ETF Evaluator:
SMI 3Fourteen Full-Cycle Trend ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Blend Over the Last Year
| 62.5% | ARS Focused Opportunities Strategy ETF (AFOS) |
| 35.7% | Mohr Company Nav ETF (CNAV) |
| 33.9% | Impact Shares NAACP Minority Empwrmt ETF (NACP) |
| 31.8% | Astoria US Equal Weight Quality KingsETF (ROE) |
| 30.5% | FIS Bright Portfolios Focused Equity ETF (BRIF) |
Risk
Index
Risk
Index
ETF Details
SMI 3Fourteen Full-Cycle Trend ETF Overview
SMI 3Fourteen Full-Cycle Trend ETF (FCTE) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). 3fourteensmi launched the ETF in 2024.
The investment seeks long-term capital appreciation.
The fund is actively managed and typically owns 20 domestic stocks that are normally included in the S&P 500 Index (“S&P 500”). The FCT strategy is based on a proprietary model developed by 3Fourteen that selects stocks based on quality stock screens and trend factors such as return on capital and cash flow stability, earnings growth, return on investment, momentum, linear regression and trend analysis. The fund is non-diversified.
About SMI 3Fourteen Full-Cycle Trend ETF (FCTE)
There are 5 members of the management team with an average tenure of 2.08 years: Mark Biller (2024), Eric Collier (2024), Anthony Ayers (2024), Warren Pies (2024) and Fernando Vidal (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. SMI 3Fourteen Full-Cycle Trend ETF has 20 securities in its portfolio. The top 10 holdings constitute 54.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
SMI 3Fourteen Full-Cycle Trend ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. SMI 3Fourteen Full-Cycle Trend ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). SMI 3Fourteen Full-Cycle Trend ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $259 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FCTE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The SMI 3Fourteen Full-Cycle Trend ETF expense ratio is high compared to funds in the Large Blend category. SMI 3Fourteen Full-Cycle Trend ETF has an expense ratio of 0.85%, which is 105% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. SMI 3Fourteen Full-Cycle Trend ETF has a portfolio turnover rate of 354%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, SMI 3Fourteen Full-Cycle Trend ETF returned -0.4%, which earned it a grade of D, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
SMI 3Fourteen Full-Cycle Trend ETF has a trailing yield of 0.08%, which is below the 1.16% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
SMI 3Fourteen Full-Cycle Trend ETF Grades
Year to date, the ETF has returned 16.6%, 7.1 percentage points better than the category, which translates into a grade of A. The fund has returned 12.3% over the past year (grade of F).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about SMI 3Fourteen Full-Cycle Trend ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
FCTE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FCTE Return (NAV) | -0.4% | 7.3% | 12.3% | na | na | na |
| FCTE Return (Price) | -0.4% | 7.3% | 12.5% | na | na | na |
| NAV +/- Price Return | -0.043% | -0.038% | -0.167% | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| FCTE Grade (NAV) | D | A | F | na | na | na |
| +/- Category (NAV) | 0.4% | 3.6% | -5.3% | na | na | na |
| FCTE Tax-Cost Ratio | na | na | 0.0% | na | na | na |
FCTE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FCTE Return (NAV) | 16.6% | -3.8% | na | na | na | na | na | na | na | na | na |
| FCTE Return (Price) | 16.9% | -3.8% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.014% | 0.011% | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| FCTE Grade (NAV) | A | F | na | na | na | na | na | na | na | na | na |
| +/- Category | 7.1% | -19.1% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.1% |
| Total Assets: | $ 259 Mil |
| Share Class Assets: | $ 259 Mil |
| Turnover: | 354.1% |
| Expense Ratio: | 0.85% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.1 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Biller Mark (2024), Collier Eric (2024), Ayers Anthony (2024), Pies Warren (2024), Vidal Fernando (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 20 |
| % in Top 10 Holdings: | 54.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | 3fourteensmi |
| Phone Number: | 844-328-3383 |
| Website: | |
| Inception Date: | July 1, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.85% (Rating: High) |
| Category Average Expense Ratio (%): | 0.41% |
