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8 min read

Portfolio Diversification: Why and How

Don't put all your eggs in one basket. Learn how to spread risk across asset classes, sectors, and geographies.

Why Diversify?

Diversification spreads risk. When one investment falls, others may hold up. You smooth out returns and reduce the chance of a catastrophic loss. The goal: participate in market gains while limiting exposure to any single failure.

What to Diversify Across

  • Asset classes: Stocks, bonds, cash, real estate.
  • Sectors: Tech, healthcare, financials, consumer, etc.
  • Geography: US, developed international, emerging markets.
  • Company size: Large-cap, mid-cap, small-cap.

How to Achieve It

Simplest approach: One total US stock ETF + one total international ETF + one bond ETF. Three funds can give you broad diversification.

Single fund: A target-date fund or "all-in-one" fund does it for you. Easiest option.

Diversification Doesn't Mean

  • Owning 20 tech stocks (that's sector concentration).
  • Owning only US companies (no geographic diversification).
  • Chasing returns by piling into what's hot.

Key insight: Diversification means you'll always have something underperforming. That's the point—you're not bet on one outcome. Over time, the whole portfolio can do better than its parts.

Frequently Asked Questions

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Portfolio Diversification: Why and How | Investors Lab | Investors Lab