What's the best 1x ETF to hold as diversification when you have an LETF portfolio?

Uh oh… tqqq and bonds? Tell me not TMF.

If you want true diversification look at gold and/or managed futures like dbmf cta kmlm.

Seriously take a look at VT or similar. Why? Because when money rotates out of tech, TQQQ will get obliterated (plz have exit plan) while the tech in VT just smolders a bit, and the money leaving the tech in VT will move into more defensive assets still within VT.

There's also CTAP if you want leverage or RSSB etc.

XLE or XLF

Energy or mining companies

Assuming you want the least overlap and good diversification. VXUS would be my pick.

If you don't want a hedge, then what is your logic here?! More the same, but more complicated?!

Your gonna want a Hedge. And No to Bonds right now

For broad market ETF diversifier you should looking at value tilts, so SCHD make some sense, AVUV/NV/DV as well, or RSIT but it's leveraged. Otherwise consider defensive sectors, energy sectors, gold or managed futures.

Utilities.

VTV

Global minimum volatility

brk.b

I’d go with VOO.

Yes there will be some overlap, but at some point in your lifetime (likely more than once or even twice) there will be a major correction. Your VOO will not tank as hard as your TQQQ will and when that happens, you sell VOO and buy leverage (SSO, SPXL, QLD or TQQQ)

I don’t do bonds since I personally see them as a drag on returns.

Other options are to hold some ERX or XLE, XLU or UPW, since either leveraged or not, they provide ballast for different market conditions.

I’ve been at this for as long as letfs have existed and personally like having exposure to 1x index funds in order to deploy when there is blood in the streets

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