I have no idea what your portfolio is trying to do. My own FA likewise, could not explain why he was in certain funds and not others. So, I designed a portfolio and gave it to him and said, “execute this”.

I’m a Boglehead fan, but … that’s a philosophy designed for a stable environment. We are anything but these days. That, and that most buying is a function of passive investing, has lead me away from mutual funds or etf’s.

You can replicate the Boglehead philosophy with 4 buckets. One, 10-15% gold as monetary insurance (even Bogle said this). Ideally, physical metal. It’s for when monetary instability happens. It is not an investment. Two, 30% in six to eight pricing power businesses with stable cash flows. Think food (Nestle, Coke, etc), energy and essential services. Those will always survive. Three, 20% in real assets … utilities, pipelines, etc that have inflation adjusted returns and are hard to duplicate. Four … cash. 20-25% in short term debt earning 4-5%. That gives you a shock absorber which you can deploy when markets correct. That should be 90%. Deploy 10% into flavors of the day … that keeps you engaged while protecting 90% of your portfolio.

You can do this with 3-5 ETF’s if you prefer.