At a glance
TPSC charges 0.52% a year, above the 0.14% average of the 8 funds most like it (the most expensive of 9). It has $357.0M in assets, the 5th largest of that group; it paid 1.13% of its price in distributions over the past 12 months, monthly. Over the past year it returned +13.0% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +18.2% a year. At its worst it fell 40.0% in the 2020 crash (S&P 500: 33.7%) and 22.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 15 months after the lows. Its ten largest positions make up 4.2% of the fund, out of 436 in all.
The short version
Timothy Plan US Small Cap Core ETF (TPSC) is an index fund that held 436 small and mid-sized US companies with positive earnings as of June 30, 2026. It weights each stock by how volatile it is rather than by company size, and it screens out businesses that conflict with the issuer's faith-based values. Its 0.52% expense ratio is the highest of the nine similar small-cap funds compared here, where the average is 0.14%.
Price history
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TPSC +13.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| TPSC official prospectus, to Dec 31, 2025 | — | +7.22% | — | +9.56% | — | +10.10% |
| Russell 3000 Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +17.15% | — | +13.15% | — | +14.91% |
| Russell 2000 Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +12.81% | — | +6.09% | — | +8.87% |
| Victory US Small Cap Volatility Weighted BRI Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +7.87% | — | +10.22% | — | +10.76% |
| TPSC price data to Oct 27, 2026 | +13.0% | +13.0% | +18.2% | +7.9% | — | +10.9% |
- Over the year to Oct 27, 2026, TPSC returned +13.0%, 8th of 9 among similar funds.
- Its 5-year annualized return was +7.9%.
- In the 2020 COVID crash it fell 40% and regained its old high 7.6 months after the low.
- Its worst full calendar year was 2022 (-13.5%); its best was 2021 (+29.7%).
- The deepest fall in its price history was 41.8% (Jan 16, 2020 to Mar 23, 2020), recovered by Nov 23, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +13.0% | — |
| 2025 | +7.3% | +7.22% |
| 2024 | +11.5% | +11.57% |
| 2023 | +17.7% | +17.64% |
| 2022 | -13.5% | -13.45% |
| 2021 | +29.7% | +29.62% |
| 2020 | +10.3% | +9.99% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 39.9% over that stretch · deepest drop along the way 40%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19.9% over that stretch · deepest drop along the way 22.8%, back to its old high 14.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4221 | |
| 2025 | $0.4405 | +15.9% |
| 2024 | $0.3800 | -3.8% |
| 2023 | $0.3949 | +21.7% |
| 2022 | $0.3244 | -17.7% |
| 2021 | $0.3943 | +26.2% |
| 2020 | $0.3125 |
What's inside
As of Jun 30, 2026, the fund held 436 securities; the ten largest made up 4.17% of assets.
| Holding | Weight | |
|---|---|---|
| IDACORP, INC. | 0.48% | |
| THE HANOVER INSURANCE GROUP, INC. | 0.46% | |
| NEW JERSEY RESOURCES CORPORATION | 0.42% | |
| AMERICAN STATES WATER COMPANY | 0.41% | |
| SOUTHWEST GAS HOLDINGS, INC. | 0.41% | |
| WATTS WATER TECHNOLOGIES, INC. | 0.41% | |
| AVISTA CORPORATION | 0.40% | |
| PORTLAND GENERAL ELECTRIC COMPANY | 0.39% | |
| ONE GAS, INC. | 0.39% | |
| MGE ENERGY, INC. | 0.39% | |
| CNO FINANCIAL GROUP, INC. | 0.38% | |
| GRANITE CONSTRUCTION INCORPORATED | 0.38% | |
| BLACK HILLS CORPORATION | 0.38% | |
| VALMONT INDUSTRIES, INC. | 0.37% | |
| BRADY CORPORATION | 0.37% |
By country
United States 96.22%Bermuda 1.8%Cayman Islands 0.47%Ireland 0.4%Puerto Rico 0.33%By asset type
Stocks 99.81%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $15.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.54%, -0.87%, +6.24%.
How it works
TPSC tracks the Victory US Small Cap Volatility Weighted BRI Index, which was created by the fund's sub-adviser. The index starts from the Nasdaq Victory US Small Cap 500 Volatility Weighted Index. That index takes the 500 largest US companies from the smallest 10% of the Nasdaq US Small Cap Index by market value, and it keeps only companies with positive earnings over the past 12 months. Timothy Plan, the adviser, then gives the sub-adviser a list of companies that fail its BRI screens, and those companies are removed. The screens exclude companies involved in alcohol, tobacco, gambling, abortion, pornography, or entertainment and lifestyles the adviser considers anti-family or unbiblical.
Most index funds give the biggest companies the biggest weights. This index gives larger weights to stocks whose prices have moved less. No sector can exceed 25%. The index is rebuilt every April and October. As of March 31, 2026, its companies ranged from $632 million to $50.17 billion in market value. As of June 30, 2026, the 10 largest holdings made up only 4.17% of the fund. The top three were IDACORP (0.48%), Hanover Insurance Group (0.46%) and New Jersey Resources (0.42%).
The fund tries to hold every stock in the index at about its index weight. It is passive, so it never moves to cash or takes a defensive stance in falling markets. If a holding is later found to break the screens, it is sold at the next rebalance. Portfolio turnover was 47%.
