Brinsmere Fund Conservative ETF
TBFC
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- The Brinsmere Fund - Conservative ETF (TBFC) is an actively managed exchange-traded fund-of-funds that seeks long-term capital appreciation consistent with capital preservation by investing in a globally diversified portfolio of low-cost, index-tracking equity and fixed income exchange-traded funds (ETFs). The fund employs two proprietary, rules-based tactical asset allocation strategies developed by its investment adviser, The Milwaukee Company—the Systematic Market Beta Strategy (SMB), which reduces risk and enhances performance based on market risk assessments, and the Classic Asset Allocation Revisited Strategy (CAAR) in a conservative model with a 20% equity floor and 40% equity cap, using mean-variance optimization for adaptation to market conditions; these strategies systematically rebalance holdings monthly across diversified sectors, growth and value stocks of varying market capitalizations, U.S. Treasuries, government bonds, corporate bonds, short-term bonds, intermediate-term bonds, international equities, S&P 500 exposure, and other fixed income securities with varying maturities and credit qualities. Top holdings as of recent data include Vanguard Short-Term Government Bond ETF (VGSH), Vanguard Short-Term Bond ETF (BSV), Vanguard Total International Stock ETF (VXUS), SPDR Portfolio S&P 500 ETF (SPYM), and Vanguard Intermediate-Term Corporate Bond ETF (VCIT), among others comprising approximately 25 holdings. Launched on January 12, 2024, and commencing trading on the NYSE Arca on January 16, 2024, alongside its counterpart The Brinsmere Fund - Growth ETF (TBFG), TBFC operates within the tactical asset allocation category with a total expense ratio of 0.41%, a quarterly dividend yield of approximately 3.17%, and assets under management exceeding $398 million as of late 2025. The ETF is issued by ETF Series Solutions, co-managed by Estate Counselors, LLC and Penserra Capital Management LLC, and distributed by Quasar Distributors, LLC, with advisory services provided by The Milwaukee Company, an independent registered investment adviser founded in 2010 and headquartered in Thiensville, Wisconsin, which manages around $1 billion in client assets focused on high-net-worth individuals, trusts, and organizations. No significant acquisitions, partnerships, funding rounds, or major strategic shifts have been reported in the last 1-2 years beyond the initial launch, which represented a key expansion of The Milwaukee Company's evidence-based, academically grounded strategies from private client portfolios to a publicly accessible, tax-efficient ETF structure. The fund targets conservative investors seeking multi-asset class exposure with systematic risk management across global equity and bond markets.