I'm a tinkerer. I think it's in my DNA. I hold a variety of stock and bond ETFs, and re-weight them occasionally as I see fit. For example, on the equity side, I mainly hold VTI (or the closest equivalent in DW's employer-limited, tax-deferred accounts). But I also hold VXUS for international exposure and VYM to emphasize large-cap/high dividend. I've been increasing VYM lately, to cushion volatility a bit. On the fixed income side, I mainly hold AGG. But I also hold a small amount of BNDX for international exposure and LQD/HYG to emphasize corporate bonds over treasuries. I've been increasing HYG lately as a modest hedge against rising rates. That's not a complete picture, but you get the idea. I'm not a one fund kinda guy. I like being in control, and not too concentrated in one or two funds. Wellington and Wellesley are excellent choices, no question. But they're like a black box to me, and the ER is quite a bit higher than my weighted average.