RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

How to Buy
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 07/15/2026
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 $29.58
30 DAY MEDIAN BID-ASK SPREAD 0.000682

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 -2.77% -2.77% 7.06% 7.06% 7.79% 7.79% 15.31% 15.31%
RAA - Market Price -2.70% -2.70% 7.16% 7.16% 7.63% 7.63% 15.21% 15.21%
S&P 500 Index Total Return -0.95% -0.95% 15.20% 15.20% 10.21% 10.21% 20.27% 20.27%
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 07/15/2026

NET ASSET VALUE

$29.58

CLOSING PRICE

$29.58

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 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3
Premium 47 39 35 39 4
Discount 13 16 8 14 3

Asset Allocation

As of 7/15/2026

Equities

40.05%
Nasdaq
15.59%
US Large Cap
10.09%
Dividend Payers
3.73%
Emerging Ex. China
3.71%
US Small Cap
2.93%
Europe
2.00%
Japan
2.00%

Fixed Income

27.33%
High Yield
5.99%
Corporate Bonds
5.94%
Long Term Treasuries
5.86%
Emerging Mkt Bonds
3.95%
TIPS
2.96%
T-Bills
2.63%

Alternatives

32.62%
Commodities
7.53%
Managed Futures
7.05%
Miners
5.93%
Gold
4.02%
Energy
3.81%
Bitcoin
2.21%
Real Estate
2.07%

