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overlap problem nobody checks"}],"markDefs":[],"style":"h2"},{"_key":"0ecf1b70d292","_type":"block","children":[{"_key":"a2d6bd0863740","_type":"span","marks":[],"text":"This is the part that surprises people."}],"markDefs":[],"style":"normal"},{"_key":"c43722a81d4d","_type":"block","children":[{"_key":"d0d08a4492020","_type":"span","marks":[],"text":"If you’re holding a broad Canadian equity ETF like XIC "},{"_key":"d0d08a4492021","_type":"span","marks":["em"],"text":"and"},{"_key":"d0d08a4492022","_type":"span","marks":[],"text":" a Canadian dividend ETF like XDV, you’ve got significant overlap. The top holdings in both funds are the same banks and energy companies. You’re not more diversified - you’re double-counting."}],"markDefs":[],"style":"normal"},{"_key":"f5f66da453b5","_type":"block","children":[{"_key":"2bc18be6f5b50","_type":"span","marks":[],"text":"The same thing happens when people hold XEQT (which already includes Canadian, U.S., international, and emerging-market stocks) "},{"_key":"2bc18be6f5b51","_type":"span","marks":["em"],"text":"and"},{"_key":"2bc18be6f5b52","_type":"span","marks":[],"text":" add a separate U.S. S&P 500 ETF on top. You’re now overweight U.S. stocks without necessarily realizing it."}],"markDefs":[],"style":"normal"},{"_key":"853f48b16b22","_type":"block","children":[{"_key":"04794321d6ba0","_type":"span","marks":[],"text":"A well-designed 3-ETF portfolio mostly avoids this. Each fund covers a distinct slice with minimal overlap."}],"markDefs":[],"style":"normal"},{"_key":"f81a61780577","_type":"block","children":[{"_key":"e8e5872fae0f","_type":"span","marks":[],"text":""}],"markDefs":[],"style":"normal"},{"_key":"1688122baf3a","_type":"block","children":[{"_key":"f16ac22316370","_type":"span","marks":["strong"],"text":"What a clean 3-ETF portfolio actually looks like"}],"markDefs":[],"style":"h2"},{"_key":"31e6bbeaad00","_type":"block","children":[{"_key":"8a0681b744bc0","_type":"span","marks":[],"text":"For most Canadian DIY investors, a simple portfolio looks something like this:"}],"markDefs":[],"style":"normal"},{"_key":"339b96e187ab","_type":"block","children":[{"_key":"bfb473f6dc600","_type":"span","marks":[],"text":"A Canadian equity ETF (like XIC or VCN) for domestic exposure. An international equity ETF (like XAW or VXC) for everything outside Canada. 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