14717
ISHARES MSCI GLOBAL GOLD MIN RING 0.42 2235170 BBG002GKR6T9 31001
WILLIAMS COMPANIES INC. WMB 0.41 2199580 BBG000BWVCP8 29700
SCHLUMBERGER LTD SLB 0.39 2081990 BBG000BT41Q8 43538
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.36 1916110 BBG000N7QR55 12308
NETFLIX INC NFLX 0.35 1857830 BBG000CL9VN6 20251
REALTY INCOME CORP O 0.34 1801780 BBG000DHPN63 28764
ADVANCED MICRO DEVICES INC AMD 0.34 1834910 BBG000BBQCY0 8939
AUTOMATIC DATA PROCESSING ADP 0.34 1822630 BBG000JG0547 8652
NEWMONT GOLDCORP CORPORATION COM NEM 0.32 1688090 BBG000BPWXK1 17017
FREEPORT-MCMORAN INC FCX 0.32 1736480 BBG000BJDB15 32385
CISCO SYSTEMS INC CSCO 0.31 1658990 BBG000C3J3C9 21131
LAM RESH CORP LRCX 0.30 1595810 BBG000BNFLM9 6820
AGNICO EAGLE MINES LTD AEM 0.29 1560100 BBG000DLVDK3 8443
APPLIED MATERIALS INC AMAT 0.29 1540650 BBG000BBPFB9 4313
RIO TINTO PLC-SPON ADR RIO 0.28 1500500 BBG000FD28T3 17519
WELLTOWER INC WELL 0.27 1469220 BBG000BKY1G5 7129
FASTENAL CO FAST 0.26 1374340 BBG000BJ8YN7 30891
TARGET CORP TGT 0.26 1408210 BBG000H8TVT2 12302
AIR PRODUCTS & CHEMICALS INC APD 0.24 1291180 BBG000BC4JJ4 4544
FRANKLIN RESOURCES INC BEN 0.24 1262030 BBG000BD0TF8 52871
EVERSOURCE ENERGY ES 0.24 1278500 BBG000BQ87N0 18364
T ROWE PRICE GROUP INC TROW 0.24 1292850 BBG000BVMPN3 14845
PROLOGIS INC PLD 0.24 1269610 BBG000B9Z0J8 9685
KENVUE INC KVUE 0.24 1272090 BBG01C79X561 72983
Kimberly-Clark Corp KMB 0.23 1233930 BBG000BMW2Z0 12517
HORMEL FOODS CORP HRL 0.23 1206750 BBG000BLF8D2 53945
LINDE PLC LIN 0.23 1214700 BBG01FND0CC1 2480
ILLINOIS TOOL WORKS ITW 0.23 1249670 BBG000BMBL90 4795
ABBVIE INC ABBV 0.23 1245840 BBG0025Y4RY4 6041
T-MOBILE US INC TMUS 0.23 1221980 BBG000NDV1D4 5915
INTEL CORP INTC 0.22 1185530 BBG000C0G1D1 25672
STANLEY BLACK & DECKER INC SWK 0.21 1120610 BBG000BTQR96 16229
AMCOR PLC COMMON STOCK USD.01 AMCR 0.21 1108620 N/A 28653.8
PEPSICO INC PEP 0.21 1107820 BBG000DH7JK6 7253
KLA CORPORATION KLAC 0.20 1071670 BBG000BMTFR4 709
Barrick Mining Corp. B 0.20 1094270 N/A 28586
GENUINE PARTS CO GPC 0.20 1090390 BBG000BKL348 11004
GLENCORE PLC -UNSP ADR GLNCY 0.19 1027870 BBG001VKX1Z1 74081
EQUINIX INC EQIX 0.19 1005950 BBG000MBDGM6 1032
MEDTRONIC PLC MDT 0.19 1027850 BBG000BNWG87 11832
CLOROX COMPANY CLX 0.19 1026110 BBG000BFS7D3 9624
International Business Machines Corporation IBM 0.19 1016750 BBG000BLNNH6 4061
FRANCO-NEVADA CORP FNV 0.18 961399 BBG000RD3CL8 4161
AMGEN INC AMGN 0.18 989924 BBG000BBS2Y0 2829
TEXAS INSTRUMENTS INC TXN 0.18 938061 BBG000BVV7G1 4982
INTUITIVE SURGICAL INC ISRG 0.17 918586 BBG000BJPDZ1 1914
GILEAD SCIENCES INC GILD 0.17 910724 BBG000CKGBP2 6454
SHOPIFY INC - CLASS A SHOP 0.16 848391 BBG008HBD923 6933
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.16 871302 BBG000PVRDL2 7186
VALE SA-SP ADR VALE 0.16 851685 BBG000BN5LG7 58215
