There's always the option of a multi-factor ETF, giving you exposure to value, small caps, momentum and low volatility. All bases covered that way.

I'm 36, so 22 years until pension access age. My SIPP has 12% small cap and 12% value exposure, the rest of the equities balance is in a single market cap weighted tracker. If the risk premiums do come to fruitation, I've got some exposure. And worst case, I've tilted away from the heavy US/Mag7 exposure, which I feel good doing.

Aviva Investors Global Equity Income Fund is an option - 46% in the US but only one Mag7 stock, Microsoft, and good performance over the years. Charge of about 1.1% is high though

I'm including transaction fees, hence the 1.27%. It's also the principal - I emailed them when the fund was new and they assured my they'd reduced the fee as it gets up to scale. It's over 4 x the size of when I first looked at it and no change to the fee!



So Ranmore sits atop the performance table - I think I'd be guilty of performance chasing here to be honest! Anything that has massively outperformed of late isn't really of appeal. No one was suggesting it when it was 99th percentile in 2020 and now there are articles online with fund pickers saying it's a must buy etc. It's a massive factor bet which has been a superb bet to make - until now. But it comes back to my earlier point - most are just a bet on value, growth or quality. How long is that a winning bet for - honestly who knows, and if it becomes a losing bet I suspect it could tank quite hard given how well it has performed of late. Another in the not for me category sadly, it just doesn't feel like a buy and forget.

I hear you on the small caps for sure - when will they come good, perhaps they won't. Flip side is you may get say 8% annualised return over 10-20 years, without reliance on large cap growth, and without giving it any thought whatsoever and with absolute minimal costs. Perhaps that too is a bet to some extent, but it feels a less concentrated one than picking a specific active fund to me.

I did look at HWWD, but weirdly the multi factor process has led them to a top 10 which looks oddly familiar;



Probably not quite what I expected!

The small caps seem a logical addition worth considering further. I am 39 (just) so also have a long timeframe in the SIPP. Currently it's 67% global trackers, 33% in 2 x active funds.

Agree on the peace of mind that comes with not second-guessing. I remember the market wobble in 2021 when I was holding positions that dropped far more than the market, and I had that nagging thought: have I done something stupid here.

It's a fair question you ask.

It’s not so much about hitting a specific milestone, it’s more about the growing concentration in what I already own. Risk management and diversification naturally start to weigh on my mind as my portfolio grows - it's why any portfolio tweaks made last couple of years have been new tax year time.

If I follow the same allocation for next year’s SIPP and ISA contributions, my holdings in global equity index trackers would rise to around £710K (based on my December spreadsheet - I suspect a bit less now given market moves). That starts to feel like a lot.

I always told myself that when my portfolio hit £1mn, I'd take things a bit more seriously. But that milestone came and went, and I just kept making the same monthly contributions without much thought. While I like the simplicity of continuing down that path forever, at some point, I have to ask myself: is this still the most sensible approach?

I don’t need more than say 7% annual returns to meet my financial goals, so with fresh capital coming in, why take on more risk than necessary?

I’m at that tipping point between how much risk I can take (quite a lot, given I’m 19 years away from SIPP access) and how much risk I need to take (probably less than I currently am).

To be clear, I’m not considering anything drastic - I may well end up not doing anything. But I am thinking more about diversification beyond simply adding more to a global tracker.