RAA

SMI 3FOURTEEN REAL ASSET ALLOCATION ETF

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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 10/22/2026
TICKER RAA
NET ASSETS $610M
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 $30.02
30 DAY MEDIAN BID-ASK SPREAD 0.000665

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 12.16% NA NA 13.76%
RAA - Market Price 12.20% NA NA 13.81%
S&P 500 Index Total Return 15.74% NA NA 18.46%
1 MO 3 MO YTD Since Inception
RAA - NAV -1.90% -1.90% 1.45% 1.45% 9.35% 9.35% 13.76% 13.76%
RAA - Market Price -1.90% -1.90% 1.43% 1.43% 9.37% 9.37% 13.81% 13.81%
S&P 500 Index Total Return -0.35% -0.35% 2.30% 2.30% 12.75% 12.75% 18.46% 18.46%
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 10/22/2026

NET ASSET VALUE

$30.02

CLOSING PRICE

$30.01

PREMIUM/DISCOUNT

0.04%
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 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4
Premium 39 35 39 32 4
Discount 16 8 14 21 9

Asset Allocation

As of 10/22/2026

Equities

41.01%
Nasdaq
17.07%
US Large Cap
14.98%
US Small Cap
3.02%
Dividend Payers
2.15%
Emerging Ex. China
1.83%
Europe
1.00%
Japan
0.96%

Fixed Income

29.57%
Long Term Treasuries
8.36%
Corporate Bonds
6.09%
High Yield
5.99%
Emerging Mkt Bonds
4.04%
TIPS
3.05%
T-Bills
2.04%

Alternatives

29.42%
Commodities
10.33%
Energy
5.46%
Managed Futures
4.98%
Miners
3.72%
Real Estate
2.03%
Gold
1.94%
Bitcoin
0.96%