Holdings

As of 07/15/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 10.09 60119100 BBG00RYR67P4 415474
INVESCO OPTIMUM YIELD DIVERS PDBC 7.53 44876700 N/A 2613670
SCHWAB HIGH YIELD BOND ETF SCYB 5.99 35717400 BBG01F80WX71 1367440
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 5.94 35434900 BBG000PWYVH7 432502
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 5.86 34948700 BBG00PZFJPC3 1141370
iM DBi Managed Futures Strategy ETF DBMF 5.84 34798900 N/A 1122910
SPROTT PHYSICAL GOLD TRUS PHYS 4.02 23973600 BBG000Q83F79 784221
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 3.95 23574300 BBG000NXKWH0 246258
ISHARES MSCI EMR MRK EX CHNA EMXC 3.71 22134400 BBG00H5VLMJ6 232358
SCHWAB U.S. TIPS ETF SCHP 2.96 17649600 BBG000BGN6P5 673390
VANGUARD SMALL-CAP ETF VB 2.93 17448700 BBG000HT3Z79 58748
GRAYSCALE BITCN MINI TRU ETF BTC.UP 2.21 13149000 N/A 457836
Franklin FTSE Europe ETF FLEE 2.00 11916300 BBG00J3PR1S7 306410
Franklin FTSE Japan ETF FLJP 2.00 11916100 BBG00J3MDY16 298276
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 1.99 11856700 BBG01922X0X9 237467
NVIDIA CORP NVDA 1.28 7618340 BBG000BBJQV0 35851
BHP GROUP LTD BHP 1.27 7595580 BBG000BD5NZ4 88858
Simplify DBi CTA Managed Futures Index ETF SDMF 1.21 7212800 BBG020BR8WR7 279936
APPLE INC AAPL 1.19 7076950 BBG000B9XRY4 21609
MICROSOFT CORP MSFT 0.74 4395450 BBG000BPH459 11110
MICRON TECHNOLOGY INC MU 0.71 4220280 BBG000C5Z1S3 4667
AMAZON.COM INC AMZN 0.70 4150750 BBG000BVPV84 16280
NEWMONT GOLDCORP CORPORATION COM NEM 0.69 4105550 BBG000BPWXK1 43121
RIO TINTO PLC-SPON ADR RIO 0.67 3985030 BBG000FD28T3 42566
ADVANCED MICRO DEVICES INC AMD 0.56 3363210 BBG000BBQCY0 6356
CHEVRON CORP CVX 0.55 3296950 BBG000K4ND22 18155
ALPHABET INC-CL A GOOGL 0.54 3222920 BBG009S39JX6 8689
FREEPORT-MCMORAN INC FCX 0.52 3092830 BBG000BJDB15 50727
META PLATFORMS INC META 0.51 3063850 BBG000MM2P62 4497
ALPHABET INC-CL C GOOG 0.51 3017210 BBG009S3NB30 8150
Tesla Inc. TSLA 0.49 2936750 BBG000N9MNX3 7445
GLENCORE PLC -UNSP ADR GLNCY 0.48 2886470 BBG001VKX1Z1 205005
Broadcom Inc. AVGO 0.47 2787560 BBG00KHY5S69 7070
AGNICO EAGLE MINES LTD AEM 0.47 2806340 BBG000DLVDK3 19731
MARATHON PETROLEUM CORP MPC 0.46 2723440 BBG001DCCGR8 9103
SUNCOR ENERGY INC COMMON STOCK CAD 0 SU 0.44 2650450 BBG000BRK7L6 43708
CANADIAN NATURAL RESOURCES CNQ 0.43 2545340 BBG000HW5GX3 59568
OCCIDENTAL PETROLEUM CORP OXY 0.43 2578220 BBG000BQQ2S6 47949
Cheniere Energy Inc LNG 0.42 2487950 BBG000C3HSR0 9725
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.42 2509560 N/A 17366
SCHLUMBERGER LTD SLB 0.41 2423200 BBG000BT41Q8 50961
WILLIAMS COMPANIES INC. WMB 0.39 2333900 BBG000BWVCP8 31378
WAL-MART STORES INC WMT 0.39 2302700 BBG000BWXBC2 20463
EQT CORP EQT 0.37 2177000 BBG000BHZ5J9 44203
Barrick Mining Corp. B 0.37 2211410 N/A 61582
INTEL CORP INTC 0.34 2020560 BBG000C0G1D1 19619
NUCOR CORP NUE 0.33 1946600 BBG000BQ8KV2 8218
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.32 1918980 N/A 79428
CISCO SYSTEMS INC CSCO 0.31 1828330 BBG000C3J3C9 16358
REALTY INCOME CORP O 0.31 1818660 BBG000DHPN63 28749
APPLIED MATERIALS INC AMAT 0.30 1813620 BBG000BBPFB9 3130
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.30 1788790 BBG000PVRDL2 16482
COSTCO WHOLESALE CORP COST 0.29 1709350 BBG000F6H8W8 1865
AUTOMATIC DATA PROCESSING ADP 0.29 1729570 BBG000JG0547 6989
LAM RESH CORP LRCX 0.28 1676480 BBG000BNFLM9 4998
WELLTOWER INC WELL 0.26 1541350 BBG000BKY1G5 6607
VALE SA-SP ADR VALE 0.26 1557320 BBG000BN5LG7 106157
FRANCO-NEVADA CORP FNV 0.25 1507170 BBG000RD3CL8 7441
PROLOGIS INC PLD 0.25 1485110 BBG000B9Z0J8 10355
