FCTE – SMI 3Fourteen Full-Cycle Trend ETF – ETF Investment Strategy | Morningstar

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Strategy

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.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FCTE	SMI 3Fourteen Full-Cycle Trend ETF	ETF	Open	—		Jul 1, 2024	$239.01M	0.850%	—	—	−$175.39M

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