Holdings

As of 10/22/2026
Description Ticker Weight (%)** Market Value ($) FIGI Shares Held
BNY MELLON US LARGE CAP CORE E BNY MELLON US LARGE CAP CORE BKLC 14.98 91415600 BBG00RYR67P4 1874040
INVESCO OPTIMUM YIELD DIVERS PDBC 10.33 63051200 N/A 3149410
SCHWAB LONG TERM U.S. TREASURY SCHWAB LONG TERM US TREASURY SCHQ 8.36 51021500 BBG00PZFJPC3 1715580
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 6.09 37162200 BBG000PWYVH7 467625
SCHWAB HIGH YIELD BOND ETF SCYB 5.99 36555300 BBG01F80WX71 1453490
ISHARES JPMORGAN USD EMERGING MARKETS BOND ETF EMB 4.04 24659300 BBG000NXKWH0 268474
iM DBi Managed Futures Strategy ETF DBMF 3.50 21357500 N/A 657965
SCHWAB U.S. TIPS ETF SCHP 3.05 18626600 BBG000BGN6P5 726467
Vanguard Morningstar Small-Cap ETF VB 3.02 18420900 BBG000HT3Z79 63813
US TREASURY 3 MONTH BILL ETF US TREASURY 3 MONTH BILL ETF TBIL 2.00 12198400 BBG01922X0X9 244114
SPROTT PHYSICAL GOLD TRUS PHYS 1.94 11813000 BBG000Q83F79 388713
ISHARES MSCI EMR MRK EX CHNA EMXC 1.83 11192500 BBG00H5VLMJ6 122779
Simplify DBi CTA Managed Futures Index ETF SDMF 1.48 9019060 BBG020BR8WR7 334053
NVIDIA CORP NVDA 1.38 8405430 BBG000BBJQV0 39609
APPLE INC AAPL 1.35 8261170 BBG000B9XRY4 23724
MICROSOFT CORP MSFT 1.04 6328520 BBG000BPH459 12145
Franklin FTSE Europe ETF FLEE 1.00 6077770 BBG00J3PR1S7 160627
Franklin FTSE Japan ETF FLJP 0.96 5883860 BBG00J3MDY16 146074
GRAYSCALE BITCN MINI TRU ETF BTC.UP 0.96 5881380 N/A 163508
BHP GROUP LTD BHP 0.77 4724390 BBG000BD5NZ4 60897
MICRON TECHNOLOGY INC MU 0.73 4424630 BBG000C5Z1S3 5166
AMAZON.COM INC AMZN 0.72 4423210 BBG000BVPV84 17666
CHEVRON CORP CVX 0.62 3777620 BBG000K4ND22 16665
ADVANCED MICRO DEVICES INC AMD 0.62 3779510 BBG000BBQCY0 7441
OCCIDENTAL PETROLEUM CORP OXY 0.57 3448940 BBG000BQQ2S6 55183
MARATHON PETROLEUM CORP MPC 0.57 3505220 BBG001DCCGR8 7632
CANADIAN NATURAL RESOURCES CNQ 0.56 3435510 BBG000HW5GX3 63715
EQT CORP EQT 0.56 3394840 BBG000BHZ5J9 62097
Suncor Energy Inc. SU 0.56 3431970 BBG000BC1LY5 44335
EXXONMOBIL HOLDINGS CORP COMMON STOCK USD XOM 0.54 3318640 BBG023CY9MM1 18620
Tesla Inc. TSLA 0.53 3254350 BBG000N9MNX3 8688
Cheniere Energy Inc LNG 0.53 3264160 BBG000C3HSR0 11373
META PLATFORMS INC META 0.53 3233870 BBG000MM2P62 4984
WILLIAMS COMPANIES INC. WMB 0.52 3174470 BBG000BWVCP8 44945
SCHLUMBERGER LTD SLB 0.50 3069130 BBG000BT41Q8 61940
ALPHABET INC-CL A GOOGL 0.50 3076520 BBG009S39JX6 9489
NEWMONT GOLDCORP CORPORATION COM NEM 0.47 2871240 BBG000BPWXK1 25162
ALPHABET INC-CL C GOOG 0.47 2866310 BBG009S3NB30 8936
WAL-MART STORES INC WMT 0.46 2791820 BBG000BWXBC2 23050
SPACE EXPLORATION TECH CORP A SPCX 0.46 2832760 BBG000NQF3Z5 19570