NETFLIX INC NFLX 0.22 1315700 BBG000CL9VN6 17857
PALO ALTO NETWORKS INC PANW 0.21 1226330 BBG0014GJCT9 3464
T ROWE PRICE GROUP INC TROW 0.21 1225640 BBG000BVMPN3 10336
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.21 1246780 BBG000N7QR55 9321
HORMEL FOODS CORP HRL 0.20 1178680 BBG000BLF8D2 46866
MEDTRONIC PLC MDT 0.20 1206970 BBG000BNWG87 14999
FRANKLIN RESOURCES INC BEN 0.20 1182770 BBG000BD0TF8 35170
CLOROX COMPANY CLX 0.20 1214010 BBG000BFS7D3 12522
ILLINOIS TOOL WORKS ITW 0.20 1200180 BBG000BMBL90 4422
AMCOR PLC COMMON STOCK USD.01 AMCR 0.20 1188380 N/A 27382
KENVUE INC KVUE 0.19 1161720 BBG01C79X561 62124
Kimberly-Clark Corp KMB 0.19 1150420 BBG000BMW2Z0 10799
EQUINIX INC EQIX 0.19 1124860 BBG000MBDGM6 1100
EVERSOURCE ENERGY ES 0.19 1155330 BBG000BQ87N0 15657
KLA CORPORATION KLAC 0.19 1149440 BBG000BMTFR4 5120
STANLEY BLACK & DECKER INC SWK 0.19 1103370 BBG000BTQR96 12544
TEXAS INSTRUMENTS INC TXN 0.18 1101750 BBG000BVV7G1 3658
GENUINE PARTS CO GPC 0.17 1041080 BBG000BKL348 8604
AO Smith Corp AOS 0.16 971353 BBG000BC1L02 16106
PPG INDUSTRIES INC PPG 0.16 948079 BBG000BRJ809 8222
LINDE PLC LIN 0.16 973800 BBG01FND0CC1 1894
SANDISK CORP/DE SNDKV SNDK 0.16 925395 BBG01R388JG1 573
ABBVIE INC ABBV 0.16 954226 BBG0025Y4RY4 3909
Crowdstrike Holdings Inc. Class A CRWD 0.15 890352 BBG00BLYKS03 4306
T-MOBILE US INC TMUS 0.15 868681 BBG000NDV1D4 4630
AMGEN INC AMGN 0.14 808370 BBG000BBS2Y0 2256
J M Smucker Co COM STK NPV SJM 0.14 827462 BBG000BT1715 7590
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.14 827472 BBG0113JGQF0 999
SIMON PROPERTY GROUP INC SPG 0.14 822547 BBG000BJ2D31 3705
PEPSICO INC PEP 0.13 789517 BBG000DH7JK6 5831
WESTERN DIGITAL CORP WDC 0.13 790800 BBG000BWNFZ9 1539
QUALCOMM INC QCOM 0.13 780798 BBG000CGC1X8 4387
International Business Machines Corporation IBM 0.13 770035 BBG000BLNNH6 3646
ANALOG DEVICES INC ADI 0.13 785830 BBG000BB6G37 2010
PUBLIC STORAGE PSA 0.12 695443 BBG000BPPN67 2210
DIGITAL REALTY TRUST INC DLR 0.12 710971 BBG000Q5ZRM7 4038
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.12 694477 BBG00ZXBJ153 3367
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.12 704812 BBG00CMNZNK7 704812
ASML HOLDING NV-NY REG SHS ASML 0.12 711586 BBG000K6MRN4 392
Ventas Inc. VTR 0.11 683131 BBG000FRVHB9 7402
SHOPIFY INC - CLASS A SHOP 0.11 671865 BBG008HBD923 5438
INTUITIVE SURGICAL INC ISRG 0.11 639467 BBG000BJPDZ1 1644
GILEAD SCIENCES INC GILD 0.11 682074 BBG000CKGBP2 5179
ERIE INDEMNITY COMPANY-CL A ERIE 0.10 586220 BBG000BBTJZ1 2789
BOOKING HOLDINGS INC BKNG 0.10 596476 BBG000BLBVN4 3263
IRON MOUNTAIN INC IRM 0.09 558681 BBG000KCZPC3 4523
VERTEX PHARMACEUTICALS INC VRTX 0.09 555798 BBG000C1S2X2 1165
FORTINET INC FTNT 0.09 531861 BBG000BCMBG4 3233
APPLOVIN CORP APP 0.09 558669 BBG006HFPX77 1234
CADENCE DESIGN SYS INC CDNS 0.08 461774 BBG000C13CD9 1243
ARM HOLDINGS PLC ARM 0.08 466762 BBG01J1GXZF0 1685
Marriott International, Inc Class A MAR 0.08 455039 BBG000BGD7W6 1233
EXTRA SPACE STORAGE INC EXR 0.08 463137 BBG000PV27K3 3202
STARBUCKS CORP SBUX 0.08 501270 BBG000CTQBF3 4769
VICI PROPERTIES INC REIT VICI 0.08 463793 BBG00HVVB499 17628
AVALONBAY COMMUNITIES INC AVB 0.08 447562 BBG000BLPBL5 2352
FASTENAL CO FAST 0.07 434277 BBG000BJ8YN7 9574
COMCAST CORP-CLASS A CMCSA 0.07 398249 BBG000BFT2L4 16954
EQUITY RESIDENTIAL EQR 0.07 422120 BBG000BG8M31 6184
CONSTELLATION ENERGY CORPORATION CEG 0.07 433891 BBG014KFRNP7 1681
ADOBE SYSTEMS INC ADBE 0.07 397471 BBG000BB5006 1770
MONSTER BEVERAGE CORP MNST 0.07 444041 BBG008NVB1C0 4551
MERCADOLIBRE INC MELI 0.07 425777 BBG000GQPB11 231
CSX CORP CSX 0.07 440471 BBG000BGJRC8 8911
