At a glance
TSEL charges 0.67% a year, above the 0.62% average of the 8 funds most like it (the 7th cheapest of 9). It has $83.5M in assets, the 8th largest of that group. Over the past year it returned −9.4% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds. Its ten largest positions make up 59.4% of the fund, out of 28 in all.
The short version
Touchstone Sands Capital US Select Growth ETF (TSEL) is an actively managed fund. Its manager, Sands Capital, picks 25 to 35 large and mid-size U.S. growth stocks. As of June 30, 2026, it held 28 companies. NVIDIA alone made up about 11%, and the top 10 made up 59%. Its 0.67% expense ratio is above the 0.62% average for similar active growth ETFs, and it trades its holdings often.
Price history
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TSEL -9.4% 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 | |
|---|---|---|---|---|---|---|
| TSEL official prospectus, to Dec 31, 2025 | — | +13.32% | — | — | — | — |
| TSEL price data to Oct 27, 2026 | -2.5% | -9.4% | — | — | — | +4.5% |
- Over the year to Oct 27, 2026, TSEL returned -9.4%, 9th of 9 among similar funds.
- The deepest fall in its price history was 28.9% (Feb 14, 2025 to Apr 4, 2025), recovered by Jun 26, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -2.5% | — |
| 2025 | +11.2% | +13.32% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
What's inside
As of Jun 30, 2026, the fund held 28 securities; the ten largest made up 59.38% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORP | 11.31% | |
| SEAGATE TECHNOLOGY HOLDINGS PLC | 7.79% | |
| MICRON TECHNOLOGY INC | 6.23% | |
| ALPHABET INC | 6.20% | |
| META PLATFORMS INC | 5.42% | |
| AMAZON.COM INC | 5.29% | |
| CARPENTER TECHNOLOGY CORP | 4.61% | |
| QUANTA SERVICES INC | 4.49% | |
| SANDISK CORP | 4.03% | |
| SPOTIFY TECHNOLOGY SA | 4.01% | |
| BLOCK INC | 3.80% | |
| MICROSOFT CORP | 3.73% | |
| BLOOM ENERGY CORP | 3.69% | |
| SHOPIFY INC | 2.92% | |
| CARVANA COMPANY | 2.70% |
By country
United States 82.31%Ireland 7.79%Luxembourg 4.01%Canada 2.92%Cayman Islands 1.84%By asset type
Stocks 98.87%By sector
Sectors of the companies held, for the 65.9% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $47.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +12.87%, +6.45%, -0.47%.
How it works
TSEL does not track an index. Its goal is long-term capital appreciation, meaning growth in the value of your shares. Western & Southern Mutual Holding Co. is the issuer, and Sands Capital, the sub-adviser, picks the stocks. At least 80% of assets go into common stocks of U.S. companies that Sands Capital believes can grow revenue or earnings faster than average. The fund can change that policy with 60 days' notice to shareholders. It focuses on large and mid-size companies, with a weighted-average market value generally above $25 billion. It generally won't buy a company worth less than $2 billion. It can own shares of non-U.S. companies listed on U.S. exchanges, such as Seagate (Ireland) and Spotify (Luxembourg).
Sands Capital studies each company one by one. It weighs environmental, social and governance (ESG) factors where it believes they affect long-term value. The fund is "non-diversified." That means it can put large amounts into a few companies or sectors. As of June 30, 2026, the top 10 holdings were 59% of assets. The fund held no derivatives and kept about 1% in cash.
There is no fixed rebalancing schedule. Turnover was 109%, which means the fund replaced roughly the equivalent of its whole portfolio in a year. Heavy trading can add hidden trading costs.
What it really costs
- TSEL charges 0.67% a year, versus an average of 0.62% for the similar funds below (7th of 9, cheapest first).
- Of that, 0.65% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.29% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $68 in the first year and $1,152 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| TSEL | $68 | $277 | $503 | $1,152 |
In a retirement portfolio
It holds a concentrated set of about 28 growth stocks, it moves more than the market, and it pays no income, so it fits better as a small add-on than as a foundation.