ANALOG DEVICES INC ADI 0.15 821735 BBG000BB6G37 2647
HONEYWELL INTERNATIONAL INC HON 0.15 777557 BBG000H556T9 3395
QUALCOMM INC QCOM 0.14 771795 BBG000CGC1X8 5879
PALO ALTO NETWORKS INC PANW 0.14 748723 BBG0014GJCT9 4411
BOOKING HOLDINGS INC BKNG 0.14 747206 BBG000BLBVN4 174
DIGITAL REALTY TRUST INC DLR 0.14 733069 BBG000Q5ZRM7 4076
APPLOVIN CORP APP 0.14 738626 BBG006HFPX77 1679
SIMON PROPERTY GROUP INC SPG 0.14 726404 BBG000BJ2D31 3797
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.13 716598 N/A 35812
INTUIT INC INTU 0.12 665561 BBG000BH5DV1 1462
ASML HOLDING NV-NY REG SHS ASML 0.12 644936 BBG000K6MRN4 472
CONSTELLATION ENERGY CORPORATION CEG 0.11 608255 BBG014KFRNP7 1922
VERTEX PHARMACEUTICALS INC VRTX 0.11 599129 BBG000C1S2X2 1308
STARBUCKS CORP SBUX 0.11 586000 BBG000CTQBF3 6115
Crowdstrike Holdings Inc. Class A CRWD 0.11 601593 BBG00BLYKS03 1405
WESTERN DIGITAL CORP WDC 0.11 582200 BBG000BWNFZ9 1837
PUBLIC STORAGE PSA 0.11 597646 BBG000BPPN67 2155
CINCINNATI FINANCIAL CORP CINF 0.10 531199 BBG000BFPK65 3365
COMCAST CORP-CLASS A CMCSA 0.10 561256 BBG000BFT2L4 19367
ADOBE SYSTEMS INC ADBE 0.10 546344 BBG000BB5006 2221
Ventas Inc. VTR 0.10 547007 BBG000FRVHB9 6394
Marriott International, Inc Class A MAR 0.09 486035 BBG000BGD7W6 1496
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.09 505440 BBG0113JGQF0 1163
VICI PROPERTIES INC REIT VICI 0.09 462817 BBG00HVVB499 16541
CADENCE DESIGN SYS INC CDNS 0.08 412706 BBG000C13CD9 1436
MERCADOLIBRE INC MELI 0.08 446737 BBG000GQPB11 268
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.08 417568 BBG00ZXBJ153 4664
SYNOPSYS INC SNPS 0.08 436814 BBG000BSFRF3 1020
IRON MOUNTAIN INC IRM 0.07 372222 BBG000KCZPC3 3547
EQUITY RESIDENTIAL EQR 0.07 363452 BBG000BG8M31 6128
REGENERON PHARMACEUTICALS REGN 0.07 400435 BBG000C734W3 543
EXTRA SPACE STORAGE INC EXR 0.07 399267 BBG000PV27K3 2936
ROSS STORES INC ROST 0.07 373500 BBG000BSBZH7 1773
CINTAS CORP CTAS 0.07 386389 BBG000H3YXF8 2125
CSX CORP CSX 0.07 388788 BBG000BGJRC8 10101
MONSTER BEVERAGE CORP MNST 0.07 383153 BBG008NVB1C0 5196
AVALONBAY COMMUNITIES INC AVB 0.07 361380 BBG000BLPBL5 2187
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.07 353573 BBG00LBLDDR2 3629
OREILLY AUTOMOTIVE INC ORLY 0.07 388474 BBG000BGYWY6 4419
AMERICAN ELECTRIC POWER AEP 0.07 362862 BBG000BB9KF2 2819
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 388425 BBG000D4LWF6 6876
Warner Bros Discovery Inc WBD 0.07 370795 BBG011386VF4 13420
Baker Hughes Company BKR 0.06 315874 BBG00GBVBK51 5203
AIRBNB INC ABNB 0.06 301079 BBG001Y2XS07 2302
DOORDASH INC CLASS A DASH 0.06 348142 BBG005D7QCJ3 2186
FORTINET INC FTNT 0.06 343867 BBG000BCMBG4 4137
CONSOLIDATED EDISON INC ED 0.06 298771 BBG000BHLYS1 2675
PACCAR INC PCAR 0.06 319253 BBG000BQVTF5 2829
