Before any asset class can enter a portfolio, it must pass a four-dimensional evaluation — diversification value, total cost, tradability, and structural complexity. What survives is organized into three tiers based on portfolio role: core holdings that form every portfolio's foundation, strategic allocations included when diversification justifies the cost, and tactical instruments deployed to hedge specific risks or express precise views.
The asset classes and evaluation criteria described are for informational purposes only and do not constitute investment advice or a recommendation to buy or sell any security. Not all asset classes are included in every portfolio. All investments involve risk, including the possible loss of principal.
Every portfolio begins with this universe — but the combination is unique to you. Tell us what you're working toward and we'll show you how these instruments come together.
See How These Combine in a Portfolio