TSEL launched on January 2, 2025. It has no record in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market, and it has only one full calendar year of results. Its deepest drop so far was 28.9%, from February 14 to April 4, 2025. It got back to its old high by June 26, 2025, about 2.7 months later. Over the year to October 27, 2026, it lost 9.4%. Its beta was 1.59, meaning it tended to move about 1.6 times as much as the market. Someone who has to sell shares in a bad year could lock in losses. The fund has paid no distributions, so any income would have to come from selling shares. It costs 0.67% a year, or $68 in the first year in the SEC's standard $10,000 example. Past results don't predict future ones. A retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small, concentrated growth position of about 28 stock-picked companies, led by NVIDIA, Seagate, Micron and Alphabet as of June 30, 2026.
- Long-term holders who can sit through steep drops, like the 28.9% fall in early 2025, without needing to sell.
- People seeking growth from an active manager who don't need income, since the fund has made no distributions.
Look elsewhere if
- Retirees who rely on regular income from their investments, because TSEL has paid no distributions.
- Cost-conscious investors: its 0.67% expense ratio ranks 7th of 9 among similar funds and is higher than FFOG's 0.55%.
- Those wanting a long track record: TSEL launched January 2, 2025, and trailed all eight similar funds over the year to October 27, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| TSEL this fund | — | 0.67% | $83.5M | -9.4% | — |
| FFOG Franklin Focused Growth ETF FOCUSED GROWTH … | 45% | 0.55% | $311.7M | -0.4% | — |
| AFGR First Trust Active Factor Large Cap Growth … | 44% | 0.85% | $93.0M | +0.1% | +23.9% |
| HFGO Hartford Large Cap Growth ETF | 44% | 0.59% | $200.9M | +2.5% | +27.0% |
| BGRO iShares Large Cap Growth Active ETF | 41% | 0.55% | $8.9M | +5.7% | — |
| TCHP T. Rowe Price Blue Chip Growth ETF | 41% | 0.57% | $2.16B | -1.2% | +23.5% |
| PJFG PGIM Jennison Focused Growth ETF | 40% | 0.75% | $140.3M | +3.6% | +25.2% |
| PGRO Putnam Focused Large Cap Growth ETF | 40% | 0.56% | $212.1M | +3.1% | +24.6% |
Questions investors ask
Does TSEL pay a dividend?
No. TSEL has recorded no distributions since it launched on January 2, 2025. The fund aims for long-term growth in value, not income. It owns growth companies such as NVIDIA, Alphabet and Amazon, which tend to put their profits back into the business. Any return comes from changes in the share price. Investors who need cash from TSEL would have to sell shares, which can mean selling low in a down market.
What is TSEL's expense ratio?
TSEL's expense ratio is 0.67%, according to the prospectus filed April 29, 2026. The management fee alone is 0.65%. That is above the 0.62% average for similar active growth ETFs, and it ranks 7th of 9 on cost. The SEC's standard example assumes $10,000 invested and a 5% yearly return. In that example, costs would be about $68 after one year, $277 after three, $503 after five and $1,152 after ten.
What are TSEL's top holdings?
As of June 30, 2026, NVIDIA was TSEL's largest holding at about 11.3% of assets. Next came Seagate Technology (7.8%), Micron Technology (6.2%), Alphabet (6.2%), Meta Platforms (5.4%) and Amazon (5.3%). Carpenter Technology, Quanta Services, Sandisk and Spotify rounded out the top 10. The fund held 28 companies, and the top 10 made up about 59% of assets. That makes it far more concentrated than a broad index fund.
TSEL vs FFOG: what's the difference?
Both are actively managed, concentrated large-cap growth ETFs. FFOG, the Franklin Focused Growth ETF, shares about 45% of TSEL's holdings, more than any other similar fund. FFOG costs less, at 0.55% compared with TSEL's 0.67%. Over the year to October 27, 2026, FFOG returned -0.4%, while TSEL returned -9.4%. FFOG is also larger, with about $312 million in assets as of June 30, 2026, compared with about $83 million for TSEL.
Is TSEL a risky ETF?
Yes, it carries more risk than a broad stock fund. It is non-diversified and concentrated in about 28 growth stocks. Its beta was 1.59 over the year to October 27, 2026, meaning it tended to move about 1.6 times as much as the market. Its deepest drop was 28.9%, from February to April 2025. Quarterly results ranged from -10.84% in the first quarter of 2025 to +27.73% in the second. For all of 2025, it returned 13.32%.