ETF Evaluator:
SMI 3Fourteen REAL Asset Allocation ETF ()
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(as of Aug 26)
Best Performing in Moderate Allocation Over the Last Year
| 29.1% | Adaptive Core ETF (RULE) |
| 21.3% | Monarch Volume Factor Dividend Tree ETF (MVFD) |
| 19.5% | Avantis Moderate Allocation ETF (AVMA) |
| 19.4% | Ned Davis Research 360 Dyn Allc ETF (NDAA) |
| 16.0% | SMI 3Fourteen REAL Asset Allocation ETF (RAA) |
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Risk
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ETF Details
SMI 3Fourteen REAL Asset Allocation ETF Overview
SMI 3Fourteen REAL Asset Allocation ETF (RAA) is an actively managed Allocation Moderate Allocation exchange-traded fund (ETF). 3fourteensmi launched the ETF in 2025.
The investment seeks total return.
The fund is actively managed and allocates its portfolio assets among three asset categories – stocks, bonds, and alternatives. Portfolio assets are chosen using the REAL Asset Allocation (“RAA”) strategy developed by an affiliate of the Adviser, 3Fourteen Research, LLC. The RAA strategy is based on a proprietary model that dynamically allocates the portfolio into three broad categories of asset classes: Stocks, Bonds, and Alternatives. The fund is non-diversified.
About SMI 3Fourteen REAL Asset Allocation ETF (RAA)
There are 5 members of the management team with an average tenure of 1.43 years: Mark Biller (2025), Eric Collier (2025), Anthony Ayers (2025), Warren Pies (2025) and Fernando Vidal (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
SMI 3Fourteen REAL Asset Allocation ETF has 186 securities in its portfolio. The top 10 holdings constitute 55.9% 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 REAL Asset Allocation ETF is part of the Allocation global asset class and is within the Allocation ETF group. SMI 3Fourteen REAL Asset Allocation ETF has 20.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 40.4% There is 14.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 17.2% (11.7% domestic bond, 5.5% foreign bond and 0.0% convertible bond). SMI 3Fourteen REAL Asset Allocation ETF has 12.9% of the portfolio in cash.
Assets Under Management
The fund has $607 million in total assets, which is above the $411 million average for the Moderate Allocation 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.
RAA 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 REAL Asset Allocation ETF expense ratio is high compared to funds in the Moderate Allocation category. SMI 3Fourteen REAL Asset Allocation ETF has an expense ratio of 0.90%, which is 5% lower than its category average, making the fund expense ratio grade a B. 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 REAL Asset Allocation ETF has a portfolio turnover rate of 162%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Moderate Allocation category.
Recently, in the month of July 2026, SMI 3Fourteen REAL Asset Allocation ETF returned -0.2%, which earned it a grade of C, as the Moderate Allocation category had an average return of -1.0%. 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 REAL Asset Allocation ETF has a trailing yield of 2.13%, which is below the 2.36% category average.
The fund normally distributes its income quarterly 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 REAL Asset Allocation ETF Grades
Year to date, the ETF has returned 7.6%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 16.0% over the past year (grade of B).
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RAA 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 |
|
| RAA Return (NAV) | -0.2% | 0.2% | 16.0% | na | na | na |
| RAA Return (Price) | -0.2% | 0.2% | 16.2% | na | na | na |
| NAV +/- Price Return | 0.015% | 0.013% | -0.159% | na | na | na |
| Moderate Allocation Avg | -1.0% | 1.5% | 13.8% | 10.7% | 4.9% | na |
| RAA Grade (NAV) | C | F | B | na | na | na |
| +/- Category (NAV) | 0.8% | -1.4% | 2.2% | na | na | na |
| RAA Tax-Cost Ratio | na | na | 0.9% | na | na | na |
RAA Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RAA Return (NAV) | 7.6% | na | na | na | na | na | na | na | na | na | na |
| RAA Return (Price) | 7.6% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.003% | na | na | na | na | na | na | na | na | na | na |
| Moderate Allocation Avg | 7.4% | 10.4% | 12.0% | 10.2% | -14.7% | 13.8% | 11.5% | 18.3% | -7.5% | na | na |
| RAA Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.3% | na | 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: | 2.1% |
| Total Assets: | $ 607 Mil |
| Share Class Assets: | $ 607 Mil |
| Turnover: | 162.1% |
| Expense Ratio: | 0.90% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Biller Mark (2025), Collier Eric (2025), Ayers Anthony (2025), Pies Warren (2025), Vidal Fernando (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 186 |
| % in Top 10 Holdings: | 55.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 20.4% |
Portfolio Allocation |
|
| Domestic Stock: | 40.4% |
| Foreign Stock: | 14.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 11.7% |
| Foreign Bond: | 5.5% |
| Convertible Bond: | 0.0% |
| Other: | 14.6% |
| Cash: | 12.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | 3fourteensmi |
| Phone Number: | 844-328-3383 |
| Website: | |
| Inception Date: | February 25, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.90% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
