What this ETF is trying to do

TBFC is the ticker symbol for THE BRINSMERE FUND - CONSERVATIVE ETF. This ETF is designed with a conservative strategy. Based on its holdings, it invests in a mix of different assets, including various bond funds (like Treasury and corporate bonds) and some stock funds. Its goal is to provide a balance of income and stability.

What the numbers show

As of October 9, 2026, the current price of TBFC is $28.91. An estimated price from roughly one year ago was $28.10.

When looking at how the fund has performed, it is important to look at two different numbers:

• Price Return: This only measures how much the share price changed. Over the last year, the one-year price return was approximately 2.89%. The year-to-date (YTD) price return is approximately 2.64%.

• Total Return: This measures the share price change *plus* the cash distributions paid to investors. The one-year total return was approximately 6.21%, and the YTD total return was approximately 4.31%.

Because the total return is higher than the price return, it shows that the cash payments (distributions) added extra value to the investment over the last year.

Top Holdings

The following are some of the largest holdings in the portfolio (note that this is a partial list):

• Vanguard Intmdt-Term Trs ETF: 14.65%

• Vanguard Interm-Term Corp Bd ETF: 9.56%

• Xtrackers USD High Yield Corp Bd ETF: 9.43%

• State Street SPDR Port S&P 500 ETF: 7.92%

• iShares 0-1 Year Treasury Bond ETF: 7.54%

Income and distribution explanation

TBFC provides regular cash payments to investors, known as distributions. The distribution yield is approximately 3.14%. In the last 12 months, the trailing distributions were $0.91 per share. These payments usually happen every three months (quarterly), and there were 4 payments made in the last year.

NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, we can look at price-based evidence. The ETF has an erosion-risk score of 94, which is labeled as "Stable / sideways" with a "good" severity level. There is no severe erosion-risk flag for this fund.

Pros

• The fund has shown positive returns in both price and total return over the last year.

• The erosion-risk score suggests the price has been relatively stable.

• It provides regular quarterly income.

Cons

• The list of holdings provided is only a partial list of the 27 total holdings in the fund.

• Investors must track both price changes and distributions to understand their actual total return.

Beginner takeaway

TBFC is a conservative ETF that focuses on providing both share-price growth and regular cash income through distributions. While the share price itself has grown slowly, the total return is higher because of the cash payments made to investors.