EXELON CORP EXC 0.05 252341 BBG000J6XT05 5256
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 285192 BBG000C30L48 261
ESSEX PROPERTY TRUST INC ESS 0.05 264505 BBG000CGJMB9 1074
IDEXX LABS IDXX 0.05 242377 BBG000BLRT07 418
NXP Semiconductors NV NXPI 0.05 264674 BBG000BND699 1376
MID-AMERICA APARTMENT COMM MAA 0.05 256366 BBG000BLMY92 2059
JOHNSON & JOHNSON JNJ 0.05 266112 BBG000BMHYD1 1120
INVITATION HOMES INC REIT USD.01 INVH 0.05 263500 BBG00FQH6BS9 10540
AUTODESK INC ADSK 0.05 271920 BBG000BM7HL0 1098
FERROVIAL SE FER 0.05 246824 BBG01H7CZ9S9 3887
MCDONALDS CORP MCD 0.05 253236 BBG000BNSZP1 818
DIAMONDBACK ENERGY INC FANG 0.05 288700 BBG002PHSYX9 1517
ELECTRONIC ARTS INC EA 0.05 271333 BBG000BP0KQ8 1352
XCEL ENERGY INC XEL 0.05 248531 BBG000BCTQ65 3125
AXON ENTERPRISE INC AXON 0.04 211418 BBG000BHJWG1 421
Old Dominion Freight Line Inc. ODFL 0.04 201508 BBG000CHSS88 1105
Omega Healthcare Investors Inc OHI 0.04 212798 BBG000BGBTC2 4546
PPG INDUSTRIES INC PPG 0.04 223323 BBG000BRJ809 2270
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.04 201145 BBG000BS1YV5 997
KIMCO REALTY CORP KIM 0.04 216584 BBG000CN3S73 9380
THOMSON REUTERS CORP COMMON STOCK TRI 0.04 231565 N/A 2483
KEURIG DR PEPPER INC KDP 0.04 198385 BBG000TJM7F0 7307
ALNYLAM PHARMACEUTICALS INC ALNY 0.04 212481 BBG000BFGNJ5 683
MICROSTRATEGY INC-CL A MSTR 0.04 202245 BBG000GQJPZ0 1463
Datadog Inc. Class A DDOG 0.04 234672 BBG003NJHZT9 1806
W. P. CAREY REIT INC WPC 0.04 204047 BBG000BCQM58 2941
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 232797 BBG00B6BFWH9 2458
Sun Communities Inc SUI 0.04 214381 BBG000BLJWF3 1635
ROPER TECHNOLOGIES INC ROP 0.04 201358 BBG000F1ZSN5 570
AO Smith Corp AOS 0.04 232796 BBG000BC1L02 3607
MICROCHIP TECHNOLOGY INC MCHP 0.04 191452 BBG000BHCP19 3025
PAYPAL HOLDINGS INC PYPL 0.04 218652 BBG0077VNXV6 4948
KRAFT HEINZ CO/THE KHC 0.03 141962 BBG005CPNTQ2 6524
COGNIZANT TECH SOLUTIONS-A CTSH 0.03 165508 BBG000BBDV81 2689
VERISK ANALYTICS INC VRSK 0.03 144813 BBG000BCZL41 718
Zscaler Inc. ZS 0.03 151826 BBG003338H34 977
CHARTER COMMUNICATIONS INC-A CHTR 0.03 144120 BBG000VPGNR2 681
COPART INC CPRT 0.03 164193 BBG000BM9RH1 5049
WORKDAY INC-CLASS A WDAY 0.03 161123 BBG000VC0T95 1208
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 176795 BBG01BFR8YV1 2512
DEXCOM INC DXCM 0.03 147389 BBG000QTF8K1 2191
Cash & Other Cash&Other 0.03 148573 N/A 148573
INSMED INC INSM 0.03 166464 BBG000BWM5P3 1156
PAYCHEX INC PAYX 0.03 174249 BBG000BQSQ38 1900
COSTAR GROUP INC CSGP 0.02 96687.6 BBG000D7JKW9 2258
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.02 125521 BBG00CMNZNK7 125521
ATLASSIAN CORP PLC-CLASS A TEAM 0.01 71541.4 BBG01BGWHFR5 959
ASTRAZENECA PLC AZNCF 0.00 566.79 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.