Broadcom Inc. AVGO 0.43 2633760 BBG00KHY5S69 8148
COSTCO WHOLESALE CORP COST 0.35 2155550 BBG000F6H8W8 2117
FREEPORT-MCMORAN INC FCX 0.35 2151040 BBG000BJDB15 33303
RIO TINTO PLC-SPON ADR RIO 0.34 2096770 BBG000FD28T3 24920
AGNICO EAGLE MINES LTD AEM 0.34 2091960 BBG000DLVDK3 11876
INTEL CORP INTC 0.33 1987130 BBG000C0G1D1 23244
PALANTIR TECHNOLOGIES INC. CLASS A PLTR 0.33 2039200 BBG000N7QR55 10394
CISCO SYSTEMS INC CSCO 0.31 1874490 BBG000C3J3C9 17871
WELLTOWER INC WELL 0.28 1734920 BBG000BKY1G5 7308
GLENCORE PLC -UNSP ADR GLNCY 0.25 1548180 BBG001VKX1Z1 107812
Barrick Mining Corp. B 0.25 1502210 N/A 38867
APPLIED MATERIALS INC AMAT 0.23 1380260 BBG000BBPFB9 3675
NUCOR CORP NUE 0.22 1321010 BBG000BQ8KV2 5119
LAM RESH CORP LRCX 0.22 1316230 BBG000BNFLM9 5719
PROLOGIS INC PLD 0.22 1314980 BBG000B9Z0J8 10382
WHEATON PRECIOUS METALS CORP COMMON STOCK WPM 0.21 1285580 BBG000PVRDL2 10407
REALTY INCOME CORP O 0.21 1274150 BBG000DHPN63 22330
NETFLIX INC NFLX 0.21 1286960 BBG000CL9VN6 19194
PEPSICO INC PEP 0.21 1265020 BBG000DH7JK6 9112
PALO ALTO NETWORKS INC PANW 0.21 1280550 BBG0014GJCT9 3608
AUTOMATIC DATA PROCESSING ADP 0.21 1275800 BBG000JG0547 4143
TEXAS INSTRUMENTS INC TXN 0.20 1209120 BBG000BVV7G1 4326
ANGLO AMERICAN PLC SPONS ADR ADR NGL 0.20 1203670 N/A 49862
AMGEN INC AMGN 0.19 1153980 BBG000BBS2Y0 2580
EQUINIX INC EQIX 0.18 1087890 BBG000MBDGM6 1142
LINDE PLC LIN 0.18 1123300 BBG01FND0CC1 2201
Crowdstrike Holdings Inc. Class A CRWD 0.18 1096670 BBG00BLYKS03 4609
FRANCO-NEVADA CORP FNV 0.17 1013810 BBG000TRN6Z1 4371
VALE SA-SP ADR VALE 0.15 888343 BBG000BN5LG7 72815
GILEAD SCIENCES INC GILD 0.15 930250 BBG000CKGBP2 5918
KLA CORPORATION KLAC 0.15 928668 BBG000BMTFR4 6282
SHOPIFY INC - CLASS A SHOP 0.15 920014 BBG004DW5NB8 5450
MARVELL TECHNOLOGY GROUP LTD MRVL MRVL 0.15 893210 BBG00ZXBJ153 3997
ANALOG DEVICES INC ADI 0.15 889177 BBG000BB6G37 2305
QUALCOMM INC QCOM 0.14 839262 BBG000CGC1X8 4856
T-MOBILE US INC TMUS 0.14 828566 BBG000NDV1D4 5218
SIMON PROPERTY GROUP INC SPG 0.14 872969 BBG000BJ2D31 4117
PUBLIC STORAGE PSA 0.13 807757 BBG000BPPN67 2613
DIGITAL REALTY TRUST INC DLR 0.13 782905 BBG000Q5ZRM7 4580
SANDISK CORP/DE SNDKV SNDK 0.13 814561 BBG01R388JG1 646
INTUITIVE SURGICAL INC ISRG 0.12 751438 BBG000BJPDZ1 1693
Ventas Inc. VTR 0.12 741677 BBG000FRVHB9 8526
Vivmark Residential VMRK 0.12 754957 BBG000BG8M31 11876
KENVUE INC KVUE 0.11 678306 BBG01C79X561 34120
AO Smith Corp AOS 0.11 660870 BBG000BC1L02 10579
Kimberly-Clark Corp KMB 0.11 693770 BBG000BMW2Z0 6177
HORMEL FOODS CORP HRL 0.11 657504 BBG000BLF8D2 30782
MEDTRONIC PLC MDT 0.11 675068 BBG000BNWG87 6989
