ETF Evaluator:
TBG Dividend Focus ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Value Over the Last Year
| 72.4% | iShares MSCI USA Value Factor ETF (VLUE) |
| 39.0% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 34.8% | LSV Disciplined Value ETF (LSVD) |
| 34.7% | iShares Core Dividend ETF (DIVB) |
| 34.4% | Avantis US Large Cap Value ETF (AVLV) |
Risk
Index
Risk
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ETF Details
TBG Dividend Focus ETF Overview
TBG Dividend Focus ETF (TBG) is an actively managed U.S. Equity Large Value exchange-traded fund (ETF). TBG ETF launched the ETF in 2023.
The investment seeks income and long-term capital appreciation.
The fund seeks to achieve its investment objective by investing in equity securities of small-, mid- and large- capitalization companies that the sub-adviser believes have the potential to grow their dividends over time. The fund will invest primarily in companies that have operations in and/or domiciled in the U.S. and that trade on U.S. stock exchanges. In addition, the fund may invest in real estate investment trusts (REITs) and master limited partnerships (MLPs).
About TBG Dividend Focus ETF (TBG)
There are 2 members of the management team with an average tenure of 2.73 years: Brian Szytel (2023) and David Bahnsen (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. TBG Dividend Focus ETF has 40 securities in its portfolio. The top 10 holdings constitute 38.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
TBG Dividend Focus ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. TBG Dividend Focus ETF has 5.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.6% There is 5.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). TBG Dividend Focus ETF has 5.0% of the portfolio in cash.
Assets Under Management
The fund has $260 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TBG Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The TBG Dividend Focus ETF expense ratio is average compared to funds in the Large Value category. TBG Dividend Focus ETF has an expense ratio of 0.45%, which is 21% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. TBG Dividend Focus ETF has a portfolio turnover rate of 26%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.
Recently, in the month of July 2026, TBG Dividend Focus ETF returned 4.5%, which earned it a grade of A, as the Large Value category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
TBG Dividend Focus ETF has a trailing yield of 2.41%, which is above the 1.70% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
TBG Dividend Focus ETF Grades
Year to date, the ETF has returned 15.4%, 1.0 percentage points better than the category, which translates into a grade of C. The fund has returned 20.3% over the past year (grade of D).
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TBG Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TBG Return (NAV) | 4.5% | 6.0% | 20.3% | na | na | na |
| TBG Return (Price) | 4.5% | 6.1% | 20.4% | na | na | na |
| NAV +/- Price Return | -0.010% | -0.159% | -0.074% | na | na | na |
| Large Value Avg | 2.4% | 5.9% | 24.1% | 16.3% | 11.3% | 12.1% |
| TBG Grade (NAV) | A | C | D | na | na | na |
| +/- Category (NAV) | 2.1% | 0.1% | -3.7% | na | na | na |
| TBG Tax-Cost Ratio | na | na | 1.1% | na | na | na |
TBG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TBG Return (NAV) | 15.4% | 7.6% | 20.7% | na | na | na | na | na | na | na | na |
| TBG Return (Price) | 15.6% | 7.5% | 20.6% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.011% | -0.014% | -0.006% | na | na | na | na | na | na | na | na |
| Large Value Avg | 14.4% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| TBG Grade (NAV) | C | F | A | na | na | na | na | na | na | na | na |
| +/- Category | 1.0% | -7.2% | 5.2% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 2.4% |
| Total Assets: | $ 260 Mil |
| Share Class Assets: | $ 260 Mil |
| Turnover: | 26.0% |
| Expense Ratio: | 0.45% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.7 years | |||
| Average Tenure: 2.7 years | |||
| Managers (Year): Szytel Brian (2023), Bahnsen David (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 40 |
| % in Top 10 Holdings: | 38.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.2% |
Portfolio Allocation |
|
| Domestic Stock: | 89.6% |
| Foreign Stock: | 5.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 5.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | TBG ETF |
| Phone Number: | 215-330-4476 |
| Website: | www.valueshares.com |
| Inception Date: | November 6, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.45% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.37% |
