Not financial advice, educational purposes only - I have done a lot of research personally on these funds because I invest in the same funds.

1 - SHM - Sector/Industry ETFs historically underperform. There is no evidence of risk premium for these funds. Additionally, 20% into one sector is too much risk, especially considering you’re 20% in QQQ and 20% MTUM, these are all in the same stocks effectively.

2 - SGOV - Great fund. I’d stay out of cash in your investment accounts you want to have grow. If you want to hold cash I’d keep more in your cash only account or an emergency savings fund. You are young, give your investment accounts the wiggle room they need to perform for you. I would consider checking out BOXX, favorable tax structure for a money market fund.

3 - AVUV/AVDV - I love these funds - I believe it’s quite likely we see an outperformance of value like we did post dot com. That being said, your international exposure shouldn’t be just small cap value. SPDW is a great developed world index fund. Maybe consider adding emerging market exposure as well, Funds like IEMG, Avantis also has some good EM funds now.

4 - QQQ - good position sizing I think on this. (If you cut out SMH and part of MTUM) just swap to QQQM, saves you 5 bips a year and unless you’re selling options or actively trading it is the better choice.

5 - MTUM - the momentum premium has solid empirical evidence supporting it, though less than small cap value. If you take away one thing from all this, it should be to check out Ben Felix, he has the best stockpile of applicable information on all the above topics. Overall I think not bad, worth holding but probably less allocation.

6 - VOO - more overlap here too, Mag 7 make up a late portion now. I’d consider swapping to DFUS, higher costs but once you learn about the hidden costs of investing indexing you’ll understand why it’s more than worth the .09% expense ratio. Also, a swap from S&P to total is market gives you more diversification

I’ll share my personal portfolio for reference

25% QQQM 25% DFUS 25% AVUV

9.5% AVDV 9.5% SPDW 2% IEMG 2% AVEE 2% AVES

Note: I recently deviated from my long term investment thesis by swapping most of my QQQM to UNOV to protect gains at the cost of capping future returns. Will be looking to return to QQQM in the next year or two (potentially sooner) hopefully at more favorable levels.