STANLEY BLACK & DECKER INC SWK 0.11 670819 BBG000BTQR96 6778
CLOROX COMPANY CLX 0.11 665482 BBG000BFS7D3 7506
SEAGATE TECHNOLOGY-ORDINARY SHARES STX 0.11 685806 BBG0113JGQF0 1068
International Business Machines Corporation IBM 0.11 659772 BBG000BLNNH6 2617
VERTEX PHARMACEUTICALS INC VRTX 0.11 644345 BBG000C1S2X2 1204
ABBVIE INC ABBV 0.11 668485 BBG0025Y4RY4 2344
ASML HOLDING NV-NY REG SHS ASML 0.11 647624 BBG000K6MRN4 415
AMCOR PLC COMMON STOCK USD.01 AMCR 0.11 668792 N/A 14451
GENUINE PARTS CO GPC 0.10 588278 BBG000BKL348 4597
WESTERN DIGITAL CORP WDC 0.10 597873 BBG000BWNFZ9 1688
FRANKLIN RESOURCES INC BEN 0.10 597083 BBG000BD0TF8 18943
T ROWE PRICE GROUP INC TROW 0.10 603838 BBG000BVMPN3 5837
FORTINET INC FTNT 0.10 593321 BBG000BCMBG4 3430
IRON MOUNTAIN INC IRM 0.09 548210 BBG000KCZPC3 4954
PPG INDUSTRIES INC PPG 0.09 543284 BBG000BRJ809 4804
EVERSOURCE ENERGY ES 0.09 538378 BBG000BQ87N0 7936
BOOKING HOLDINGS INC BKNG 0.09 554023 BBG000BLBVN4 3439
ILLINOIS TOOL WORKS ITW 0.09 551778 BBG000BMBL90 1976
STARBUCKS CORP SBUX 0.09 562238 BBG000CTQBF3 5517
Marriott International, Inc Class A MAR 0.08 509094 BBG000BGD7W6 1283
EXTRA SPACE STORAGE INC EXR 0.08 495724 BBG000PV27K3 3462
INTUIT INC INTU 0.08 460660 BBG000BH5DV1 1298
ADOBE SYSTEMS INC ADBE 0.08 514586 BBG000BB5006 1902
CSX CORP CSX 0.08 466580 BBG000BGJRC8 9030
ERIE INDEMNITY COMPANY-CL A ERIE 0.07 410110 BBG000BBTJZ1 1597
ARM HOLDINGS PLC ARM 0.07 423982 BBG01J1GXZF0 2018
CONSTELLATION ENERGY CORPORATION CEG 0.07 440237 BBG014KFRNP7 1725
MERCADOLIBRE INC MELI 0.07 432514 BBG000GQPB11 237
MONSTER BEVERAGE CORP MNST 0.07 451952 BBG008NVB1C0 9555
VICI PROPERTIES INC REIT VICI 0.07 430943 BBG00HVVB499 17941
CINTAS CORP CTAS 0.07 433069 BBG000H3YXF8 1933
Datadog Inc. Class A DDOG 0.07 406472 BBG003NJHZT9 1577
MONDELEZ INTERNATIONAL INC-A MDLZ 0.07 402027 BBG000D4LWF6 6167
CADENCE DESIGN SYS INC CDNS 0.06 386134 BBG000C13CD9 1247
COMCAST CORP-CLASS A CMCSA 0.06 394561 BBG000BFT2L4 17275
ROSS STORES INC ROST 0.06 361158 BBG000BSBZH7 1526
AIRBNB INC ABNB 0.06 361890 BBG001Y2XS07 2059
REGENERON PHARMACEUTICALS REGN 0.06 388249 BBG000C734W3 474
DOORDASH INC CLASS A DASH 0.06 365372 BBG005D7QCJ3 1965
APPLOVIN CORP APP 0.06 390342 BBG006HFPX77 1477
SYNOPSYS INC SNPS 0.06 386569 BBG000BSFRF3 915
OREILLY AUTOMOTIVE INC ORLY 0.06 361744 BBG000BGYWY6 3932
AMERICAN ELECTRIC POWER AEP 0.06 343191 BBG000BB9KF2 2627
FASTENAL CO FAST 0.05 291650 BBG000BJ8YN7 5531
HOST HOTELS & RESORTS INC HST 0.05 285682 BBG000BL8804 11487
ESSEX PROPERTY TRUST INC ESS 0.05 298267 BBG000CGJMB9 1056
NXP Semiconductors NV NXPI 0.05 284397 BBG000BND699 1196
PACCAR INC PCAR 0.05 280222 BBG000BQVTF5 2557
