INCE vs TBFG

INCEAFranklin Income Equity Focus ETF

TBFGBBrinsmere Fund Growth ETF

In short

INCE Franklin's income playbook run through stocks instead of bonds: roughly 100 equity-focused positions, monthly payouts, and an objective that targets lower volatility than the S&P 500, at a fee well under the typical allocation fund.

TBFG Three in-house models, run independently, decide what this global fund of funds holds. Launched in 2024, it is an allocation ETF where the mix shifts on the adviser's risk signals instead of sitting at a fixed 80/20 split.

Stated mandate

INCE The Fund seeks income from equity securities and related instruments while also pursuing capital appreciation and lower volatility than the S&P 500 Index.

TBFG The Fund seeks long-term growth of capital. It systematically allocates among three adviser-developed strategies that rebalance underlying funds using proprietary risk-management techniques.

Why people hold it

• INCE 0.29% a year, less than half what the typical allocation fund charges.
• Income is the job, and it shows up monthly. The mandate also lets managers move across debt and equity markets rather than sit in one lane.
• The stated goal is not yield alone: income, capital appreciation, and lower volatility than the S&P 500 are all written into the objective.
• Undercuts its multi-asset sibling INCM (0.38%) on fee, and sits among the stronger names in a crowded allocation field.

• TBFG 0.46%, with no fee waiver propping it up, which lands below the median for its 37-fund allocation category.
• Three proprietary strategies (SMB, CAAR and SIS) run independently and systematically rebalance the underlying funds on the adviser's risk-management rules.sec.gov
• One ticket covers global equity and bond markets, US and international, and the fund pays distributions quarterly.sec.gov
• A multi-hundred-million-dollar fund sitting in the upper half of a 37-fund allocation group, a decent showing for a 2024 launch.

Worth knowing

• INCE Small and lightly traded next to the giants of its category, so spreads can widen. Limit orders are the norm here.
• Distributions may include return of capital, so part of a monthly payout can be your own money coming back.
• Equity-forward by design. The aim is a smoother ride than the S&P 500, not bond-like steadiness.

• TBFG The models cost something. Index-built rivals run cheaper: AOA at 0.15% net of a waiver through November 30, 2026, and UCBG at 0.06%.
• Thinly traded next to the category's household names, so the spread at the moment you trade can matter as much as the yearly fee.
• No index to check it against. The asset mix comes from the adviser's own signals and can look nothing like a static stock-bond portfolio.sec.gov

Full INCE profile⁠

Full TBFG profile⁠