This is an actively managed multi-asset ETF that pursues long-term growth by centering on equities and adding a partial bond allocation. It combines ETFs that provide exposure to multiple asset classes and adjusts weightings according to market conditions to deliver a growth-oriented asset allocation.

It suits long-term investors who want to invest in a growth-oriented multi-asset portfolio through a single product while leaving asset allocation decisions to the management team.

It is an ETF run by Brinsmere using an active (actively managed) approach.

The fund combines ETFs that provide exposure to multiple asset classes, using a growth-oriented weighting that centers on equities with a partial bond allocation. It actively adjusts asset weightings according to market conditions, and takes an active approach that seeks long-term capital growth by diversifying across a growth-oriented multi-asset portfolio through a single product.

• Equity-focused, growth-oriented asset allocation
• Multi-asset exposure through a combination of ETFs

Assets under management (AUM) stand at $378.4M, and the total expense ratio is 0.46% per year.

Compared with static asset allocation ETFs and single-index ETFs, its growth-oriented weighting and actively managed allocation approach are the main points of comparison.

Because growth-oriented multi-asset products carry a large equity weighting, they aim to capture equity gains in rising markets, while the bond allocation seeks to soften part of the drawdown in falling markets. With a higher equity weighting, they tend to be more volatile than balanced or conservative products.

Fund flows into growth-oriented multi-asset products diverge depending on market risk appetite and demand for asset allocation, and demand for growth-oriented allocation through a single product can add to this, sometimes shifting money toward related product groups. It is also worth noting that performance varies with the timeliness of allocation decisions.

Its strength is growth-oriented multi-asset allocation, while high equity volatility, the limits of allocation judgment, and active management fees are considerations.

For allocating assets with a static growth-oriented weighting, direct substitutes include AOA, and for broad exposure to global equities, products such as VT are also worth comparing. If you want exposure to the US market as a whole, products such as VTI can be considered as well. The three products shown in the table, WLTG, TUG, and TUGN, take approaches different from growth-oriented allocation, using long-term growth and tactical growth-and-income strategies respectively, so they serve mainly as reference points. For this ETF, the key differentiator is its equity-focused, actively managed growth-oriented asset allocation.

These are the points to review before investing in TBFG. Growth-oriented multi-asset allocation is the main attraction, but high equity volatility, the limits of allocation judgment, and the management fee should be checked in advance. It is also advisable to compare it with static asset allocation and single-index products.

High volatility driven by the equity weighting and the timeliness of asset allocation decisions are the main variables for long-term performance, and in periods when allocation calls go wrong, the fund may underperform a simple index. Because of its growth-oriented weighting, drawdowns can be large during market crashes.

It is a suitable candidate for long-term investors who want to invest in a growth-oriented multi-asset portfolio through a single product. If you prioritize a static growth-oriented allocation, compare products such as AOA, and if you want an actively managed growth-oriented allocation, compare this product alongside it before choosing.