MONDELEZ INTERNATIONAL INC-A MDLZ 0.06 347975 BBG000D4LWF6 5926
NXP Semiconductors NV NXPI 0.06 330906 BBG000BND699 1186
DOORDASH INC CLASS A DASH 0.06 347612 BBG005D7QCJ3 1828
INTUIT INC INTU 0.06 339836 BBG000BH5DV1 1215
SYNOPSYS INC SNPS 0.06 384449 BBG000BSFRF3 904
CINTAS CORP CTAS 0.06 364541 BBG000H3YXF8 1895
Datadog Inc. Class A DDOG 0.06 375269 BBG003NJHZT9 1419
AMERICAN ELECTRIC POWER AEP 0.06 342115 BBG000BB9KF2 2582
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 322672 BBG022XF4SZ9 1448
PACCAR INC PCAR 0.05 302333 BBG000BQVTF5 2455
Warner Bros Discovery Inc WBD 0.05 318486 BBG011386VF4 11679
MONOLITHIC POWER SYSTEMS INC MPWR 0.05 302996 BBG000C30L48 224
ESSEX PROPERTY TRUST INC ESS 0.05 298646 BBG000CGJMB9 1020
ROSS STORES INC ROST 0.05 322231 BBG000BSBZH7 1427
AIRBNB INC ABNB 0.05 285186 BBG001Y2XS07 1922
REGENERON PHARMACEUTICALS REGN 0.05 311627 BBG000C734W3 469
INVITATION HOMES INC REIT USD.01 INVH 0.05 312186 BBG00FQH6BS9 10469
OREILLY AUTOMOTIVE INC ORLY 0.05 326453 BBG000BGYWY6 3946
XCEL ENERGY INC XEL 0.04 228636 BBG000BCTQ65 2885
PAYPAL HOLDINGS INC PYPL 0.04 237681 BBG0077VNXV6 4281
MICROCHIP TECHNOLOGY INC MCHP 0.04 217806 BBG000BHCP19 2525
Sun Communities Inc SUI 0.04 238201 BBG000BLJWF3 2012
HOST HOTELS & RESORTS INC HST 0.04 254684 BBG000BL8804 10701
ASTERA LABS INC ALAB 0.04 224747 BBG00TDKHW99 641
Baker Hughes Company BKR 0.04 261976 BBG00GBVBK51 4576
Old Dominion Freight Line Inc. ODFL 0.04 212842 BBG000CHSS88 945
TERADYNE INC TER 0.04 216220 BBG000BV4DR6 632
EXELON CORP EXC 0.04 224446 BBG000J6XT05 4907
MID-AMERICA APARTMENT COMM MAA 0.04 225063 BBG000BLMY92 1708
KIMCO REALTY CORP KIM 0.04 232258 BBG000CN3S73 9257
FERROVIAL SE FER 0.04 214710 BBG01H7CZ9S9 3347
MCDONALDS CORP MCD 0.04 232361 BBG000BNSZP1 877
DIAMONDBACK ENERGY INC FANG 0.04 248586 BBG002PHSYX9 1310
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 254219 BBG00LBLDDR2 2965
W. P. CAREY REIT INC WPC 0.04 240093 BBG000BCQM58 3330
LUMENTUM HOLDINGS INC LITE 0.04 249664 BBG0073F9RT7 332
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 225489 BBG00B6BFWH9 2158
ELECTRONIC ARTS INC EA 0.04 234008 BBG000BP0KQ8 1129
PAYCHEX INC PAYX 0.03 173580 BBG000BQSQ38 1578
ROPER TECHNOLOGIES INC ROP 0.03 161709 BBG000F1ZSN5 464
AXON ENTERPRISE INC AXON 0.03 196427 BBG000BHJWG1 363
AIR PRODUCTS & CHEMICALS INC APD 0.03 190605 BBG000BC4JJ4 649
IDEXX LABS IDXX 0.03 202198 BBG000BLRT07 363
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 207718 BBG000BS1YV5 852
KEURIG DR PEPPER INC KDP 0.03 193762 BBG000TJM7F0 6399
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.03 192198 BBG000B9ZXB4 2153
ALNYLAM PHARMACEUTICALS INC ALNY 0.03 173346 BBG000BFGNJ5 621
Nebius Group NV NBIS 0.03 166391 BBG001NVJ6W4 834
AUTODESK INC ADSK 0.03 207308 BBG000BM7HL0 992
CONSOLIDATED EDISON INC ED 0.03 193153 BBG000BHLYS1 1751
ROCKET LAB CORP RKLB 0.03 179299 BBG01V7JN3F3 2353
THOMSON REUTERS CORP TRI 0.03 184239 N/A 1929
KRAFT HEINZ CO/THE KHC 0.02 142749 BBG005CPNTQ2 5609
WORKDAY INC-CLASS A WDAY 0.02 122249 BBG000VC0T95 862
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.02 136449 BBG01BFR8YV1 2159
COPART INC CPRT 0.02 122460 BBG000BM9RH1 4489
DEXCOM INC DXCM 0.02 122623 BBG000QTF8K1 1686
MICROSTRATEGY INC-CL A MSTR 0.02 133924 BBG000GQJPZ0 1374
COGNIZANT TECH SOLUTIONS-A CTSH 0.00 86.36 BBG000BBDV81 2
Zscaler Inc. ZS 0.00 148.19 BBG003338H34 1
INSMED INC INSM 0.00 109.81 BBG000BWM5P3 1
HONEYWELL AEROSPACE INC HONAV HONAV 0.00 212.55 BBG020QYV152 1
Cash & Other Cash&Other -0.12 -701010 N/A -701010

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.