FIRST AMERICAN GOVERNMENT OBLI FIRST AM GOV OBLIG X FGXXX 0.05 283130 BBG00CMNZNK7 283130
HONEYWELL INTERNATIONAL INC HONIV HONIV 0.05 332923 BBG022XF4SZ9 1525
LUMENTUM HOLDINGS INC LITE 0.05 317572 BBG0073F9RT7 422
XCEL ENERGY INC XEL 0.04 237884 BBG000BCTQ65 3015
PAYPAL HOLDINGS INC PYPL 0.04 244984 BBG0077VNXV6 4258
Omega Healthcare Investors Inc OHI 0.04 230574 BBG000BGBTC2 4980
MONOLITHIC POWER SYSTEMS INC MPWR 0.04 253441 BBG000C30L48 217
Baker Hughes Company BKR 0.04 246384 BBG00GBVBK51 4595
TERADYNE INC TER 0.04 226622 BBG000BV4DR6 734
HEALTHPEAK PROPERTIES INC DOC 0.04 223590 BBG000BKYDP9 11561
EXELON CORP EXC 0.04 220752 BBG000J6XT05 4922
MID-AMERICA APARTMENT COMM MAA 0.04 231192 BBG000BLMY92 1908
KEURIG DR PEPPER INC KDP 0.04 231902 BBG000TJM7F0 6590
KIMCO REALTY CORP KIM 0.04 258310 BBG000CN3S73 10950
INVITATION HOMES INC REIT USD.01 INVH 0.04 272630 BBG00FQH6BS9 9903
DIAMONDBACK ENERGY INC FANG 0.04 260225 BBG002PHSYX9 1320
AUTODESK INC ADSK 0.04 257500 BBG000BM7HL0 1010
PDD HOLDINGS INC ADR USD 0.00002 PDD 0.04 255561 BBG00LBLDDR2 3228
THOMSON REUTERS CORP TRI 0.04 225566 N/A 1830
MICROSTRATEGY INC-CL A MSTR 0.04 221324 BBG000GQJPZ0 1518
W. P. CAREY REIT INC WPC 0.04 241638 BBG000BCQM58 3744
COCA-COLA EUROPEAN PARTNERS PLC COMMON STOCK CCEP 0.04 244795 BBG00B6BFWH9 2143
HONEYWELL AEROSPACE INC HONAV HONAV 0.04 246975 BBG020QYV152 1515
MICROCHIP TECHNOLOGY INC MCHP 0.03 194721 BBG000BHCP19 2613
ROPER TECHNOLOGIES INC ROP 0.03 195867 BBG000F1ZSN5 449
AXON ENTERPRISE INC AXON 0.03 161694 BBG000BHJWG1 390
ASTERA LABS INC ALAB 0.03 193881 BBG00TDKHW99 752
Old Dominion Freight Line Inc. ODFL 0.03 187611 BBG000CHSS88 988
IDEXX LABS IDXX 0.03 205167 BBG000BLRT07 362
TAKE-TWO INTERACTIVE SOFTWRE TTWO 0.03 197212 BBG000BS1YV5 949
FERROVIAL SA FER 0.03 172339 BBG01H0DF657 3466.88
GE HEALTHCARE TECHNOLOG-W/I GEHC 0.03 155466 BBG01BFR8YV1 2178
WORKDAY INC-CLASS A WDAY 0.03 207260 BBG000VC0T95 987
Nebius Group NV NBIS 0.03 170312 BBG001NVJ6W4 1070
PAYCHEX INC PAYX 0.03 204116 BBG000BQSQ38 1718
AIR PRODUCTS & CHEMICALS INC APD 0.02 132843 BBG000BC4JJ4 431
ABBOTT LABORATORIES COMMON STOCK USD 0 ABT 0.02 136953 BBG000B9ZXB4 1336
ALNYLAM PHARMACEUTICALS INC ALNY 0.02 138641 BBG000BFGNJ5 610
COREWEAVE INC CRWV 0.02 118762 BBG011ZTRJ21 2136
COPART INC CPRT 0.02 127938 BBG000BM9RH1 4398
DEXCOM INC DXCM 0.02 145284 BBG000QTF8K1 1855
CONSOLIDATED EDISON INC ED 0.02 136606 BBG000BHLYS1 1175
MCDONALDS CORP MCD 0.02 131368 BBG000BNSZP1 520
ROCKET LAB CORP RKLB 0.02 143006 BBG01V7JN3F3 2792
Cash & Other Cash&Other -0.04 -262694 N/A -262694

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.