--- title: "Brinsmere files for a balanced ETF that does not lock in a 60/40 mix" url: "https://etf.net/news/brinsmere-files-for-a-balanced-etf-that-does-not-lock-in-a-60-40-mix-2026-10-08" published_at: "2026-10-08T12:07:17.337Z" updated_at: "2026-10-08T12:07:17.337Z" byline: "ETF.net Research" --- # Brinsmere files for a balanced ETF that does not lock in a 60/40 mix ETF Series Solutions filed a preliminary prospectus on October 7, 2026 for The Brinsmere Fund: Balanced ETF, which would aim for 60/40 risk without a fixed mix. By ETF.net Research. Published Oct 8, 2026. ETF Series Solutions filed a preliminary prospectus on Wednesday, October 7, for The Brinsmere Fund: Balanced ETF, which would target the risk of a traditional 60/40 portfolio without locking in that mix. The cover says the information is not complete and may be changed, and that shares cannot be sold until the registration is effective. It prints a proposed ticker, ETF:TBFB, and leaves the listing exchange blank. ETF Series Solutions is a trust used by many advisers, including Defiance. The adviser on this fund would be Estate Counselors, LLC, doing business as Brinsmere Fund Management. The prospectuses for the two Brinsmere funds already trading name that same company as The Milwaukee Company. Those funds began trading on January 16, 2024. The new fund would seek total return by holding other funds. The adviser, the prospectus says, "seeks to manage the Fund to an overall level of investment risk generally comparable to that associated with a traditional portfolio consisting of approximately 60% equities and 40% fixed income." The filing leaves open how the adviser would measure that comparison, and who would check it. Under normal market conditions the fund would generally keep at least **20%** of its assets in stock exposure and at least **20%** in bond exposure, and it would not keep a set target for any asset class. Those two floors leave wide room for the rest of the portfolio to move. The adviser would allocate the fund among investment components, each a slice of the portfolio run on its own systematic approach, meaning its own set of rules. Inside each slice it would use its own rules-based quantitative models. The prospectus says some models would seek exposure to broad markets or investment factors, some would use portfolio optimization or other quantitative methods to set allocations, and some would rotate among investments using relative strength, momentum, or trend. The models may weigh trends, volatility, valuation, interest rates, credit conditions, expected risk and return, and how the holdings diversify. As those signals and market conditions change, the mix may change materially, and the fund may trade often. Stock and bond exposure would include U.S. and foreign stocks and bonds of different lengths and credit risk. The fund may also obtain gold, commodities, or managed futures through underlying funds or exchange-traded products that themselves may use futures, options, swaps, or other derivatives. Andrew J. Willms, president and chief executive of the adviser, and Shrey Patel, senior portfolio manager, are among the portfolio managers. Both already manage the two funds that are trading. The prospectus names Penserra Capital Management LLC as sub-adviser, the same role it holds on those funds. ## What the fee table leaves open The management fee, the acquired fund fees, and the total are blank. Acquired fund fees are the extra cost a fund of funds pays because the funds it owns charge fees of their own. The two funds already trading show what this lineup charges now. The Brinsmere Fund: Growth ETF, ETF:TBFG, a fund of other funds that seeks long-term growth of capital, lists total annual fund operating expenses of 0.46%, including a 0.35% management fee and 0.11% in acquired fund fees. The Brinsmere Fund: Conservative ETF, ETF:TBFC, a fund of other funds that seeks long-term capital appreciation while trying to preserve capital, lists 0.44%, including the same 0.35% management fee and 0.09% in acquired fund fees. Together they held $747 million as of Thursday, October 8. The State Street Global Allocation ETF, ETF:GAL, is an active fund of other funds. Its June 2026 fact sheet says the fund typically allocates 60% of its assets to stocks, though the adviser can change that share. Its total annual fund operating expenses are 0.35%. The new filing has no fee yet to set beside that figure. The growth fund's prospectus describes growth-oriented versions of its strategies, including one that seeks the highest expected return inside growth constraints. The balanced filing would combine growth-oriented exposures with defensive and diversifying ones. ## When the registration could take effect The cover checks the box for the registration to become effective 75 days after Wednesday's filing. That points to Monday, December 21, unless the SEC staff slows the filing or the issuer amends it. The inception date is still blank. Nothing in this document changes ETF:TBFG or ETF:TBFC. A holder of either fund is not being asked to vote, to switch, or to pay a new fee. Source: etf.net, https://etf.net/news/brinsmere-files-for-a-balanced-etf-that-does-not-lock-in-a-60-40-mix-2026-10-08. Please cite the page URL.