With a some exceptions, ETF investors break down into to three competing camps. Those who believe the S&P 500 investment alone is sufficient, those who argue for total market funds that include small and mid-cap exposure, and those who believe direct international ownership is necessary for true diversification. There’s some debate regarding size and timing of bond ownership and other investments like gold, but almost every is one of these three types.
For new investors, this debate is akin to fitness coaches who argue about the merits of cardio versus weightlifting versus plyometrics. Each approach has benefits, but the most important factor is that you’re exercising consistently. Similarly, those who argue for VOO, VTI, and VT or their equivalents are all making a smart choice by investing regularly in passively managed low-cost broad market ETFs.
Who will be “right” in the end? No one knows. Past performance offers no guarantees about future returns. However, the principles that we all agree on matter far more than the slight variations in our fundamental selections. Low cost simple ETFs/mutuals outpace 90% of their actively managed counterparts over the long run, no matter what camp you fall into.