What it really costs
- TPSC charges 0.52% a year, versus an average of 0.14% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $53 in the first year and $653 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| TPSC | $53 | $167 | $291 | $653 |
In a retirement portfolio
It is a screened, volatility-weighted small-cap fund that has had deep drops and costs well above its peers, so it fits better as a smaller piece next to a broad core holding.
TPSC could add faith-screened exposure to US small companies, but the ride has been bumpy. Its deepest drop was 41.8%, from January 16 to March 23, 2020, and it recovered by November 23, 2020. In the 2022 bear market it fell 22.8% and took 14.7 months to recover. Its worst calendar year was 2022, at −13.45%. Anyone forced to sell shares during stretches like these would lock in losses. The fund launched in December 2019, so it has no record from the 2008 crisis. It pays monthly, but the income is modest: the trailing yield was 1.13% as of October 27, 2026. Costs add up too. In the SEC's standard example, $10,000 would incur $653 in costs over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want US small-company stocks screened to exclude alcohol, tobacco, gambling, abortion and pornography, and who accept a 0.52% annual cost for that.
- Those who like volatility weighting, which put utilities such as IDACORP, New Jersey Resources and Southwest Gas among the top holdings as of June 30, 2026.
- Holders who want small-cap exposure limited to profitable companies, since only firms with positive earnings over the past 12 months qualify for the index.
Look elsewhere if
- Cost-focused investors: IJR charges 0.06% and SPSM 0.03%, versus 0.52% for TPSC, the highest of the nine similar funds compared.
- Anyone who may need to sell in a downturn: TPSC fell 41.8% in early 2020 and took 14.7 months to recover after 2022.
- Those seeking meaningful income: the trailing yield was just 1.13% as of October 27, 2026, even though the fund pays monthly.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| TPSC this fund | — | 0.52% | $357.0M | +13.0% | +18.2% |
| CSA VictoryShares US Small Cap Volatility Wtd E… | 58% | 0.35% | $24.3M | 0.0% | +7.2% |
| BKSE BNY Mellon US Small Cap Core Equity ETF | 50% | 0.04% | $87.3M | +14.9% | +21.3% |
| VIOO Vanguard S&P Small-Cap 600 ETF | 41% | 0.07% | $6.45B | +16.7% | +18.6% |
| SPSM SPDR Portfolio S&P 600 Small Cap ETF | 41% | 0.03% | $16.92B | +21.7% | +17.4% |
| QVMS Invesco S&P SmallCap 600 QVM Multi-factor E… | 41% | 0.15% | $248.2M | +17.1% | +18.9% |
| IJR iShares Core S&P Small-Cap ETF | 40% | 0.06% | $111.32B | +21.7% | +17.4% |
| XJR iShares ESG Select Screened S&P Small-Cap E… | 39% | 0.12% | $160.7M | +15.1% | +18.5% |
Questions investors ask
Does TPSC pay monthly dividends?
Yes. TPSC pays distributions monthly. Over the 12 months to October 27, 2026, it paid about $0.52 per share, a trailing yield of 1.13%. That is modest income, because the fund holds small companies chosen for low volatility and screening rules, not for high dividends. Monthly payment amounts can vary, and the fund's prospectus notes that buying and selling by large shareholders may affect the per-share amount of its distributions.
What companies does TPSC exclude?
TPSC excludes companies involved in producing or wholesaling alcohol, tobacco or gambling equipment, running gambling businesses, or involved directly or indirectly in abortion or pornography. It also excludes companies it considers to promote anti-family entertainment or unbiblical lifestyles. The adviser can exclude other companies it judges offensive to traditional Judeo-Christian values. Because the index is rebuilt only in April and October, the fund may briefly hold a company that fails the screens before selling it at the next rebalance.
What's the difference between TPSC and CSA?
Both are volatility-weighted small-cap ETFs, and about 58% of their holdings overlap. TPSC's index adds faith-based screens, removing companies tied to alcohol, tobacco, gambling, abortion, pornography and similar activities. CSA, the VictoryShares US Small Cap Volatility Wtd ETF, is cheaper, with a 0.35% expense ratio versus 0.52% for TPSC. It is also much smaller: it had about $24 million in net assets as of March 31, 2025, compared with about $357 million for TPSC as of June 30, 2026.
What is TPSC's expense ratio?
TPSC's expense ratio is 0.52% a year, according to its prospectus filed April 30, 2026. That ranks 9th of 9 among the similar small-cap funds compared here, where the average is 0.14%. Index funds such as IJR (0.06%), VIOO (0.07%) and SPSM (0.03%) cost far less. In the SEC's standard example, assuming a $10,000 investment and a 5% annual return, costs would total $53 after one year, $291 after five years and $653 after ten.
How has TPSC performed compared with the Russell 2000?
Results have been mixed. As of December 31, 2025, TPSC returned 7.22% over one year, compared with 12.81% for the Russell 2000. Over five years, though, TPSC averaged 9.56% a year, against 6.09% for the Russell 2000. Since its December 2019 launch, it averaged 10.1% a year, versus 8.87%. Based on prices as of October 27, 2026, its one-year return of 13% and three-year annual return of 18.2% both ranked 8th of 9 among similar funds.