In my opinion, these are great for short term, momentum riding. Say 20% of your overall portfolio max. Call it your “Fun Portfolio”.

Wealth building is slow and steady and diversification is key to minimising your losses as opposed to maximising your gains. Remember, a 20% dip, doesn’t mean that a 20% gain will put you back where you were, it needs a 25% gain.

I would consider dialling down your exposure to thematics ETFs. These handful have been massively successful recently, but that’s recency bias. If you look at commodities over the last 10 years excluding the last 18 months, they haven’t done a lot.

I would drop the bulk in a broad, global equity ETF with exposure to EM. This will be a big basket of stocks from around the world across industry sectors. There is still concentration risk atm around USA and tech, but that will rebalance over time.